The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1854-09-08
THE BANK WAR ENDED--THE BANKS
OF EAST TENNESSEE.

the difficulty between the old and the Free
Banks is at an end. We rejeiced when we
saw the announcement in the Nashville Union
that the war was over. We were well con-
WINGED that such a state of affairs could not
long exist without serious consequences to
the well-being of the public, and to the Banks
themselves. Such a contest amongst insti-
tutions all of which are so solvent and strong
as those of Tennessee, can be described alone
as being mostsupremey ridiculous and fool.
ish. For we maintain the fact that no safer,
sounder or better Banks exist anywhere in
the United States than the Banks Of Tennes-
see. And that Tennessee Bank notes are as
safe circulation to the holder rs gold and
silver coin itself. The Banks of East Ten
nessee we knoD to be good, and we assure
our readers at home and abroad, that no safer
medium of circulation can be found than the
issues of those Banks. The Free Banks of
this end Of the State are, of course, safe as
their issues are guaranteed and secured by
an equal deposite CT State Bonds in the
Comptroller's office. The Branches of the old
Banks in East Tennessee are, of course, good
as the experiment of many years has proved.
The Banks more recently chartered are rs
safe and reliable as the Free or the old Banks,
and the holders Of their issues are as securely
protected MS those Of any institution. We
allude to the Bank of East Tennessee, the
Ocoee Bank, and the Bank of Chattanoo-
ga. Indeed the notes of these Banks are
better circulation to the people of East Ten
nessee than that afforded by the branches of
the old Banks, because the former issue their
paper at home payable at their counter, while
the latter throw out upon the community
circulation payable in the Western District
and Middle Tennessee. But Independently
of this, ample protection is afforded the note
holder of these new Banks, from the guarded
provisions of their several charters, and the
high character and pecuniary means and in
fluential position Of the men in the manage.
ment of them. The Bank of Chattanooga was
established at the recent session of the Leg
islature to afford larger facilities to the CON-
mercc of that growing city, and the increasing
demands Of the surrounding country. That
institution is in the hands of Capt. James
Williams and his brother, William Williams
East Tennesseeans by birth, by education,
and by interest. They are men of high
character, have long been connected with the
commercialinterests of this end of the State
have large private means, and have too high
regard fo- their own reputation to suffer
failure in any business in which they may en-
gage. The public need have no apprehen.
sions as to the issues Of this Bank.
The Ocoee Bank, at Cleveland, was also
established by the last General Assembly,
The thriving, commercial county of Bradley,
with its large trade in every variety of pro-
duce, demanded more extended Banking IA
ciities, while the extraordinary developments
of copper and the immense shipments of that
ore to New York absolutely required the es-
adjustment Of Bank at Cleveland, that be-
ing the nearest point on the railroad. The
stock was taken by Messrs. Galloway, Water
house and Congdon, men largely interested
in the mining district, by R. G. Jackson Esq.
of this place and some others, men Of extern
sive private capital, great business reputation.
and closely identified with all the best inter-
ests of this end of the State. We know that
this Bank is doing business alone upon bust
ness paper--that their circulation is invested
in short Bills on New York and the Southern
cities, and that the paper as it falls due is
promptly met, and affords to the Bank fund
for redemption superior to coin itself. We
consider this Bank one of the best in the
State, and its notes as safe and reliable cir.
culation rs any other.
The Bank of East Tennessee has already
been sufficiently tried to give the public as
surance Of its soundness and reliability. It
has been in existence seven or eight years,
and during its history passed through crisis
which but few Banks could safely meet
through storm in which nearly every note
of its circulation was blown back to its coun-
ter and faithfully redeemed. This is the
best evidence of its soundness, and the pub
lie need no other.
In conclusion, we repeat that the CONNER.
cial world at home and abroad need have no
fears of any East Tennessee Banks. Their
notes are as good as any in the United States
and they are each and all under rs safe
and judcious management as any institutions
of the sort in the land.
SAVANNAH, Cain the News of the 4th,
we find bills of mortality for three days
the 3D., Sd and 4th. According to these the
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