Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1857-12-24
ME-. Wn1rrHopvE-En Confirmation.

Mr. WHITTHoRNE MIR Chairman: If the COM
mittee will indulge me, will, In few words, reply
to my friend l submit to the Senate, that no ar
gument which made, has met with either response
eounter-argument, by the gentleman from Shelby
though was to be dissected, the promised feast
has not come off, l might content myself with the
battle 1t is, but that the Senator says that have
assailed and attempted to lecture him, on his De
mOcracy. In this, he simply misrepresents me.
carefully avoided assailIng the Senator, his bill
1 attack this question. 1t is no test Of
orthodoxy with me; and though, if l were to speak
politically, l would say that the Senator is ''great
sinner" yet l have hope for him, laboring under
and misapprehenslOn as he Is since Democracy
is good tning that if man IS once baptlsed IN
the faith, he can hardly stray so far that he will
not return. Again, Mr. Chairman, the disparity in
ages-my friend being much the Oldest man
would forbid the pTopriety of my lecturing him.
Doubtless, however, MIR Chairman, the Senator
thinks, because | quoted Mr. Polk, must neeessa-
riy have referred to him and his position Dem
ocrat Sir, l did quote the hOuOrabe name of
James K. Polk, as authority the question We
discussing, only Democrat but as one of
the purest, best and most enlightened statesmen,
whose opinion should have weight with men Of all
parties. Does the gentleman from Shelby propose
TO take issue with me upon this? Will he stand up
here, to day, and say II Is wrong to quote the
of Polk authority with the Democratic any
other party? This, sir, is my offence against the
Senator. 1T hath this exIent-DO more" My
friend hath mi taken the issue. Long deferred
suspension to the banks, is favor and indulgence
to them. He proposes 10 give it to them. | do
not, in my bill, and for his comfor, beg leave
again to read from MIR POlk, not for the democracy
OF the sentiments, but for their sound, practical
state-m ,nship. lie says:
When q suspension Of specie payments takes place
By banks their circulation Immediately appreciates in
Ualue and tie loss fiis not on the banks, but the
people The labor Of tie country bears the toss whilst
tie banks, during the suspension often doing their
most profitable business"
Mark it, sir, that during periods of suspension,
banks often doing their most profitable business,
whilst the labor Of the country bears the loss. The
people suffer, whilst the banks being enriched.
1 propose TO shorten this Of profit to the
banks-the Senator, TO prolong it. Again, Mr..
Polk says:
E. Whist the suspension continues, the tar upon The
dctiUs industry and labor Of the State, imposed By the
depreciation Of their paper isssHss, must continue to be
borne"
Who, Mr. Chairman, is sustained by the authority
quoted? [ propose a speedy yet reasonably day !
tor suspenson-and more than all, that wholesome
restrictions, MIR Polk advised, TO prevent
recurrence Of calamities like the present make |
no issues Of Democracy upon this question. l am |
ready to follow any party, any of any party,
who will give, by bill suggestion, uniformity and
stability to currency. lbelieve, that TO
that result, We must adhere, in practice, to the |
teachings of our party and have only TO add to my
winces."
The gentleman assumes, that there is no differ
ence in our bills, but that of time-in which he is
gofuly mistaken, propose
LIST. To prohibit the banks from dealing in incur
rent money.
I'd Paying interest on deposits.
Sd. Drawing time checks.
4th. DESIGNATING heavily to Stockholders and Di-
rectors
9Th. Ultimately, issuing any bill of a less denOmi-
nation than twenty dollars.
9Th Issuing more than two for one of specie, or
contracting liabilities beyond three for one
9Th. Becoming agents of banks, of this or any
other State, to pay out their circulation.
Ithen provide for monthly iustaments, individual
liability, &C, &c.-in other words, Mr.. Chairman,
totally disslmiar bill Mine has proper penalties
The Senator'S, you may say, has none. The Sena-
tori bill invades the rights of the noeholders of
the Free Banks. He turns them away from the quick
now in the hands of the Comptroller, to
the prolonged delays OF suits in the courts
One other remark of the Senator, wish to no.
lice, and then l have done with this subject The
Senator says that when the sub committee Of the
olnt Bank Committee had read their report on the
rights Of the corporation and the power Of the Lee
ylsature over them, the Senator alleges that said
n reference thereto, that Il was afraid 1t was So
l may have so remarked, in the words | addr 9ssed
% the committee, because have said here to day,
hat the question was tree from doubt. told
he Senator caudidly, that in consequence Of that
'epOrt, l went into an examination OF the subject.
Yet, Mr. Chairman, in the remarks made ~ the
Bank Committee, made the same identical sugges-
ions, which | have incorporated into my bill, the
,ropriety OF which, have argued and underworld
o sustain here to day. Has the gentleman met my
rgumeut? lie has not. lie denies that the banks
lave, by suspension, forfeited their charters. This
his legal opinion and get, upon as UsTy face, the
sa1as bH, assumes The other side Of the proPO-
By his bill he proposes to suspend the fines,
penalties and fUrteilures till the Sth OF January,
$50" on condition that the banks will do this and
hat They have only Suspended, and if that be all,
nd it is ALL see his bill and yet have incurred
forfeiture, why propose restrictions as he does. ,
is di emma, from which, the gentlemau's iDge-
uity, not his cantor, can help him 10 escape. Q
L am done with the subject, Mr. Chairman, have
cit it be my duty to examine and discuss thissub
ec anxious 10 do all that lay in my power, pre-
tote the interest OF the constituency that repre-
ent and to contribute TO the public good To effect
MS object, have proposed the bill lieu; and to
ecure that object | am ready to favor the PROPOSE
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