Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1860-04-04

Warren paid more than received, 81, 1876
Thus you see that Warren county alone pays into
the treasury E$2, 1876 Of net revenue, while the
districts Of the Senator from Jackson and the Sena
tor from FenUress take out S5,705.4O more than
they pay in.
in fact M Speaker upon a more careful exam
nation of the report l find that Warren county
pays more net revenue into the Treasury than all
of that banking district besides. Now you can see
that the Senator made an unfortunate step when he
referred the COmptrollers report but since he has
got his foot in it, he cannot escape from the over
whelming consequences of the facts brOughtto light
by his own witness
And as we have seen the condition Of the country
surrounding McMinnvile ard Sparta, as shown by
the COmptrolers report let US look to the compal-
alive condition of the two places. Sparta contains
a population Of 400 or 500, McMinnville between
1000 and 2000 and tia commercial Importance of
the two places is as one to ten. have never seen
Sparta myself, but am told that it is going down
hill retrOgradng it looks as if the bighting
wing of time had shaken the dust Of ages upon all
that surrounds lthat it stands there IN It's mourn
full dilapidatiOn, a silent monument of its own
mastery inactivity" A nice place for a Lankl
But It's different with McMinnvle; you approach
that place from the direction Of Sparta you i'm
pressed with the loneliness and magnfcence of the
scenery which surrounds it-iust far enough in the
distance to lend enchantment to the view YOU see
the Cumberland Mountains, reaching out their arms
in a semi-circle as if to embrace the lovely place.
And on the emnences in the immediate vicinity Of
the LOWu you usCONtE uef peFOuSan repuLdDle
institutions of learning, while within are her mag
nifcent churches raising their tall spires towards
the heavens And ever and anOn amid the busy
hum of her streets is heard the shrill whistle and
stirring snort of the iron horse And with herhigh
schools and colleges, her watering places and man
ufacturng establishments her intelligent and ener-
getic merchants and traders, all giving energy and
impetus to the trade and commerce of the place. it
requires more banking facilities than any other
point in the mountain district, and would enable
horl
insist that the branch Of the State Bank Sparta
should be removed to McMinnve.
But the Senator from Jackson contends that the
removal would be attended with an immense
amount Of cost and expense lie is certainly mis-
! taken. The bill not only provides that McMinn-
vile shall furnish a house for the bank until the
| property at Sparta be sold, and the proceeds
! applied to the building Of a one, but McMinn-
vile agrees to make up the deficiency, if any, hold
ing the State harmless from any cost and the Sena-
! tor may add such amendment to the bill if he
desire. Therefore, that objection cannot be urged
/ against the passage of this bill.
! But, what if it did cost something to remove it
/ TO place where it would be enabled to make
/ larger profits would that be any more impOtic
/ than to retain 1t where 1t Is, at cost of about
| $4,000 per annum. No. sir; | think it would be
! economy upon the part of the State to remove it.
! let the cost be what it might.
! But the Senator from Jackson argues that his
! district and all of that up-COuntIy will soon be
]
terly inactivity by the snort of the Southwest
crn Iron Horse, and that then n bank would do well
! there. know there are many clever people there
/ and all they need TO place that section upon an
equality with other more favored portions Of the
State, is the construction of that Southwestern
road and if they do not build it after the aid and
! privileges which have been granted by this and
/ preceding Legislatures, the bank should be taken
! from them.
The construction Of that road is not only of great
Importance to the people of the Mountain District,
but to the entire State. 1t would increase the com
merce as that section, and enable the Sparta Bank
to make as large profits Of the other branch banks,
and develop the latent resources Of the surround
ing counties, and enable them to pay into the Treas
ury as much revenue as they take Out-enable them
TO become an advantage instead of a drawback to
the prosperity Of the State. And if the Senator and
and his people will 90 10 work in earnest and build
that road, will no. object to the remaining where
it is. But if they continue carelessly inactive as
heretofore trust the people throughout the State
may, hereafter, rise up and demand Of their re-
representatives., the removal of an institution which
! Is nothing more than a vampire upon the Treas
ury and cOrrOding moth to the prosperity Of
the State.
And the Senator makes the declaration that am
opposed to all banks, and that have voted against
every thing in the shape of a bank since /
have been here; and then asks the question, why
should l desire bank among my constituents. The
Senator's memory must be very much at fault not
to recOllect that have uniformly voted, the
cord will show, for every bank OF deposit and ex-
change which has applied for a charter.
But will say for the benefit of the Senator from
Jackson, that l do not believe that banks of issue
have the power of working such wonderful results
upon the industry and prosperity Of the State, that
many individuals not acquainted with the true ma
ture and operations of such Institutions, attribute
to them. And shall further state that [ shall raise
objection to the action of this Legislature. char
tering whole swarm of new banks and re-Charter-
ing old ones I am rather inclined to be satisfied
than otherwise. 1t will have 4 tendency convince
portion of the people, of Il fact, which sound and
logical reason had failed to impress upon their
minds; that Is, that banks Of issue add nothing to
the actual wealth Of a community, and cannot
make times easy as many profess to believe.
The present year will be one to be rendered for
its % hard times And every year will be the same
when we have no surplus products to dispose Of
We are now importing and paying out money for
large amount of products we usually export
Therefore this must of necessity be year noted TO
some extent for pressure in the monetary affairs
of the State. And if these banks had not been
chartered, we would have been held responsible
for the hard times Therefore, am inclined to
be satisfied with what has been done upon that sub
jeCt. But if any Of these banks should 90 the way
that mary Of their predecessors have gone, the
holders Of their notes. cannot shake their worthless
spotted rags at me and say that | Z" did it
And now will say to the Senator from jackson,
that one particular reason, why the bank should be
removed from Sparta to M'Nlinnvile, IS that the
interest of the State demands it. That bank is cost
ing the State about $4,000 per annum as has been
before shown, and should be removed to MMnnville,
more commercial point where it would cease to
bea charge upon the Treasury, it IS now.
Such Mr. Speaker, are, briefly, the facts and fig
ures which have brought my mind to the conclusion
that the Sparta Branch Bank, should be removed to
MMmnve. And let the result Of your action upon
this bill, be whatever it may, shall be content hav
ing discharged my duty to my constituents and to
the State.