Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1855-02-03
FREE BANKING.

The superintendent Of banking in the State Of
New York, in his annual report, strongly recon-
nends the dscontinuance Of bonds and mortgages
as bases for bin issues. The amount of such secu-
ties has been increased from S5777, 577.30 TO So
7lS,248.ll, during the year. stocks having been
Withdrawn for the amount Of the difference AS
the law stands one half Of the securities may be in
bonds and mortgages.
In all cases where loss has occurred to bilhoiders
in the bank, organized under the free banking law,
the loss he says has arisen from the nadeouacy of
the security from bonds and mortgages.
In the matter Of the Eighth Avenue Bank, now
defunct the superintendent reports that the capital
was never PAID up. Ofthe 500 900 nominal cap
ital, "S43, 800 made up by the notes Of the d.
rectors, which have not been paid" The directors
were found TO be indebted to the bank for loans
and overdrafs over SOS, O00, making the total la
bilities Of the directors about $50, 600 The bank
owed to depos.tors about $4,000, of which S27,-
S0l27 was due TO depositors who had deposited the
same as a savings bank, and for which the bank
had agreed to pay interest The bank, says the
superintendent, seems TO have been established for
the purpose Of borrowing money under the pre-
ed to loan it to the directors or allow them to draw
it out on their own responsibility
The superintendent states that fraud and col
lusion have been attempted and practised in the
management Of the affairs Of the Lewis County
Bank, If even more heinous offences have not been
committed against the public and the laws It fall
ed in November and has bills in circulation to the
amount Of 1922 O52 No securities are held by the
superintendent aud unless the stockholders aud d.
rectors are made personally liable, it is feared that
the bills viii be a total loss. From this statement
It is inferred that the Attorney General win pre-
coed against tie directors and stockholders.
LETTER FROM AN OLD LINE KNOw,yoTHING.
The following letter is said to have been written
by an old line k. ", member Of the Massachu-
sets Legislature to lis son. 1t is the best thing
OF the kind we have vet seen on this subject:
BosroN, Jan lG, 1855.
SoN john: l have too much legislative worl; to
come home on Saturday nights as | said I would
30 You must mind the farm | have mansred TO
get a good many committees, so as TO become
popular by having my name printed oftener in the
papers and manage to say something occasionally
and l have seen my name 3 times in the daily bee
American principles Is looking up some here in
Boston and we are going to diScord all iorign eli
ments in our government 10y the way have the
barn door painted over with some other color be-
sides Spanish brown. don't Ike any thing Span
ish) The governor has made lick at the foreign
MALTA and dis5anded al the companys. don't use
any more British Oil tor your deelness for have
thrown away that box Of Russia salve your mother
put in my trunk TO rnb my rumsticl leg with, use
American phYsiC it is the best) We are going 10
have the latin lingo taken Of the state coat OF arnes
and put your plan yankee english in its place
We are going q head tell you, and make clean |
swoop oteyery thing OF foreign extraction. l have
visited no place of amusement excepting the live
butlaOO which is regular native lie looks very |
much Ike hairy cow. Speaking orcows reminds |
ofour Durham bull you may sell him to Wade
the butcher, he IS OF Greign extraction 4 friend
asked me to 90 to tie Athaneum and see the libra
~ and piturcs but was told nearly all the pictures
are painted by the old masters IS thcy are called
and these besides many Of the books are in forign
languages SO it IS contrary to the spirit rrinci-
Piles TO visit such pace. was gong to see Ban
wards great painting Of the Holy land which is
making some stir but native artist told me it was
mostly painted with ! enetiaG red Dutch pink and
Naples yellow while all the skies were Prussian
blue, too much olthe iOrign clement 10 he inter-
esting to me. By the way speaking of paint have
the front blinds which l had painted with French
green last fall painted some other color other than
l mentioned above. Stop the lions Herald and
take the Yankee privaeer in lis place. Give ny
Marseiils vest to dick the plowmau and tell him 10
stone Jp the scotch terrier Of the farm ard to kill
that Maltese cat
from your afectionate father