Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-08-22

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duty of the legislative investigating committee which
hssiust ouTn ed enquire how the Union and Plan
ters Bank stock directed TO be sold for the estab-
nshment Of the branches at this place and Knoxville,
has been disposed of by the mother bank at Nash>
Vile IL this be So we hope that that portion of the
report touching this point will be made public at
once The people here are anxious to know how
the matter stands, and they have no hope Of learn
ing il otherwise than through said report. They
have long since ceased to expect anything from 'he
powers that be-" except statement Of their side OF
the case made to cover up and conceal the illegal
snd Unauthorized scngs and doiDgs of the villain
Gus concern over hieh they preside. We again
call upon our friends Of the Union and American 10
give US light this subject, if there is light to be
had.-MemPhis Avalanche
Having no report or official statement to which we
refer for the information which friends Of the
Avalanche desire us TO furnish unable 10 give
them any accurate or reliable facts touching the
subject of their inquiries. The Investigating Com
mitee have not embraced these matters in their re-
port and we presume they were not authorized to
do So As we understand the resolution creating
the committee their duties were confined TO an in
yestiRsti5n Of the condition of the Free Banks the
accounts of the Comptrollers Office and the interest
paid by the State GA coupon bonds In order that our
readers may satisfy themselves on this subject We
copy the joint resolution by which the committee
was organized and under which it acted. (see Sem
ste Journal, page 1867
ssThat Joint Select COmmitte be appointed. con-
sisting Of TWO on the part of the Senate and such
number as the House Representatives may appoint,
with instructions to enquire into the mode IN which
the securities Of the several Free Banks have been
managed in the Office ofih Com proller; whether any
changes have been made in the securities; how the
accounts have been kept in said Office? TO enquire
fully how all matters touching the Free Banks have
been managed in said Cfiee. The Committee will
ascertain what amount of interest has been PAID on
the state coupon bonds; and what amount should
have been pa so as TO ascertain whether any pay
ments have been improperly made. The Committee
will report fully upon all matters referred to them,
70 The Governor on or before the first day Of October
next. That the Committee have power TO send for
persons and papers, and eyerythi necessary to a
full and fair investigation.
elf upon the making said report to the Governor,
the Governor be of opinion from the facts submitted
to him in said report there has been any violation OF
Law, snd that the interest Of the Stale requires
judicial investigation, be may at his discretion dl~
rect the Attorney General to institute judicial pro-
ceedings sga.nsI sll such person persons, ss in
his opinion have been guilty Of such violation Of
law.
''That they equre whether or not any Of the Free
Banks have received from the Comptroller any more
of the notes of their said Banks than State bonds
fled in the ComptrOer's Office as by law required;
and If any bonds heretofore flied have been with
drawn and others fled instead"
While Investigations do not enable us to state
anything authOritaively accurately,We are salts
ned that the States Stock in the Union and Planters
Bank has not been sold. We have understood that
an agent was to New York for the purpose Of
dspOsing Of said stock and that he failed to do SC
from the fact that he could not obtain gold and
silverfOr par With regard to the other nerrog
atories of the Avalanche, We have been unable Il
obtain any satisfactory information. The mode BY
which the branches have been established, whether
the capital stock has been paid in gold and silver
or in paper, and whether in whole or in part, can
only be asOertainsd from the officers of the Bank OF
by any investigation Of its books. We think it due
10 the people of the State that the Bank should give
full explanation Of all these matters, and hope
that such explanation win be made.