Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-11-23

ths Otate lhal portion OF the IltIHlildBe
property containing the tomb, of General
jackson and of the trustees Of the Herr
mitsge Church, asking that the land on
which the church stands be confirmed to
them for religions purposes.r Az
Among the bills introduced were the
following, which passed first reading and
we're referred ESQ. 49,.
MFR. Kerchival: A bill providing for
publishing the laws of the State and the
decisions Of the Supreme Court ia the
Stats Zisttfng for the benefit of the Ger
mans. @
Mr.. Doughty A bill to appropriate
$500, 900 for the construction of the Knox
vile and Kentucky railroad. as
THE BANK OF TENNESSEE.
Mr.. Doughty A bill to provide for the
redemption of the bono fde issues of the
Bank Of Tennessee, and for other purposes.
Mr.. Welsh moved to lay the bill upon
the table, but afterwards withdrew the
motion TO allow remarks onthe part of the
member who introduced the bill.
Mr. Doughty said that he was not pre-
pared to support the provisions of the bill,
bat he hoped it would be permitted to take
q committee. It was his intention TO ask
to have the bill referred to a special COM
mittee, and let it be thoroughly ingesti-
gated. 1t could do no harm. The bill had
been handed to him as chairman Of the
Committee on Banks, and he had thought it
but courteous that it should be presented
and have hearing. ..Es
Mr.. Bosom considered the question Of
great importance, and demanding i'm
mediate consideration. 1t was the opinion
Of some that by decision of the Supreme
Court the State might be held responsible
| for the issues of this bank. He hoped the
House would not lay the bill on the table,
| but would permit ii to be referred, and LEI
the subject be fully investigated.
The motion to lay on the table was re-
| newed and carried.
Mr.. Sparkman moved to reconsider the
| vote.
Mr. Speaker Richards called Mr.. Prosser
to theI chair, and addressed the House
He said that the question was one which
demanded the profound consideration o.
the House. IL not so considered, he
| believed that the State would find itself in
a condition from which it would be ifnpos
sible to extricate itself. He had heard
that the best legal minds in the State OF
| country had said that as sure as the Supreme
Court shall give decision on this ques'
| ton, it will be against the State, and il
this decision should be given next winter
after the Legislature has adjourned, in
what condition would the finances of the
State be found? The bonds of the State
would not be worth twenty-five cents on the
| dollar. He was not ready 10 say that he
could support this bill; he had not exam.
ined it, and did not fully understand its
provisions, but he wanted to gee it fully
| Investigated, and if it were Just and proper
he hoped it would be passed; otherwise,
he would go for its rejection. He came
| from a part Of the State which pays large
amount of the taxes of the State, and he
found that his constituency had supported
him in the advocacy of every measure
which looked to sustaining the good faith
and credit of the State. He was in favor
of giving the subject full and fair investi
| CATION, and IL the State was properly liable
for the redemption of the issues of thC
Bank of Tennessee, let her assume THU
| liability.
Mr.. Bean said that if the Bank of Ten
nessee was properly the progeny of the
State, even thought be vagabond turned
out of doors, the State viii find that al
last it must father it. Ii would be vair
10 hide our heads under a cabbage leaf
There was but one safe way, and that was
TO meet the question squarely and at once
He was not prepared TO give an opinion
on the subject, for he did not know much
about it, but he had heard enough to CON
| vince him that il was a subject that he
wanted to know ali about, and he hoped
the bill would go TO committee and be
| investigated. .#s
Mr.. Prosser spoke to the same effect.
Mr.. Hamilton had examined the oues-
ton carefully and in consultation with the
| Governor, and the bill was not the work
of a moment. 1t was the wish of the Gov
ernor TO have the subject investigated. In
his opinion and that of his legal advisers,
the Supreme Court would eventually de-
eide against the State. He feared an ex-
ira session Of the Legislature would be
necessary il the subject were not consid-
cred now. He wished il understood that
neither he nor any of his friends, as far as
be knew, had dollar of this money. He
was speaking only in what he considered
the interests of the State It was simply
a question whether the matter should be
investigated now, or the Legislature shonId
take the risk of financial embarrassment to
the State, and the necessity of an extra
session.
Mr.. Mynatt. Had voted for the reference
of the bill, not understanding fully its
merits, and feeling that an Investigation
should be had after hearing the question
discussed, he was more than ever satisfied
that the question should be investigated.
IL the State conld fairly be held for the
notes Of the Bank of Tennessee. it were
better that it should be known at once. 1t
was not best to run any risk of an extra
session to meet the consequence of n deci-
sion of the Supreme Court. He knew that
at one time At was considered that the faith
OF the State was pledged for the redeup-
ton OF those notes, and he knew the oase
of good loyal man who had received the
notes of this bank at a time when he conId
have taken greenbacks in their stead be-
lieving that the State had pledged herself
20 redeem them, and would do SO.
Mr.. Singletary was certain that unwise
legislation would work ruin TO the Stata
lie had listened attentively to the discus.
sion OF the question, and did not think
that any good reason had been given for
even considering the question. He thongbt
il was unfortunate that there should he snv
discussion showing that the bill had any
friends. The notes Of this bank were n
the hands of the banks and brokers of the
State, all OF whom are disloyal, and If by
any means the STATE were held responsible
the benefit would inure to those who had
plunged the State into war and ruin. He
thought the bill should be killed at once.
The motion to reconsider prevailed. ana
the bill was referred to the Committee -,
Banks. This action was afterw,,,a, "a "a
considered, and the bill referred = 80,
committee of the two houses " '0'"'
TEE INTFRES- ToAN
House joint resOlp..,oa I onthor;z;,r ,bs
SomPiroller, under the direct ;o,," - , me
S S9ye 600 to bOS',r sum not eTce S
s4yo'VOV, to 1s'si the interest on the S S,a,e
debt falling due January lst iSeS -
taken up. ' i0eo' was
Mr.. Posson made a stateuen. 70 The
House with regapd to the necessities Co..
treasury; The amount of interest dne ~ ~
~ nrSt Q! January next il about 5000 Cl00
4 he ability of 81 Ct..to - =