Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1857-12-05
IN COMMITTEE Of the Whole, Of The Ssaats Tuesday,
Dec. /, 1867.

In consmitss Of the Whole, Of The Senate Tuesday,
Dec. l. 1867.
Alr Speaker: do not wish, sir, unnecessarily to
detain the Senate, or consume the public time, in
the discussion Of this, or any other subject But,
sir, feel that l would be doing injustice to myself
and those whom have the honor 10 represent, were
10 fail to notice some Of the remarks by the hon
Orable Senator from Marshall, made this morning,
which if it be in order wish now TO proceed to do.
The honorable Senator says that he would have con-
| teIted himself with giving silent vote on this
! question, and would not have troubled the Senate
with solitary word on the subject; but sir, pub
LEGATION of article time since by the Presi-
! dent and Directors of the Bank of Tennesses, in
relation to, and explanatory of the suspension of
\ said bank Now, sir, construe that article very
/ differently from the Senator from Marshall; who
CONSTITUTES it into an attempt by those officers, to
dodge responsibility and screen themselves behind
the Legislature, and shift the responsibility from
themselves and throw il to this body. Now, sir,
/ what are the facts! Here is the Bank of Tonnes
see, State institution and TO a certain extent
der the control of the Legislature of the
State and subject to its control. great crisis in
the financial affairs Of the country comes up. The
President and Directors, deem it wise and prudent
10 adopt certain line of policy in It's management.
4 They suspend specie payment. WhereupUn they
Immediately make out a statement of the condition
OF the Bank, which they submit 10 the Legislature
/ and the public with the reasons which induced
I
Of whicl they say: Ii in this they have erred in
the opinion Of the General Assembly, such an ex-
preston Of opinion by them, viii Immediately cnange
the course Of the Directors, and the debts of the
Bank, be paid promptly when presented"
Now, sir, it is this which has so excited the ire of
the Senator FROM Marshall, in which he lodging
"A want of nerye-a shifting OF responsibility and
all that, on the part Of the officers, and more parti
cularly the President. Now sir, / stand not here
to-day the apologist Of banks, CT the advocate of
wild and reckless system of banking; but am here
to-day, sir, to defend great and good man from the
unjust assaults made upon him. because of his ofi-
cial connection with the banking system of the
country. What is there, sir, l ask in the article
alluded to, to subject him the charge of lodging
"a want of nerye-a shifting of responsibility He
tells you what he has done. He tells YOU WHY he
did it. He recognizes your right to control the in
stitution and the action Of its officers He tells
you, if you differ with them in opinion and do not
agree with them in their policy, that you have but
TO intimate it, and they will once abandon it and
adopt yours. Is there want OF nerve in that? or
is it but just and manly Difference to the creative
power, which spoke the bank into existence and has
the right to control it. What else would you have
him do! Would you have had him say, assumptuously
and arbitrarily, and in defiance Of the Legislature
that this is what We have done, and this is our
course of policy; and that are right; and that we
will pursue it regardless of your opinion to the COM
trary, and "a defiance Of your right control the
institution
Is this ask the sort of nerve the Hon. Senator so
much desires? If your system of banking is wrong
If it is fraud upon the country, then SIR correct
it abolish it, if you choose. But assail not thus
one of the best Of the country, who because of
his superior ability, and kaooH integrity has been
called to the head Of the Bank of Tennessee, but
who, in consequence Of the errors of your banking
system with all his ability, and his high and unim-
peachable integrity has been unable avert the ca
lamity of the times. Since he has been at the head
haR onE Of huva h. -
Official authority in the State that it has been well
managed that ''it has realized greater profits, made
fewer bad debts, and given more general satisfaction
to the public, than in any other period ofour years
since its interpretations" and by the same authority,
we have the President and Directors endorsed as
sable, efficient and honest" Then blame him not
with the inevitable caamities of an erroneous sys-
TEN which he could not control Long since has
his warning voice been raised but has been heed
ed not.
Then assail the system if you choose but in the
general wreck and ruin of false system of bank
ing, involve not that great and good and guiltless
man, who has done much TO elevate your party TO
its present position of ascendency, almost any
other living man. Whose youth-whose manhood
and whose age have been honestly devoted to the
patriotic service of the country. He is almost the
only living link which connects the Democracy of
the days of Jackson, of Grundy, and of Polk with
the Democracy of to-day He has grown old in the
service of his country. His locks are thinned by
the winds of time, and whitened by the frosts OF
age. Hismsnly form is bending and lettering under
the weight Of welspen years, periodically devoted
to his country. Then spare that man, call upon |
you, in the of gratitude and justice, spare
that man from unmerited assault. l. sir, have the /
honor to represent the district, and to live in the
county that boasts his nativity and though many of
you knew him well, and appreciate him, yet, sir, it |
is reserved for those of US who know him best to |
appreciate him most. The Hon. Senator says that |
he belonged to Mr.. Folks cabinet, and that he once
lookei upon him as Of the old guard, but that |
he has departed 1t is true, sir, that he did beloTg
to Mr.. Polks cabinet is it yet, sir, any refec
ton upon that brilliant Administration that he did
He was, and is, bright star amid any galaxy of
statesmen. But, sir it is unnecessary that l should
talk here-Cave Johnsons fame is to be effected
by the transactions of yesterday or to-day. 1t is
of the fixtures of history-t is interviewer into
the very fbers of your government federal as well
as State. 1t is legacy to his oOuntry-tO his whole
country-it will 60 down to posterity-and while
generations yet unborn shall read his history, they
will admire his character. can honest man, the