The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1850-01-18


MIR. COBB AND THE COMMITTEES.
The Washington correspondent of the N.
York Tribune, has the following statement
in reference to the dissatisfaction felt by
Mr.. Cobt's friends. in relation to the or :
ganza,on of some of the Committees:
"The Speaker of the House OF Repre-
sentatives has created more dissatisfaction
among his own party friends from the
South, in the formation he has given sew
eral of his Committees, than has vet been
expressed by any OF the Wings"
The appointment of three notorious Abo
lionsi~. Giddinas, Al len ard Root, on the
three important comui''eos OF III" Jnd'cia-
nv, Territories and DISTRICT of Columtia,
surprised US not lite, and we have been
patiently waiting to see what The organs Of
the democracy at the South, who have been
so vociferous in their affected devotion TO
the South, would say on the ubject. But
as yet, no murmurns OF discomfort has
escaped lhem-some even of the most
clustering. have expressed themselves per>
(eclly satisfied with The constitution OF the
committees.
This is not at all strange TO US, for we
have long been satisfied that these brawlng
demagogues only sought to make political
capital out of the slavery question:; hence
any act performed by Democrat must be
acquieaed IN silently if not approvngly
while il Wing had been guilty of th"
same act. the thunders OF their denunca-
iions would reverberate through the country
for months. No term of invective or re-
proach would be too strong TO have IN
rppied to Wing Speaker who had con
si,uted those committees as Mr.. CORB has
1t may be that the ntelgen, men el the
South may be guIed yet II'le longer with
the hypocrlical professions of these dem
agogues, who affect such devotion to her
rights and institutions. but we greatly
mistake the tone of public sentiment II
their career is not short one.
The FREE BANKING SYSTEM. - The
State OF Tennessee, it would seem, is about
to adopt the Free Banking system, now in
operation in this State. The outline of the
system is stated as follows:
An association ofpersons, or sing lie one
purchases 100000 or more o! Stale stock
This is deposited with a Commissioner o.
Comptroller, appointed for the purpose
who shall cause 10 be engraved and prin'
ted at the expense of the party applying
notes of the nature of bank notes to the
amount of said stock, (ln some project:
only 90 per cent. OF such stock. counter
signed by himself, and 10 be signed by the
officers of the bank where the same are
PAYABLE. Then follow various provisions
of security. The advantages TO the tanke
is as follows: He draws his interest or
the State stock deposited, say 5per cent.
and loans out the notes based on this stock
| at 6 or 7 per cent.-suiliclent to bear en-
ppnses Of banking house. officers, &c.
The security to the note holder is, that the
Comptroller will be always able to pay the
whole issue in State or U. S. stock. the
law SO guarding it as to prevent greater
issue than is provided for by it. This sys'
tenn, while it IS the most safe Of any ye
deylsed for the note holder. is more proiita
Bile 10 the banker, and more beneficial 'c
the country. by making the State stock
safe circulating currency capital Tor the
business of the people. The Tennessee bill
provides payment Of 25 cents on every
slOO, for school purposes in lieu of every
other State tax.