Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1857-09-20
DANKs. AND RANKING.


The suggestions contained in the following interest
ing article, TAXED from tie Cincinnati Commercial,
is Of general application, and deserves careful
perusal:
The eviIto be overcome, as an must admit, is one
of great magnitude, and perhaps no iusteryiew can
be given of lis extent and viruleuee than BY glance
at the occurrences of the last two or three weeks
moneyed institution Of vast capital 1.-THE Ohio Life
Insurance and Trust Company enjoying the almost
unlimited confidence, not only OF the community
where il is situated but of the financial circles Of
the nation and the world-holding in lis vaults the
surplus means Of thousands OF active men in every
branch of business and the savings Of thousands Of
the laborious-believed TO possess untold wealth and
keeping up that illusion by the payment Of large
semi annual dividends to its stock ollers-repre
sentinr in. the extent and magnitude of its opera
tons and the digniied department Of its conductors
the arisoeracy Of the moneyed world-in the height
Of its apparent prosperity, at a time Of almost I'M
precedected ease in the money market with no
known loss by the way Of its legitimate business,
and without word Of preTronition, closes iis doors
and is found to have descended 10 state Of utter
and hopeless Bankruptcy. Investigation discloses
rotteuncss; or that n5i9Hg from which rOtlenncs
too intense for sudden exhibition is be inferred
Capilal gone-millions sqgsndered-the semuifr
of solyeucy kept up by eXpedients at once costly
and imm0ral aud ia the very face Of the fact that
a failure was inevitable the moneys of the enter
urisinr and industrious drawn Ia and sunk as in
maelstrom whose sense Of honor was as obtuse
as its appetite IS unsuitable. The picture would be
incomplete without the mention Of other institutions
its llites and as Notwithstanding together in
common ruin and yelling their heads in the dust
that arose when its destruction was the signal for
their own
The failure Of the Ohio Life Insurance and Trust
Company was no accident Il was the result Of the
action OF causes perfectly adequate to It's production
| causes which, in large majority of cases, viii
produce the same result. The agency by which IL
! was ACCOMPLISHED may be described IN one word
! GAMBLING. They who best understand the opera
ons Of The stock market in our cities, are able to
find no other term to describe them with equal accu-
racy The tricks tactics and casualties of exchange
involve in hi "a degree that mixture of inevitable
chance and opportunities Tor the employ ment Of
! skill which makes gambling 1T once the most Sc
| ductive aud mos. dangerous Of oscupatlonsi while
the vastness Of the stakes and the large number Of
persons whose interests are directly or lgtlrecty
involved In the operations, give to them tn8aQpa5r
ance of dignity and importance which serves. ~ o
great measure TO keep cut Of view their real ImmJ-
| Ta}itv Nevertheless The Spectator IN stocks Is q
! ramber; his morals are the gamblers morals, aud
MS fate the gamblers fate. Success for time may
attend his enterprises, but IL IS only that his Huai
overthrow may be the more certain and overWhe!Il-
iur The vcissiju3es OF the calling serve TO oahLe
rlie all sense ol business honor, and feeling OF re
spect for the egcss aud confidence OF others; and
consequently The catastrophe involves not merely 2
pecuniary insolvency. but bankruptcy otreI ut4tIon
aud character
The loan aud deposit banker is by an organic
| law of his occupation, q trustee for the business
| community. When ne receives the moneys Of his
customers he does 1t upon an implied contract that
he will not permit tn to be diverted from the or
binary channels OF trade. Il is of Importance 10
the traiesman chat those funds Of which ne does not
require the immediate use, may not only he kept