Nashville patriot. [volume] (Nashville, Tenn.) 1858-1860, 1859-05-16
STATE EXECUTIVE COMMITTEE
MONDAY, MAY 16, 1859.
Hanks. or No Ranksf


"That is the question: in substance and
effect, now presented TO the people OF Ten
nessee to decide. The position which Gov.
HARRIS has assumed will result in refusal
to re-charter, and consequently in the wind
ing up. of the Union and Planters Banks.
Unless these Banks are re-chartered by the
next Legislature, they must prepare to go
out of existence at the expiration of their
present charters, by drawing in their circula-
tion and stopping their discounts &c. These
Banks are sound and solvent. Nobody has
lost anything by them,--they have stood up
to their engagements-have afforded large
amount of sound cCrrency--and have shown
that they have been willing, for two or three
wears, to pursue the "counter-note" system
of business-ever since that system has been
prominently before the public mind-and they
adopted and acted on it, voluntarily, and are
now doing so. There can be no objection to
these Banks which woald not apply with still
greater force to all other banks. These have
been tried, and have proved sound and faith
full. Those that may be hereafter brought
into existence by the singularly absurd pro-
positi "a of the democratic platform,
NAV or not be sound and reliable. Our own
opinion is that good and reliable bank can
not be constructed on the plan indicated by
Gov. HARRIS in his speech at this place
At all events it is uncertain.
Why then give up these two old banks that
have weathered the storms of the past, tor
the mere chance of making others that may
or may not answer the demands as well!
Why war upon them, when they are I'M
questionably reliable? If they cannot be
held up and sustained, can any others be?
The knell of the Union & Planters Banks, is
knell for all hanks for if these are not to
trusted, we can have but little faith in any
Others. There is no use, therefore in disguis-
ing or concealing or postponing the question
The object of the party in this State, under
its present. lead, is to destroy the banking
system. and 10 resort to an exclusively gold
and sllv, currency. This is the issue and the
only one on this subject. The Oppositionhave
declared themselves in favor of a sound and
peH regulated bankng system, The ISSUES 'ohereof
shall. 5y being payable an thar face at The place
trhere issued be c0nuertbie at The lDH of the holder
into the precious metals. We oppose all shin
plaster shops and wildcat institutions. We
believe that good banks are necessary to facili-
ate the business of commerce and trade; and
that the State of Tennessee, its citizens OF all
classes cannot do without them, and carry
on an enlarged and prosperous trade. II
the system is liable to abuse, and has been
abused, we are for preventing, as far as the
lights of experience will warrant, the re-
currence of those abuses, by additional safe
guards aud restrictions.
We care not to enter into a discussion OF
the relative powers OF Congress and the States
over the subject. The course of Federal le-
gisla ion. has for time, at least, devolved
upon the States. the duty of taking care OF
thems Ives in this respect. In obedience to
this duty and what we conceive to be the i'm
pcrative demands of the public interests, we
place ourselves against the theory OF an ex-
eiusisely gold aud silver currency. In the
progress of the present canvass. We shall give
cur reasons at length for this position. We
desire now simply TO state the issue, and TO
invoke the serious consideration of the people
to the subject A war is being waged against
their most material and vital domestic in
terests. and we desire that they shall know it,
aud repel it. There is not voter in the
State who is not directly and personally in-
.terested in the result. They have the power
10 avert the disastrous consequences OF an
humiliation of banks, and they must exert II,
or suffer the results.