Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1854-02-03
HOUSE-MoRSrNe SESSION.
THuRspaY. Feb. 2.

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sli ile 7 -- -s u tH-4 % ii4
taa HOUSE-NoRSINe SESSION \
- THURSDAY, Feb p
The House met pursuant to adjournment, and
the journal OF yesterday having been read, = \
Mr.. Holmes presented memorial from the
Grand Jury Of Shelby county. Referred to the
Judiciary Committee.
MIR. Erwin: petition from citizens of Harshire..a
Tenn Read and referred to the judiciary Com
mttee. I-1i''1- = = =
Mr.. Mabry, Of Knox: memorial from Sanl
Martin, which was similarly disposed of. = "a
MIR. StovalE a memorial from citizens of Obion
embracing report of negotiations for cesson of
Territory from Kentucky, by which il appears that
the negotiation fails and the cession VIII not be
made. Read and transmitted to the Senate
Reports were received from the Standing Com
mlttees on various bills, petitions, &c which will
come up in the regular order of business. -
The industrious chairman of the Committee on
Enrolled Balls, reported another long list of 1bills
which had been examined and found correctly en-
rolled. = .7l
Mr.. Wood, of Cannon, presented minority re-
port from the Committee on the Penitentiary with
bill to lease out the Peniteutiary and change the
present system Of labor. The bill was read and
passed LIST reading
3 Mr.. Wynn offered resolution that the Com
mittee appointed to investigate the Bank afflrs be
directed to report speedily as possible Lies over
MIR. Cooper introduced bill to secure the pay
ment of County debts. Passed first reading and
referred. . :
Dir. Harrington: bill to incorporate the Bluff
City Mills, for Cotton and Wooden and other man.
ufactures &c Passed first reading.
Mr.. Richardson entered motion to reconsider
the vote rejecting the bill to pay for Record books.
Lies over Fl
Mr.. Wynn a bill to protect the property of
married women. Passed first reading
The House then, on motion Of Mr. Holmes. took
up the bill to charter the Western Bank OF Tennes-
see, 0he Bluff City Bank) with an amendment
chartering the Bank of Chattanooga y
MIR. Steele offered an amendment to make liable
the property Of Stockholders for the debts of the
Bank. -
The Chair ruled it out oforder, as rider
Mr.. Steele appealed from the decision of the
Chair, on which Mr.. Mcknight called for the AYES
and noes, and the House reversed the decision of
the Chair, ayes 80. noes SO; and,
Mr.. 3 eele made some remarks in support of his
amendment he thought that the insertion of the
individual liability clause" was necessary and
proper to protect the holders of notes and claims
against the Bank. lasa1a {lFT
Mr.. Temple remarked that there were two min
ciples embraced IN the amendment, one of which Z
reserved to the Legislature the right to repeal the
charter at any future period. He mov,rd TO aInend
by striking out that portion of the amendment
MIR. Richardson thought it useless to be Offering
such amendments, when the House.. on the second
reading OF the bill, had shown determination not
70 ADMIT tnem but to act on the bill purely on its
own merits. He was opposed to the amendnient b
And Mr.. Lamb called the previous Question which
was withdrawn-after much confusion. several GEN
temen addressing the chair at once, and some ex
element being manifested Mr. Clemens moved To
lay the amendments on the table which motion
failed. Ayes, SO; noes 81.
And the question recurring on Mr.. SteeTs amend
ment as amended by Mr. Temple Mr. Harrington
showed that the amendment was unnecessary, the
liability clause being already substantially EN-
bodied IN the bill 1t was plain he thought. that
the object in offering the amendment was to stran
gle the bill He deprecated in strong terms sncb
course. Fight the bill on its own merits but fight
it fairly.
Mr. Smith, of Davidson, replied: He thouobt
the bill did not afford sufficient security to note
holders He was friend of the Free Banking
System, and was opposed to charterinr auv RaskS
possessing privileges which were not granted to the
Free BANKS. Stock Banks conld easily issue notes
on the basis OF stock which PERHAPS lad rot been
paid in, and the note holders had no means toLas-
certain the facts. Mr. S strenuously opposed the
Dill cEarterlng Stock Banks was calculated to das-
troy ina free Banking system, and he called on ey-
cry friend OF the latter, to vote against the bill
Mr. Holmes took the floor in support of the bin |
and IN opposition to the views offered by Mr. smith !
He proceeded to show that the Free Banks did not !
afford sufficient facilities to the commercial Interests
and moreover they tthe Free Banks were mere
cloaks to cover up Brokerage business The gen !
tleman from Davidson had talked of issnino hills
two for one-he would tell him that the Free Banks
were issuing three for one if the former practice
was useless, the latter more SO. Mr. H. thouoht
1t unnecessary to repeat what he had formerly said
as to the great want of Banking capital at the most
important commercial point in West Tennessee
lie hoped the amendment would not pass and that |
the House would vote directly on the bill. -ie-
Mr.. Steele made some remarks in repIv 10 Nr |
Harrington, and Mr.. Brown, of Monroe continued |
the discussion. The provisions of the amendment
were not new; they had been engrafed in the char
ter OF the Lawrenceburg Bank He was in favor
OF Memphis having such banks as she wanted but 7
he wanted them safely guarded. - I
Mr. Lamb arose toaeorreet a statement OF the
gentleman from Monroe, and made some conc.liato-
ry remarks. His friends from Davidson and Shelby
had got little warn---al wars-were more, or less
uncertain, and he hoped gentlemen would take il i
cooLy. He did not wish to hurt the free banking |
system But he would tell his friend from David
'on what he did want; he wanted Memphis 10 be I
reed from the control of Nashville MeDlnhis had
been too long like Miss in pantalettes. kept in
eading strings by Nashville. Let her try for
while to manage her own financial affairs and
'apking business, and if she does not do it well
hen check her up a little. faa+ H.
Mr.. Lamb proceeded in a very calm, but forcibe
manner, to point ont the great inconvenience re-
ultlng from the fact that Memphis and other points
n the State are entirely dependent on Nashville
or every dollar of Banking capital and deprecated
ny little piques or jealousies being suffered to en-
er into the question
Mr. Smith, ofDavidson, replied to Mr. lamb
he gentleman had spoken very insinuatingly. but
e had notmet the argument. He (Nr. 81 had
ot opposed the Bank at Memphis as local mat
err but their issues would go all over the State and
wanted to adequately protect the holders Of these
otes. He referred TO the loss eccasioned by the +
allure of the Bank at Memphis some years go
lie wished to guard against such results in future
e had no local prejudices in this matter He was
citing on broad principle. "a. ....
Mr.. Smith continued isremarks at some length; !
the course of which it did not appear that there
larks of Mr.. Lamb had produced any very cool
lg effect on the gentleman from Davidson /.
And on motion of Mr.. Harrington the House adj
urned until two o'clock