Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1859-02-12
See First aad Fourth Pages.


The most serious obstacle to the Inauguration of
EtfOrm in the currency Of the State which the
friends of that policy had to eIeounter last winter
was the ALARM CRY raised by the Know NOthings
and repeated by few faltering Democrats, that it
would ruin the country. One said that the Bank
bill asst finally passed the legislature, would shave
the effect to destroy our commerce, bal krupt our
merchants and greatly distress the people" An
ether said that il would tendance the value of gold
and silver, and depreciate bank paper, which would
operate opprsssively upon the poor and lsboTng
classes" Another said "the people have spoken
against it, the press have poured wrath upon 1t,
(nesning the Know Nothing press) and it appears
alone az the creature Of Q conference committee
let it pass and be the blood upon the hands of those
who have framed and urged the measure" Ez-
tremely absurd and supplemental as we're these and
similar predictions against the policy of reform,
they were mot without effect. Many, while
duly approaching the enormiies of the then exist
ing system Of the Banks, and morally convinced of
the prOpriety Of reform, hesitsied from sheer COW
ardice dreading the threats and power Of the banks
and the cuckoo notes Of the Opposition. Many,
while believing, yet mstrusted, and thought it bet
ter 'to bear ills we have than fly to others that
know not Of" But the Democratic members had
the back bone to carry it through, despite the OBJ
stacles that were thrown in their way-the country
lie now beginning to experience its effects-and it
remains for the people to pass upon their action.
In commenting on this subject in a recent number
of our psper, and enumeratng come of the prophe-
eies that we're made By Know Nothing members
against the passage of the bill, took occasion to
ask:
"Has the country been ruined? Has the effect
been to impede any Of the legitimate branches Of
industry Has it in aDyWise increased the bur
thens Of the peOpef Upon the contrary, has it not,
thus far in its application, had all the beneficial eff
fects for which ii intended, and even surpassed
the expectations of its most ardent friends! Has
il not Topped on some Of the most serious abuses of
the banks, improved their currency, and given
grounds for greater confidence among the people,"
These inquiries have disturbed the equanmity Of
the Memphis Eagle and Enquirer, the leading organ
Of the Opposition in West Tennessee. At this we
are not surprised, as the judgment of the people
must be severe in the election against its par
ty friends for their i-advised course in the last
legislature on this subject But, strange to say,
this does not excite the interest of that paper so
much as the effect which it supPoses structures
may have upon the fortunes of such Democrats as
differed with the passage Of this bill last win
ter. The Enquirsr ssys:
The Nashville Uaisa and american contains an
tiele on the currency whose purport is not TO be
mistaken, and whose evil tendencies can not be per-
Ritted to pass uunotioed.
What are those ''evn tendencies" and why not
s'permit them to psss unnOiced?" One would sup
pose it TO be because Of their reflection on its party
friends; but such is not the case. 1t is purely
voluntary labor mission of love, that the Enquirer
seeks TO perform, explained by the following par
sgrsph:
We cannot suspect our contemporary OF the little
ness Of indulgng these "reminiscences for the mere
qualification Of personal vanity nor can we believe
that he esteems the fortunes of the Democracy 10
Tennessee in so lettering condition IS TO need this
little prop TO sustain them. We should be sorry to
interpret him wrongly but it looks to US as If this
article was sn entering wedge TO something which
Ia to follow We expect to see him gradually pro-
oress from 9 convertible to hard money currency
We expect to see before long the resolution Of the
Democrscy Of Weakley nailed TO the masthead Of
tbe Uaios. and we shall be surprised 1t all those
wbe do net square their opinions according to the
notions Of the Central Organ, are not uneeremonl'