Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-02-19
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LArrEscrngns, Fsb. Is. 1s5s.

LAwRIEcBHURs, Feb. 10, 1855
u Msssrs Thos'g Broom and Z. AihO Beatleys
| GruTEEnRu: I would respectfully call your at
tsntiOn, IS representatives Of the people from the
Immediate vicinity Of the LaRreneeburg Bank Of
Tennessee st LaWrenoeburg, to the following facts
and reflections.
The LaWrenoeburg Bank Of Tennessee ct this
place to-day when ts notes to the amount Of eighty
dollars was presented at its counter for payment,
refused to redeem the same either in coin or current
bank notes. but permitted the same to 20 to protest
I am aware that the refusal Of this bank, in COM
mon with nearly all the rest Of the banks Of the
State, to pay specie on demand Of their respective
notes is no news to you, but certainly this bank is
now slow down" when, from profitable reserve,
or want and scarcity Of funds, 1t cannot redeem
50 smal an amount Of its notes in current bank
notes.
For some years past, you both must be aware, it
has been no great fayOrie with your constituents Of
Lawrence and adjoining counties. They have failed
see any good resulting from tito the great mass Of
the people, and have become fully satisfied that they
have no adequate recompense for the radical evil it
entails upon them. How few Of them could borrow
dollar Of III IT'S true afsw neghbors may possibly
have been accommodated" when they we're " right
on the goose" and knew how to vote, especially if
they would send it away of. The bank has scarcely
benefited any citizen Of its vicinity, (save those
interested in it, and consequent y is Of no public
advantage and benefit to your constituents. Per
sons Of its vicinity could not borrow Of it as o
general thing or be accOulmOdateJ by having their
notes discounted, because when the notes Of the
bank paid out in this vicinity, they, following
the course Of trade we're concentrated at Nashville,
and soon come into the hands Of the brokers there
who speedily called for ''the metal"
The brokers we're about to break the bank, and SO
the bank, finding it inoonvenient and intosrable to
be forced to fork over the specie, resolved like wild
cat banks, to adopt the little system Of expediency
commonly known Is "kiting; and so the Law
renceburg money was "kited" to Mississippi,
Alabama, and elsewhere, to save time suppose,
until "b bills, SC, would NATURE" and they get the
specie to meet the notes on presentment And 50
the people in the vicinity Of this bank derive no
benefit from it-and why?
1st. The brokers were about to break it up.
3D. The bank could not stand the brokers, be-
cause its capital stock was not paid in Specie
Sd. And lastly and principally, because the capt.
tai stock was really and bona as never paid in, but
by the around the-stump way of the bank discount
ing the notes of the stockholders for the capital
stock, or q great portion Of it, Of the bank. a
fictitious and false way Of doing things that passed
for something that was never done.
All Of which is contrary to good faith--WrOng in
principle and practioe-viOlave of the chatter Of the
bank-detrmenta to the best interests Of the coun
try at large, and of your constituents in particular
and only tending to the enrichment of 6. few at
the inconvenience Of the many.
Away with such mOnOpOlies as this, that is Of no
public benefit and but a osnkering sore upon the
body polite. Think well Of it, gentlemen. Does
not the public sentiment of the masses of your re-
sPsctive constituents well as sound cOrlsidera
ton of the public rights and justice demfInd the
repeal the charter Of this ineOrrigible ncOrPOra
ton. LAWRENCEBURaIky