The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1858-11-12
THE STATE DANR-COL. JOHNSON'S
LETTER.

We last week published letter from d,
President Of the Bank OF Tennessee. IN - iieI
he recommended the siai.u. sp Of the :S,oci
Banks aud the enlargrin-at Of the capital o.
the State institution to meet the eEi-vney IL
the currency that would inevitably be- caused
by the withdrawal OF the Union aud Planter,
Banks As the earrenry question, and il,
eoliaiersiS, viii eri,r largely into the nexI
Stale canvass, and as Col. Johgsoa's letter /,
regarded as Jeeier Of The public pulse, ",
shall place on record IN our columns III,
opinions o. the press in different parts Il (
I Commonwealth IN rey.rd to the position,
assumed in that bitter, as they may reacI ,'
DIFFERING our own reflections TIL some o,
time. We commence With the Eagle ana
ER9'4irer, Memphis. That paper, after re.
4. view lng the Bank Statement accompanying
the letter, says:
We pass over much cf Mr. Johnson's let.
4 ter, agreeing with him ~ We do that bank.
are necessary for the business of the State
We utterly repudate his doctrine that the
stock banks should be ahpished and the
! State Bank made the monster institution he
! desires II 10 BE-. As il is at present formed
| it can be made an engine in the hands Of un-
scrupulous partisan and political demugos ues
| to be used us means OF corruption and bri-
| berry. Remove from il the checks imposed
by the stock banks, aud the temptation 90 To
use it would be increased thnnshnd fold.
| This proposition OF prominent democrat
| like Cave Johnson, is suggestive. Ia this
connection should be remembered the quasi
hard money platform issued bv the DemO-
cratic caucus OF big wigs which assembled nj
| Nashville not n great while since. Cave
Johnson flies directly in the face Of this, and
| adheres 10 the old pet theory Of the Jackson
ian democracy OF monster State banks.-
Herein is shown in glarlng cOlors the hypo
crisy and double dealing of the democracy
They are terribly opposed 10 banks of issue
they want hard money currency, whenever
| they think that is 10 favor with the people;
but while all the time making these profess
sions, their hankering for means of power
will occasionally break out. They have in
| point Of fact, created more banks than any
other party that ever has existed.
Let us, in considering this proposition of
| Hon. Cave Johnson, rccur to the arguments
of the Democracy against National Bank
They then avowed that snch an institution
would be used by politicians TO corrupt the
people, the government and especially Con.
gress. What, let us ask, would be the differ
enco in the working of State institution of
similar nature! There can be none what
ever, except that tho field OF its operations
will be more limited in extent. Not single
argument ever advanced against National
Bank, but will apply with equal force to
State banks similarly organized. Indeed, Il
State Bank is infinitely worse than National
Bank; for the Latter could be so organized ns
TO be under the influence and control of no
particular or single party, while the former
could not
We are, in some respects, much pleased
with Cave Johnsun's manifesto. lie pOurs
hot shot into the ranks OF the hard money
wing Of the Democracy, and we hope he will
give them few more vi the same sort be-
fore he stops.
Tho second article is from the Franklin
Rerieg, AS follows:
State Bank and Col. .johnson'S Letter.
Upon the occasion of making his pcriodicu
report tn the State authorities, the President
y, Wv '. ,,o, ";,,,nll, ,n ,ba rrph,;. s,",in,,
800 49,, ,,no,ot ,aI;,, ~ ,r S.
ms 10 " t"u a rG,,N, '"u
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'n' P"'s .'' -, W '"' i"'aA,,I,,ia M, !,
r we u" NV .''J"'o w. " ~ ;ns,"a,,,; m w.
~ s'ir AND c"pi Ji,.rs.;', ~" ,hn ""L
;ir'.t w. I.ayat b., .,a,o,non,, Of C,lnn,I
Tx ,at,o,' 70 ha ,.on,.oys,,a3 # t,n,, and ;r.
,i,a 90, .,o,;,a hr thnso ,,hnso n,,si,;,n nnJ
onnns,,nii;n. bot,, a",rl. md iny;,a tho,, ~
snrrpn,;niyn bis assertions
o. '''''" no -,