The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1857-10-30

Dowx on THE BAsKs.--The Nashville
Union and American is down on all banks,
and goes, per consequence. for an exclusive
metallic currency. We will do the Union
and American the compliment TO say that as
partisan sheet ii has no rival in the State
that it Is some in the discussion Of grave
constitutional questions" and that for dodg-
ing points and avoiding facts it looms up a
full head and shoulders above all its cotem-
poraries. But we have serious doubts Of the
financial skill and wisdom of its present writ
ing editor, and Of bis ability, even with the
advice and consent of Governor Johnson, to
devise scheme that will prove free from the
more solid objections now urged against
banks, or that will prevent embarrassments,
arrangements and revulsions in the mone.a-
ny and business affairs of the country at times.
Under the United States Bank we had a near.
er approach to such system than has ever
existed since Gen. Jackson commenced war
upon il; but that institution, with all its pow.
er, (and its enemies charged that it was i'm
mense,) was inadequate to control the mo-
MED affairs Of the country, and prevent re-
WILSON'S in business and trade. 1t furnished
one thing, however, which we have never had
under the system inaugurated by the Demo-
cracy-a currency upon which you could ira
al - vTnfnp In ha har
without being shaved-wheTeas under the
system established by modern democracy
the men who came to save The sountry from
the evils of n rag currency-the unfortunate
traveller is shaved from 10 to 20 per cent. at
every State line he crosses. Our present
banking system is to some extent wrong,
and, no doubt, may be improved upon-but
the idea Of abolishing banks altogether and
developing the interests and conducting the
business of this vast country upon "hard
money currency" is too absurd to be serious.
~ entertained by any one who has given the
subject even casual consideration. There is
q panic prevailing all over the country now,
the banks have been forced to suspend spe-
Gle payments for the time being, and every
department of business and all branches of
trade are more or less embarrassed and de.
ranged. The people-the great masses, who
dwell, not in cities, towns and villages, but
among tho hills and hollows, and along the
teeming valleys, where industry and honest
simplicity 60 hand in hand-have been taught
to believe by Shiny -moutbed politicians and
penny-a-Iiars that The country was on the
broad road to substantial prosperity-but
crash has come-unexpectcd by the greater
number-and somebody must be held re-
sponsible for it, justly or otherwise. The
banks and other incorporated interests, pre-
sentipg the largest mark, there is, of course,
avery general disposition to pitch into and
saddle the whole blame upon them. Wheth.
er the presses which, at such juncture, stir
the public prejudices and seek to WELD them
for party purposes, are engaged in laudable
business, is not for us to say. But in all sin
certify we think they might be much more
honestly employed. The present, when the
public mind is excited, and incapable, to a
certain extent, of taking an unprejudiced
view of the subject, 10 no time to wnge an
indiscrimlnate war upon the currency. If
the Democracy have any improvements to
suggest-if they have any feasible remedies
for the evil complained of-let them bring
them forward. But don't be humbugging
honest people with the idea that If the banks
were all abolished, their pockets would be.
come heavy with the precious metals, or that
labor of any description would be half so
remunerative ns it is now.