Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-02-02

say, that one Of our leading bankslhs Union Bank,
at least, the Branch at Columbia-has discounted
little OF nothing since last March. What Is the
policy Of these two great monied mon0poies-the
Union and Planters Banksg L is, to 50 manage az
% contract and reduce the amount o. the ciroula-
ting medium Of the state, as 10 compel the Leesla-
ture that shall assemble here two years from now
70 recharter these sWindling institutions And vet
We asked to deal gently with such men as these
Sir, have you ever derived any benefit from DELAY
Wa this Legislature two months age better able
to pass a bank Dill than it is to-dayl
DIR Speaker; l fear thar ny prediction isyet 10 be
realized: that this General Assembly will adjourn
and leave their constituents as they found tben-st
the mercy Of the banks. Now, if they cannot be-
gin to redeem their notes by the first day OF next
November, (which is q longer time than they ask J
in the name Of God when can they begin? When
viii our good masters signify 10 their willingness
10 resume and pay their honest debts? The pretext
for their suspension, was the suspension in New
Orleans and New York, where they owed gold 20
our banks These cities have resumed and our
banks have no longer that excuse. They stand TO-
day without excuse for their suspension aud their
friends here are asking US to adjourn-gO home and
do nothing. What do their reports shoW2 That
they have bills maturing at New Orleans and New
York. On what are these bills based If thew
have not been engaged in an internal system Il
kiting they are based on the produce Of the eoun-
try Cotton is King. Here in the United States
we have that which will command gold The world
must have our cotton Bat the banks take IT, and
let the planter have their paper rags, lamp black
and oil They get the gold on this cotton at New
Orleans; but instead OF bringing that gold home
as q means WhereEith 10 redeem their circulation
and let honest men have their dues they convert il
into exchange and ship it to New York. They ship
the gold which belongs TO the labor Of the country
TO New York, and charge the merchant here from
five to ten per cent premium for exchange which he
is obliged to purchase Of them. This is the bust
ness Of the whole brood except the Bank Of Ten
nesses; for I am informed by her officers that she
has continued to sell exchange, as much as she
could, for one per cent. With this advantage tell
you sir, the banks never will resume. Now, sir let
US act am weary and sick Of this banking ques-
ton. am tired and sick Of my constituents asking
me, day after day, What you going TO do with
the banks We have as full q House to-day as we
shall have on Monday. Every man knows what be is
going 70 do. | say then, come up to the question.
Concur, OF non concur, you will. Let us have the
vote to-day. Letus be rid Of hsquesion. My mind
made up. The bill does not suit me: and 1 do not
suppose it embodies exactly the views of any gen.
tleman on this floor. B1t it is the best bill We can
get The whole question is: will you act at ALL or
will you leave the people in the hands Of the banks
limpugn no mans motives / wish 70 step between
no man and his constituents but always viii stand
between my constituents and the banks. My skirts
are clear. have defined my position have sub
mitted my own proposition, and l have voted for
others which L thought might subserve the public
good. have conceded, and conceded and am
still ready to make concessions for the sake Of doing
something. l say these things once for all; and
do hope, that for the last tine, have addressed
this House on the subject Of banks.
lTo BE CoETINUED.l