Nashville patriot. [volume] (Nashville, Tenn.) 1858-1860, 1859-08-03
From the Memphis Bulletin. July 81. !

From the Memphis Bulletin, July 81
The Boftomless Graves.of the Banks.
The Avalanche of yesterday has charac'
teristic article addressed to its party friends
1t asserts what it cannot prove, that the OPP
position chartered every wildcat bank" In
the State That paper is very poorly read in
the legislative history of the State, If 1t does
not know that the creation of the "wild-cat
banks'' 1t speaks of was no party measure,
and that no party division grew out of the
question. Wings and Democrats alike voted
for the charters, and Wings and Democrats
alike voted against them. We defy the
Auaionche to prove the contrary. How alb
surd, and how intensely partisan then it is for
that paper to rush biindly and headlong into
an assertion that it cannot prove. We deny
that the Opposition, as party, are RESPONSE
bic any more than the Democracy for the ex-
istence of the exploded banks of the State.
After telling lis readers of tue awful things
that would result from Opposition ascenden-
cy in the State. the Avalanche scatters from
its ink-stand the following gems:
But if you retain the Democracy in power,
the reformation so nobly begun will be faith
fully and earnestly prosecuted;
And under it '.wild-cat banking" will be
crushed out:
The shin-plaster policy will be abandoned !;
The people aciH be lifted aboce the banks, and
the banks placed belos0 the people;
Expansions will be prevented contractions
avoided, and panics and revulsions provided
against;
Your currency will be established upon a
sound and reliable basis
Your credit elevated and strengthened at
home and abroad;
The wealth and resources of your State in
creased and developed
And you rendered one of the freest. happi-
est and most independent people on the
globe.
Behold how they glitter! But let us put
them to the test. Let us try them by fire.
Let us see if these diamonds will cut glass.
In other words, let us see how all these brilli-
ant things are to be brought about. In an
other article in the same paper, after stating
what the editors of the Enquirer hare been doing
heretofore, we find this language:
Now they are engaged in the equally wild
scheme of seeking to defeat the Democratic
party, by making John Netherland Governor
Vi lcHntfSccI anu. HI Va thiS
object, they are arguing to prove that IRE are
favorable to the continuance of the State
Bank-an institution that we have again and
again denounced, and that we hope to see
sooner or later buried in the same bottomless
grave with these reckless and dangerous
shaving shops known as the Union and Plan
ters' Banks, which they are SO fond Of caress-
ing and eulogizing.
Here is the memorable test. After the
State Bank and the Union and Planters
Banks are buried in .'bottomless graves"
how much bank paper will he have in circu-
lation? And pray tell US hoao the ''reforma-
ton, so nobly begun, will be faithfully and
earnestly prosecuted" 1t can only be by
a resort to an e1clusiUe hdrd-money currency. is
that what you mean by your reformation"
Again, the wildcat banking will be crush
ed out" says The Avalanche. This, ofcourse.
is to result from burying the State Bank and
the Union and Planters Banks in "bottom-
less graves" and return to a specie curren-
cy."
"The shin-plaster policy will be abandon
ed" Yes, by abolishing the three best banks
of the State, and returning to hard money.
THE people will be lifted above the banks,
and the banks placed below the people,"
Ofcourse this will be the case when the three
old banks are in their .'bottomless graves"
and hard money takes the day.
Expansions will be prevented; contrac-
tions avoided, and panics and revulsions pro-
vided against" Oh yes, there will be. no
danger of expansions under the hard-money
theory. 1t will be contraction so contracted
that the people will be compelled to forfeit
their contracts. Panics and revulsions will
be universal under the reign of hard money.
''Your currency will be established upon
sound and reliable basis" By burying the
three old banks in "bottom graves" and
'eturning to hard money.
Your credit elevated and strengthened at
iseme and abroad" By driving five millions
Of capital from the State.
1.-THE wealth and resources of your State
,lcreased and developed" By hard money
and no banks, of course.
And you rendered one of the freest,
,appiest and most independent people on the
globe" By burying the Bank OF Tennessee
md the Union and Planters Banks in "bot-
tomless graves" and returning to an erclusipe
hard money currency.
Democrats, this is the feast to which you
IRE invited. Behold how the viands smoked
?his is the prosperity the Democracy have in
store for you. viii you accept it? How
an you refuse it? This is the reformation
90 nobly begun by the Democracy viii
lou not assist them to effect it? Will you
aot assist them to the "bottomless graves of
.ie three old banks? Let the Democracy re-
pond to the clarion notes of The Avalanche
shat peal along the lines. Hang out your
Democratic banners over the "bottomless
graves" of the banks! Sound the rams
horns around the wall of the shaving shops"
Charge!
NOTEWORTHY KINDNESS The considerate
Geographic Reporter at Louisville for the
associated Press of this city, is a gentleman
i