Daily Nashville patriot. [volume] (Nashville, Tenn.) 1860-1862, 1860-11-26
Our Money troubles.

The people of Tennessee have financial as
we'll as political troubles to contend with
just at this time
1t matters not whether our commercial
endorsements are attributable to our poilt-
icaI troubles, or whether they spring from
causes traceable to other sources, we are salts
fed that shaId times" are upon Us and none
of US can see the end. Property has already
greatly deprecated in value, business of all
kinds is dull; and the greatest difficulty Is
expcriancee in the collection of debts. So far
as we can learn, our banks are brought
to a stand-slill, and in all human probability,
great sacrifices and distress await all classes
of our people Many are asking, what shall
be done2 We do not propose to at
tempt TO answer that question this morning:
but content with printing the following ac-
ton of one of she leading Banks in Rich
mond. Va. and the reception Of the same by
the merchants of that city. II is already
known that most of the Virginia Banks have
followed the example of the Farmers Bank
~Ata meeting of the President and Diree-
TORS of the Farmers Bank OF Virginia, this
9Otb day of November. 1S60-Pres. Mt, VIM
IT. NacfaFIaud President: VIM : Allen
JOseDb r. Anderson J. J. WaggnneT, Samu-
eI g. Robinson. james Dunlop ThcOdOTick
Robertson, John Z WadswOrih and R-cd'd
o. HaskiHs-
Resided. taGlsinaosL,ly, That 10 view of he
dfstrust which prvaiIs. Of the suspension #
the large money trade with the South, usual
at this season. ard of the pr sSure Of he law
reauiriug the Banks of this city to redeem
the circulation Of their Branches law
which bears with special severity on thu
bank. because of the large numb-r of her
branches-sPeeie payment be for the present
suspended; and that a course OF policy De-
pursued which will prepare for an early re-
demptiOu. IA SMITH, Cashier"
A large meeting of the merchants OF Rich
uIofld was held the same evening aite- short
notice. al tine Office of the Virginia Lie In
surance Company. to take Into cCnsId- TajIUn
the preSeut condition Of financial affairs
Horace l.. Kent presided, and the acIlon OF
the Farmers Bank was fully sustained as
will be seen by the following resolutions,
which were unanimously adopted
'.Rss0Iusd As the sense OF this meeting:
1. Tnat in view Of the unprecedented pO-
litical condition Of the country Oi the pre-
sent widespread aRd Increasing financial
stringency, and Of the strong prospect of still
greater difficulties. it Is the dictate Of WIS
dom and prudence that the Banks OF this
Commonwealth suspend specie payment. in
time To diminish or avert, as lar as may BE-
done the existing and anticipated evils con
seguent upon this state of things
2 That IN order that such suspension OF
specie payment shall result in any material
relief aud benefit to the people, 1t should
continue long enough to allow the Banks 10
discount to an extent in some measure ade
quaIe TO the great demand for commercial,
agricultural and general business accommo
datIOn.
5. That the suspension Of specie payment
this day made by the Farmers Bauk Of Viz
ginia manifvsts, on the part OF its President
and Directors, a prompt and intelligent op-
probation OF the present emergency, and de-
serves the commendatiOn OF this community"