Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1859-11-03
,rouopoIies--stnte VS.. kirkland.


Is the business of banking trade, derived not
originally from law, but from the known rights of
mer, belonging in common to all members of the
body polite? If it be, then the act of 1927 against
private banking is void creating monopoly, and
all persons have the common right to engage in this
as in all other lawful trades
Offices for keeping money, charging for the keep
ing it, as the Bank Of Amsterdam did or paying for
the use of it whilst keeping it, as some banks do
and paving it out demand, in person or on check,
are mere commercial fixtures, and the business
simple commercial agency. 1t is found by expert
ence SAYS Gilbert and McCulloch, that where money
accumulates and commercial transactions are large,
there is less loss by fire, robberies, and other caus-
es, in public repositories than where each trader
keeps his own money in his own strong box. Pay
ment by check also, time, trouble and loss by
handling money SO that banks OF deposit are just as
necessary an incident of large trade as warehouses
are for the keeping Of cotton tobacco and QtFor pro-
duets of the field. forest and shop. The establish
ment Of these Offices, therefore, grew up from the
necessities of trade based Ioa the natural liberty
which every man, in the language OF Mr.. HeNE, has
to dispose of his own actions, provided be does no
injury to his fellow-men
in the time of the STEWARDS, and were Jews and
Goldsmiths of Lombard street, London. (MACAULAY's
EnglanI1 This agency arose ne more from express
law than did the right TO work in iron or bake
bread for the public, So the dealing in Exchanges,
or the purchase Of drafts on distant points and
selling them again, or the Transmission OF metqhc
money to distant points, and selling it to applicants
who want money at such points, without the risk
and expense Of carryingit themselves; this is
simple commercial agency, a trade and Offices are
established all over the commercial world, where
me, can get drafts on poihts, which viii be paid
when presented, and which is therefore safer than
to carry money either metallic or paper.
This business was not therefore, derived from
grant, commission, or legislative authority, but
fyom the known rights OF freemcn operating on the
necessities of human intercourse and traffic.
Bannkers who loaned money, who kept money,
and ,,bo furnished at their Offices applicants with
money at distant points, existed among the Jews,
Greeks and Romans and have, from time TO time,
sprung nm in all parts Of tie commercial world with
out any natence that it was necessary to have any
express legal warrant for ID cir establishment Banks
in California which keep metallic money and deal ip
exchanges amply sustaining the price OF labor, tie
price of property and all the great operations Of
exchange, sprung up, as part Of the necessary FIX
hyres OF trade, with all the advantages which result
to the community from composition in any depart
ment a business
Mr.. GALLaFiN, whilst acting as the able and efh-
cient President Of the Nationsl Bank of New York,
expressed ms asonishept that the statute books Of
New lofA should ever have Lad any prohibition of
the free establishment of such bans.s.
And Mr. JEFFERSON expressed the opiEigp that
such banks should receive encouragement by ser
hitting them = charge higher interest as they per
formed all the necessary functions of banks, with
out the issue Of notes, which, in the very nature of
things. could not be redeemed on demand. In the
very dawnngs of trade in every civilized country,
no sooner we're contracts made and debts created