The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1857-04-03
THE RUN UPON THE BANK-REp0Rr

To all The World and dhe resi- Of Nankind:-
The undersigned, citizens OF Little Med
ellington, appointed a committee BY the meet
ing held vest. rday at the Bell tavern, hav.
had the subj ct of the pressure in none,
matters now upon us, under earnest c"nsid-
Grafton, and beg leave 10 subntlhe followin.
report:
First, we premise TO prevent all caviI and
criticism on TIE part OF certain persons VII,
are disposed to laugh at the idea of town
meeting, even in Little Meddlrgion, giyinp
direction 10 The public sentiment; Of the coun
Try upon money matters 81 ns To remedy the
evils under which the people are groaning
That There are folks in every community VIII,
are not half ms smart us they think; that in
ihls instance the men who are sneerng at III.
action oil The town meeting, are smartlnp
under the disappointment OF not being PLACED
upon the committee; and that this meeting
was moi gotten up al the instance of any one
directly Interested in the Bank, but was the
| happy suggestion of some of our most enter
prisng citizens who ARE anxious to push Little
Mrcdiinston (and thehsrlyes) forward in the
pubic notlce-cltizens who feel the necessit,
OF doing something, and who think they see
now they hare done il. Therefore We are not
ashamed, laugh who may.
Ours is a country of immense resources.
and just MS They begin to be developed, We
are on the verge of general distress and wide
spread ruin. Any man who will read Simon
Suggs on the "rrll box" will be at no luss TO
trace our present condition TO its true source.
Faro Banks have multiplied in our State Ia
an unprecedented extent; they have mad,
money like rails; times have b. en- flush with
The bankers; they have lent money To their
friends whenever called upon; spirit of " i d
speculation has sprung up in Little Meddling.
ton; our people have purchased goods, bui
rex store-houses and even commenced To-
erect steam saw-mll upon this borrowed
capital, relying upon further loans to meet
their liabilities. Everything seems TO be may.
ing on swimmingy, when 10, right in the
midst OF this state of things, the Monte and
many of the Chuckalurk Banks have enunprd
in an uncnlrd for war upon the old Faro
Banks-playinp the white check game, and
every time they run stack up to five dollars
drawing out the nancy and sinking il. These
Faro banks are sound and solvent, and in
almost every instance are the only banks
lending money aud relieving the wants of the
community. But the season Of adversely has
come-the trowel has ceased To riny from the
walls of the brick store-the boiler fies rusi.
ing at The site OF the steam mill-gnsinu
and feathers dried apples aud youbrr. pens
IN word, every article of trade in thu. Littl. |
Mrddiington market has declined. General
gloom and emptinrss of packets pervadr the |
entire commercial community of Cur latcl,
town.
Without intending any invidions disiinc-
TONS, we give ns n sample at the lucky uuns
now hrlng mad" upon our best institution, the
extraordinary run upon the Branch of the.
Bengal Tiger in this town. Within the las,
twenty nights our information is-nnd We
deem 1t rrliahle-that from, four TO fre thou
sand dollars have been drawn from t., sat,
ni this Bank. These runs canno, break IN,
bank or drive il to the wall, but have forced
i To cnrInll and may compel it to cease entire
Is loans, and Thus bring upon the conlnunit,
| universal panic.
Now the Faro Banks had perfect right to
efuse to turn for Mexican clipped quarters
Il more than their true value; and nllbou III
he efforts of the Monte dealers to force III, n,
e do so, have, through the assistance of som.
# the native Chuck dealers, subjected then.
% some Temporary ncon, eniencr, and ever
oss, yet the citizens OF Little Mpdilinyion.
rho have probably been the greatest suffer
r., and the public generally, initiating our
example. will sustain the BENGAL
igrr in any evasion and even n suspension
its own honest debts, so it continue 10
If"rd us the necessary facilities and accom-
lndntiOns for the transaction of our bust
rss.
II is more in anger than in sorrow, that w. ,
,me now to spe k of the Chuck Banks- ,
'hrsr banks were org lniz d ut n very earl,
ny. The committee regret To feel called Z
pom I" saw, tina. with tep honorable exc.p- d
ms. tn Chuck Banks of the State nf Frank $
nd, have fallen into the hands of Gamblers. :
I'd instead q: benefiting, are actually oppos- d
e the people. AZ n committee. looking I
one To the bes; interests Of the conntr,.
md squirting slightly at our OWN W. feel
'und IL call pub ic attention to this subj ct.
I'd 10 suggest to the people of every county !
respective of PARTIES, that these concerns
tquenty use load d dice, and will not lend
1t red, except nj the most exorhitan, rates.
I'd then requiring deposit of ut least double
e value of the loan in the way of collaterals.
ri nv demand their breaking up or snrh n
Ms will secure the "faclilies'' =
'edrd by the people, and force them into such q
line of loans and the transaction Of such r.
ultimate banking operations as their tolrra. 4
IN originally contemplated. b
We beg leave 10 suggest to the common d
ople, such as farmers, mechanics and trn- I
RS. the proprirty of making their deposits ]