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such as are believed to have proven liencficial in other States, where the experiment has been tried. Our banking system is in its incipiency, and
cannot be too cautious in surrounding it with all the safeguards suggested by the experiences of the past, or the exigencies of the present. In all contingencies, and under all circumstances, a specie busis must be maintained. Unless this can be accomplished, it will be better to dispense with such institutions altogether, and to rely exclusively upon the operations of the known laws of supply and demand. It is feared that the embarrassments and alarm now prevalent, will induce many of our citizens to insist upon temporary legislative expedients, as palliatives of distress. All experience has proven that such legislation can only ultimate in the prodıction of fur greater difficulties than thuse it is intended to alleviate. I cannot, therefore, recommend any interference with the obligations now existing between our citizens. The evils will cure themselves, much sooner, if left to the progress of events.
As a matter of public and permanent policy, however, the present is a most auspicious time to revise and amend the laws relative to the rights and duties of brokers and private bankers. In point of fact, they cxercise the influence of public institutions, and should be vigilantly guarded. I am impressed with the opinion that when they suspend payment for any reason whatever, their assets should be placed in the hands of a trustee, to be equitably distributed amongst their ereditors. This I believe would be an eifectual check, and I know of nothing short of it which will.
The measures indicated are such as present themselves to my mind from a general review of our situation and circumstances.
The attention of the Board of Public Works has been called to the financial condition of the railroad companies, to the grade and manher of the construction, and their general condition. It is believed they will have their report ready in due time, to which I invite your special attention.
I have no reason to believe that the legislation herein recommended, will prove to be unacceptable to the railroad companies, or to those interested in the banks.
I believe the people of our capitol city, as well as the people of the State, will cordially approve of them.
There must be, on the part of the Legislature, prudence, discretion and forbearance; and on the part of the companies a hearty acquiescence in what is deemed essential to the preservation of the public credit. If all concerned will act in a just, conciliatory and forbearing spirit, all will be well.
If the railroad companies shall fail to give their assent to propositions 80 necessary as these recommended, or shall fail to comply with the existing laws, it will become the duty of the Executive to enforce the lien, and dispose of the roads to the highest bidder. In that event I respectfully suggest that it will be sound policy to authorize him to receive in payment the bonds of the State. Our first duty is to the people of the State ; we eannot sacrifice their rights and interests without a dishonorable dereliction of our plain sworn duty. Whatever we can do consistently with this paramount obligation, we ought to do, and in the most just and liberal spirit.
The act to regulate banks and banking, and to create the office of Bank Commissioner, required the Governor to subscribe one million of
dollars to the capital stock of the bank of the State of Missouri, on the part of the State. As soon as said bank went into operation, under the provisions of the above law, this subscription was made, and payment was made on account of said subscription to the amount of nine hundred and sixty-three thousand four hundred and ninety dollars and ten cents, that being the amount of the funds referred to, and required to be thus invested. The residuc of the million, it is confidently believed, can be made up from the credits to which the State will be entitled upon a final liquidation of the affairs of the old bank.
I deem it proper to call your attention to the annount of bonds authorized to be issued to the several road companies. The amount issued to each, up to the 13th of October, 1857, and the balance due each on that day : PACIFIC RAILROAD COMPANY Amount authorized
The foregoing is all that I deem it necessary to call your attention to at the present time, and I indulge the hope that the recommendations made, will meet your approbation, and be acceptable to the people of the State.
On motion of Mr. McFarland,
printed for the use of the Senate, and five hundred copies for the use of his Excellency, the Governor of this State.
On motion of Mr. Carr,
Resolved, That the President of the Senate be authorized to appoint an Assistant Enrolling Clerk to fill the vacancy existing in that office.
The President appointed
Mr. Frost called up the resolution offered by himself this morning in relation to counting the vote for Governor of this State, and also the substitute to the same offered by Mr. Wilson.
Mr. Robinson moved to reject the substitute offered by Mr. Wilson;
Which motion was decided in the affirmative by the following vote; the yeas and noes being demanded by Mr. Wilson :
AYES—Messis. Brown, Carr, Carson, Frost, Gullet, Mothersead, Morin, McFarland, Richardson, Robinson, Rogers, Rowland, and Ziegler--14.
NOES-Messrs. Hamer, Harris, Holmes, Mayo, Ilorris, kains, Sharp, Stevenson, Waddell, Wilson, and Wood-11.
Absent-Messrs. Blow, Irwin, Kitchen, Peery, Rannells, Sims, Vernon, and Watkins.
Mr. Robinson then moved to amend the original resolution by striking out “two," and inserting "four,” which was agreed to;
And the resolution as amended, passed.
Mr. Carson, on leave, presented the petition of John P. Rutter, which
Was, on his motion, referred to a select committee, consisting of Messrs. Carson, Carr, and Hamer.
Message from the House of Representatives, by Mr. Mosely :
MR. PRESIDENT, -I am instructed by the House of Representatives to inform the Senate that the House has concurred in Senate resolution, proposing to meet in Joint Session, to count vote for Governor, at 4 o'clock P. M.
On motion of Mr. Rains,
Resolved, That the Senators elected to fill the vacancies during the present session, be placed upon the standing committees of which their predecessors were members.
On motion, the Senate proceeded in a body to the Hall of the House of Representatives, to meet in Joint Session, for the purpose of counting the vote cast for the Governor of this State at the special election in August last.
The roll being called, the following Senators answered to their
Messrs. Brown, Carr, Carson, Frost, Gullet, Hamer, Harris, Hedgpeth, Holmes, Irwin, Mayo, Mothersead, Marvin, Morin, McFarland, Peery, Rains, Richardson, Robinson, Rogers, Rowland, Sharp, Sims, Stevenson, Waddell, Wilson, Wood, and Ziegler.
Absent-Messrs. Blow, Kitchen, Rannels, Vernon, and Watkins.
The President of the Senate, having first announced the business for which the Joint Session convened, laid before the Joint Session the abstract made by the Secretary of State, of the votes cast for Governor at the special election held in August last.
The President of the Senate and Speaker of the House of Representatives then proceeded to examine the vote cast for Governor at the special election in August last.
Pending which examination, Mr. Brown, of the House, offered the following resolution, which was adopted :
Resolved, That the Secretary of State be instructed to lay before this General Assembly the original returns in his office, of the vote for Governor of the State at the last August election.
On motion of Mr. Darnes, the Joint Session took a recess until to-morrow morning, 10 o'clock.
The Senators then repaired to their own chamber.
Mr. Wilson, on leave, introduced a bill entitled
An Act for the relief of the North-West District Agricultural Society ;
Which was read a first time, rule suspended, read a second and third time, and passed.
On motion, the Senate adjourned until 10 o'clock A. M. to-morrow.
WEDNESDAY MORNING, OCTOBER 21, 1857.
The Senate met pursuant to adjournment.
Prayer was offered by the Rev. Mr. Louglieed, Chaplain of the Senate
Message from the House of Representatives, by Mr. Wallace, Assistant Clerk:
MR. PRESIDENT,-I am instructed by the House of Representatives to inform the Senate that bills of the following titles have been introduced into the House, and passed :
An act to legalize the sales of swamp lands in Nodaway county.
An act to incorporate the St. Louis Domicil Saving and Loan Association.
An act to repeal "an act to incorporate the Dunklin and Pemiscot Plank Road Company."
An act to amend an act entitled “ an act to incorporate the Buchanan Life and General Insnrance Company,” approved February, 1857.
An act to incorporate the Forest City Extension Company.
An act to amend an act entitled “ an act to repeal an act entitled an act for opening public roads and highways, ' approved Jannary 29, 1857.
An act changing the names of certain persons.
An act authorizing the Scotland County Court to pay interest on money borrowed to build Court House, &c.
An act to open and establish certain State roads in Jackson county.
An act for the relief of the Louisiana and Frankfort Plank Road Company.
An act to change the names of John B. Schneetlage and John B. F. Sehneetlage.
An act, to declare Nancy Allison of age.
An act for the relief of the minor children of Branson Jackson, of Sullivan county, Missouri.
The House has passed the following resolution :
Resolved, That a committee of seven be appointed by the Speaker, on the part of the House, to act in conjunction with a similar committee on the part of the Senate, in devising a system of reventie.
The Speaker, under the foregoing resolution, appointed Messrs. Holliday, Darnes, Harbin, Johnson of De Kalb, Switzler, Brown, and McFerren, said committee.
Mr. Holmes, on leave, introduced a bill entitled,
An act for the relief of Mrs. Matilda Harman, of St. Louis county, which was read a first time, rule suspended, read a second time, and referred to Committec on Claims.
On motion, the Senate proceeded in a body to the Hall of the House of Representatives, to meet in Joint Session, for the purpose of examining the returns of the votes cast for Governor at the special election in August last.
The Joint Session was call to order by the President of the Senate.
The President then laid before the Joint Session the following communication from the Secretary of State :
OFFICE OF SECRETARY OF STATE,
To the presiding officers of the Joint Session of the General Assembly :
In obedience to a resolution adopted by the Joint Session on yesterday, I herewith liard you the returns from the different counties of votes cast