Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1853-02-24
A Bank at Faycll rriIIc,

effect that there was likely to be es-
tablished at Gorncrsvillf, IN Giles
county, bank under on in compli-
ance with tho provisions Of the Free
Banking Law, passed by tie last Leg
isl5ture Of Tennessee; and having,
ais %, heard something said about the
establishment of another at this
place, by oar capitalists, together with
noticing some Of the bills of the
Murlreeslor9ugh bank being in cir
culation in chr midst, has, altogether.
reminded US Mat Il is probable our
readers would be interested nitbabrief
reference to The principles on which
this new system of Banking is based
Before doing this, However, We may
sly, Since capitalists have availed
themselves Of this law, and we have
actually two banks ID operation under
it one at Murfrecsborougb, and the
other at Knoxville The law itself
ha Is become the subject Of inyesilga-
ton; an / in every instance that has
come to- nr knowledge, met With decid-
odappr9 val. All agree, that If it is
possible to secure note boIdelsagainst
10 IS under any system Of la hiking, it
mus The unaerthat Of the Free System
It is cd Intended that it is guarded at
every boint, that all neetlfll checks
aid Sd culi,iqs against abuses and
losses fdr the W mt Of Which, mostt
other s. stems are greatly at fault
are wis4ly and iadiciously engrafted
ii the frse Banking System Of Ten
nessee. The privilege or possibility
Of issuing and puttih4in circulation
IN and unt' Of bills fAr beyond the
capital invested-three to enc. as is,
perhaps The practice Of many banks
is d4nied or cut OF by the Free
Bausting System.
wh2t theFe are abl ndant means in
our midst to establish such bank at
Fayetteville, there is 20 question; and
il IS. equally true that it would prove
a convenience to many Of our citi-
zen4 and keep at home fiIe profits
arisi ng and going into TIE pockets of
othd rs in accommodating Lincoln
.coai lty Nth the banking facilities
she is annually in the enjoyment o.
Ouf present situation compels the
trad ing men and all others of our
coahty to be dependent upon Shelby
yiIg OF some othqr point at which
4heFe is a b9ak, for accOmmoda t ], ;
..,;sb ~ eafStal c.tn|and should afford
nnder tbo Free Banking SYSTEM In
a9.jition 10 the loss sustained and
- Inconvenience i'd be met with in
IT
emf Limo j hers to reap the IIf9fits
CD, o,,r ranking custom, we al the
a.,i,E.ots Of their capriee, and 4iten
the dup pes and dependents upof the
,,5ires or fayorsIof specul ting
i, DIRECTORY. Hy this, We mean,
:. rooms Il he 4 discretionary batter
In = hoard Of directors, whether
theb viii accommodate US or ri !,
snt,,.i,oas IS the bank at 81 tlby-
..;,1s has fraouentlyIaone, refusEh g to
:; or,nt i GOOD ripper as cofld BE
presented, 10 the 9q'"i N'1 9Tt
oud guaranteed rights in that lis y
tn1;an We are ND bank met haYe
a y Us been oppo9q Cd to banl an
roIl1 offer many gqod re.sonF Why
IA hanks curse TO the work
~ eommIInity: yet as nov condi-
.;ohe1 We are forced to participate
in the evil forced 70 ass'S. ! AY'F
ing such i stitutionS ~ 9N,s a.Ehl;.h-
consequent y, We iaFor 'ne . DE-, De-
dnt af ! banlx under the Free Bank
~. system at Fayetteville, be ieving
rs We DO t bat this cnafae'ei ,4 ~ :
is, perhaps tie oeT' We 81" P r. W.,
We therel9 re hepe pur ca ~ : :,
see to this matter Rna not ~ = CIV
:. IN AS indicated in THE com
= ,,ooaep of this article, It vas
- srsly out purpose TO give II E lead
t ~ f3.tur es Of tie Free Blinking
q, ...e,p. al ID no to urge the propri-
7 /. e Isl abI:sI,iiia bank Rt this
- n