Lexington weekly intelligencer. (Lexington, Mo.) 1871-1887, 1881-02-26

ENCER, SATJ
II anything were needed to emphasize
the assertion that the national banks are
a danger and a q to the people,
their action, since the passage of the
funding bill by the senate, should sui
fee. Angry and inlamed because their
we're unheeded. and a 8 per cent.
rate adopted, a number OF banks in New
York city and elsewhere have surren-
dered their circulation, or part OF 1t, and
threaten to 60 out Of the business. For
once Mr.. Sherman seems to have drawn
away from the banks, and says they
have done a foolish thing. We say
seems" because he has been SO uni
formly working in the interests OF the
banks, and especially in the interest of
the one which has led in this movement,
that 1t may be only seeming. Many OF
the most prudent and careful congress
men and senator's became convinced
that the bonds could be placed at ) per
cent. They wanted to a v every possi'
BILE dollar of interest to the people.
Straightway the nahSal banks and
their organs began to manufacture pub
lie opinion against so low a rate. VI
course there were others who honestly
believed that 8 1-2 per ant was as low
as a bond could carry and be- sold at par I;
but the buster, and the threats, and the
bravado came from the sources indlca-
ted, and now they eliminate in an overt
act OF disruption on the part OF some Of
the most intolerant. They will come
back; never fear. It is better to get 3
per cent. on all their capital, and the
regular loaning rate on 90 per cent. OF it,
than the regular rate alone on the CAPT
tai. 1t is true that their taxes would be
less as state banks, but the big fellows,
the ones now trying vulgarly to bulldoze
congress, get so many privileges from
the treasury by eason OF being deposi'
tories, in placing loans, etc., that there
is no sort of danger that they will stay
out any longer than the expiration Of
this congress-. Certainly lone of the
banks except such as hold s and 6 per
cents. can figure it out to their interest
to retire their circulation. and as these
would have to give up their high rate
bonds in any event. We think they are
doing a very foolish thing. OF course il
all the banks were to surrender their cir
culation at once it would create a panic.
but there is little danger OF their doing
So. 1t remains, then, to be seen wheth-
or a republican administration will play
into their hands, or will honestly en-
deavor to place the loan at s per cent.
II it does, the loan will succeed. The
lesson conveyed in the threat to with
draw $342. 000, 900 OF the country's cir
culating medium should not be forgot
ten, and it will become the duty OF a
wise craftsmanship to devise q system
less dangerous In Its tendencies.
-
Since Missouri became a state in 1920
she has cen surpassed in relative po-
sition among the states by but one COM
monwealth-Illinois. At the date Of
her admission Missouri was the twenty
third state, coming after New York,
Virginia, Pennsylvania North Carolina,
Ohio. Kentucky, Massachusetts. South
Carolina. Tennessee, Maryland, Gecr-
gia, Maine. New Jersey, Connecticut,
New Hampshire, Vermont, Louisiana.
Indiana, Alabama, Rhode Island, Mis-
sissippi and Delaware, which several
states occupied the respective positions
here assigned them. In 1880 Missouri
was the twenty first state, and had pass
ed Mississippi, Rhode Island and Della
ware. and been outstripped by Illinois.
In 1910 she had in addition %overtaksn
and lett behind New Jersey. Louisiana,
Connecticut. Vermont, New Hampshire
and Michigan, and was the sixteenth
state. In 1850 she was the thirteenth
state, and had added to the list behind
her, South Carolina. Maine, Maryland
aud Wisconsin. In 1860 Missouri had
climbed to the eighth place, and the adj
ditional states which followed were,
Kentucky, Tennessee, Georgia, North
Carolina. Alabama, Iowa and Texas. In
1870, despite the war, she climbed to the
fifth place, Indiana and Massachusetts
falling to her rear. From 1870 to 1886
the state has increased 26 per cent. in
population, beng surpassed in growth
by no state of her age in the union, buI
was unable to leave behind her the
great and populous states of Illinois
Ohio, Pennsylvania and New York. anc
consequently still occupies the proud
position of fifth in the galaxy OF states
With an enlightened effort to foster i'm
migration on the part OF the press ant
the people, seconded to a reasonable ex
tent by the legislature. the growth o
Missouri, for the next decade, can b,
made to surpass that of the past one
millions of dollars can be added to he
productive taxable wealth, and, with
strong pull and a pull altogether. par
tisan politics for the time not being per
mitted to dissuade immigration, Their
nigh. be such good luck In store 10
the grand old commonwealth as tina
she would leave behind her. her rival
Illinois.
, Little OF interest has TRANSFERRED in th
legislature this week. Members are be
ginning to ieel like getting home. an
few bills have been introduced, so lrot
now until the end of the session, we ma
look for lIvelier work. Our member
are always at their post of duty, aud al
spoken OF by everybody as useful an
influential legislators.
? The associated press says that. sit
= learned upon good authority, thong
not yet officially. that Secretary She
, man intends to pay out the S. ,0oO, OC
of money received from the banks RI
y firing their circulation, and all whic
O comes In from that source In the pu,
q chase OF bonds"