Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1857-02-13
COMMUNICATIONS

NEssRs, EDIroRs Your correspondent Of the 4th inst
the signature Of D. J., thinks that my proposition to
change the Free Banking Law would make Banking 10 The
State Of Tennessee, emphatssly free thing. sn pleas
Cd TO mud that your correspondent n y comp ehends
THAT prsols y my proposition; provided, always the
Psrty proposing Bal shall be required give ample
guTty public for his Issues
luke the gr und Banks the legitimate agents OF
Commerce and that the business Of Banking, when based
gpOu capia ,s provided for by our Free Banking law
E regulate itself IT. f1r instance, the county Of Lincoln
annually Tor sale, mules horses pork whisky,
wheat and bacon the Of S50OJOO, the trade Of the
county sustain The business Banking that extent
and the her trader h1d Bank socOmmoda
i0Hs better the PT0a because II he has
Nsshve or Chattanooga his expenses have be paid and
sng Of profit and loss, he include
bis expenses. Thea would be him dad
gHy 10 his oouutyIu the town OF Paystteville
han voud nd security in Nashville Chattanooga
even ia SheI6yvIle,
Lal! your CoresP pendent aPBrehoads that would
gag business Banking who only had could boT
7g great many would fail, and brig the Free
Bal king system Of State into dsrspule.
am, 20 p, acquainted in the community eeEnty
10 your POndeut resides therefore cannot speak
60 CssuIty 10 regard bis ue ghbors. think, however,
shat may speak great certainty in reference the peo-
pie Middle Tennessee, say that company OF
men here, rouIa engage the business OF Backing With
sl5sal Of $4,000. Less than that amount
not pay; and men pisl, borrow Il,
usey IN stste bonds and part with the possession
or them msely be called BunEer- They will drS make
she calculation hat IL the value Of heir time and
capital aud hey do that they will not commence the
business with less than go 600.
an opp1ied general thing, local and special lsgis-
Isun should the opposed change 10 Free Banking
Ew come up 30 glaturs, perhaps eorTsspOn.
dent could Fet his sosEtE sTsgtd rem s sBsratsRS.
strongly suspOt that your eorres Ondeut is old line
vybg we'll remember have used the srgumsuI
flv OF United Bank, and gnsl the State Bank
syH.um | real thought that mann IA bank, with
branch IN each State, the Only thing that could give
good currency country. well that
the party which &C cd Predicsd that Gen Jackson
and the democratic party succeeded 10 abOlisbag the United
States Sank the country would be ruined TIE Whig parry
gallant aud possessed some me traits, but for
=bls certainly predicted some very strange things
the apprehension prediction your
rsEgoudeuy-lhst would be found In Tennessee who
would engage Banking with SlOOJ and jurs the Bank
Ing system.
IfIam not mistaken the disastrous Bank failures,
shat have occurred in the United o., those
srga capital Instance, the United State Bank OF Penn
syl,auia, and Union Bank Of MEbEPpi The latter,
cash capital TO commence with, Of i've millions Of
dollars, utterly us0yent IN eighteen months unable 10
pay 10 cents on DO uo TscoItct much the
Lned Bank pad the dollar, but all know thai
10 dsas TO all parties concerned with IT, and 10 the
U genera y. So that see that large Banks
guarany against laursI.
substitute Tor prop
0su0ns ids: The legislature give hB exclusive privilege
g Issuing .sei upon bonds Tue State, the
Bank This, too, sounds Ike old wbig ducnes
which long since discussed, gees
Eiou. u looks much lis msmmOh government pa
per sank, rto monopoly Of the privilege Of BANKING
which very hing that an opposed sim y sss
that BsuEing Law be amended enable
aharo INKS Of our own. We able establish
of 100000 bot We oan IS 50 or $1,000
liars, sud give ample sBcurily 10 the bill holder.
For instance county Of Giles has sufficient Tlde and
wealth 20 establish Two BHnss Of $50 OOO each Lincoln
81 go 900 e-rh franklin each; Coffee
$3.50 EACH Warren two u 100 or 1000 dollars each
perhaps oTIh5go other counties, making IN the sE
rrg Ran capital Of $50 or $500 600, which being divi-
dc OUT ned By the Trad ortbese counties, would
vent and good III their Issues any Banks 10
the sac would all the purposes OF people.
"A the matter stands comparatively without
any Bans NJ trcdes, and have depend upoa distant
Banks frequently adjoining State. In order
rsc his state things and il poss bic 10 emedy OWL,
we shall &c eft our candidates fer the legislature
ace 10 this question, and if necessary IN petition he
ssgsrurs AItnal we want is equal distribution Of
Banking privilege. Yours resp, ctSNy,
TrLLaHouA Feb 9. 1857, W.