Clarksville chronicle. (Clarksville, Tenn.) 1857-1865, 1858-07-23
From the Memphis Avalanche.
THE STATE BANK AND ITS POLICY.


',In all that we have written, or may write about
che Bank Of Tennessee, we wish to be understood
na being actuated by no unkind feeling towar-s the
PrrsideDt of that Institution. We fully appreci.
ate his long and faithful services TO bis party and
20 the country we admire his sterling integrity
and do most sincerely regret the unfortunate po-
aition In which he is now placed. II IL posltion
that l. directly at war with the antecedents Of Col
ohnson's whole lie, and even at this late day, he
would do we'll TO relieve himself from the burthens
Of q conupiing and worthless Institution. ltwat
unfortunate for Col. Johnson, with his advanced
years and dilapidated constitution. that he evei
accented the Office Of Bank Presd ent II IL douh-
y unfortunate that after having done So he should
have confided its administration to the hands Of
gu coordinate, who, lscking both public CONFIDENCE
and financial skill, will only lead conhdIng old
man into still deeper and more inextricable difh-
culties."
The Avalanche doubtless believes that
Cave johnson is a strictly honest man,
and we shall not say that he is not, until
the proof fully sustains the assertion
But the foregoing suggests an important
query, 10 which we invite the attention of
the Memphis editor. That query is this
Where are the proofs that Morton has
mismanaged the bank and that Cave John
son hasn't? Morton is the Cashier, act
ing under the orders of the President and
Directors, and every act of his, under their
orders, is their act. IF he has disregarded
their orders, OF misapplied the funds of
the bank, in way to waste its capital and
impair its credit, the President must have
known it; and in retaining Morton in
Office, and failing to report his delinquen-
cies, when called upon for statement of
the condition Of the bank, the President
has exhibited ignorance, amounting to
imbecility, or he has made himself party
to whatever wrong the Cashier may have
done. If the bank is corrupt, rotten,
swindling electioneering machine, it is
perversion of truth and justice TO- say that
the Cashier is tho guilty party, and that
the President is a spotless and immaculate
official We do not know whether the
bank is solvent, or insolvent; we do not
know whether it has furnished one dime,
or 100000 for carrying the last election !;
We have our suspicious that it is rotten to
the core, and that all the locofoco intrigu-
ing, of tho last Legislature, was to patch
it up and stave off the expose of its rot
tenness but we don't know it, and
whether true or false, We shall resist every
lOcofoco attempt to shield its locofoco
President by fastening the guilt upon Ga
Subordinate"
The Avalanche ant other locofoco papers,
iH various parts of the State, denounce
the bank as "corrupting and worthless
institution and, though an exception to
cur general rule, We take their word for
the truth of the allegation. Conceding,
then, that they know the corruption of the
bank-that they knew it when the Legis.
lature WIS in session,-knew it when the
effort was being made to increase its capital
knew it when special law was passed
giving it the exclusive right to issue shin
plasters, we will not, in silence, look or
when the attempt is making to excplpatt
the locofoco leaders and, especially, the
locofoco President and Directors Of thu
bank, by heaping all the guilt upon tn,
head of the Cashier. Morton may be al
great knave as the locofoco papers asser
him to be; but if. so, We ask those editor
to tell us how they found it out, when tn,
President himself didn't know It'll
they know it, and the President does not
he is an ignoramus, and Gov. Harris i
severely eensHrabae for his reappointment
IF the President does know it, it is brazer
impudence to denounce Morton as a knave
aud laud Cave johnson as an honest mai
AS we'll might it be said that the mar
Who stands watch at the broken door, il
honest, whilst his partner who plunderl
the house, is the only guilty party.
Let us be distinctly understood. W,
do not charge that The bank is rotten, be
cause we have not the proof to sustain tn,
charge But the leading locofoco organ!
say that il is corrupt, and we are inclined
to believe, them, foS osOs, If they tel
tho truth in this instance, we plant oursel
upon that truth, and thus fortified, demand
the proof that the Cashier is aloas ;,
blame. The President is the man to whom
the people look fcs an honest adnainistEa
ton of the bank. If he hasn't sens,
enough to know when its business i
hgitimatcly and correctly done, he ough
to be removed; and if be has sepSs enough
and its busiHesa u s,oA SO oeRGaetsd, it i
an improper spirit that actustcs his par
tizans when they undertake to, crirainat
the Cashier alone, who olaias to. ba an oil,
line whig, and TO excuse the President