Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1857-03-22

We Sre greatly surprised at the recklessness Of
our exchanges in their statements relative to the
condition Of the Union and Planters Banks. Ogpo-
sitoq TO banks in general and some modes Of bank
ing in particular is common with the great masses
OF the people But fixed effort to depreciate the
paper Of particular institutions without thesembance
Of an excuse Is surprising indeed Such is the per
sstent effort of several journals in this State in their
course towards the Union and Planters Banks Not
satisfied with legitimate criticism upon the policy
controlling these Institutions they endeayorng
TO create dstrust the part Of the people to the
Bolvency and the soundness Of their issues For in
stance we observe in displayed letters at the head Of
Memphis paper, an advertisement to the public that
notes Of the Planters Bank, Of Tennessee viii not
be received for subscription at greater value than
Ssusn-fUs cents to the dollar. We suppose this jour
nal to be one Of trfng circulation and certainly Of
poor authority in such matters yet it shows no less
the willingness Of those who control it to injure the
public, as well as the bank to crafty petty,
personal pique. We find, also in the Trenton, Ten
nessee, Journal paper Of responsibility and inau-
fuence, conducted by gentleman we highly esteem,
the following novel and unauthorized announcement
at has been currently rumored and so stated IN the
EGshVs Dapss for several days, that the old Union
Bank had gone BIZ the board in consequence of a.
heavy draw made upon 1t by a combination Of the
Brokers establishments known free Banks. Until
further advised its issue should be taken with extreme
caution. "
We trust the above paragraph found its way into the
Journal without the knowledge of the editor No
such statement ever appeared in the Nashville papers,
and is without the shadow Of foundation Nothing
has recently occurred that in the least involves the
sovency of either the Union Planters Bank, and
with that class Of community who come in daily con
tact with banks not even suspicion of the kind has
existed Whilst the particular mode Of transacting
their business is legitimate subject of criticism,
and has been often discussed, they are known in
point Of solvency to be par with the very
best Banks Of the country.
The reason that we refer to this subject is not from
any particular desire to serve banks but to protect
Che transporting people who are likely be made the
prey ofsharpers and money changers by the effect Of
such unfounded reports. Whenan erroneous impress
sion-suchas these papers seek to create becomes cir
eulated in the country the effect is make the thous
suds Of small note holders common prey to the Bro
kers. We have heard already many who, giyingcre
dence these malicious reports about the Union Bank,
became alarmed and sold themoney ofthei hard earn
ings at q heavy discount. The great mass Of the
people through the country, engaged in the pursuits
Of their farms easily deceived in matters Of this
character, aud the result is that they, the people
oeiye greater harm from such malicious stories about
Banks than the bankers themselves. The broker is
the shark that follows along in the wake and fatens
upon the disaster. To create panic about an inst
tuition whose sOlvency is unquestiOned, is great
wrong to the public at large, and should be dscOun-
tensnced throughout the State
We submit to our friend of the Journal if he de-
Eires to contribute to such result We trust he win
do justice to himself and to his readers