The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1859-07-08

crOcy 10 maintain n conslstent posinon ON
my QUESTION Of State OF national policy.
Their procIivity to depart from their own
teachings is as astonishing rs it IS ridicu-
lous. II Is happily illustrated IN the at
titudc the party has held towards the
State bank. It was favoiite recommen-
datiotl Of Gov. johnson that that institu-
ton should be wound up at the earliest
moment lie was re-eiected
with these opinions wcll-known. Gov.
Harris also took substantially, the same
view, and 50, we believe, did large pro
portion 'ofthe leaders Of the parity Now,
however, TO break the force oftheir radi-
cal hardinoney theory, which it has been
ascertained does not set well upon the
stomachs of the people they propose to
continue that Bank till its charter OK
pires, some nine or ten years. We desire
to submita few choice extracts from the
files Of the Union and American to show
how that institution stands in its estima-
ton, and to disclose the enormty of per-
petuating an institution which, in its
opinion, is the most hideous monster of
them all:
"lVith not one green spot to eshaen tie drcny
,caste Qf Encouragement and perpetual Jhndci-
ing which has characterised is Wh0le eriacHcc,
we are, nevertheless, invited to trpyel yet
little farther on the road ofAeeming
desolation, and soon we shall behold fields
and landscapes of never ending verdure.
LETT fttx. 10 ha
syren song For ourselves, we should
prefer, while it is not yet too late, to re-
trace our steps"
This wholesale denunciation of mis-
management and laundering was follow
ed up by temperate estimate Of the loss
likely to accrue to the public from its
continuance;
GLOW much of the four and half mil
lions now under discount, a largo portion
I of which the different branches have been
carrying by renewals for years, will be
! finally lost, we can form no approximate
| guess. How much more by frauds, dcfa'cd-
fions and stealages which may lie concealed
in the breasts of the guilty perpetrators,
and never see the light except under the
| general head of profit and loss, nothing
but the winding up of the whole concern
will ever reveal Were we sole arbiter in
the case, re ,c0uld however, most gladly
compromise on lie loss Of million Of dollars.
That Il WW be much GREATER ,chon The final
day Of reckoning comes zee entertain not a sol-
tpy douJt and II tie existence qfHe bank be
continued tgo gears longer without the most
searching investigations preparatory to its
final dissolution, we shall consider our
selves fortunate il tie hqD Of is original capi-
tai be sared from the general rrcck no,0 iB,-
pending Deer H."
Subsequently the Union and American
uttered the following in reference to the
organization and fate of the Bank. The
italics are its own:
San institution, then. like the Bank OF
Tennessee must, from the very nature OF
its organization, be always exposed to the
doWble danger Of being sacrificed as ,eeH 10 tho
better as to The oOrsG. feelings Of our nature. It's
fate is iHegiable. Al The influences lohich sur
rounds Il tends to mecitaJie destruction. There
is not one solitary conservative feature IN is ohole
0rydo,ization."
Next we find the central organ of the
democratic party, demanding that the
Bank shall be wound up, in the following
mandatory terms;
"What has been may be again. The
present disaster was not the fault of this
Legislature. TIE Hc1t ,cW be, Il Hey fail 4
drdit themselves Of Tie ddjH0hiG0nS tcrpericHcc
T. There is but one remedy. The path o.
duty lies plain before us. If we fail tC
walk in it, the question icW Hca 90 Jct0re N,
i ~ Ill a.
be wound up? Shall an end be made
? Cf all connection Jetieeea the State a,,d {
taihleSs, inefficient and dem0raii=il,g corpora
ton. y II Is Je3ond any earthly oo,o
ref necessary Supervision, Investigation or nc
generation 1t is the olispringof immatur,
legislation. il came forth into the world
J consttgtoHally diseased, and disfgpedH u, eUci7
member. Il monster By birth, IL has groom oni
: Tie more hicicouS by contemplating its owl
Unborn deiormity. No Legislative doctorj,,,
eas, eyer cus il. Public opinion
; demands, however that the counsels o
experience shall be obeyed-.that thi
bank shall not stand in the way of TIA,
: reform so much needed in our banlin,
system-that is dpJS shall be numbered T
has been weighed in the balance anC
found wanting."t
The Legislature did fail to walk in 9Th,
, path of duty" as thus laid down, bu
: where isthe grand inquest of the PEG
pie" which was held IN te,rore1, over tn,
heads of the members of the Genera
Assembly, to drive them into the mea
: sure? That "iaithless, inefficient and de
moralizing corporation that "monste
by birth" which had been weighed il
! the balance and found wanting" "stil
+ lives" TO mock and scorn the very mel
who We're so loud and bitter in its de
nunciation. 1t was threatened then, tina
if steps were nottaken by the last Legs
lature to wind up the State Baul, il SHOULD
= be made an issue in the present canvass
upon which the election of members 4
a the next General Assembly should, il
, part Al least, turn. This course of tia
q Union and American was, no doubt,
4 part of its then declared programme I,
, war to the death and extinguishment
upon all banking institutions in tn
,, State. Itwas perceived that the Legis
: lature could not, with justice, strike
{ death blow to all other banks, and -stil
, maintain an institution of her own
/ Hence the first appropriate step was t.
{ strike down tho State Bank. This
: sufficiently evident from the following
the italics being the U.ion's own;
"We believe that the presertis tie mos
. pfopitious moment for inapgurating tina
: great system Of cNfrepcY reform, whicl
shall have for IL ultinnse iim and end
the complete aud uttlr demoifol, root an,
{ branch, of our present BANKING syston1