Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-03-06
"THE NEW ISSUE.s
The Bank of Tennessee Case.
Deposition of Ex-Gov. Harris.

Deposition Of Ex-GOy. Harris.
The following deposition of ex-GiOv.
Isham g. Harris, used in the Bank of Ten
nessee, now being argued before the SUI
preme Court of our State, will be read with
interest on account of the relations borne
by said bank to the Inauguration of the
late civil war:
Question 1.-IOu viii state your place of
residence, age and occupation.
Answer Memphis, Tennessee; fifty
four years; an attorney at law.
Q.-What was your official position and
place of residence in the year 1861 and ND
10 February, 1862?
Al was the Governor of Tennessee
during the time specified, and my official
residence was Nashville, Tennessee, where
| spent almost my entire time, though my
private residence was Memphis, Tennessee.
Q.-State if during this time Il mean in
the period above mentiOned) it became
YOUR duty to organize troops; how many
and for what purpose. State what cash re-
source the State Of Tennessee then had
available for present use in her treasury.
A.-By referring to the act of the 9th of
MAY, 1861, it will be seen that it was made
INV duty as Governor sto raise, organize
anu ElulD - AOIIC LIt uGitltSE
of the State, to consist of $1,000 volun-
teers.r My recollection is that the State
had no cash resources available in the treas
ury over and above an amount sufficient to
meet to meet the current ordinary expenses
of the State government aIs the interest
falling due on her debts.
O.-How did YOU obtain the money used
in the equipment Of these troops? Didyou
obtain it by the voluntary action Of parties,
or by the exercise Of the csercive powers
vested in you? State if this force in your
hands was or not of such character as to
make resistance ON the part Of officers of
the banks impossible, and would or not
such resistance on their part have been dan
gerous to the individuals personally, and
Absolutely destructive of the Planters
Bank?
A.-The 9th section of the act of 9th
MAY, 1861, above referred to, authorized
the Governor of the State to issue and dis
pose of S5,0O0.O00 Of the bonds Of the State
for the purpose of carrying out the prOyis-
ions of said act. As necessities for money TO
organize and equip the force presented
themselves, l issued the bonds, but finding
no sales for the bonds in the market to pri-
vate parties, resolved that the three princi-
pal banks in the State, 1. G., the Bank Of Ten
nessee, the Union Bank, and the Planters
Bank should take the bonds and furnish
the necessary funds. The officers of the
Bank of Tennessee were in full sympathy
with me, but that bank was unable to meet
the financial necessities, and the officers as
sured me that without the corporation of
the Union and Planters Banks | would not
be able to raise the amount of funds neces-
saTy. / had several interviews with the +
ficers of the Union and Planters Banks,
and became satisfied that the officers Of
these banks were disinclined 10 cooperate
with the Bank of Tennessee in the matter,
but TO confine themselves to a strict system
of banking, looking alone to the interests
and profits of the banks. This | regarded
as hostile, and if tolerated, possibly fatal
to the Confederate cause in Tennessee, and
| finally said 10 the officers of the Bank OF
Tennessee thai the Union and Planters
Banks would not be permitted to pursue
that or any other policy inimical to the
! cause. That / regarded the Bank Of Ten
nessee and the Union and Planters Banks
as mot only important, but necessary e.
enen1s OF strength to the Confederate cause
| in the State. | had several interviews with
Orville Ewing, President, and ID. Weaver,
| Cashier OF the Planters Bank, and John
Kirkman, President, and James Cory,
| Cashier of the Union Bank, 10 induce them
to Join and cooperate with ths Rank Of
| Tennessee in taking such amount Of the
war bonds Of the State IS necessity required
or should require me to sell. My inst OBJ
| iect was to satisfy them that it was the duty
Of the Union and Planters Banks TO co
operate with the Bank Of Tennessee il
meeting the financial necessities Of thu
st tie in Iile olnergaLCy. then upon her.
| argued that they were identified with the
State and the people of Tennessee and
must stand OF fall with them. My early
| interviews with the officers of the Union
| and Planters Banks were 10 me quite un
| satisfactory, because they confirmed my aTl
! prehensi0ns thai these b.ni1S were rlSOlyzd
to adhere TO a strict system Of banking anC
| withhold their and 10 the State II
her then pressing financial necessities
! Finally I called al these two banks for thu
purpose Of representing to OTyille Ewing
! DEMPSEY Aseavel, JDhn kirkman and Jas
CORY the financial necessity pressing upOI
the State and to make them clearly under
stand that the Union and Planters Bank;
would not be permitted to pursue the poll
cy which they in previous interviews haI
silarss.s.l. but they would be compelled L
cooperate with the BANK Of Tennessee Il
meeting the financial necessities OF th'
State, and while / do not now remembe
tie language employed, l was satisfied then
rs am now, that I made these gentlemen
clearly understand thai if they did not CO
OpeTlte with the Bank of Tennessee il
meeting these financial necessities that
would compel them 10 do SO, or take the as
sets OF the BANS ont Of their hands an'
place them in the hands OF receiver Wk'
was friendly to the Confederate cause. u
tie conclusion Of this interview | was tOlC
by the officers of each Of the Banks tina
thew would give me q deaniie answer tina
evening or the next morning, and on th'
next morning l was informed by the officer
of both the Union and Planters Bank:
thai th6Y would take the bonds. My Opin
ion was ct tiIst time, ana il now, that If N
argument more potent than persuasion hat
been used that neither the Union or tn
Planters Banks would have invested dol
lar in the war bonds of Tennessee. Wa
resolved that the assets Of these Bank
should not be used against Tennessee o
the Confederate cause, but to the extern
necessary should be used in the support o
that cause. and should not have hesitate'
to order the seizure Of their assets at an,
time that | should have become satisfies
that it was the only means of securing thi
result. That l possessed the power to hay
| seized and controlled the assets of these
Banks al thai tiHe, | do not doubt, ant
| should. most certainly, have used I'll 4
power possessed to do so if the officers
these Banks had persisted in declining Z
co-oDerate with the Bank of Tennessee il
meeting the financial necessities then press
ing upon Us.
.. You state in the above answer tina
YOU 'was resolved that the assets OF theS
Banks should not be used against Tennes
see or the Confederate cause, and I
the extent necessary should be used i
support Of that cause, and shoul
no. have hezitaicd 10 og,-r the seizure Q
their assets az any time" Please nO'
state if YOU made this resolve known to tn
officers of the Planters and Union Banks
Any last visit to the Union and Plan
ters Banks above referred to, was made 10
the express purpose Of making the officer
| of said banks Understand, and l left then
satisfied that made them uI.dersrand tia
thew would be compelled to cooperate VII
the Bank Of Tennessee IN meeting GU
financial necessities. / had frequently n
sorted TO all other arguments that cOul
command, and felt satisfied that this Wa
4 l.. sNrH