The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1859-06-03
A ..-,rsrs. lProm the oppos,ion.l
4ho Union and the Planters Banks.

u |uN.al
4he Union and the Planters Banks.
Agsinst the rc-charter of these. institu-
tons the leaders of the DEMOCRACY have
set their faces. Governor Harris exptess-
cd not only his own, but the sentiments
of the leaders of his party, when, in his
opening speech at this place, lie ,avowed
his uncomprvmising opposition to their
re-charter. Thecertai refusal, therefore,
by the next Legislature, to re-charter these
institutions, should the Democrats have
a majority in either House, will be the first
stepin the attempt to introduce an ex-
clusively metallic currency.
The effect of such refusal VIC now pro-
coed toshow: ut. yI
From the statements of these banks,
of January last, we take the following
items
Union Bank:
Capital Stock, all paid in, Sl,774,709
Surplus fund, 534,S15
Discounted notes, 1.2l0.576
Circulation, 1,662, 90l
Planters Bank:
Capital Stock, all paid in, Sl,355, 400
Surplus fund, 459, 1875
Discounted notes, 1853, 1913
Circulation, 1888, GAS
Exhibiting an aggregate of capital stock
of SO, 100, 100, with an aggregate surplus
fund of S99I,0l0, which last stands as
permanent additional security to the
note holders and depositors, and which,
added to the capital stock, makes the
sum of banking capital possessed by these
institutions to be S4,l241 l9.
Shall this amount of banking capital
be driven out of the State? Upwards of
two and a half millions of it, (S2,5G3, 49,
it will be seen by the above figures, is
loaned on notes, at an interest of 6 per
cent. Shall the people of Tennessee, by
the act of their own Legislature, be de-
prived of the longer use of that amount
of capital, at 6 per cent. interest.
The aggregate circulation of the two
banks, as will be seen, is upwards of three
millions and a half of dollars, (S3, 526, $3.50. J
Shall that be called in, and the aggregate
of the circulating medium of the State
be cmtailed by that amount?
Shall the farmers and planters of the
State in the annual sales of their crops
the merchants, in the transaction of their
I'business-the manufacturers, in carrying
on their diversified operations-the me-
chanics, in the prosecution of their trades
(, the laborers by the day, in securing EN-
ployment at fair wages-shall all these
be causelessly and wantonly deprived OF
the benefits derived from the use of this
four millions of capital among them-ot
the benefits of the distribution among
them of two millions and a half of this
capital in loan at six per cent.-of the
benefits of this amount of three millions
and half of the sound, convertible cur.
rency which, penetrating into every nool,
and corner, into all the hills and hollows
of the State enlivens every department
of trade, quickens every branch of indus
try, facilitates the sale of every class OF
our productions, agricultural, mineral and
mechanical, and lastly contributes direct
ly and extensively to the employment of
every description of labor at remunera-
ting prices?
We have said that the effect of the re-
fusal to re-charter the Union and Planters
Banks woald be to drive out Of tie State the
four millions of capital possessed, and en-
ployed in the State, by these institutions
And so it would-because, the capital be-
ing owned almost entirely by non-resi
dents, would be returned to its owners,
and go to enrich other communities.
Thus, the first step in the attempt to
establish an exclusive hard-money cur.
rency, would be the expulsion from the
State of four millions of dollars of hard
money, or its equivalent in exchange ere,
ated by the shipments of produce to that
amount. In any form in which the trans,
fer might be made, it would be the same
as if four millions of dollars worth of the
produce of the State were sent out of it.
and nerer a dollar received IN the State in re-
turn.
A WORD TO PARENTS VINO HAVE CHILDREN
AT ScnooL.-A contemporary says: If pa
rents do not feel sufficient interest in the
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