Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1857-12-09

be severalIy liable in their individual capacity for
the debts Of such bank or banks out not until the
effects Of the bank or banks, shall be exhausted oy
judgment or decree, or execution, and
Be ii further enacted, That IN case any DanK OF
hanks or individual banker OF bankers, shall refuse
navment when demanded on their notes Of cIrcuIa-
ton. then all the bills receivable, bonds and mort
cages shall be held and applied by the bank or banks
10 the payment of the circulating notes outstanding
in the. hands Of any who may have the notes Of
such bank or banker, and tito the depositor in
such bank. they shall be paid out of any remainder"
Mr. BENTLEY saiii:
Mr. Speaker From the remarks I made in the
Hail. am reluctant TO be understood as arraying
myself in hostile attitude against anyof the banking
institutions of the State on the contrary, feel ami
caby disposed, for the reason, that can attribute
nv humble success in business, in some measure, to
the accommodations derived from banks. But, then,
am not debarred from expressing my dissapproba-
ton Of the policy pursued by the banks. am dia-
metrically opposed TO all banks, aud maintain that
q constitutional currency, gold and silver, should
alone be substituted; but the present mixed system
of currency is so interviewer, and connected directly
with the people, that any extreme measure that may
be adopted by the Legislature, cOersing the banks
to resume would involve the whole country in ruin,
and bank rupt the commercial portion Of the commu-
nifty Only reflect of the many millions Of dollars
due by the people to the banks, and perceive how
closely interviewer is the interest OF the people WIN
the banks Therefore, advocate the widening and
eulareinc of the gold and silver circulation, and
shall vote Co prohibit the use of small notes. as
to create a demand for metallic currency, which
would inevitably take the place of the small notes,
and do nothing cripple the banks, nor retard their
business farther than require them, the free banbs
to deposit with the Comptroller, an amount adequte
to the depreciation of our State bOnds-and then
not TO be partial require the stock banks TO GENE
up in ike manner, and give US indemnity Tor the
Ultimate redemp lou Of their notes, oy paying IL
their capital sock in gold and silver, and never
withdrawing it under any pretext, exceptto re-
deem their issue of notes. and 10 take an Oalh mol
to over issue, and that they nave continually one
third of their circulation in gold and silver ana
that they be required to furnish quarterly reports
to the Governor, their adherence TO the rule.
And now with reference 10 legaliZing the suspen-
sion Of specie payment by the banks, am opposed
to saying one word, or of voting on that question,
and leave it solely with the banks to resume at their
option but require all sUspendedsbanks 10 pay into
the Treasury of the Stale during the time for which
they are suspended, six per cent on their capital
stock. For the responsible banks and will re-
sume-and we should not be indugent as TO legal
ize their violations of Law and contracts, nor pre-
scribe time when they shall resume-fOr certainly
all will resume soon as they can. -.H'
The question was first taken by yeas and nays on
Mr. Rowles' amendment by way OF substitute for the
seventh section amended resulting yeas 20, nays
81, as follows:
Yeas.-Messrs Anderson, Bate, Bayless, Bentley,
Bradford Dunlap, Cannon, Hamilton, Harvey,
Johnston, Kendrick, Lamb, Low, Mickey, Newman'
Rowles, Schmittou, Senter, Shrewsbury, Summers,
Taylor, Turner of Roane, Turner Of Sumner, Will
son, White of Hamilton, White of Knox, and Speak
er Donelson.-26.
Nays.-Messrs Algee, Beale, Bicknell, Blackburn,
Brazelton, Bullock, Caldwell, Carter of Hardin,
Copeland, Davidson, Dodson, Estes Ewing Golladay,
Holmes, Ivie, Keeny, King, Laekey, Lloyd, Maris,
Polk, Randolph, Rawlston, Saunders, Smartt, Stan
ton, StOvall, Thompson, Williams, and Wood.-31
So the amendment was rejected. .,.
The question was then taken upon Mr. Bentley
amendment, as above described, by yeas and nays
demanded and ordered thereon, resulting, yeas AZ,
nays Is, as follows:
Yeas.-Messrs Algee, Anderson, Bayless Beale,
Bentley, Bicknell, Blackburn. Bradford, Caldwell,
Carter of Carter, Copeland DObsOn, Dodson, Estes,
Cannon, Golladsy, Hamilton, Harvey, Holmes,
Ivie, Johnston, Kendriek, Keeny, Lackey, Lamb,
Lloyd Low, Mickey, Newman, Polk, Randolph,
Richardson, Rose, Saunders, Savage, Sehmittou,
Senter, Shrewsbury, Stanton, Summers Taylor,
Thompson, Williams, White Of Knox, Wood, Vaughn
and Speaker Donelson.-47.
Nays-Messrs Brazelten, Buloch, Carter of Har-
din, Davidson, Dunlap, Ewing, King, Maris, New
bern, Rawlston, Renshaw, RoWles, Smart, StOvsll,
Turner of Roane, Turner Of Sumner, Wilson and
White of Hamilton-18.
The House then adjourned until tomorrow morn
in0 of o'clock