Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-03-04

there IS no good in them from beginning to end
taat they have brought upon the country the curses
that Samuel the Prophet pronounced when The cbil.
oreh Of lsrse would have King. to the rejection Of
the uoa OF Heaven-cuVses aud crises which every
man knows and feels as resulting from the robbery
Of labor, to iced and pamper monied aristocracy-
say am unwilling further to siren CITIZEN the hands
OF the banks which have done an this Sir
what do the bonks produce-vbst good Here il
the city Of Nashville, with her banks of circulation
sending out and collecting from every mart of tbs
Stats-but do they increase the wealth of the State?
Not q particle. They make few individuals
wealthy but whilst they are doing that they make
a great many poor. The few are gamers bv them
but sbe thousands loose L is bound to be So These
profits in trade all run back and fall updn the pro-
dueer-run back 10 the man that " earns his bread
by the sweat Of his brow. LISA tax the moor
man has to pay. If the banks afford accommoda-
tiOns by an increase of discounts, who finally has
to pay for it, The man who is the producer The
whole round Of profit and advantage, comes at last
out of the produce Of the labor Of the country. This
being the case, 1 am opposed TO the whole system.
am opposed 10 banks for another reason be-
cause wherever they are situated, and succeed in
making liberal profits, they build up mouied mo-
nopoly, which is able 10 crush every thing 10 its
way. Is not that true Just look around you, and
trace the history Of this country with regard 90
banks When Andrew Jackson attacked the Bank
Of the United States, this whole Union was moved
ityibrated from centre to circumference The money
power was brought to bear against the iron viii Of
that man, and 1t with difficulty that we passed
through the crisis Of that day ANY other man than
Andrew Jackson would have qUailed before that
monster how is it here now! Can you do any
thing with the banks here Strike at one Of them
if you choose. Try 10 wind up the State Bank An
are convinced that the only way TO get out Of the
clutches OF the banks is to wind up the State Bank
Andrew johnson, your late Governor. your present
Governor, the President Of the Sae Bank two wears
ago, have severally affirmed this But can il be
done? would as soon undertake to turn over this
Capitol with q CrOWbar, as / would think 10 inter
fere successfully with the Bank Of Tennessee.
know the banks are our masters do not pretend 10
say that this influence does not bear upon me-
know they cannot sway me by direct appeal: but
know how they can operate upon my constituents
and make me tremble 1 would as soon vote to create
title Of nobility, es TO vote for bank charter. 10 is
true the bankers are not nObIemen You do not call
them Sc Ny Lord But they have got the substance,
The power Of nobility, and they very well afford
to dispense with the name Sir, you have got priv
iegei characters among you-complnies not on an
equal footing with our fellow ctizens-I refer now
nos merely 10 the banks, but 10 chartered inc0rpor-
atoms Of every sort. The individual has to pay the
last dollar but your chartered interpretations escape
without paying their deb's. Therefore I say you
have created privileged class
"a
publcan-but republican in the true sense Of the
word-a republican and democrat. And when
cay am democrat, l mean 90 be understood as in
favor Of equal rights amongst the people of Ten
nessee- / want every man to stand upon his own
responsibility. / want the government 70 hold the
scales Of justice even amongst the people and let
the citizen work out his salvation. This is the
only true epUbicauism-the only genuine democ-
ra3y. am opposed 20 all banks-Bank Of Tennes-
see, stock Banks Free Banks and all other banks
every thing that makes distinctions and pam
pers privileges in the State Of Tennessee. And I
submit TO gentlemen who differ with me in opinion
that In voting for this bill they are voting 10 charter
two more bauks-a branch al Memphis and branch
at Knoxville. And now, if gentlemen are opposed
TO these institutions, call upon them 10 show their
hands. They need ust say this is not the time 20
ADJUST the difficulties growing out OF the money
poEer-tLat time VIII never come if the present Is
not the proper time. l believe the very existence
Of the banks are in the way Of every measure Of
relief II would not astonish me at any time be-
tween this and the expiration of her charter TO
witness the bankruptcy Of the Bank Of Tennessee
But The argument once was, thai she was flourish
ing, AID II would not do TO inJerfob with her then;
and now. when she refuses to paw the people what
she honestly owes them, gentleman say this is not
the time to wind her up: for some difficulty will
grow out Of It; IL won't do now; it viii ruin the
people, &c Sir is it possible that gentleman can
think the other banks Wilde nothing. Here Is the
Bank Of East Tennessee that has lately gone down,
on account Of which the people have lost a million
Of dollars. Thar amount Of our circulation has
been Withdrawn, without producing any special DIFF
hcuy; and say, thatIf one million Of dollars can
be Withdrawn, without producing percepti5ls dsas-
ter, cannot believe that the gradual withira val Of
The two millions of circulation Of the Bank Of Ten
ne5see would hurt as. If you take the three mill
lions, which is the amount Of her capital stock and
redeem three millions Of State bonds; then the State
viii only be indebted one million Besides you will
escape the interest on three millions Of dollars
and what is that. At six per cent, ii is $4,000
year. Thus you will escape a large drain upon the
treasury Of the State, and so much the sooner re
Leve the people from public debt
This Is the best pOlcy-the only safe democratic
poIcy,-my honorable friends oponi0n to the con-
trary, Notwithstanding. IspeaE the democracy that
my people hold, and 7 an obliged to say to my
honorable friend, who says he is ns good democrat
as 1 am-the honorable Senator from Warren said
he was the best democrat in the world an obliged
20 say 70 him. very much question his democracy
For affirm that the establishment Of every bank is
az war with every principle Of the democra party;
and / look upon this proposition as nothing less
than an attempt TO enforce upon the State a neces-
slty for re srtsriug the Bank Of Tennessee.
For these reasons, M. Speaker, which are sub
mltted with all due Difference TO the Senate, wish
TO offer an aueuduen, TO the BILL which is to strike
out The caption, and insert in lieu thereof the fol-
lowing words; "a Bill 90 aUth0rro the sale Of the
States stock in the Turnpike Companies, and 10
issue one million two huudr an fifty thousand
dollars, in State bonds 20 Incl ease he capital stock
OF the Bank Of Tennessee ami " enable that iust-
tuition to establish another branch at Memphis, and
another branch ut knoxville" submit that such a
caption would precisely represent the substance and
subject mltte- Of the bill, and upon that amendment
ssk for the ayes and noes