Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-07-18

ana the most tn0rOugn Investigator OF
the banks affairs by the Comptroller OF
the Treasury. TO the general public II
will seem an irreeoneilable enigma that
bank, standing so well, should thus be
injured in characterization without cause
and without such an investigation and
lapse OF time as might have prevented
so dire consequences to our COM
meFeial interests and enlargement OF
the credit OF honorable men. But If you
will take the trouble to investigate the
matter " st home" you will discover the
close connection Of another national
bank with a piece of treachery that
would give the run and control of very
much If not most of our exchange and
deposit business. You will learn that
this bilsy-bOdy national bank was to be-
come the bond of Receiver for the
I Merchants, in return for which deposit
4 of trust ssid Receiver was to turn over
the collections and other business of the
closed bank, whereby snug little sum
was to be netted to q concern
that any day might go by the
board, If only left to the patron
age of the Radicals 1t supports
| aud protects in power. A nice little
| game, for the. monopoly OF the banking
| business has been spoiled, and our own
people, whose only error is too con-
! fiding tlust and confidence in their fel-
! low business men, are likely to come out
{" all rightn There are always wheels
within wheels. This affair of the Mer-
chants National illustrates the present.
| For want Of that associated effort which
distinguishes st. Louis, Cincinnati, Chi
cago aud New York cur merchants are
| as subject to the fluctuations Of rumor
as to our mercantile affairs as II stran-
/ 81 Sc
| hence they, as we'll as the general
public, fall an easy prey to any APP
parently fair statement, especially when
coupled with results like the closing of
this bank. Then, too, there is toe much
eagerness to kick down the bill the man
who has begun to tumble; and the smile
and smirk of selfish jealousy often lights
faces in Memphis thst should express
rather sympathy and regret. The Mer-
chants National was guilty OF dereliction
as to the National Bank Law, but other
wise 1 am well persuaded was solvent,
or il any loss, such only was to fall on the
stockholders. Now take the statement
Of almost any Il ationsi Bank, one of ours
for instance, and you will see that this
law has been many times violated with
out drawing such Consequences as fol-
lowed in the instance l write of, and
that such could only have occurred as
the result of a determination to break
down our own people and sn institution
most important ct this time, especially
to our commercial welfare.
AS TO STATE FINANCES
I am well assured that the State author
tiles have connived with certain iBfinen-
tial parties connected with our East
Tennessee railroads, whereby the July
interest on the bonds of these roads has
been withheld with q view to enable
both to make fortunes from the failures.
These parties through their agents here
are selling these bonds short, under the
excitement occasioned by this failure,
throwing down the market to enable
them to buy in again at deprecated
rate, and so become the sole possessors Of
a property that should rank with the
best securities in the country. This,
coupled with the Merchants Ma
tional and several discreditable
financial schemes of BrownlOw's pets
that have transpired, proves not only the
dishonesty Of the Radicals, but their un-
fitness to be the repositories of State
trust in any degree. Never was State
cursed as Tennessee is with a pack Of
thieves. From q cent up, they disdain |
no transaction that will help them in |
their nefsTieus plans. We know only ia |
part in Memphis; in New York, one |
learns fully. Here the glamour is lifted, |
and seeing no longer ss through a glass |
darkly the hideOus and naked defOrmity |
Of BrOwnlowism stands revealed as the |
darkest and dirtiest phase of Rsdicalism |
in the United Stsies. Faugh I am dis |
gus,ed with the SUBJECT, and turn to an- |
other Of fairer import and more promis- |
iBg.
STATE GRIEVANCES.
The document presented to the Ma
tional Convention, and prepared by our /
townsman, Judge Brown, is likely to |
become q campaign paper of great |
weight. Its calculation of our political |
and financial condition is so searching |
and thorough, that it is deemed wise to |
give it an excessive circulation, embrace |
ing every part Of our country. AS well |
posted as Democrats supposed them
selves as to our condition, they were sur |
prised to find how little they knew of it |
by the light of this important paper. 1t |
has been read eagerly here by ali classes |
and pretty ably discussed, although I
the Radical organs, feeling their in. |
ability to combat its statements, |
hive passed it in discreet silence |
Il has drawn to us the sympathy Of good |
people from all the States, aud serves as /
q warning to other Southern commune /
ties of what they may come to unless |
they can kill RsdicRlism at the ballot. |
box. trust and hope that all our pa
pers Will give it general circulation, and |
that in Arkansas, Mississippi and other |
contiguous States it will be sent into ev-
cry house, melancholy statement Of /
our grievances.
THE NATIONAL ooNsITrEE.
/ learn reliably that DR.. Leftyieh has
been elected by his fellow members of
the National Democratic COMMITTEES a
member Of the Executive Committee of
that body, a position that will enable /
him to be OF great service in the canvass
to come, not only to our State, but ia our
section.
also learn that this committee have |
made ample arrangements for the cam
paign, which it is proposed to open in
Maine at once, and New York, in few |
weeks, vigorously and ably. Mr.. Chas. |
Cameron, of Arkansas, has, / believe,
been selected as one of the eanvassers for
Maine, where he will at once inaugurate
the movement.
FORREST AND wAsHBURNE.
uooO AASN1AbtiSheA OeueIalS met I'D
the hall Of the st. Nicholas for the first
time yesterday. They were introduced
to each other by Mr.. Jesse w. Page, ir.,
and for time enjoyed quiet and social
chat about the late war and the present
political condition OF the country.
HoNoRs 10 SOUTHERN DELEGATES.
A dinner was given at rqlmonico,s
last night to the Temsinins Southern /
by leading members of the
Democratic party, st which Tennessee
was represented by Gems. Forrest and
Bate, Judge Brown, and others, whose
names 1 have not been able to ascertain.
It was grand affair, worthy OF New
Workers and their guests. J. NIX.
THE New York Independent has
shoked off its ancient contributor, Prof.
Finney, who tried ia its columns 10 re-
vive the anti-Masonic- excitement. Not
satisfied with Tetailing /" Morgan . with
improvements OF his own, that veracions
individual made 3 terrific exposure of
degree which has no exisfenee