Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1861-01-22
COMMUNICATIONS.
Keller.


In consequence of material typographical error
making the Presidents of the Banks say the
of what they wrote, we republish the following ar
ticle from our daily issue of Friday morning in a
| correct form.--EnEToRs UNION AND AMERICAN -
Mr.. RuRou: Do you know what reply the Banks
made TO speaker Newmans inquiry to their abil-
| ity and willingness to Relieve the people by dis
counts, provided the Restrictions were removed
| and suspended for Is months? tsslis
1t srikeslme that this direct dcUe sort of relief is
by far the best of all others. 1t would supply the
pressing monetary necessities until another Wheat
crop could be harvested and sold-untll the present
Tobacco crop could be turned into money-and in
deed, until another Corn crop could be raised and
turned into Hogs, Mules, DE-, and brought to our
general relief Meantime, such system economy
would be practiced, and such caution observed in
making new debts that the crops alluded to would
enable US to return the borrowed money TO the
Banks, and the whole monetary difficulty find sat
isfactory solution. But, on the other hand if the
Legislature resorts to Stop Laws or 'protraated
Stay Laws, the Bank facilities are out of the ques-
| ton. Besides, the People become demOralized,
through the agency Of those who of all men oueht
to teach them that prUats reputation is as ust and
as subuTsiUe Of genGrdl good as STATE sepuliaton
In reply to the above we add the following:
Report from tie Bank Of 7srnssssea Planters AID
Union Bank Of Tennessee, IN Tgsrsncs to certain
Inquiries from ste SenGe noao in session
Hon. Taz W. NEwxA,s, Speaker ofthe Senate:
We respectfully acknowledge the receipt Of a
copy ora resolution adopted by yeur honorable
body the 10th instant addressed to the Planters
Bank OF Tennessee, the Union Bank Of Tennessee,
and the State Bank of Tennessee, making the in
CURRY as to the amount of Accommodations said
Banks could furnish the people of Tennessee if the
restrictions were suspended for twelve months
which now apply under law to said Banks; also the
amount they could loan on bills and the amount on
notes. the time they could afford to discount on, and
also the amount of calls renewals for the twelve
months. aitiEt.t 49, -
In reply to this resolution we baYe the honor to
say that the amount Of Accommodations the Banks
eoald furnish to pe0ple is so entirely dependent
upon surrounding circumstances that we feel at a
great loss in stating any particular sum; that the
Ranks 1.-THE restrictions alluded TO in your resolu-
items being remOvedl could furnish the accommola-
ton necessary to be used in the movements of the
industrial producs and the enterprises Of the State
we hare no doubt What that sum would be it il
impossible to say, aor does it matter particularly
with oar view Of the subject, to FIX any exact sum
The demands upon the Banks being commensurate
with the wants Of the community the extent Of this
want would be the measure Of the Accommodation,
Whenever there is anything to predicate business
upon it is always to the interest Of mcnied instt
tons to extend their discounts And tI,us based
upon real operations aad solvent secuPities II il
right in policy and just TO the pecple that the time
of discounts should run with the wants Of the conn
try. Calls should be made with a Just regard to
the interestsof the Banks and their customers I'M
der some circumstances call Of ten per cent would
be oppressive to ere set Of customers, when pay
ment IN full would be easily met BY another. OF
sqaAd discretion Of tie sflcers Of the Banks. The