Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1857-10-23
COMMUNICATIONS.
WILL THE LEGISLATURE STAND BY THE
PEOPLE

PEOPLE.
LEBANON, Oct 18th, 1857.
GEETLENEE:-There is an effort making to man
ufscture public sentiment, 50 as to influence the
Legislature to bolster 1.-THE suspended banks, by
lsgalizing their suspension. l do not belivs that
there is an individual in this county, who is not
in some way connected with the bsuks that is in
favor Of the Legislature doing anything, to assist
them to commence their operations again. The
people here have sense enough to know, that no
man, no community, no interest, can survive their
operations. 1t was believed by the Legislature
which granted the extraordinary privileges of bank
ing to these monsters that they would be satisfied,
with profit Ofthirteen or fourteen per cent per
anuum, six per cent on their State bonds, and six
more on their notes. compounded two or three times
year. But instead of this, they have either Dor
rOwed have on deposit, al the surplus money of
the county, and refuse discount dollar, except
bill, and that at one per cent per month, with
an additional cent, for the privilege of paying,
where the bill was discounted, all of which com
pounded several times in year, amounts to from
eighteen, to twenty Eve per cent. This is the way
,hese bloody monsters have been operating, ever
since their organization. And now when the peo-
pie come up, and ask them to redeem their paper
" no." says enc of them, notwithstanding we have
but one hundred thousand dollars in circulation,
aud have one hundred and seventy thousand in
State bonds twenty one thousand in gold ard
silver, besides a considerable amount of other
means, yet we cannot pay you as we promised, for
gold and silver is worth five to ten per cent premi
un. We have suspended, and intend to ask the
Legislature to egalize our suspension, and give US
time to fix up matters, and in the meantime will
assist in relieving the country, by furnishing ex-
change. &c" How monstrOus would be such
Proposition on the part of an individual A owes
Ell thousand dollars. goes to him for the
money A shakes his pocket book at him, and says
to him. here is fifteen thousand dollars, but you
cannot get AIRED cent of it /; it would be loosing
business, for me to pay you, when can do SO much
better with my money. He then petitions the Leg
islsture to prevent from collecting the debt until
gets ready to pay it, and also for the privilege OF
shaving. see no difference between this PROPOSE
tlan and the one proposed by the banks. The con
dtion of things such in our State, produced by
this illegitimate system of banking, that some in
terests must suffer- and in my opinion the question
II the Legislature ueClues Is WueLueE tue Dduh-
e,s who have been realizing immense profits with
out producing grain of corn, or pound of cotton,
hall suffer the consequences which they have
brought about, whether they shall be permitted,
10 throw the burden upon the shoulders of the
honest lsbOring man, whose industry supports
society, whose courage defends US in the hour of
danger, and for which he asks nothing, but to be
protected in his rights. have been acting but
short time with the Democratic party and it is with
pride that find in examining the records Of the
country, in every contest between these incorpo-
rated monsters and the rights of the people, that it
has stood by the people.
hope the Legislature will pay as little attention
to the wild cry that the country will be ruined
unless the banks are sustained did the people to
Sans cry about foreigners and the Pope. The
lnks have according their showing the ability
10 redeemther paper and they should be forced
10 make the sacrifice and not the people.
Yox PoPULI