Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1857-12-29
TENNESSEE LEGISLATURE.
HOUSE OF REPRESENTATIVES,.
FRIDAY, Dec. IS, 1857.
BANKS AND BANKING


EFEEIxG sEss1ox.-IE ooSrrUAnoS.
BANKS AND BANKIEG.
Mr. GOLLADAY. 1 voted against all Of them,
and the gentleman himself says he voted against
Folks bill because it contained individual liability
am in favor of fixing individual liability upon all
banking institutions, and wherever else you can fix
it so as to do any good
But the gentleman made another grave charge.
He says we voted every Objectionable feature upon
the bill. Win my friend say that the individual
liability clause is Objectionable featured Did not
the genaeman's party proclaim it as Democratic
proposition? Did not one Of their own party offer
it? And did they not vote for il! Where then. 1
ask, is the proprety Of turning round and charging
with putting it upon the bill as an Objectionable
feature? We did no such thing. But suppose that
did vote for it; what may be Objectionable to that
genteman's mind, may be correct feature to my
mind. But again make the point Of forfeiture,
and insist that gentlemen take up the provisions of
the law and proceed against the banks.
Mr. R0WLES. Mr. Speaker, l wish to ask the
gentleman from Wilson this question: suppose q
bank has forfeited its charter is their charter for
feited in law before the of the country have
so pronounced judicIally?
MIR G0LLADAY. l answer yes; if the act of
forfeiture be rendered certain. say that law
is law from the beginning. If bank charter be
forfeited it is forfeited by act and it is for
feited a6 initio
Mr. ROWLES. Has not the Supreme Court of
Tennessee determined ttat private individual
cannot be barred plea of forfeiture, where the
fact has not been judieially pronounced!
Mr. GOLLADAY. The gentleman has told me
that the banks hare forfeited their charters. Both
the gentleman from Bradley and the gentleman
from Sumner have declared, and they are both
good lawyers. Now why don't they introduce their
joint resolution and proceed against them aud see
if their allegation can be sustained. don't want
TO be trihing here legislating with regard TO par
eel Of corporations that are defunct in law.
My friend from Sumner, says the banks have
done their worst Just let him shut up their doors
efectually, and we shall see whether they have
done their worst or not.
Mr. DUNLAP. Mr. Speaker, 1 desire TO answer a
few remarks made by the gentleman from Sumner
1 knew before introduced the BILL tina members
on this floor differed materially in opinion as to
what the character Of this bill should be. knew
that portion were in favor of bill to operate as
a punishment upon the banks; and that another
portion believed that the country was in such sit
uation that we ought to offer bonus to the banks
to to the of the country, and with that
view l offered my bill.
Mr. TURNER, of Sumner 1 disclaim any design
to impeach the motives of the gentleman from
Shelby. L certainly believe his bill was well in
tended.
Mr. DUNLAP The gentleman alleged that the
banks had sent off their gold We have heard that
the free banks have done this, but not the State
Bank.
We assert in this bill, that if you accept it as
part OF your charters you will not issue any notes OF
less denomination than five dollars after the first OF
july 1853 and after the Sh ofJanuary, 1852 youwil
issue no notes of a less denomination than ten
dollars. Then we release them from the penalties
they have incurred by suspension, till the oth OF
January, 1853. That is the only privilege granted
to them Thus we place them in situation that
they can come to the relief of the country. My
bill proposes 70 resume only eight days later than
the original bill. l am Ony eight days behind the
time 1t is true that the second section of the Sen
ates bill had some restrictions not contained IN
mine-such as l believe that no bank in The State
could would accept if she did, she would be com
PEELED to contract her issues and go to collecting
thereby producing the very opposite effect from the
relief sought for.
But, Mr. Speaker the gentleman has charged that
portion Of the Democratic members on this floor,
has turned traitors. Sir has it come TO this, that
such charge can be lightly made against those
who have grown grey in the service of their coun-
try! The House will remember the old adage,
young folks think old folks are fools, &C." Sir, it
i'll become these besrdess boys TO lecture old men,
who never had thought interest in their life
against their country. God knows, l offered this
bill with the purest of motives, and with the honest
belief that it would save the planter, twenty dol
lars every bale of his cotton; and for this, am
to suffer the TeprOach of traitor to the Democratic
party. Well, ii l am a traitor to my party, sir,
am not traitor to my country.
Men will honestly differ in opinion upon the same
subjects, and can we do 80 here, without eharg-
ing each other with being Influenced by improper
motives.
Mr. D. proceeded to compare the provisions of his
bill with those of the original bill of the Senate,
alleging that nothing could be done with safety
for the common interest," than what was proposed in
his bill in lieu and that the penalties were ample
for fha tDF, II II
pressed, again, his desire that the bill might be al
lowed to pass the second reading without further
debate
Mr. POLK. Mr. Speaker, 1 would ask the House
to pass the bill second reading, pro formo, and
that it be then printed and made the special order for
to mOrrow morning at ten o'clock. l suggest this
securing the best means Of comparison between the
two bills; and if it should be thought proper to
turn to the Senate's BILL the House can do so by
reconsideration, by substituting it again for the
bill of the gentleman from Shelby.
Mr. STOYALL. That cannot be done.
Mr.. POLK. That is true.
Mr. ROWLES. hope We will come TO direct
vote upon the bill | demand the yeas and nays
upon the second reading.
The yeas and nays were ordered and beirg taken,
resulted-yeas "a, nays 81, follow:
as-AIe-srs. Anderson, Bate Beale, Benton, Bick-
NELL Brazeiton Bullock, Carter c., Cooper Davie,
Dodson, Dunlap, Ewing, Frazer Golladay, Griffith,
Holmes, Ive, Kendrick, King, Lloyd, Maris, New
bern, Polk, Randolph, Rouls;on, Renshaw, Richard
son, Senter, Stanton White of Hamilton, White of
Knox, and Vaughn-34.
Ndys.-Messrs. Bayless, Bentley, Blackburn Brad
ford, Caldwell, Carter of Hardin, Copeland, David
son, Dobson, Estes, Fulton, Cannon, Hamilton,
Harvey, johnson, Lamb Low, Mickey, Newman,
Roberts, Rose, ROwles, st. John, Saunders, Schmit-
tOu, Shrewsbury Smartt Stovall, Turner of Roane,
Turner of Sumner, Williams, Wilson, Wood and Mr.
Speaker Donelson-34.
So the bill was rejected.
Mr. POLK. Mr. Speaker, l had thought to enter
my motion to reconsider the of day before yes
terday, by which my bill was rejected; not that
expected to vote for the bill myself with all its fea
lures. want to vote for the individual liability,
and will vote for many features Of the bill that has
come down from the Senate: that is, if it be recon
sidered am willing that it should come in lieu of
my bill.
Mr. Speaker, we are presenting strange spectacle
to the country. 1t seems, that because cannot
get every man his own views adopted, we will have
nothing. | am prepared now to reconsider, and take
the bill of the gentleman from Bradley and make it
the basis of amendment. l am willing to withdraw
my bill for that purpose. ! willing to come in here
and make the honorable compromise, of which that
gentleman has spoken. l hope the House will make
the reconsideration tonight, so that We may have
some proposition before tomorrow. If that course
is not taken, we shall have to commence de oUaO l
do hope gentlemen will allow us to have something
10 dCI upon
Mr. BATE. Mr. Speaker, 1 move to reconsider
the vote by which the Senate bill was displaced.
The SPEAKER. That motion would be advanc-
ing step too far. The first motion would be to
consider the vote just taken.
Mr. TURNER of Sumner, entered his motion to
that effect, and moved to take up that motion.
Mr. DAVE moved indefinite postponement of the
whole subject.
The SPEAKER ruled the motion out of order.
There was nothing before the House to postpone.
Mr. COOPER demanded the yeas and nays Mr.. |
Turner's motion to reconsider the vote rejecting Mr.
Dunlaps bill, and the being ordered and taken,
49,nays 10, as follows:
Yeas-Messrs. Bate Bayless, Beale, Bently, Black
burn Braaelton, Caldwell, Carter of Carter Carter,
Of Hardin, Davidson, Davie, DObson, Dodson, Dun
lap, Estes, Ewing, Fulton, Cannon, Griffith, Hamil-
ton, Holmes I've, Keeney, King, Lloyd, Low, Maris,
Mickey, Newman, Polk, Randolph, Roulston, Rob
erts, Rowles St. John, Schmittou, Smart, Stanton,
Stovall Taylor, Turner, of Roane, Turner, of Sum-
ler, Williams Wilson, White, of Hamilton, White of
Enox, Wood, Vaughn and Mr. Speaker Donelson- 40.
Nsys-Messrs Anderson Benton, Bicknell, Brad
lord, BullOch, Cooper, Copeland, Harvey, Johnson,
Nendrick Lamb Newbern Renshaw Richardson