Daily union and American. [volume] (Nashville, Tenn.) 1865-1866, 1866-05-15
THE BANK OF TENNESSEE.


harmony with every other department Of |
the Government Il followed the fortunes |
of the State as then organized, and when the
war ended those in charge Of it stood ready
to return it to its proper place under the
new condition of affairs established, re-
quitting from the revolution. Instead of re-
ce;ving it in that manner, recognizing Its
officers As its proper custodians and holding
them responsible for its proper administra-
ton, it was violently seized by, and went
into the possession Of the military, by order
of Governor Brownlow; thus placing it in
hands irresponsible, by reason Of their unof
fetal character in relation to the Bank, and
relieving parties that were responsible, by
reason of their legal and official relation to
the institution. Furthermore, after reaching
the hands Of the Governor instead of await
ing the action Of the Legislature to provide
proper cIstodians and determine The future
policy Of its administration or liquidation,
he took the liberty. in conjunction with his
Secretary Of State, Of looking into its assets
and Of converting into bonds the greater part
if not all its specie.
But, as unwise and unwarranted as has
been the action of the Governor, that Of the
Legislature has been not less so. Instead of
providing for an honest administration of the
affairs Of the Bank by looking TO the bess
settlement that could be made of its notes in
the hands Of the people, and preserving as
far as possible the faith and honor of the
State Government toward its own people,
they have labored systematically to depre-
ciate the notes Of the Bank, and, if possible,
render them wholly valueless. To this end
they have openly repudiated all its issue
since the 4th of May, 1861, while for that
that was issued prior TO the war, they have
made no provision out Of its assets, which
they have otherwise appropriated, content
ing themselves simply with receiving it from
those who may happen to owe the Bank.
BY the card of Mr.. Watson, the present
President, to be found in our advertising
columns, il will be seen that under the 9TH
section Of the act Of the Legislature it is
made his duty 10 require all persons 10 refund
md return, uithm thirty days. to The Bank Of
Tennessee, at Nashrilie all money or funds paid
omJy the Bank, or any Of its branches for services
rendered as officers thereof after The 4h Of Muy,
1861, or for services, cira or military, rendered
in aid Of The rebellion, or for property Of any
kind, or on contract for articles Of any kind fur
nished for the benefit Of the rebel authorities Of
The State Of Tennessee, or the so-called Colted-
eracy, or on any other illegal contract or pur-
pose
So broad farce is in admirable keep
ing with the general action Of this Legisla-
ture. If this Board of Directors shall I'M
dertake to enforce through the courts what
they have thus ordered under the act they
must first commence by organizing new
courts, as there are not half enough to do
the business. We think it would be safe to
say that fifty thousand lawsuits will not an
swer their purpose. Arnell would have TO
pay back all the money obtained upon his
leaiherand his shoe contracts. Senter would
have to refund all he received as a member
of the rebel Legislature of 1862 Lieut..
Shane would be called upon to account for
the little he received for the brief and in
glorious term he served in the army of the
rebellion, and so on through long list of
similar characters.
But let MS look seriously at the question. |
Here is an attempt TO fasten responsibility |
and fix a loss, not simply upon the officers |
of the State, but upon the indiscriminate
public at large-whoever received from the |
officers Of Goyernment-frOm the only civil /
and military authorities then over them
any compensation for goods taken or fur
nished or for services rendered, having any
connection with the civil war then existing.
The mechanic and the farmer, who for his
labor or his produce, got pay through the
Bank Of Tennessee though it may have
been in what they now repudiate as "new
issue on Confederate notes-is required TO
refund the sum so obtained, As an unjust
and illegal compensation. The guardian
the widow and the orphan, receiving money
through the Bank Of Tennessee, in any Of
the ways indicated, are called upon TO ac-
count to the present authorities. And all
of this is demanded of the people, while at
the same time they are told that not even
the remaining assets of the bank shall be
applied to the redemption Of its notes, or
that the notes shall SO much as be received in
payment Of taxes.
Stupid men, by accident and otherwise,
have sometimes risen to the bench, but to
suppose any judge in Tennessee fool or
knave enough to decide such legislation as
this to be law, would be an imputation upon,
and an insult to the Judiciary, Of which we
will not be guilty at present.