Nashville patriot. [volume] (Nashville, Tenn.) 1858-1860, 1859-05-27
FRIDAY, MAY q, 1859.
The Bank Issue.

The Democratic organs have attempted to
make much capital out of the questions con-
nected with the currency. We esteem these
issues. by great odds, the most important and
imm dattly vital that have been presented TO
the people of Tennessee. They were intro
duced by the leaders ofthe Democratic party:
We have heretofore argued the injurious ten
dency of the radical policy which Gov. HAIR
RIs aad the bulk of his coadjutors seek to In
augurate However craftily the purpose may
be concealed within the verbal interstices OF
their speeches and resolutions, its intent and
effect will be to PROSTATE the banks of the
State and bring that disaster to the trade,
comm rec aud general business of the State,
which we have demonstrated will be the un-
avoidable result of that movement. No prac-
teal commercial or business man or legislator,
be his politics what they may, who under
stands the laws of trade and the interests
which are promoted and sustained by a sound,
well-regul tied, properly restricted banking
system, doubts, for a moment, the ruinous i'm
policy of destroying the present sound banks
of the State, and refusing the establishment
of others. 1t is only the politician, driven by
necessity 10 seek some issue which he hopes
to render popular, by appeals to prejudice,
and abuse of what he calls " privileges " or
the closet dreamer, who, utterly ignorant of
the practical operation of measures. has con-
structed an impracticable theory, and with
the conceited opiniativeness which is usually
a prominent element in such characters, can
not be convinced ofits ruinous absurdity of a
specie currency.
We think it is mainly the first of these
classes of individuals, who have foisted this
question into Tennessee politics-and under
the impr sSion that it would be popular.
Selling upon the state of feeling prevalent in
tie community immediately after general
financial revulsion-such condition of mon
etary matters as tests the soundness of even
the soundest of money corporations and pri-
vate business cOpartner>hips with Invest
ments Of capital, and in which, all of evil
whether criminal and meditated, or innocent
and incidental, that can attach to the bank
ing system is likely to be exposed-they
hoped TO manufacture party capital by an
ind scriminate warfare against the whole sys-
TEN. Something was dem ndcd to retrieve
the waning fortunes of the party, and reckless
Oft interests to be jeoparded they have
desperately clutched ut this vital question.
Not quite confident of its popularity, how
ever, they have warily used it, and ingeni-
ously covered it within the folds of a studied
verbiage. They are playing an adroit game,
though if successful, their power will be used
to the detrment of the banking interests of
the State--interests in which every man,
whether rich or poor, and the poor equally
with the rich, are directly concerned in pro-
tecting. They have put forth enough of the
cloven hoof to test the question, OF its popu-
larity with the class which they expect to
move by it. and if their expectations are IT.
aliz, d, tuose who condemn this radical move
ment. and are persuading themselves that no
harm is mcditated, will be mistaken. The
managers of that party are too sagacious not
TO propitiate a sentiment which they believe
has ontributed to their success, and are too
Inscriptions to reckon the consequences of
such Precipitation. II the result of this cleo
ton should show, upon analysis, that the
mountain counties have been caught with the
cry against banks, let no well-informcd Dem
ocral think for moment that the banking
system is safe. The bridge that carried them
over once will be propped and made strong for
another crossing. The sentiment of hos
tility to banks, in their subsequent legis-
latiOn, will be- paid for the service il has done,
and that. too, at the expense of all the great
interests which are involved in the preserva-
ton of sound banking facilities.
1t should he evident to every man that no
reliance can be placed in the democratic par
ty, as at present led, on this question of all
set of politicians should presume to make use
of so delicate and difficult question, should
condemn tue party which lends its sanction
TO the luggng in 10 the arena OF INSCRIPTIONS
party contests, subject of such immedi-
ate practical moment to the personal welfare
and prosperity OF every citizen. We have
said this is question above mere party poll
tics, and should never have bcen introduced.
The responsibility rests with the d, mocratic
wire-pullcrs. II was no high regard for the
welfare of the people of the State that prompt
ed this party maneuvre. 1t was, In our esIi-
nation, what we have previously indicated Il
to be-a reckless experiment to Ssst the pop
ularity of question which they hoped might
sustain the crumbling party organization. In
such hands as these the currency and its in-
terests are not safe, and we call upon every
man ia The State, without reference To his poll
itics, ~ pause and reflect before be gives
vote IL hvor Of the democratic candidates,
which b. may bitterly rue TO the end OF his
days.