Nashville patriot. [volume] (Nashville, Tenn.) 1858-1860, 1859-05-20
STATE EXECUTIVE COMMITTEE
FRIDAY, MAY 20, 1859.
Union and Planters Hanks.

ssThe opposition of the Democratic party to
the re-charter Of the Union and Planters
Banks is bitterly complained of by the friends
and admirers of these institutions. Though
this was by no means unexpected there is no
reason that we are aware OF, why 1t should
be so. These banks were established more
than a quart er of century ago The char
tiers given them were liberal in the extreme,
and allowed to cover a period of thirty years.
That period has nearly expired and they are
asking for a renewal of their privileges. The
DEMOCRATIC PARTY, looking TO the interest Of the
State DECLINES TO FAVOR THEIR REQUEST. IL
says to them you have already twice openly
violated your charters by refusing, for months
at Il time. to pay your honest debts; you have
set The laws of the State at defiance, and are
even now treating with contempt the sover-
eign power to whom You owe your existence,
and YOU need not expect that we will again
place the great moneyed interests OF Tennes-
see at your mercy and under your control.
Your capital is owned, for the most part, by
men living beyond the limits of our State
men who as a general thing, have no feelings,
no sympathies, and no Interests In common
with ours-who are opposed TO our instltu-
tious and are ready at any and all times to
wage war upon us and our constitutional
rights. We do not think ii just to ourselves,
nor consistent with the interests and safety OF
our State, To re-grant the chartered privileges
which YOU have so long enjoyed and so often
violated: and now. three years in advance Of
the expiration of the bargain we made with
You. we give you notice that ire do not intend
10 renesD that bargain.
Isn,t this honest, fair and candid? Have
either the banks or their friends any right to
COMPLAIN? HASN'T the State faithfully stood
by her bargain, and, having done SO, hasn't
she n right IA perfect right, when that bargain
ends TO decline to renew it? Most assuredly
she has and most assuredly the Democratic
party has just ~ good right to insist that
She shall do so; and this it will do, despite
the complaints. the threats and dlreful prog
nostications of the banks and their admiring
friends. 1t has resolved 10 put an end TO the
corrupt, rotten and swlndlng banking sys-
TEN of Tennessee, and, as one of the first
steps toward the accomplishment Of its object
the Union aud Planters banks, being among
the Oldest and worst sinners, MUST GO BY THE
BOARD. LET THEM PREPARE To DIE THE
DEATH"
The above is spoken by the Memphis ArdL
anche, and is fairly, squarely, and bravely
spoken. 1t speaks for the Democratic party
and as far as it goes, presents the issue plain
ly 1t ought TO have gone further and said
''inasmuch as we consider the Union anc
Planters Banks as good and safe as any we
think can be devised, we oppose the whole
theory and system o: banking, and will no
consent to charter any new banks. We ar,
for an exclusively gold and silver currency
If the Avalanche had so continued. its article
would have covered the whole question
Though it did not say so in this instance, w
are sure these are its convictions and princi
pies Now we ask. how many of the peopl
of Tennessee are willing to see half the cir
culatiDg medium of the State withdrawn, ant
every branch of business corresponding,
contracted and embarrassed? Who desires Il
pay his debts with the scale of circulation re
duced to one half of what it was when the,
were contracted Let all such vote for HAIR
RIs and the Democratic candidates for tn
Legislature.
The Audlancie seems to think tn at the stool
of these banks is owned, for the most part b.
men who, as general thing, are opposed t.
our institutions, and are ready at all times t
wage war upon us and our constitutions
rights. We wonder if it had Mr.. BUCHANA!
in its minds eye, who has SIC, 900 of stool
in the Planters Bank, and draws his interes
regularly?