Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-01-03

The Gro0aTy Mnpohanfs Of Nashville hare dster-
mined hereafter 70 sell for prompt pay oaly. If
our Dry-GOOd Merchants, in town and country,
would pursue similar policy, or keep such accounts
only as are payable on demand, we should put q
stopper on the export of The precious metals, that
would 70 3 great Fay towards enabling the Banks
to resume specie payment, and to q restoration Of
the blessed era Of ''cOnfdence"-a confidence, too,
which no Bank panic could shake-a confidence in
the fact that We owe no man.
at is not always safe to speak the truth, - is an
old saying which the bodest are sometimes afraid
to violate. Upon subject Of such vital importance
to the interests Of our whole community, we shall
venture to announce, even at the hazard of having
another adage pointed Of u.s. that the wish is father
to the thought" one or two plain truths
Those who wait to be relieved of their pecuniary
embaIrassments by legislation of any kind, either
STATE or National, viii be doomed to bitter dsaP-
pointment. No doubt but men of all parties would
gladly unite upon such measure as would afford
relief, if they had the power, but they have not
They might it is true, relieve one portion BY tax
upon another. The present Legislature might, for
instance, borrow money at ruinous sacrifice, by
mortgagiDg farms, &c. to be loaned out TO those
who live upon Bank favors, but such monstrous in
justice is not to be thought Of, even for moment.
Rely upon this one thing, however unpalatable,
and the sooner we come to see and act upon it the
better, that each and all individually, must work
out his own pecuniary salvation, with such aid he
can get from kind friends But let no man trust &c
legislation or to Banks The Banks are as hard up
as the people, and are themselves calling for relief
as loudly as we. They can do but little for US ex-
cept to wait awhile longer for what We already owe
them, or help US send our surplus products to mar
ket. This last, all ready to do, and glad Of the
chance, if we offer them the right sort of assurance
that it is for that purpose and that our paper will be
promptly met. Perhaps, at present, we have right
to ask Tor but little else.
And this brings US to speak of enc other truth.
good deal of clamor has been gotten up by those
interested in Banks, until it has, some extent af-
fscted the minds of others; that great evil grows
out Of Bank discussions and Bank legislation, &c.
Not bit of it, if the legislation be Of the right
kind. What that should be, we not going to dis
cuss Just now. But what we mean to say is this
say what you may talk till your throat is sore, write
till your ink is exhausted, and it will not prevent
Bank in the State from discounting dollar that
ought 10 be discounted. All this tomfoolery about
the Banks not knowing what to do or that they can't
do anything for fear of the Legislature, will have
little effect in frightening Legislators from their pro-
priety The subject of banking is of great del
icacy, and one but little understood. Our Legisla-
ture has acted wisely in considering it WELL in
discussing it fully and we hope they will continue
to deliberate and discuss until their own views of
what right is fully matured. Let there be no has
~ action, because of the camor of Bank partizans
The people will accept such apology, if they ex~
coed or fall short OF the right work.
At a meeting of the Grocery Merchants Of Nash
vile, held on Inc 30th Dec, 1857,
h. J Morris was appointed Chairman, and 7. C.
Burge, Secretary. After the objects Of the meeting
we're explained, the following preamble and resolu-
lions we're unanimously adopted:
WhTsaS A financial crisis has visited all depart
mepts OF business, and impaired confidence and
credit to such an extent that we are compelled TO
pay cash for ali descriptions of Groceries, at a ruin
Gus rate Of exchange, in consequence Of our depre
ciated currency:
Therefore cit resolved That from and after the
first OF January next, the Grocery and Produce Mer
chants Of Nashville will sell no goods except for
cash, or its equivalent in produce and Il i orders
,or Groceries or Produce unless accompanied by the
l4sL, OF its equivalent in produce
AeS0tUed That we will each advise our patrons by
circular, card or letter, Of this determination We
feel Confident that the mt rchants trading at Nash
vile will appreciate the necessity of this course upon
our part, and we would recommend them to adopt
similar system with their patrons.
X. J. MORRIS, Chairman.
n