Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-10-01
.ss-%ior Harris aue Ihe Bank of Ten


ises'sfer Harris and the Bank Of Ten
10 the Amertcshs
10 Your issue Of Septenn Der 9th there ar
Pelzr este o. Col. John II Savage, referring
natters OF the Bank Of Tennessee, and the acfio
81 senator Harris in regard Thereto rae ~ :
ator MONA 20 nave zen drawn out speech Of Sen
subject matter, and secnas fneen ded Is 4 Irofaa
asana i certain remarks In Senator Moran
Ii Is calculated in some RESPECTS N ,5is1s.d
nsouss y 1,iay not nave beer 70 Intended Itisno
necesSary, however, 20 reject in this coInmunica
ten In any mAnner upon the motives OF Mr.. say
The Democratic party does not de.,r.. aud 49,,
net sEete, That its leaders and represeutatfves
s6snle Dc erawn into personal controveFsies il
aud encouraged in fits ranks ms is cerfe5,i,
1sly apprecisted BY seAatoF Harris, and i s no
wen, boeYsf % aSegd miss.,, !. s1s9;
thas nall Ie ts should pet become history, In de-
The card, above alluded to, states among otbe,
.hsngs s1et sfator Harris in connection with the
I 81 thessse the Bank OF ennessee TO an, End
Senfn Cor federate soldiers fthoat warrsrt G,
rs governor in gold while private soldiers = ers
getting Confederate money.
4 = ne Wn9e rum y that the salaries OF Gov.
Herr1s ana All executive officers of the state were
paid them in Confederate money thrSuebout Inc
1855, after the Confedersoy had gone down ens ts
currency became vaiueless, such balances of sal
A simple reference 70 the act OF Assembly of
nay . i5bi, Slows that upon the secession OF Zen
ness se treH the Union the Legislature author
tzed and directed the issue OF s5OOO.eoe OF war
sonds tor the public defense, and created mill
made il the uiy Of fSe governor 70 an5I ana
organize troops for said purpose ~
1t Is further fact that in p,lfsr1auc NJ This d,,-
about 5000 900 Of said bonds were Issued and sold
ahd the Iuns aIluced 70 as drawn from the Bank OF
len Jesse OF, ofoer OF Gov. Harris president of
ne 1illtary Board wss simply and only the funds
aePoH ed % the credit of said Military Board be-
ING ne prOeeeds OF the sale Of said bonds The
people Of Tennessee win be slow to question or
cIeiese inc lalthinl performaucc of duty by their
S.iSsen leader though the cause he was serving as
their CHIEF went down in the struggle
me last official act performed BY Harris as gov
5 Tesary OF STATE Comptroller, Treasurer. then in
fsf r. ag1 IN custody OF the archivss of the
Sod az the same time to address a letter 10 e. q
t President and John A. Fisher. cashier OF
sne bdllk OF tennessee (also then in Georgla1.
SSIglng them TO return to the bankinghouse in
Sashyile the coin and other assets, books and pa
seat by Mr.. Yhlthome, under sale eondnef
s.e4teo py the FEDERAL Gen. Candy. at the request
Candy. ~ '4eu0' :"
u would take too much space to give a full his
o. these matters Mt this time. but this much is
said 70 avoid Misrepresentation, and attention. Is
called to lhe following extract from a speech OF
oen1t0r Harris at Galiatiu, September %, 1916.
puplsned IN the american at that time referring
10 the same matters:
"HAt SENATOR HARRIS HIMSELF SAID IN
1876
Gov. Harris paid glowing tribute tn GOV Tn
Ien ana his services ia the State and city of New
tork, after which he entered into an explanation
lie said:
Having been required to give an explanation of
me loss OF the school fund, cheerfully do so to
the extent OF my information upon the subject
BY the act OF January 10. 1885. the Bank OF zen
nesASe was incorporated. aud the school fund of
the State was made part of the capital of the
bank. fns sixth section of the act provided that
and appoint twelve persons to act as direct
1-a = which nominations and appoint
Tents shall be subject to confirmation Or re-
lection by the Legislature. When the nornina-
tons OF directors was conferred by the General
all tne P powers Spd duties Of the cover
even II a vacancy was occasfoned by the death or
resignation OF any one of the directors nomna-
eeu tne law gave the governor no over TO fill it;
u was filled by the remaining directors These
1lrectors elected alt the officers OF the bank and
appointed the directorso of all the branches, the
governor having no more power over the action
ana management Of the bank than any other citi-
1897 the Hon. Cave johnson was president OF the
bank Having the fullest confidence in his capacity
and integrity, renominated him and the Board of
directors that found acting with him, and they
were confirmed by the legislature
After my ref Election in 1859, was informed by
Mr.. Johnson that his failing health would compel
him to retire, and at the Srnle time most uf me
dfrectciy expressed wish TO be relieved, where
upos nominated a new board, which was con-
1 a1med by the legislature. When reelected in
1901, renomlnated the same board OF directors
tnat had nominated in 1853, and theyiwere again
! Thoss dirs ctors having been first appointed in
is ., shows that their appointment was not con-
troiled IN any measure by the war its incidents
The president and directors were the legal Gus
todians OF the capital and assets of the bank,
ana had tue entire management of its business,
subject only 10 the authority of the General As
sembly, the governor having no authority under
the law 70 interfere with it, in any manner what
ever.
With regard to the removal of the capital and as
sets OF the bank from the State in 1862 can only
say that the 9TH OF February, 1852, the Leisla-
ture passed an act authorizing the bank, when
It's location is threatened and endangered by the
enemy, to remove its capital and assets TO some
point out Of the state and transact its business at
:. The officers OF the bank were as much in sympa-
thy with the Confederate cause as 1 was. Some
DoneIson, without consultation with me, they
sent 70 Atlanta, Ga, portion of the assets, and
papers and assets OF the bank for removal at mo-
When Fort Donelson fell and Nashville was
evacuated by the Confederate army, the officers
of the bank removed the balance of the capital
and assets south TO keep them within the Confed-
7 I see that G. C. Torbett, who was president of
mates In deposition that he gave before legis-
laiive committee in March, 1850, that it was by
order of Gen; johnson that the assets of the bank
were removed from Nashville.
After the evacuation of Nashville went to the |
army and made my headquarters with the COM |
handing general OF the army. The bank being in
the Conferate lines, IN the custody of q. g. Tor
pin teller with some OF the officers of the branches
From my constant association with the mmsnd |
ton, and kept the officers of the bank advised |
from time TO time of the places of greatest |
safety, and when necessary. secured for them such
transportation and guards as were necessary for |
the of the assets; but this the full
extent Of my interference with the management |
OF the bank ate In 1865, or early IN 1864, Mr.. |
rorbett exhibited TO me an order issued by the |
Secretary OF the Treasury Of the Confederate |
of Tennessee basis for the financial operations
of the Confederate government, informing me at |
the time that the coin of several OF the banks of
the Southern states had already been impressed.
went Immediately TO Richmond, had an inter |
view with the Secretary of the Treasury and Pres
ident. informed them that the assets of the bank |
were not the property of a private corporation, |
that they b. longed to the whole people of Tennes
see, and were sacred trust in the hands OF the |
officerso the bank, and protested against the i'm
prestment or seizure of the coin. at my request |
the order WIS untermanded and the coin saved, |
and it, with other assets of the bank remained in l
the custody Of the officers OF the bank TO the end
see that GOV. Brownlow in his message to the
Legislature October B. 1865, says that there was
turned in gold and silver coin SAG. 7l9 90 which
bonds
1t appears from the deposition of George B. Rut-
ter that he was the president of the National Bank
bank was made depository of the funds of the
State, through political influences, with the un-
among the leading Radicals of the
State . that this bank was to support /
the Radical party, and be their financial agent and
Iurnisn money 70 run the machine whenever they
aud frequently talked OF prior and subsequent to
the pass g Of the bill making the bank the fiscal
That in May 1866, the s6is, $50 OF seven-thirty
United States bonds were deposited in the Ten
ucSSte NauonAi BANK anu LQaI tne uTdItS Ol TIE
members of The Legislature and other Radical
leaders upon the bank to support the Radiea'
party aud run the machine were SO
frequent and heavy that the bank was soon driven 1
to suspension and Insolvency.
never knew, and had no other means Of know
ing than every other citizen, from the published
reports OF the bank how much coin or other
assets the bank had
see that Col. Torbett states in his deposition
that there was about 100000 10 specie when the
oank Went south; aud he also states in his deposit
Ton That ~ in coin given for sterling ex-
enange, snd that about years salary was paid TO
also see that Col Young. of the Filth Caval ~,
receipted the oIecer OF the bank, on the 18th OF
May, 1865 for ffty-seven kegs aud boxes of gold
and silver coin, the aggregate weight of which was
S2g6 pounds. L am told by bankers that if the
kept by banks the s296 pounds would be quite
equal to the $500 OO0 but pom that subject know
nothtog. l have also been Informed thst when
the coin, sssets books and papeTs OF the bank /
were returned to Nashville they were dumped |
down in one OF the rooms at the capital, and re
OF this know nothing
According TO the showing of the Republican
through four years of war with loss of less Than
thirty three per cent, but 1 doubt very much |
" neither it was diminished beyond the amount m
vested IN the sterling exchange and the years |
salary paid TO the State and bank officers, stated
by Col. Torbett 1t passed through several hands |
before it reached the capitol, and was, appre- |
bend, not very carefully guarded between the |
time il reached Nashville, and that OF counting |
aud investing il in bonds But. be that as it may
year TO squander what was left of it, though at
home ana in time OF peace
The above gives in brief the facts referred
to in the card.
A IENNEssEAN, A DEMOCRAT AND A con
FEDERATE SOLDIER
YELLOW.FEVER.