The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1859-05-20
Banks or No Banks- Corporations
or No Corporations.

4
| or No Corporations.
The people of Tennessee have to decid,
in August whether they will DESTROY th,
long established banking institutions nov
in existence, and adopt the an.iquatec
humbug of a strictly metallic currency, o,
whether they will support the presen,
system, after it has been, improved by the
most stringent safeguards and restrictions
The position Of the two parties is well de
fined, and no one need be deceived
The Democratic party takes the ground
primarily that gold and silver is the only
constitutional currency, and of course
they are bound to insugurate such cur
rency, should they be entrusted with the
power. Gov. Harris is essentially an anti
bank man. The Memphis Avalanche
| which is avowedly amotG the Hardest
which denounces a.fbanks, and scorns
all compromises outside oflgold and slve,
says Gov. Harris position on this ques
ton suits it precisely. f,0oy, Harris has
openly announced that heis uncpndition.
ally opposed to re-chartering the Union
and Planters banks-opposed to charter
ing any new banks at the next session Of
the Legislature. These banks are as
sound and reliable as any banks in the
country. 1t is true they suspended du-
ring the recent crisis, but not until after
the Bank of Tennessee had suspended.-
They resumed among the first--before
the Bank of Tennessee. They refused to
accept the legislation of the last General
Assembly, yet by their action brought
about the present state of our currency,
forcing the Bank of Tennessee into refor-
matory measures. Yet the Democratic
party-professing to be opposed to banks
upon constitutional grounds, and having
State institution, entirely the creature
ofthe Lenislature-are openly fostering
that Institution, and openly warning upon
q, good or better banks, over which the Leg
islature has no control. Ii they are sim
cerely opposed to banks, why not wind
up the Bank of Tennessee firstl DO they
propose to hold on to it, because they
have patizaa interest in keeping it alive,
while they are seeking to destroy institu-
tions which are above suspicioni
The Democratic party seek to inflict
upon the banking system an insidious
stab. They declare substantially that in
corporated companies shall have no vess
ted rights--that should the Legislature
give them corporate existence, and induce
them to invest their capital in preparing
to prosecute business, they are liable,
without cause, to be deprived of their
privileges by the Legislature. The Oppo-
sition party say that no man would invest
capital under such circumstances. They
take the ground that all acts of incorpo-
ration 1or banks or other objects should
be strictly guarded to prevent frauds, ex-
cept by Violation of their provisions, and
that whenever such violation occurs the
violator should not be allowed to 20 un-
punished until the Legislature may con-
vene-perhaps two ys0rs-during which
time he may commit all kinds Of frauds
and escape at last-but that it shall be
the duty of the Attorney General.to COM
mence process in,mediateiyagainst such of
fender, and bring him to the proper tri-
bunal or judicial, where he be subject
ed to the penalties provided i'll the
case.
This idea of the Legislature retaining
the power to alter, amend. or abolish the
charter of an incorporated company,
without said company having violated
any of the provisions thereof, or in any
way committed an offence against the
people or the law, is new tangled notion
In Tennessee legislation leas4, and as
far as we know, in the legislation of any
State. 1t is, as we have stated, only, an
indirect way of stabbing at banks, and en-
dorsing the metallic humbug. 1t embod-
les principle which, if carried out, would
upset all the order of business. We pre-
sumo no man who subscribes to this reso-
luton in the Democratic platform would
rent from his. neighbor plantation with
the understanding that, at the pleasure
of tha pxu he, -, ,,inlr
der and get out of the way. He might
purchase farming implements, stock, &C.,
and put in his crop, when the landlord
would come along and say to this oppo-
nent of vested rights: Mr.. Democrat,
are farming legitimately, and | can't
stand it," Yet the Democratic party an
nounce that they are in favor of incorpo-
rating this very principle into the legisla-
ton of the country. II would have been
more honest and manly--though less
characteristic--if they had at once an
nounced that they were opposed to the
granting of any acts OF incorporation by
the Legislature, under any circumstances.
Both positions reach the same result-one
travels two ways to reach it, and the 9TH
er is direct.-NashviAe Banner.
RkJ- The Richmond South has discov-
cred that the League of United South
erners" is a Know Nothing movement for
the purpose of circumventing and swamp
ing the Southern Democracy. The South
can see further into the upper and neither
millstones and find more mares nests in
the tall rank grass of sectional agitation
than any other glass-eyed politician of its
entire school. Does it not know that
Yancy, of Ala. is the head of the leaguers,
and that Mr. Ruffin, of Va, has the no.
toriety of its conception--both as clearly
Democrats as Felix Grundy ever was, who
boosted that he was born veteran in the
ranks. If there is anything of good OF
evil in the League, the Southern Wings
and Americans cannot Share its glory OF
shame. AS it was sired by Democracy,
and its dam Secession, we can imagine
without any great stretch of fancy. what
brood Of Calibans 1t will engender =
Louisville journal. "a 10 afiilr1sf' a =
roN.-The Florence (Ala.) Gazette
of the 4th says: