Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1859-06-18
sATURDAT MORNING, JUNE Is, 1859.


The DsmOeratic Party and the Banks.
Col NETHERLASD and his organs, finding them
selves overwhelmed and routed on every other
question, are throwing new energy into their dis
oussions Of the Bank question, INDUCING the hope
that they can profit BY the known differences Of
opinion existing among Democrats on the subject Of
currency. We believe THAI they will find themselves
e. hopclesSly mistaken In this as In every thing
else.
One Of the chief merits Of the Democratic party
is 10 deal with all questions fairly and honestly
The suspensions, defslcatOns and filures Of Banks
in Tennessee within the last eighteen months has
been made the occasion, BY Democratic editors and
speakers, FOR thorough exposure Of The uns und
and dangerous system upon which they are based,
and lucid discussion Of the remedies necessary to
remove the evils to which people are thus ex-
posed and to secure for them 8 sound and uniform
currency throughout the State.
In the main, there was great unity Of sen imentin
the Democratic party on this subject All agreed
that the existing system was materially defective.
All agreed that it's chief defect was in too great de-
psrt1re from the specie basis and too great an in
dependence on the part of these corporations, of
reform should be fairly spilled not only to remedy
Is far possible prevent hardships, but to guard
against future abusts. The eztent 10 which these
reforms should be carried constituted the only
ground Of real difference between any reason able
proportion Of the Democratic party. Here there
Sers differences which, instead Of seeking to conceal,
we're freely exposed and discussed before the pub
ic With Democrats there is no cause for conceal
meut They are inimosl TO secret proceedings The
public is the proper tribunal to try s politics cues
items, in Whatever form they may srise, ard 10 that
tribunal Democrats always appeal, whether differing
or agreeing. There we're many who believed, our
selves among the cumberland we have seen no
reason to change our opinions on the question
that the only successful remedy would be an Viii
mats extinction Of the entire paper money system,
and return to gold and silver as our only cur
Fsnoy; while others believe that the measures of
reform should stop short Of that point guarding the
banks with various restrictions and making them
SnsnAble to the public, but still providing for q
mixed currency of paper and specie. Here acre
differences between Democrats; and differences
which In the heat Of discussion may have called
forth extreme and uugusrded expressions but they
we're not snoh differences that honest Democrats
might not agree among themselves upon & middle
policy, and adhere to it for the good of the country
without any sacri6cs Of individual opinion, or
AazSrding the success Of thei- party.
They therefore lRbored to that end and accom-
Plishsd it. Individuals may differ, but the Dems-
cratic party, as party, have agreed upon policy,
which it is the interest of the Opposition misrep
resent, but which the people eau have no difficulty
in understanding: THEY HAVE AGREED THAT TIE
PRESENT BAEKNG SYSTEM IN TENNESSEE Is MATE
RALLY DETRoTIyE-TBAT IT PLACES THE CURRENCY
Oh TIE STATE Too MUCH UNDER The CONTROL OF IR-
2EsPoEsIBLE CORPORATIONS; WHO, as ADMITTED BT
Col NE1HERLAED "t0iU not hesitate 10 commit qets
vGieh os indrvidsas they pOuld 6E4sh 10 justify AED
WRo REVER HESITATE TO FOLLOW THEIR own IN
TEREsTs, EowEvEE MUCH IT MIGHT CoSFLICT WITH
ZEE INTERESTS OF THe PUBLIc-1HAr IT KgIPs THE
PEOPLE, BOR WHOSE BENEFIT ALONE The POwE4 TO
CHATTER THEN Is ooAFEBRED CONSTANTLY EXPOSED
TO Tbs ARTS AND PRACTICES OF DIsHosE.T Nan
THAT IT ROLDs OUT OPPORTUNITIES FyR FRAUD AID
CORRUPTION, THE TENDENCY OF WHICH Is TO
DISCOURAGE HONEST CPITALIsTs AND ISvITE uS-
BCauPULoUs ADVENTURES ISTo TEE BUSINESS
AFreeiuE upon these and other things as evils
apparent In the present system Of Banking in
Tennessee, the Il ard Money Democrat and the
Paper Money Democrat farther agree, THAT II
Is THEIa DUTY TO coNME>CE AND CARRY on
THE WORK or BEFoRN UNTIL LIST vEs-
TIGE THE Evil SHALL HAVE BEEN REMOVED
ASp A SOUND AND UNIFORM CURRENCY stcURED-
7HAT TO THIS End TIE LAW PAssLD BY THE DLNo-
CRATIC VoTRs OF TIE LAST LEGISLATURE, AND WHICH
WAS OPPOSED BY TIE OPPOSITION WAS WISE AND
YHUDEKT-THAT THE ADD IoNAL REFORMS NOW Be
THG URGED BY Gov HARRIS ARE SAFE AND PRACTICAL
-TRusTIEa TO THESE THINGS TO SECURE THE EsD
II vIBw, Oh DEMONSTRATES THIS PROPERTY OF FAR
THER REFoRNs, WHICH IT Is THEIR DUTY 10 FOLLOW
Up UNTIL A FOUND CURRENCY SECURED, wHETH-
M IT STOPS SHORT OF, Or REACHES TO AN ENTIRE
ABoLlTIoN OF TBE PAPER MONTY SYSTEM.
The sentiment as thus defined will meet the sp-
prOvsl, We believe, Of every honest Democrat in
Tennessee, whatever may be his own peculiar no.
lions IS TO the point at which the work Of reform !
may ultimately STOP In 1t there is no trimming or
evasion Of the ISSUE sacrifice of principle on the
part of any one. 1t is the basis Of agreement be-
tween honest men who are anxious 10 accomplish
the same purpose, and who are working TO thst end
in the same direction, and who have only differed
IS To the distance they would have to travel in or
der to secure it.
These honest Democrats, go differing and SO
agreeing know that whatever evils have resulted to
the country from the present banking system are
ohsrgesble TO the OPPOSITION who have nsd control
Of the Legislature, with few exceptions and that
Whatever remedies are applied must necessarily
core from the Democratic puty.
whstever differences there may be between Dem
OCrstS on matters net in issue, touching this qus-
tiOs, there are none in ranks who ccncu9 with
Col NETHERLAND ana his party There are none
who stand opposed to the wholesome restrictions
passed BY the last Legislature, end which the Or
position struggled SO earnestly to defeat There
ere none who favor re-snacting charters like the
5niOn End PlsnterE' banks, granting TO Peansylva-