Nashville patriot. [volume] (Nashville, Tenn.) 1858-1860, 1858-09-08
Gold and silver Currency.

n
Several days ago, we asked the Union and
American the following questions:
l. Is it in favor of rechartering the Union
and Planters Banks?
2. Isit in favor of placing the Bank in
liquidation at the earliest moment that that
step can be taken?
B. Is it in favor of restricting the payment
of State and county taxes in specie, or any
other mode of at once banishing paper money
from the State?
Our contemporary thinks it hardly respect
full for us, who ought to know what his views
are upon these subjects, to put such questions,
but oblgingly valves all exceptions, and an
swers. 1t is quite true considering the cX-
traordinary amount of time and talent our
n,igbbor has expended in the discussion of
BANKS and Banking" ought to have
known precisely how he stood on these ques-
tions; but we really feared that between our
dullness and the cquivocal character OF many
of his oracles, we might possibly misintcrpret
him. 1t was therefore, and with very sin
ere desire to be, as well as appear, respect
full, that we asked for au explicit" definition
of our neighbours views in relation to the cur
rcncy policy he desired TO see pursued in
Tennessee Our neighbor thinks that we pro-
fessed to have been wearied with the frequency
of his articles on this very subject during the
last session of the Legislature. That is pro-
badly true-but our WEAKNESS was not in
duced. simply, by the length and frequency
of the articles, however fatiguing they might
be- as they came but once day; but our i'm
preston then was that the time was more
peculiarly suited to action. We could very
well afford the labor of reading our neigh
bT's lncnbrations for sliinh ba~o
ght to boast of our powers of endurance,
when we affirm that we read them all-even
when they were but different forms of ex-
preston for the same idea, and threatened to
be interminable. The time was most oppor-
tune for the democratic party to engraft its
currency policy on the State, and we repeat
eddy urged it upon them. The party had an
overwhelming majority-the banks had sns-
pended specie payments-it was asserted that
in so doing. they had forfeited their charters,
and we implored the party to show its faith
by its works. Our neighbor was exceedingly
busy with "words, words, Words" but not
step was taken in that "slow and gradual
process" which was to bring about that happy
era of u gold and silver currency, so much
desired by our neighbor. At the termination
of the session, We found that neither the
frequency of our neighbours articles nor our
own exhortations had been of any practical
benefit. The recommendations of Governor
JOHNSON to two successive Legislatures, and
Gov HARRIS, and the belief of .'every gentle
man who had been President Of this institu-
zion, (the State Bank) from Mfr. NICHoL
down." was disregarded, and instead of plac-
ing the State Bank in liquidation, it was
favored, and if anything, put on a surer foot
ing than ever. We were 'wearied" with the
bitter and unreleniing warfare upon Banks
and especially the State Bank. when u bill of
q half dozen sections or less in the hands of
a Legislature largely democratic in both
branches, could have put out its life, and all
the questions growing out of it, TO rest for
ever.
But to the Union and American's answers.
The answer to the first question is an I'M
equivocal negative. Our contemporary is
opposed. under any circumstances, to rechar-
tering the Union and Planters Banks, and OF
chartering any new ones. The charters OF
both these banks expire on the first day of
January 1868.
The answer TO our second interrogatory is
far less explicit. The Jnta. and -A,aey,oau
concurs with Gov. JOHNSON that the best in
tercsts of the State required that the Bank
of Tennessee should be put in liquidation,
aud its concerns closed at as early period
as the convenience of the citizens will allow"
But, las to the particular time ut which this
institution should cease TO exist, or the par
ticular mode by which its affairs should be
gradually iquidatcd-whether il should con-
template the length of time granted by its
charter or shorter period for its faal ex-
tinction, are matters comparatively imm,,-
terial." The Union and -4Isenioua is certainly
unfortunate II says that the bank ought to
be wound up rs soon as the convenience of
the people will allow; and then that the
period for its final extinction Il immaterial.
The period for its final extinction is the very
essence OF the thing. But who is to be the
judge of when this can or shall be done IT
successive Legislatures are TO postpone the
matter from time to time, how long is IL
likely TO continue. In our estimation the
convenience of highly prosperous CONNER
eial people will always require bank facilities
of some sort. When and how and before
whom do you propose to test thai question ?
This answer of our neighbor is not explicit,
and therefore not such IN one we desired
The Union and american further says, THE
most we desire for the present Il that the Ian
guage of Col. JOHNSON In his report 10 the
last session Of the Legislature, shall be agreed
upon the general sentiment and settled
policy Of the people, that the true interests
Of the State hereafter will be best promoted
by dissolution Of ell connection with Banks
a. as early period as the finances Of The
8 ate will admit it, II IL Is then thought
beat, as means Of extreme prudence, to con-