Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1857-12-24

Maury and the Senator from Marshsll-he says,
and that too, after the banks had been suspended
for years:
sAs far as my information enables me to judge,
banks believed to be in a solvent condition,
and could If reasonable time be gipeB SAeAs be pre-
pared to resume specie payments, without ineOnve-
nience to themselves oppression to their debtors
The interests Of the public in my judgment demand
it."
So say of the present condition Of the banks;
and the Committee, in preparing this BILL believed
as Gov. Polk then believed, that unless reasonable
time be gwen to the banks 70 accommodate them
selves to the unexpected condition of things, op-
preston, Inconvenience and ruin must necessarily
ensue, not alone to the bebtor, but the merchant
the planter, and all persons directly indirectly
connected with commerce.
Sir, DO not stand here as the apologist or advo-
cate Of banks. God knows eve them nothing in
money or other obligations. will do them justice,
IL know it-but the matter OF special ;oncernmenL
to me- is the effect OF legislative action upon my con-
stituents, the peOple--merchanes, cotton planters
cotton buyers or mechanics people who have not
unduly overtraded, and whose fault it is not, and
who cannot and ought not TO be held responsible for
The of things, which now Expresses every in
terest III the Stae. / confess Mr. Speaker, that the
people am charged to represent, have vGstnerests
IN the legislation which you and may prescribe
upon this subject. Remove that people from the
effects Of your stringent legislation and am care
of the principles Of honor and faith, which should
ever govern and control Representative of Ten
nessee, while dealing with party, whether corpora
ton individual, with which the Stale has entered
int solemn contract aud covenant.
will repeat to the Senator from Marshall-he viii
find in me, no disposition to encourage or tolerate
suspension-least of alto offer inducements of fraud
upon tn part OF the banks 1t may be that this bill
does 70 far enough. l must, however, here ex-
press my honest conviction, that but very little good
can be accomplished 10y our action here-while evils
disastrous aud irremediable may be inflicted. be.
lieve TO day, that VIII be the wisest and safest
course, for US 10 do little legislation possible.
In my Judgment although Offering this bill as the
organ or the COmmtLee,) the wiser course would be
to leave the bank and the note-holders, to apply
their respective remedies in their way, and
eording 10 law, and without any port Jaeto legs
lation restricting the rights Of either.
Mr. speaker: know that The merchants and ira
ding people, in my part OF the country, have not
engaged in trade beyond the ordinary operations of
a commercial people. | know this commercial re-
vulsiun is no fault of theirs; and whether they be
of political kin-whether Democrats, Wings, or
Know NOthiHgs-I feel it my duty and my privi-
lege to intervene in behalf Of the right. And
fancy not either the orthodoxy the Democracy of
any man. who deluding himself with the ideal con-
conclusion that ali banks are common curse, steps
in, like bull in china shop" and scatters and
breaks things for the fun of hearing it rattle.
One word in conclusions: l know not whether
this discussion will continue The bill is before the
Senate is, Of course, open for amendment, and may
be materially improved l believe it will work as
little mischief as any bill that we can adopt. 1t
will not, in my opinion, do any great amount of
good, except to aliay prevailing excitement, and
restore that which is so much needed in aud out Of
the State-confdenee. This bill is not proposed as
panacea-by no means. 1t may and it is believed
it will do some little good and at all events will
work less mischief than any other bill yet pro-
posed, and comes as near what l believe to be de.
manded by the present exigency as anything We
can adopt.