Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1854-01-05
WHOLE NO. $50.

/ ttioa. While the Bank is undergoing
, an investigation by a CO mmittee ap.
boin ted by the Legislat ure for that
purpose, will refrain fl ON express
ing any opinion in regard TO its pres
ent conditio ion CT making any c' fiji
recommendation as to what course
the General Assembly on eht TO take
in reference TO its future manage
ment, more than, howevdr, barely to
suggest that the present would be a
very auspicious time TO ? pt the pin.
cipal and all the branch banks into
gradual liquidation; givin ample and
reasonable time to ali persons who
are indebted to the in4 4titution to
make arrangements for paying tho
amount they owe. The process Of
winding it up at the p resent time
can be made so gradual and easy, as
not to embarrass the indebted portion
of the community in the SMALLEST de-
gree,
a number of Banks hat gene into
Operation under law pa aFscd hy the
last General Assembly, and etbefs,
no doubt, Will soon comm bnce; which
will more than supply he vacuum
created by the withdrawal OF tho.
Bank Of Tennessee, and furnish all
the banking facilities nee He'd by the
whole business portion o the coun-
try. As the eIcapital Of the Bank IS
withdrawn, ii can be profit ably invest
ed il the bonds Of the StIttc, bearing
an interest o. six per cdnt. per an
mum, which viii be the safest and
most judieious investmeIt that cali
be made with the common school and
other funds which are d ow in the
Bank Of Tennessee and under the
control Of the State.
If the State can, in any reasonable
time, dispose of the stock owned in
the Union and Planters Banks upon
good terms, or all other st bcks owned
by the State, it would be equally
wise, safe and judicious to make q
like investment with the. proceeds Of
such stocks in the six per cent bonds
Of the State. The number of inter.
nal Improvement works which have
been commenced, and which are en-
titled to ard by law from the State,
and the great number Of others that
are to be commenced, which will re-
qHire the issuance of a large amount
of State bonds, amounting to many
millions Of dollars, will absorb the
entire capital of the State Bank and
all the stocks owned by the State, as
already indicated, which ihYestInent,
in my judgment, viii be far safer and
more profitable in the endI tlan id
any bank, State or private
PENlTENTMRY
This institution has, 50 fr, Eil,i
in all the leading objects Of its crca
ton The confinement of persons
within the p:ison-house OF prison
wallsofa penitentiary, with the view
of reforming them in their moral
character, has been proven by all cx-
periencc TO be a great error, ard it is
net row contendcd fdy as h reforming
any one who has becGmc
az all familiar with the subject
There IS not enc in every thousand
ecByicts whose moral condition IS
Improved by such imprisd dEmcnt; but
on the contrary. most Of them, il
not all. are made worse than they
we're before, and become more con
firmad in crime.
Upon the subject Of donvicts be-
coming reformed by pcnitentiary i'm
and association, DR.. John
S, Young, formef Secretary Of State.
III ail dDie ana elaborate report made
on the 18th of September, 1916. 10
the Commissioners .of public. build
ings, and by them submitted to the
Legislature, used the following Ian
guage: Il am entirely skeptical on
the subject of reforming convicts by
teaching them mechanical trades;
little or no good results from it
When the c0aciet leaves the prison,
he lays down his cap, and with il his
trade. lii locks back on both as
6adges OF his disgrace, and the com
panions cf his Imprisonment; he aims
TO do something else which he con
siders better than his trade, or re
turns to tile recommisoion Of crime
The trade, in most instances, is [
believe, serves TO better qualify ths
william without refol ming the min-