The Nashville daily union. [volume] (Nashville, Tenn.) 1862-1866, 1863-10-18
=. 0. 1ERoEIs. Editor.
redemption OF tho Notes of the
Bank OF Tennessee.


rebel Legislature of 1861, in support of
its attack on the recent revenue order of
Governor johnson, demolished its case
in the estimation Of loyal people, who
reject the bogus laws Of Harris ard his
council. II finds that citizens of the
United States do not feel disposed to
comply with the laws enacted by traitors
claiming to belong TO the Southern Con-
federacy, and that Governor johnson will
be as little disposed to execute the laws
of Harris. az President Lincoln would
be 20 enforce those Of JEFF. Davis. After
digging very deep mine, and filing it
with all sorts of explosive matcrials, 1t
suddenly finds itself in the predicament
of the celebrated engineer who was
"hoisted by his own petard." Conse-
ouently it hGs "changed it's base" and
started another question, in regard to
Ole redemption Of tie issues Of the Bank Of
Tennessee; a matter wholly foreign and
irrelevant 10 the scope Of Governor john
sons revenue order, which il first attempt
cd TO discuss, and settled 20 its own sat
isfaction by the aid Of law passed by
the Legislature Of q foreign government.
II is idle to endeavor 10 excite the preju-
dice Of the people against the Military
Governor of Tennessee by broaching,
prematurely, the question of the redemp
ton Of the notes of the Bank of Tennes-
see, and to raise foolish clamor against
reputation, which never entered into the
mind of that officer, and which is not
contemplated in the revenue order. No
one has advocated the reputation Of
either State, Corporation or individual
debts in this State, that we have heard
OF, except the Legislature Of 1861, whose
acts are quoted as authoritative and OBJ
Iigatory by the Dispatch. That Legis-
lature did pass an infamous act of repu-
diation as we showed yesterday. Itaid
trample under its unhallowed foot, the
obligations and contracts of the State,
of Corporations, and of its citizens in
dividually.
If as is asserted by some, the faith and
credit of the State be pledged, in any
degree, for the partial, or the total re-
demption of the issues Of the Bank, by
any valid obligation, no one will favor
the discharge of that obligation, more
honestly, when it shall have been
duly ascertained, than Governor John
nsOn. He is wholly opposed to the
Republication of any just and consti-
tutional obligation, or 10 fastening
any reproach upon the honor of the State
This is . matter, however, which must be
settled hereafter. Its present discussion
is wholly premature, not raised by the
revenue order at all, and calculated &c
depreciate still further, the notes of the
Bank. And when we recall the fact tina
the Dispatch, in its first article assailinl
the revenue order, endeayored to fortify
it's position, By citing an act Of The rebs
Legislature Of 1861, s0zich frauaulently con-
veYted tie means of the Baak and dpreciat
edits issues, by the most fragrant violation
Of its charter, is there not strong reason
TO suspect that other motives than de
sire to save the credit, of the Bank, anC
provide means for the redemption Of iii
circulation, have prompted the attack o
the Dispatch upon n revenue order, mad,
absolutely necessary by the manifold
disastrous results entailed upon us by
the rebellion?
The Dispatch seems to be impressed
with the idea that Governor Johnson'I
authority is wholly of military charac'
ter, and that all the difficulties of which
il complains would be removed by I
civil Governor. Certainly the authority
Of the Military Governor is Of civi
nature also, and the clause of the Oonsti.
tuition which empowers the President t
secure to each State, republican form o
government, empowers him through hi
acts, to put in motion the civil machine.
~ Of the State.
Justice will indicate a mode of re-
demptiOn not very acceptable to SOM
who are demanding that the State shall
make good the deprecated notes of tn
Bank of Tennessee.
Sec. 16 of the Bank Charter says:
Be IL enacted, That IL any president
director, or cashier, shall embezzle o
fraudulently convert TO his or TO thei
own use, any sum of money, bank note
bill Of exchange, check, bond, or othe
security placed under his care and man
Agement, the person 80 offending, HI
AIDERS, ABETTORS, AND C0UN'
SELLORS, upon conviction thereof, shall
be Judged GUILTY OF FELONY, anS
be sentenced TO IMPRISONMENT IN
THE STATE PENITENTIARY for
term NOT LESS THAN THREE MOI
MORE THAN TWENTY ONE YEARS
the term to be fixed at the discretion O.
the Jury trying said offence, and shall
forever thereafter be disqualified frou
the State, AND SHALL MOREOVER
BE LIABLE FOR THE SUN EMBEZ
ZLED.
So reads the Bank Charter; lot ID
provisions be carried out to the very
letter What are the facts Of the Bank
history for two years pAstp It's rebel
lious officers and directors, aided, abet