A little further information regarding the deign of the flag:-

Lyon's Fahnenwacht.
The first and third line are written (according to the Anzeiger des Westens, April 1861) in german Fraktur letters, MISSOURI VOLUNTEERS., as an "american" word, in capital latin letters.

and the presentation of a reproduction of this flag:-

https://www.facebook.com/holmesbrigade/videos/117222061692805/

also the 3rd MO flag in the Missouri State Capitol bears no inscription whatsoever.

Alan thrower
England