Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-03-11
~ SENATE-EvENING SESSION.
TrFSDAv March


BANK OF EAST TENNESSEE.
Mr. GOODPASTURE called up his resolution re-
scinding the resolution adopted by the General
Assembly to institute Judicial proceeding against
she Bank Of East Tennessee, with view to declare
its charter forfeited.
Mr. TRAVIS moved to lay the resolution On the
table.
Tsas-Meszrs BuIleD, Davis, Harris Jones,
Neuecs McDougal, Reid, Ross, Travis, Whitthorne,
and Speaker Burch-Il
N0ys-Messrs Bratcher, Brown, Denton. Good
pasture, HeiskeH, McConnicO, Roach Walker.
WeIcher, and Wright-lO.
So the resolution was laid on the table
A motion to reconsider failed; yeas II, nays II.
THE CODE.
The remainder Of the evening was OCCUPIED in
reading the Code, and
Part MIL and NNIIL passed the first reading.
Senate adjourned until 81 a. IN, tomorrow
HOUSE OF REPRESENTATIVES.
TUESDAY, March g. 1858.
EVENING SESSION.
THE CODE
The SPEAKER directed the Clerk to proceed with
the Code and the part Xxi of the Senate's bill
No. o6, being read through, it was considered and
passed the FIRST reading.
BANKS AND BANKING.
The House now resumed the unfinished order
the consideration Of the bill Is. 2O7) for the relief
OF the people
Mr. BULLOCK resumed the floor, and proceeded
with his statement Of figures going to show the me-
ces5iiy of fostering the State Bank 4 crave
question was Iuv0iyed-the question Of the credit of
the State, which was to be sustained by fostering
the State Bank; by looping off its numerous
branches. lle would reduce their number to six,
and by increasing her power to deal in exchange
The Bank had been trammeled with burdens ever
since 10 was organized She started with the prom
Use Of capital of five Millions but never realized
much more than three; and she was required to nav
y per cent on the school fund-reqUired to paw
Sis 900 interest upon 81, 600 of that fund.
The condition OF the revenue, the condition of the
Bank and the prospect before US, all required &C.
ton here He received the proposition get along
without the Bank, advocated here by few gentle-
men calling themselves Hards. Ii was simpIv an
absu-diJy. Upon this bank question, his position
Was that Of an armed neutrality power in time of
war. lie addressed himself to the hari-monev men
Of the House, and amongst the examples of the
wisdom OF their doctrine, looked at the free CITY
Of Hamburg which, with s,pure metallic circulating
medium, was amongst the deepest sufferers in the
present coujuncfure Of monetary endorsements
tie traced the primary cause Of those embBrassments
TO the wildnass Of our speculaGons, far more than
To- the banks prudent industry, economy and
,epubHcau habits OF living would do more toward
restoring monetary and commercial prosperity,
han any system of war upon the banks lie did not
leclare his position the bill, but Indicated his
advice to The friends of the bill in regard to with
travail Of expensive branches Of the Bank. and his
apprehension that the amount of the loan might
perhaps, be prudenty reduced; when the bill should
come 10 the second reading, he should vote for it
and he hope 10 Il referred, suitably considered
Ind amended.
When he had concluded the vote was taken on
Mr. Turner, Of Summers motion to posuone-re-
%, nays 3i-as follow:
Teds-Messrs Algee, Blackburn, Brazeton, Can
rel, Carter Of Hardin, Copeland, Fulton, Johnson.
.ackey, Lamb Low, Mickey, Newbern, Newman.
}audoIph Richardson, Roberts, Rose, St John.
;chmittou, Senter, Shrewsbury, Stoval, Thompson.
turner of Sumner, Williams, Wilson, Wood, and
speaker DonelsoG-29
Ndvs-AIessrs. Anderson, Bsyless, Beale. Bent. !
av. Benton, Bullock, Carter Of Carter Cooper. Da.
lie, Dobson, Dunlap, Estes, Ewing, Frazer Gam
non. Griffith, Hamilton, Holmes, Ivie, Kendrick, |
Ieeney, King Lloyd, Nancy, Roulston Renshaw, |
.ovles. Smart Stanton, Summers, Turner Of Roane
White Of Hamilton, White of Knox, and Vaughn |
So the House refused to postpone indefinitely. !