Clarksville chronicle. (Clarksville, Tenn.) 1857-1865, 1858-11-05
THE PLOT TnIcKENs.


nothing caucus, upon the subject of the
currency, covered fraud and that the
covert design is to crush all the other
banks and then increase the capital and
multiply the branches of the State Bank,
and make il a vast political engine to de-
base and enslave the people. The cry of,
hard money is the trick relied upon to
defeat the re-charter of the Union and
Planters Banks, and that done, the public
interest is to be the pretext for enlarging
the capital of the State Bank to So, 000, 900,
and locating additional branches at points
most suitable for operating in political
stock. In confirmation of these views,
we have an elaborate argument from the
Hon Cave johnson, President of the State
Bank, against the hard money humbug,
and in favor Of an increase Of the capital
of the bank, and its perpetuation as the
all-suficient fiscal agent of the State, and
as competent to furnish safe and abundant
paper circulating medium for all the wants
of trade. Hear what Cave johnson says
about the hard money humbug:
"The State cannot dispense with the use Of banks
during the existence of the present charters with.
out violation Of their vested rights nor is il
probable that will resort TO exclusive gold and
silver currency at any time. The people have
been accustomed TO the use Of bank paper for a
half century. il is the currency in almost every
State Of the Union, and in most of the CONNER cal
Countries so intimately connected with the value
of property aud price Of labor--so convenient in
th trans actions Of every business, that its aboli-
ton, however gradual, would produce a revolution
In business and trade and IN The value of proper
ty. that would neither advance the interests of the
State or the people. If adopted, it would probably
result in the of the paper money of the adjOin
ing States, as is believed 10 be the at this time
in Mississippi and Arkansas, and would afford
less reliable currency than that furnished by our
own banks. 1t Is urged by the advocates of that
SYSTEM that upon the withdrawal of the paper
money its pl'ce would be at once supplied by the
precious metals. Within the last two years over
six million of the paper currency of the State has
been withdrawn from circulation, cannot see that
yet gold and silver has taken its place, il It has
not cone within two years, how much onge,
time will be required"
These are the views of the leader of one
faction Of Tennessee locofocoism, and if
they do not foreshadow the fraudulent
policy we have just charged, how does it
happen that the Union &c Ame,izau, so re-
Gently the active and noisy organ of the
hard money faction, all of a sudden be-
came mute and even publishes the forego-
ing without word of comment? For
months past, as the locofocos we'll know,
their organ, at Nashville, poured out, daily,
the walls of its wrath upon all banks, but
especially upon the Bank of Tennessee,
upon which it waged war of extermina-
ton. But a certain clark lantern" loco
foco clique met in Nashville, and without
advancing a single argument against the
positions Of the Union & american, that
paper suddenly became as silent as death,
and now sends forth to its readers argu-
ments against itself, without one word OF
comment. Why this sudden change p
Read the following from the proclamation
Of the President of the Bank of Tennessee,
and the reason will be apparent:
al entertain not a doubt that the Bank Of Tenn
essee and its branches, by prrper Amendments oil
its charter, and an Increase OF its capital TO tn
amount originally contemplated by its trainers
will be enabled 10 do the entire banking business
of the State, more satisfactorily than heretofore
done by all the banks, and pay annually into the
public treasury more than half million of dol
laTs--at the same time its circulation will he made
safe to it, holders by the ultimate liability of the
State for its redemption. And with such resirc-
tions as experience has proven necessary for the
proper control Of all banks, the currency may be
made convertible into gold and silver At pleasur,
of tho holder, and the exchanges kept equal in
every part of the State we should thus have one
and bn one paper currency, uhiform and safe
which would dispense with brokerage Of Ill sort,
by rendering It improbable. The bank thus mod
fled would b, THE Bank Of the State. aud at al
times subject TO the control OF the Representative
Of the people"
Surly, this position, taken in connection
with the third resolution of the currenc,
caucus, and the course of the Union d
American, can leave no doubt upon an,
rational mind, Of a prcmeditated and fxeC
locofoco purpose to break down all othe
banks and build up the Bank of Tonnes
see into monster monod power to b.
used as an agent Of corruption, and
public crib to fatten demagogues. Ant
the closing argument of the report, that
The Bank thus modified, would be TIL
Bank of the State, and at all times subioc
to the control of the Representatives 0
the people ought to admonish every tru
patriot of the danger of placing so might
an engine it the hands of party dema
gogues, twas objected to the T. s. Bank
ofwhich Cave johnson was the mplacabl
foe, that such vast monied power, undo
"ths control Of the Representatives of tn
people, was dangerous to liberty, and i