The Nashville daily union. [volume] (Nashville, Tenn.) 1862-1866, 1865-12-07

M without additional ideas, with few ercsp
p tons, snd where new idess are expresss.
,e they are wrong 10 principle, or poiiev.-o
A. both These are small matters, Mr. Speak
- er, bat did not commence the war ia Ties
things. Ne Sir, not /. offered q re olu
e toa alter the vote OF the House, declarin,
/ the lneiligibility of c. s. Cameron, the uur
It port Of which IS, that c. s. Cameron is no
. entitled 70 q seat on the door of this Houa
By reason Of ineligiblity. They reported d
It the 6azette-nan that my resolution read IN
y eliglole BY reason Of inellgihility, and up
e on lhis lalse report, that editor continues {,
r. perPetrate puns til this day, the wittiest b
p which is that, e any one should affirm thai
2 the member from Montgomery was ugly on
& reason Of ugliness, no one would dispute ii
But, SIP, am told never saw hiu-thal
this witty punster cant begin 70 compare
r. with me IN beaatyithat be is the embodiment
8 Of all ugliness. That be is long, lauk. lean,
e sallow and laniern-jawed. I have heard
I sonsthing about his arrest for disioyalty
[ being hued $500, and put in prison. Bat
{ being TOO Poor 70 pay che fine, and TOO in
Z significant TO be feared, Gen. Thomas re-
mit'ed the tne and released him nom prs
/ on, renarksng, i'if such . man could iluuro
| the Government it was not worth preserv
T ing" But, sir, molten was made 70 re-
{ consider my resolution, and an attempt 20
defeat It was made, because d was too in
explicit. The gentleman from Marshall
quoted the resolution Suh, the gentleman
from Marshall argued that the resolution
was al wrong, because it did not dec are
che seat Of the Ineligible gentleman from
Shelby vacant, and tell Gov. Brownlow
what to do. The gentleman was learned in
parliamentary forms and parliamentary
law and this resolution violated both.
AID now sir, as one Of the Judicia
~ Committee who voted for reporting
this bill in lieu, hold ham to
3 just accountability for its lauguage and its
policy. But enough Of this. ! simply cite
samples at random. The verbosity, prolix-
ity and inaccuracy Of the bin in heu is a
Just ground Of opposition 70 10. The whole
bill affords a rich field for verbal criticiim,
but it is hardly worth cultivatiug Turn
We now 10 the provisions Of the two bills.
| Mr.. Speaker, ] have already remarked
/ that both bills provide for winding up the
| Bank, and that ia this respect they are iden-
/ teal, with the exception Of e wonderful ex-
pension Of the bill offered in lieu. The
/ original bill consists Of n sections, msking
in all tEO pages Of iools-eap. The bill Of
| fered in lieu consists Of l6 sections, expand
ed to Ave and quarter pages Of foois-cap.
The obiectional policy Of this bin in lieu is
mostly contained in the i've adiitial sec
tons.
But, sir, I wish, in the first place, to call
the attention Of the House 70 the ID c.ion in
both bills, The orignal bill authorizes and
requires the Governor 70 nominate 70 the
Senate, who, when confirmed by that body
shall be empowered 10 take charge Of said
Bank and all its assets, property, books and
papers Of every description, wherever stu
ated. The bill in lieu provides for the elec-
ton Of said cOmmisfiouers bya Joint vote Of
the General Assembly. The one gives the
appointing power 10 the Governor; the
other, 10 General Assembly. The Governor
was clothed with power by the charter to
appoint the directors, By aud with the adj
wee and consent Of the Senate. Why not
clothe him with power 10 appoint the com
missioners? Why this difference IN the /
mode Of appointment IL has been argued
thai this election scheme was devised simply |
10 reflect on the Governor. I do not think /
60. IL has deeper significance than that |
The only way 10 discover its import is to |
examine the policy which this bill proposes |
to inaugurGte and carry into effect, with re-
gard 10 the Bank. And what is it, let me
ask
This policy is developed in sections A, rs. |
and "A Of the Ball IN lieu.
The original bill, sec. 4, makes il "the |
duty Of said commissioners % proceed 20 |
collect the debts due said Bank, without de- |
aNuN
OF the Bank, issued before the sixth (6ih)
Of MAY, 1851" This provision Is equitable /
and right. The Bank is legally bound 10 /
take its genuine issues in payment Of debts |
due Il. This / understand % be the law.
Bot the bill in lieu provides In addition that |
these commissioners " may receive IN such /
payment gold and silver. or United States /
Treasury notes, and for tbs purpose, they |
are authorized aud empowered 70 employ /
such attorney OF attorneys as they may /
deem necessary" This provision foreshad- |
owed the policy Of this bill in lieu Il IS /
the first step in an effort 70 make the worth /
less issues Of this utterly bankrupt aud cor /
rupt corporation equivaleut il value 10 the |
currency OF the United States. II this pro- /
vision means anything, it c0nfers the power /
and authority TO c0ercS payment in gold aud /
silver. or Treasury Notes. They may deny i
this, and the language, confess, is OBSCURE; /
but, sir, the authority and power 10 coorce |
is ghe logical and grammatical import Of that |
language. The commissioner "may receive |
gold and silver or Treasury notes 10 such !
payment, aud for this purpose may employ !
such attorneys as they may deem necessa-
~" Il would be proper 10 employ counsel
10 eHforee payment in the legal issues Of the |
Bank, and that is just what the original pro- |
vides for.
The Commissioners may receive iu pay |
ment Of debts due this Bank the issues OF /
the same prior 10 the 6th Of Nav, 1861, or in /
gold and silver, Or in U. S. Treasury notes, /
as the debtor may elect Let US see. 90 /
Saturday last She notes Of the Bank were Il
quoted at - cents on The dollar. Cold IS |
worth a premium Of 80 per cent. Al these
kgures, one dollar in Treasury notes is
equivalent to tive and a fraction IN Bank Of /
Tennessee notes. One dollar in gold Is i
equivalent 10 s. 20 in the notes OF the Bank
hat viii the debtors pay in, if left option
al with them Will they pay IN gold and |
silver or O. s. Treasury notes Never. air; /
you might Just as we'll expect water 70 run /
up hill, or ire 10 CONCEAL it, or any other /
freak Of nature in direct violation Of those
harmonious, universal, and invariablo laws
which she had established in aud over all /
her dominions. Why, then. pass a law 10
give debtors such option No, sir, the au-
thors Of this bill in lieu had a widely differ /
ent purpose in view. As / said, i is the /
first step in the policy they propose to in
auguraie with regard 20 the Bank Ut Tennes-
see, policy which in my Judgment would
be ruinous in ever aipect They want % /
make these worthless notes good and .hev |
say they do this for the benefit and relief Of |
the people. About this ] shall have come
thing 10 say before I am done. ask the 4
House 70 mark this feature Of the bill M lieu.
now call the attention Of Them 70 section
l3 Of the bill in lieu:
"Sec. rs. Be q further enacted, That in /
ail sales or leases Of the property Of said /
Bank, as hereinafter provided IN this act. it
shall be lawful for said Commissioners 10 /
sell or lease the same for the issues Of said Il
Bank Of Tennessee issued before the 6th day /
Of May, 1851"
This is step No. ?. The debts due the
Bank may be collected IN gold aud silver.
OF Treasury notes; and f0r This purpose at
torneys may be employed But ia ~ sales
or leases Of the property of the Bank il i
lawful for the Commissioners 20 receive pay
msrt for the same in the legitimate issues
Of the Bank. Comment is unnece1sary. IL
is said that "sink IS as good as q nod 70 q
blind horse, and that "a word 70 The wise
Is suficent."
We come now 70 ths I4th section or this
bin. I will read IL:
"sec. "a. BE Il further enacted, THAT, AZ a
means Of closing up the afaifs Of said
Bank and BfaEshes a. soon % possible, and
relieving the note-holderr Of said Bank. IL
shall be lawful for al TAX collectors Of this
state to receive in payment Of State tax on
III sums over one dollar, one half Of each
AK payers taN'-I quote the language Of
he Bal. "For God sake, AR. Speaker,
axe il not from mine''-in the notes or i8-
mes Of said Bank Or Branches which issued
prior 10 she 9Th day Of Nay, 1861.
This, Afr. Speaker. il step No. 3, aud the
'ap Of he climax We now see the fun de-
rel0pment Of The gentlemen 3 policy. which
8 70 relievethe nots-holders, and tbs Il 10 be
.Iseted BY making Tennessee Bauk notes Il
pod Is United States Treasury notss. III
ny view, this IL strsngs poHcv for
tstessnan 70 advocate, and stranger all Ia
.Tgue that such policy villa bring relief Il
he people. know, ear. that the REQ Die are
mear2ascd ami hardened. Would ~ Goa
hat could a1ord them relief know
hat many who have been rich, will be
iOor- know that the wealth Of Tenues
ee has been wasted and destroyed bv The
errlule conVnlsion through which We have ]
'sssed. know thai the State d iil debi
nd that her citizens must pay their public |
4 vel ne private liabilities, and tbs they |
an ana win de- But, ear. It viii never Be-
lone By resuscitatiHg thelold rotten and cor
upt Bank Of Tennessee.
Le; % lock e this Tor moment. 1fyou I
~ one-half 81 the pEblic tax IN ths notes :
6 thc hank q Tennessee. sou must 70
reese The rate 81 tax 70 that extent lcu
aust provide the meana 70 pay ne 20 .erast !,
n The public debt. and 30 keep the wheels
bqFernuent In mofioa. Lhere 70 20 re-
ei IN thu aspect. n you Determine O. re- !
een he leQitimaie issues Of this usuk- y
I'D tHafr nam L. farinu-rnII fnurt TAX The I II