Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1859-04-21
THURSDAY moRNING, APRIL Ell, 1859.
The Currency.

The Patriot publishes resolutions adopted by sew
eral Democratic county meetings for the purpose Of
showing difference Of opinion among Democrats
on the currency question. Let us say right here,
that We know very well that here have been differ
ences of OpipiOn among Democrats and Wings on
many important questions of State Legislation which
has arisen within the last twenty years. Thus,
on internal improvements, the elee ion Of judges
by the people, Law reform, &c e., these differences
existed in both parties. 1t would not have been
wonderful had they also existed in regard to local
banks. The Wing party, as The Patriot viii recol-
leet, was always opposed TO the Slate Bank-at last
when twas in Democratic hands-while in favor Of
almost every other description of banking. We
think the Democratic party of the State is more
nearly agreed on the subject of banks and banking
thaneitehr party has been, in this State, for many
years, any other imPOrtOnt question Of State pol
icy. Differences as to details may exist; but all
arc agreed that better security is required for the
cOnverbiiy of paper into coin, the suppression Of
small notes. the REDEMPTION of all bank bills at the
counters where issued, and the substitution of
specie for paper in the ordinary transactions of
trade to the greatest practicable extent 1t would
not be wonderful if men equally intent on these
great reforms SHOULD differ as to tie extent to which
they may be safey Immediately carried but we do
not think the PARROT makes out very strong case
Of such difference. Thus, it quotes the following
resolution, adopted by the Democrats of Franklin
county, as "advocating exclusively mctali, cur
renoy: -
"ResolUed, That in our opinion no bank should be
perlluted TO exist hereafter without throwing
around it such guards aud restrictions will en-
sure cireulations at all times convertible into gold
and silver and render them strictly responsible for
a failure to establish such circulation, ard that the
Banking Capital so used should be reduced to the
smallest possible amount, that would meet the
wants and demands of the trade and commerce Of
the country"
On the other side the Patriot gives the annexed
resolution adopted in Bradley county as opposed TO
metallic currency:
" ResolUed That an attempt at this time, in Ten
nessee TO resort TO exclusive metallic currency
would be impracticsbIe and in view OF cur CONNER
cial relations inexpedient and injurious ali the
industrial pursuits CT the country"
We express our inability to perceive the'irrecon-
oilabe difference which the PARROT supposes to ex-
list between these two resolutions. We do not re-
member ever to have heard the instant return to an
exclusive metallic currency, referred to in the Brad
ley resolution, advocated; yet, if the admirable
olution Of the Franklin county democrats, in favor
of a circulation at ell times convertible at the will
of the holder into coin cannot tie carried out then
perish the whole brood, say We and we know enough
of the democrats Of Bradley to know that they
will join us in saying yes.