Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1859-11-15

ion. The GENT man says that the Missouri Ia vs.
ere nore strineens than ours. Now, if be viii
sgree TO substitute them for ours, win consent
lkeWie
Mr.. PAYNE here read from fbe laws of Missouri,
Mississippi. limos KealucEy. Virginia, and Louis
lana N support Of his position. He said: 50 far
ss l have been able t. find there is bat one State
which has such monument Of psst legislation to
marx us restricted notions the suejec Of finance
As tae state Of Tennessee and that is the Stare Of
New Hampshire would ask the Senator from
wilson to tell me if the banks Of Missouri are not
doing we'll. The Law has aot broken down their
banks.
Mr.. STOKES. 1t is expressly provided in Mis-
cour that thy should receive the notes Of banks
cut of the State.
Dir. PAYNE. TSe gentleman is mistaken. Mr..
PAYNE then read ON the Missouri Code What he
supposed was referred 10. He then said 1 can
fad such legislation. II the gentleman will
find it I will Of course read it The gentleman
Travelled out Of his way to attack the Governors
message. ask tbs gentleman to fOrbear ami talk
about the subjects before Don't let Us be drawn
away TO these little matters but let us raise our
selves to the dignity Of legislators unbranded By
any such narrow and contracted ideas.
Mr. PETERS said: Toe gentleman from Shelby,
mr.. PSyne) seems rather TO criticise my opinion,
and feel called upon TO make s0ms short reply
He seems 20 assume to himself that we on this
side Of the Senate he is rather the keeper
assume to act and vote for myseH The more this
matter is discussed, the an convinced that it
Is inexpedient. Il eOnvinees me that he is simply
re-esi abi-h hing the priva banking system. The
amepdDsnt proposed siufly discsiminstes between
he banks Of this ate AMI the banks Of other
States. 1t is true that Peep seiI under this Law
nigh avail themselves Of thr basss II this stare,
bur If they did not they would act like vampires
upon hem.
Mr.. fRlMBLE said / de net propose to discuss
h. question OF currency, though u is nec, s.srily
involved in the question before the Sense / cup
pose taat the object the nstor from Shelby (lr
Payne) ia to carry into effect the caption If the bill
10 encourage the Of private capital. 1 under
-tand that under thi bill private corporations can
be formed.
Mr. PAYNE. Inever thought Of admitting bank !
notes of other STATES. It would b indirect eo1Asct
with the interests Of my constituents; am willing |
to pass any general laws In regard to l.. But il /
other bank-nates are 10 he circuls'sd here, am
Wilpg hat private individuals should pay ne 10 /
these foreign bills. There is this difference be- |
I've, private irdvidu2ls and banks, that banks /
can issue their Own bills, while they are &c targ /
the gold on the f0rriga bills in their possession,
which the private individuals cannot do.
Mr. STOKES Will you vote for the smendmen
first proposedf
Mr. PAYNE. No, because if other bsnk-oills are
70 circulate it shOHd he allowed to private indIyid
uss TO use them. The L. gislsiure may pass q Law
to prevent their coming here. But If they come,
let them do some good Another thing. you grant
licenses to nOte-shAvere and they buy your Botes
" tn South Carolina money. Why not restrict them
in the same manner?
Mr.. STOKES. Shsvers cannot receive deposits
and diseOuat them. But By ycur proposition, pri-
Vate individuals have tnis right. You also put them
above banks and above brokers. Your proposition
invites 10 the notes Of other banks.
MT. PAYNE. The Law simply allows people TO use
the money which the Legislature says may circulate
in the S ATE.
Mr.. STOKES then read from the Missouri Code
the law 10 which he referred.
Hr. PAYNE said he vas Eilliug to have the pro-
position incorporated in his bill.