Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1869-11-18
SHE NATIONAL BANxS-S GREAT
CONSPIRACY.

The New York HttUld states thai the
National Banks are laying their heads to-
gether to induce the coming Congress to a
further expansion of the currency. That
paper says.
.'Of course, this object will not be
avowcd 10y many for fear OF alarming the
public ut the grasping tendency and enor-
nous power of the national banks. But
if the banks should succeed in enlarging
the volume of their circulation they would
soon raise the cry of a redundant curren-
cv. in order to cnforcea contraction or
total withdrawal of the legal tenders.
They would rally in their aid all the on
to-specic payment theorists, and with
these would make q combined movement
10 drive the grcenbaCks out of existence,
under the speciOus preteXt of returning
10 specie payments. Not that the nation
al banks want specie payments or expect
10 return 10 them. They simply want
the entire national circulation, the control
of all the money in :hc country, the enOr-
nous profits of fOrtyOT fifty millions a
year on their currency, and the vast pow
ct all this would give them over the gov
eminent, politics and the material
interests of the republic. That is
what this gigantic, dangerous monopoly
is aiming at 1t will have, un-
doubtedlv, a powerful influence in Con-
gress. for two-thirds of the members,
probably. are interested directly or indi-
rectlv in the national banking institutions.
There is the greatest necessity, therefore,
that public opinion should be aroused to
the threatened evil. "
Our Washington dispatches this morn
ing advise MS that Congressman who are
now in that city boast that both parties
win be united in December in asking Con
gress to increase the National Bank circu
Iation in the West, and they declare thai
If This is not done, the Western members
viii not vote for any proposition TO con
solidate the debt at a lower rate Of inter
est The country should look with alarm
on such a project as is here foreshadowed
cor upon any project to expand this kinC
of currency. If there is a de
mand for any more currency, lct the GOV.
eminent issue its greenbacks. Instead Of
listening 10 projects TO increase The Ma
liunal Bank circulation, Congress should
sweep The whole batch of such notes now
in circulation from existence. Eithel
that, or make banking under that system
"a free thing tor every body. The follow.
ing from ap intense Radical source, the
cincinnati Go-e''r, is "a telling vindica.
ton of The Democratic opposition to that
huge monopoly, the national banking sys.
tenn. The Ga-citc say,:
There is an easy and honest solution
20 the question Of more banking facilities.
a il is right 10 charter banks 10 issue
notes Tor money, there is no rational limit
10 10. To make II a privilege of a certain
number is iayoriIism which ought io De
o,lious. and which no government lme
the right Ca do. The only limitation that
Is required is the natural one of COIN rc
Gcmption Without this DO bank should
have been chartered With this it may be
free 10 all TWAS a great wrong to charter
banks 10 issue iTcdcemablc notes when the
government itself had greatly inflated
lbc circulation. Ii should not be extended
another dollar. Everybody who talks
of more banking privileges processes to
keep specie payment in view. No one
who thinks of specie payment will pro
nose 10 increase the volume Of iTTedeema-
lie paper. But let all mouths be stopped
fy opening to all the right 10 issue notes
nayahle in coin ON demand. IL Will he
ali the same to the banks; for ali Their
business win be placed on a specie basis
And in this way we shall begin TO have
some healthy use for coin; whereas II Is
nov all absorbed in the unhealthy sur
plus in the Treasury, and the speculatidns
il Wall street, and in shipments abroad. y