The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1857-04-03
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THE RUN UPON THE BANK-REpORT
OF HE COMMITTEE or EIGHT.


THE RUN UPON THE BANK-REpORT
OF HE COMMITTEE or EIGHT.
To all The World and me rest of Mankind:-
The undersigned, citizens OF Little Med
ellington, appointed committee by the meet
ing held yesterday at the Bell tavern, have
had the subject Of the pressure In money
matters now upon us, under earnest consid-
erniion, and beg leave to submit the following
report:
Fhst we premise to prevent all cavil and
criticism on the part Of certain persons who
are disposed to laugh at the idea of town
meeting, even 10 Little Meddlirgion, giving
direction to the public sentiment Of the coun
Try upon money matters so as TO remedy the
evils under which the people are groaning,
that there are folks in every community who
are not half ns smart ms they think; that in
this instance the men who are sneerinp at the
action OF the town meeting, are smartlnp
under the disappointment of not being placed
upon the committee; and thut this meeting
was not gotten up at the instance of any one
directly interested in the Bank, but was the
happy suggestion Of some of our most enter
prising citizens who nre anxious to push Little
Meddlington (and theinselves) forward in the
public notce-citizens who feel the necessity
OF doing something, and who think they see
now they hare done il. Therefore we are not
ashamed, laugh who may.
Ours is n country Of immense resources,
and just as they begin to be developed, we
are on the verge Of general distress aud wide
spread ruin. Any man who will read Simon
Suggs on the"Frll box" will be ut no loss To
trace our present condition to its true source.
Faro Banks have multiplied in our State to
an unprecedented extent; they have made
money like rails; times have been flush with
the bankers; they have lent money to their
friends whenever called upon; spirit of wild
speculation has sprung up in I.ttl. Meddlinp.
TON; our people have purchased goods, butt
brick store-houses and even commenced Ia
erect steam saw-milI upon this borrowed
capital, relying upon further loans to meet
their liabilities. Everything seems to be NOV.
ing on swimmingly, when 10, right in the
midst OF this state of things, the Monte and
many of the Chuekaluck Banks have engaged
in an uncaled for war upon the old Faro
Banks-plnyng the white check game, and
every time they run stack uptn five dollars.
drawing out the money and sinking it. These
Faro banks ARE sound and solvent, and in
almost every instance are the onlv banks
lending money md relieving the wants of the
community. But the season of adver,ity has
trowel has ceased tn ring from the
walls OF the brick store-the boiler lies rus,.
ing mt the site of the steam w.mil-pinsinp
and feathers, dried apples and voober. pens
in word, every article of trndr 10 the Little
MrddIington market has declined. General
gloom and emptiness of packets pervade the
entire commercial community Of Our lately
fl"urishing town.
Without intending any inyidous distinc-
tions, we give as II sample of the lucky runs
now being made upon our best institution, the
extraordinary run upon the Branch of the
Bengal Tiger in this town. Within th. las,
twenty nights our information is-nnd We
deem 1t rrinble-that from four to five thou.
sand dollars, have been drawn from tue SAT.
of this Bank. These runs cannot break III.
bank or drive it to the will, but have forced
i TO curtall and may compel it to cease entire
t. loans, and thus bring upon the community
l universal panic.
Now the Faro Banks had perfect right to
'efusr to turn for Mexican clipped quarters
1t more than their true value; and although
he Efforts of the Monte dealers to force them
q do no, have, through the assistance of some
IT the native Chuck dealers, subjected them
o some temporary Inconvenience, and even
oss, yet the citizens OF Little Meddington.
who have probably been the grentest suffer
RS, and the public generally, initiating onr
lisinterested example, will sustain the Bengal
Tiger in any evasion and even suspension
u It's own honest debts, so It continue to
fford us the necessary facilities and accom-
nodutions for the transaction of our bust
less.
1t is more in anger than in sorrow, that we
ome now 10 spek of the Chuck Banks 81
These banks were organized ut n very early
lay. The committee regret to feel called |
'pon TO say, that with few honorable excep-
IONS, the Chuck Banks Of the State of Frank
and have fallen into the hands OF Gamblers.
md instead o: benefiting, are actually oppos-
ng the people. As n COMMITTEES, looking
'lone to the best interests of the country.
and squirting slightly ut our own,) we feel
bound tn call pub ic attention to this subject.
md to suggest to the people Of every county
Irrespective of PARTIES, that these concerns
frequently use loaded dice, and will not lend
nut led, except at tn. most exorbitant rates,
md then requiring deposit of ut leaat double
The value Of the loan in the way of eollaterals.
Lei us demand their breaking up or snch
ms will secure the "facili,i,s"
needed by the people, and force them into such
. line of lonns and the transaction of such
legitimate banking operations rs their tolcra.
ion originally contemplated.
We beg leave 10 suggest to the common
people, such M farmers, mechanics and ira
i'rs. the propriety of making their deposits
'nlyin the Bengal Tiger, from which we cnn