Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1859-04-13

away, but The pri-iges Of these proud and wealthy
corporations must not betampeFed With The Legis,
lsture may retain its power Of regulating sIl the
important interests Of society, all the dearest rela
tons Of life, but, it must not presume to control OK
supervise the management Of these favored, privi-
eyed and aristOcratic iustutions, called banks.
People Of Tennessee. the issue Is before you. You
mast decide at the polls whether you approve the
doctrine Of the Democratic party on this subject
that Of their opponents, as asserted by Col NErR-
ERLAsD wiz you retain the power Of controlling
banking institutions Is you control al other insti
tutions in your State, or will yeu permit dsspotic
nonopOlies To control your viii. you instruct your
representatives to grant privileges to incorporated
companies WhichmAy be abused with impznity, which
may beexercsedfo your oppression and injury. and
which cannot be withdrawn Will you consent 10
cothe few sealthy capitalists with the attributes Of
sovereignty aud bow submissiyely to their pOWer2
VIII you bee the subjects and the slaves of banks
Investing them with prerOgatives and powers
which you do not eajOy yourselves and cannot rs-
ealls win you crown a corporation, king, and say
'the king can do 90 wrOpgf" If you are prepared
for this you should place the Opposition in poWer,
for such may he The consequences Of the theory at
Dounced by their organs sad advocated by Col
NETHERLAKD. "YE ARE OPPOSED TO GIvIsG TIE
LEGISLATURE ANY PSwER OVER TIE CoMPANIEs."
Such is the doctrine they maintain. as
But Col. NETHERLAED gives a reason for his OPP
position to The power of the Legislature to change.
modify or abolish" the charters of banking corpo-
rations He says that if the Legislature retains
such power 8 member will come up 10 the Legisla-
ture and say, 'fhe banks have exercised their inhu
enee against me; they came very near defeating my
election; they did defeat the Democratic candidate
for fOater and for Senator in my district Let us
kill themi"-and Col. NETHERLAsD contends that
the member, full of indignation against the banks,
will vote to repeal their charters. Now, what ever
suggested the idea TO Col. NETHERLASD's mind that
such complaints would lie made against the banks?
Why should Democratic members urge these COM
! plants unless they believed them well-foundes.
They would not be likely TO cherish such feelings
unless the conduct of the banks had actually pro-
vOked them. If they did use their influence TO elect
an Opposition Legislature and an Opposition Gov
ernor We could easily conceive that all Democrats
and all honest men would earnestly desire TO crush
them out; and they would be right in doing SO.
Col. NETRERLAED, who is a Of information,
well acquainted with the management Of banking
Institutions in this State must anticipate that
such Influences will be used in elections. Other
wise he could never have imagined that the members
Of the Legislature Heuld make these allegations
agaiRst banks, and desire to destroy them on ac-
count Of the opposition they had experienced at
their hands. The Rannsr also, seems to think that
these institutions capable Of any kindcf cOrrur
ton that may promote thersinterests. Hear what the
NH 10 fha Of ham md krov SoIl
about them, says on this subject:
''The platform adopted by the Imposition Conven-
ton last Thursday, contains resolution which, if
carried into effect viii convert the Capitol into
''market overt for the buying and selling of legis
lation. Il is as follows
Resove That IS essential to the welfare Of the State that
~ al charters q ipcOrpOrs9n, grSne ey me sl
abolish these private and privileged interpretations as the public
gSSd shall demand.
incorporated companies usually control large
sums Of money The object of an incorporation is TO
concentrate capital Let such a company be placed
the mercy of the Legislature, contemplated by
this resolution, and what would be the result!
Whenever there the slightest manifestation of
desire to ''chenge modify OF abolish the incorpors
ton, its members would not hesitate TO open their
vaults and put their capital into active circulation
among the members of the Legislature"
Why would they rot readily and willingly
'open their vaults and put their capital into active
circulation TO obtain renewal Of their charter,
to prevent iis repeal They could as probably en-
plOy their means to secure an opposition majority
in the Legislature favorable to their charter,
in bribing members after they get there
But the Banner continues
Corporations Banking corpora
tiens-could well afford to expend from TO twen-
ty thousand dollars every session of the Legislature
Their capital is large and their profits abundant Ma
ny slegslaGure has been bought by less than half
the smallest Of the sums named. quart of whis~
Ky and basket Of champagne have often changed
the fate of a bill in the legislature"
That was, We suppose, in the Know Nothing Leg
islature of $3.50 But be that as it may this is a
fearful power, which the Banks have both the sbl-
ty and the disposition to according TO the Ban
ner, and certainly must be dangerous to the purity
of popular elections.
The Banner proceeds
"NO one can doubt that the sxillful use Of such
sums as corporations can command, would secure
them from all unfriendy legislation. The Jaw of self.
preservation applies to them we'll to individ-
usls and when their existence depended upon bleed
ing they would not finch from The opening Of their
veins any than sick man in q fit of apoplexy.
Their instincts would impel them to use the money
prOlong their duration, and long they could
command The required sum they would feel at lib
erty abuse their charter and exceed their privil-
eyes with IMMUNITY"
They can nov "abuss their charters and exceed
their privileges with impunity without paying for
it. The Democratic party wishes to place them in
condition that they cannot abuse their privileges
without forfeiting their charters. The Banner and
Col. NETHERLAND are resisting these wholesome
reforms and fighting for the unrestricted privieS
ges of the Banks. The Banks certainly have all
the motives which the Banner enumerstes, for aid
ing the success, of the Opposition. :" Their in
stincts may impel them to use the money" TO Sc
cure Know Nothing Legislature and thus "pro,
long the duration" of their present most Hbe-
raj charters. Let the people be on their guard |
against such influences The friends Of the Banks |
have confessed their readiness to corrupt spp-
ancss to secure improper privileges. We know
what reasons they have to favor the Opposition !
ticket Let, the honest masses be Vigilant and |
active
Col. NETHERLAND remarked in his speech last |
Saturday night at the Courthouse that ''any man
who could read, write or cipher, or could under