Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1857-12-24

teriere Pass your BILL and force these banks to
resume at certain period; let that period come
round, aud the consequence will be- that the banks
will fail and the OF the people will be paralysed.
l believe, sir, that all our State banking insitu-
lions are founded in error. believe that all Slate
banks are unconstitutional and irregular, because
cannot their notes three hundred yards from The
/ smoke of my chimney. But ] have no time to argue
this question. lam IN favor Of an easy, and grad
ual liquidation of all banks SO not to Cypress
the country and l am in favor Of coming down TO
a hard currency or something better than the cur
reucy we have now. State banks were OF little use
beyond the line Of the State in which they are 10
Gated, and the losses arising from such system
have therefore, involved the country in such disasters,
that am obliged to con ;lude that the whole system
is unsound and worthless. The system in our State
| is especially defective.
| But this is not the question. The whole of the
issue is whether will relieve the people, put
| them to the scalping knife If we take the banks
by the throat and demand their life blood, where Is
that life blood from Is it not the life blood
of the countryl Sir, l am for such measure of
relief would legisae for the certain and substan-
tial benefit of the whole country.
Gentlemen upon iAe other side of the House, have
/ INDUCED in wholesale abuse Of the banks. They
have called them swinding shops, and bestowed upon
them every other epthet that could depreciate them
in the estimation OF an honest high-mioded commu-
nifty. 1 would say to gentlemen, that the employ
| ing of such phrases here, must be regarded as a
| mere matter Of TASTE Such phrases, however, do
suit my taste lido consider il in good tasteto
| denounce banks in this lndlscrlmInate way. Ny
! acquaintance with them authorizes me o say, that
you may find amongst these institutions men OF the
most honorable ana high minded stamp, who have
done the State good service IN field and forum.
Should we then turn round aud denounce such men
say to you sir, such course does not al all com
port with my ideas of just criticism. STILL # II
suit gentlemen TO do so, let them go ahead. We
shall whether they can continue to be elected
| upon such issues, and upon such programme OF
action and pleadiDgs.
| MIR Speaker, | hal not intended to say any thing
upon this bank question. There is no new light TO
be struck out of it. There is but one plain track
for pursue. 1t IL of place here, TO discuss
The eOnsttutionality Of our banking system. am
prepared to show, however, that It Is wholly indie
feasible uader the Constitution OF the United Staes
believe the attempt to supply the place of legiti
mate, hard money currency with bank bills, is all
nonsense: but that is BOT he issue.
We have three classes Of banks-StoCk Banks,
Free Banks, aud State Bank My friend from
Bradley calls the State Bank the peoples bank. But
| his party have continued to denounce that bank,
and vino knows but ia two or three years hence,
| they will take off the grey head Of the venerable
gentleman who has charge Of that institution The
gentleman also spoke OF that institution as secu-
Tity and relief. Did he mean relief to the coun-
| try q relief TO Democracy. Is he ready 10 go
with his party for a measure which shall operate so
as 10 bring them both dOwn-bOth the State Bank
and his own party-together?
Sir, am unwilling TO include all cur banks in the
category, for We have amongst US, banks which
have been conducted fairly. We have amongst our
banks a contrarety of systems, and cOntrariety of
interests; and adverse interests will press after the
accomplishment of their own peculiar ends. We
have a system of Free Banks, and out of these
Banks have grown up a system Of drawing god
from the more solvent institutions; they draw out
the coin from the Union and Planters Banks; and
as matter of course these banks must take care of
it themselves. These institutions are nOminally
founded specie bssis-ten cents to the dollar Is
that basissnd in that ratio is their advantage
the Bank of Tennessee, which has been conducted
upon liberal high minded and just principles. Still
l not prepared now 10 close the door upon these
Free Banks l believe it would be better to 60 home
and DO nothing. / claim the right to speak freely
of this Senate bill--lhis BILL for it is no
thing else-and 1 say here again, that l regard
it as a bill of blood and will not vote for it
make party issue, but l say this: Our Demo-
cratic friends have come here in a majority, at
lime when the country wasin the enjoyment Of peace
and plenty, and claiming for themselves 10 have
been, all the time, the peculiar guardians of the
country; and now when the time OF trial has come,
ask them to take their hand and play 1t out.
The Democracy was in the ascendant in 1867,
and they played out their hand then, and lost all;
and say 10 them now, go q head with your Senate
it, nor do propose to amend this bill under the
circumstances, though am sure could make bill
not longer than my finger, that would "kiver the
Kase." / voted for Mr. Folks bill, because it pro
posed gradual return to specie payments; but mat
Is not in the question now. repeat SIR shall
stand aloff from this Senates ball, preferring al
present, adopt the liberal aud conservative
views of the honorable gentleman from Shelby,
whose ingenious spirit leads him to egisate for the
good Of his country regardless OF ali party consid
eratiOns.
When he had concluded, Mr. G. renewed the mo-
ton of Mr. Rowes to lay the table.
MrR0WLES. Mr. Speaker.
The SPEAKER. Mr. WILSON in the Chair. The
Chair cannot indulge further debate. The yeas
and nays have been ordered the motion TO lay on
the table.
MIR ROWLES. Then ask leave of the House to
ex plain. leave, leave The gentleman says he
is in favor Of the State Bank. How did the gen
tleman from Wilson The other day the reso-
luton to liqu!date the State Bank? Did he not
vote for that resolution? and now did his friends
on that side vote!
MIR GOLLADAY. No, sir. Mr. Speaker
MIR kOWLES. cannot give way. The gentle |
man refused to give way for An eye for eye
and a tooth for tooth So much for his friendship
to the Bank of Tennessee; AMI if his argument !
aments TO anything he is In favor Of doing nothing
So all the advocates of the present banking |
system in Tennessee, it now It snds. They would
Eelaiu IL as II Is laNOF
of amendment, according to the line of his argu-
ment; If Otherwise why not offer his amendments,
and correct the evils under which the system grOans!
He says he prefers TO do nothing, rather than take
the Seuate's bill Very well. l am content to let |
that declaration 60 out to the country.
Again, he complains that stole the thunder |
of the other side of the House, by adopting the |
provision that the banks of this State shall pay
out the bills of the banks of other States.
Mr. GOLLADAY. did not say SO.
MrROWLES Does not the gentleman recollect, |
when Mr. Folks bill was under consideration the |
gentleman from McNairy, Mr. Estes,) proposed that
amendment, and that, when told him it was in the
bill l would introduce, he withdrew it? We took
none of their thunder. If there is any thunder in
it, it is our own.
But he says, we vote down all their propositions.
In reply to this, beg leave to cali the attention Of
the House to the amendment of the gentleman from
Jefferson, (Nr Brazelton.l We considered that
good amendment and we voted it upon the bill; and
We are still ready to vote FIR any good amendment
whatsoever and by WhomsOeyer offered But sir,
there is one thing have noted particularly. The
gentleman has been making war on this bill Tor three
quarters of hour, and has taken his seat, with
cut pointing out specific objection.
Mr. VAUGHN showed that his amendment, which
was prepared aud offered some time ago, quite
different thing from the clause in The bill above re-
erred to.
Mr. COOPER, lat Il o'clock, NJ, moved that the
y L.
MIR BRADFORD demanded the yeas and nays,
md the same being ordered and taken, resulted
reas 81, nays IS, as follow:
Yoas.-Messrs. Algee, Anderson, Bayless, Beale,
}icknell, Brazelton, Bulloch, Cooper, Davie, bod
on, Dunlap, Ewing, Golladay, Holmes, Ivie, Ken.
lrick Keeney, King, Lackey, Lloyd Polk, Randolph,
IoulstOn, Renshaw Richardson Saunders, Shrews-
Jury, Wilson, White of Hamilton, White OF Knox,
md Vaughn-3l.
Nays-Messrs. Bate, Benton, Blackburn, Brad
ord Caldwell Carter Of Carter, Carter Of Hardin
Copeland, Davidson, Dobs0n, Estes, Frazer Fulton !
iammon, Griffith, Hamilton, Harvey, johnson, Lamb
.ow, Maris, Mickey, Newbern, Newman, Roberts
lose, Rowles, ST John, Schmittou, Senter SMART |
lova Taylor Turner Of ROane, Turner of sum !
er, Williams, Wood, and Speaker DonelsOn-S8.
So the motion rejected, and the question re
urred Mr. RO6les' motion to lay MIR Duuap's
i'll in lieu, the table; aud the yeas and NAYS |
eretofore ordered, were taken thereon result
lg-yeas 81, nays IS, as follow:
sgS-Messrs. Bayess, Blackburn, Bradford | !
aldwell, Carter Of Hardin, Copeland, Davidson,
o5son, Estes, Fulton, Cannon, Hamilton. Harvey, {
ohnson, Lamb, Low, Mickey, Ne gman, Roberts,
owes 81 John, SchmiItoU, Shrewsbury, Stovau, Z
Urner of Hoane, Turner of Sumner, W.lliams, |,