Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1859-06-12
The Discussion NJ Franklin,


very fine audience assembled at Frenklin on
yesterday to hear the discussion between the can
didates for Governor The citizens Of the county
turned out in large numbers, and the cars from
Columbia and Nashville brought large sccessiODs to
the crowd stand was prepared in beautiful
grove the village, and when the candidates ar
riYed there were several thousand persons on the
ground.
Gov. HARRIS opened the debate in one of the most
foTcible and conclusive arguments which has ever
been delivered from the stump in Tennessee. he
commenced with clear AMI comprehensive state
ment of his position the currency question. He
referred 10 tue deranged condition Of the currency
Of the State at the time the last Legislature
bled. The banks we're 10 a state Of suspension, re-
fUsiBg to redeem their circulation and Offering no
accommodations to the people Exchanges on the
East were selling at from 10 10 per cent, while
the credit Of The State had SO much appreciated in
he Eastern market that its bonds we're work
Inly about sixty Eve cents in the dollar In this dis
:ressing state of things he had been called upon
BY the Legislature - propose such measures
he thought necessary to relieve the country and
restore the currency Of the State to a sound and
healthy condition He accordingly seat in mes
sage containing certain suggestions which for the
most part, we're adopted by the Legislature, and
incorporated into O bill which is nov the law Of
the land.
Under the operation Of that law the most happy
results have bean accomplished. Tho Banks are
now paying specie at their cOun ers, the Commerce
Of the country has revived, exchanges On the East
at par and the bonds the State are worth from
90 to 30 GEMS On the dollars most decisive ana
sstsfaotOr, viudpoatcn Of the CORE ctUcss of the
policy established By the last Democratic Legs.a-
Bat, said GOV. HAEsIs, the charters cf the
banks in this Stat; have Ell constructed on such
loose and erroneous principles that many Ct the
abuses which have grown up under present sys-
tom of banking, cannot be CORRECTED by The Legis-
lsture. The Banks may live in direct AID open de-
iaue. of The Ehalss, M restrictions imposed upon
them by the Legisist re. He, was therefore, IN ia
vor Of A CJNPLErE AND THOROUGH RET. RMATloS
OF OUR WHOLE BASKING system.
He would never c9Dsent to the enactment Of an
other bank charter without reserving the right to
the people through their representatives to charge
modify, abolish such charter Rhtnsver the pub
lie good might require it With this provision in
csrporGted the charters Of Banks, the Legisa-
tiOns, and could at any line force them to accept
such conditions as nigh be necessary 10 protect
the people from such wrongs and injuries as they
had lately suffered IOm those institutions 1t would
render the banks ct sill tires responsible t, the
people and they would thus be compelled to consult
the interests of the community ratker than their
own avsrico or ospriees. Without this restriction,
the banks are beyond sud above the power of the
people, and will become instruments of the gross
est oppression. Tnsy will become independent
SOvereigbties defying The power of the legislature
which crested Ihem and superior 10 the will Of the
people. Gov. HARRIS was unwilling 10 invest cor
POrstions with any such danger us and despolic
powers. He though; TIE PEOPLE SHOULD GOVERN
THE BANKS, AND NOT TaR BASEs TIE PEOPLE. |
This ives the issue between him and his competitor
on this important subject
He was in favor, also, of making the stockholders
individually liable their creditors for their detts
as persons engaged in other departments of business
are. He would never consent to the charter of an
other Bank without this provision. Gel NEITHER
LAND, on the other hand, had voted against propo.
Sition t. make the stockholders in Banks ndividu-
silly responsible for the redemption Of their notes.
Here is another issue for the people to decide
Do they prefer safe, so.veGt banks responsible to
The people for their issues and subject 10 have their
charters taken from them for misconduct or do they
prefer system which ezempts their stockholders
from liability and leaves power to the people TO
repeal their charters: Gov. HARRIS wss in favor
If the former system, which had been introduced
With the best results in most of the great CONNER
,isl States Of the UnioD. CJl NErHERIAxn is COM
II e.. - csb.r NH. bo. .
md Sban6oned in New York, Pennsylvania, Virgin (
o and nearly al he old S, stcs.
Col NETKERLISp in reply took ground in favor
4 irrepeslab.e charters, proposed remedies for
be evils Of our banking syatem, illustrated Gov.
HARRIS position by aneodOto, but failed 10 salts
y the crowd with regard TO his own. We shall al
ude 10 ether points in the discussion hereafter.
MONTGOMERY CoUkTY The Democrats Of Mont
emory county have nominated for the Legislature
sferlinv Democrat in the person Of SAMUEL p