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October 1st 1845

Sir,

By the resolution of the last General
Assembly you were authorized to employ
Council to consult with the Attorney
General upon the subject of enquiring
whether there had been a violation of the
charter by the Merchants Insurance & Trust
Company of Nashville, which was chartered
by the act of 1839. 40. Chapter 60. One of
the undersigned being appointed by you as
additional Counsel under that resolution,
he & the Attorney General have had the
matter under consideration, have examined
the Charter and consulted the decisions of
of the Courts of other States, & are of opinion
that the [illegiable] have exercised powers
not granted by the Legislature in discounting
Bills of exchange receiving money on deposit
and dealing in exchange and other States. The
Charter granted to the Knoxville Marine Fire
Insurance and Life and Trust Company,
the privileges and rights of which were granted
by the Merchants Insurance and Trust Company
contains a provision that nothing therein contained
shall be so construed as to give the company
the power of issuing bills of credit, or exercising

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