Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1855-02-01
From the Chattanooga AdSastiser.
The Banksof Tennessee

We learn that systematlc euoft
is being made in different parts Of the
country,by designing swindiers,to re-
port that certain Banks have Iailed,
With view to profit by the panic
thus produced, in the purchase fthe
notes at "a discount. In one Place it
Will be reported that the lkpsks OF
Dandridge has failed, in another that
the 0ceee Bank has suspended, in an
other that all the Memphis Banks
have gone by the board, and again We
hear the rumor suddenly started up
that the Bank Of Chattanooga has
stopped pay ment. We, Of course.
cannot speak of our own knowledge
Of any other banks than those at
this place, nor do we pretend to en-.
dorse for their soundness, though We
have no hesitation in warning the
public against giving credrnce to ru-
mors Of $ uch character, when the
innocent holders Of the notes are on
ly sufferers, and those propagating
the reports and afterwards purchas-
ing the notes, the only persons who
realize a profit.
Since the professed Bank Note
Reporters have proven 10 be entire
ly unreliable in their statements as
TO the value of bank notes, their val
ne being set down better or worse,
according to the bonus paid or de-
posted, to secure a favorable report,
we think it the duty Of the press eve-
ry where to procure and furnish to
the public reliable information upon
this subject, so that the hard earn
ings of the poor, who cannot have
much personal knowledge Of the true
standing thanks, may not be filched
from them by designing shavers.
So far as the Bank of Obattanoo-
ga is concerned, We have no besita-
ton in saying, that there isnot now,
and meyer was a safer or more relia-
BILE Bank in Tennessee. There ney-
CT was more respectable body ofmen
comprising stock holders, directors
and officers in any bank, no matter
where located; and there is no bank
in the Union more fully able to meet
all its liabilities at any moment.-
In addition to our own knowledge
derived from the character of the par.
ties having the management of the
Institution, we have made special iu-
quiry, and learned that during no one
month since its establishment, have
their notes been presented for specie,
to the amount Of one-tenth part OF
lis par funds on hand, and that the
amount of specie constantly in the
vaults of the bank, has been at least
three times as great as usually kept
by banks 20 protect such an amount
of circulation. and more than five
hundred per cent more than the bank
has ever had occasion for, in the re-
demption Of its issues. This much
we have said for the benefit of per-
sons in distant localities, who can
not have access to correct iDforma-
ton, and who are thus liable to I'M
positions of the character alluded to.
Here, of course, the notes Of this
Bank are regarded as equal to coin.
AsIAre CHoLERA.-Mr. Walsh, in
one of his recent letters from Paris
to the New York Journal Of com-
merce, says-.At the sitting Of Nom
day week Of the Paris Academy Of
Sciences, the Committee on the very
numerous Communications respectr
ing Asiatic Cholera, reported that
not one of them deserved to be taken
into consideration. Since lS49, a
prize of a hundred thousad francs
has been offered in vain, for a pres
cripiion which would cure the disease
in the immense majority Of cases.
1t will now be given for "a positive,