Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-12-31
PAYMENT OF THE JANUAaYINTER
EST ON THE STATE DEBT

Mr.. Blackburn, Comptroller Of the State,
informed us yesterday that the payment Of
the January interest on the State debt is
progressing in a very satisfactory manner
and that the whole liability will be met
without fail. This will be very gratify~
ing intelligence TO the friends of Tennessee
both at home and abroad, and not the less
so because diligent attempts have been
made 10 depress and blacken the honor of
the State, by the circulation Of injurious
reports. The embarrassments of the State
have been extraordinary, and il is a cause
OF profound qualification and general con-
graduation that the public faith is pre-
served, untarnished, at time when the
collection Of revenues is necessarily re-
tarded by the depression of business. Let
the thinking citizen contrast Democratic
1861 with Republican 1867. The FIRST
period saw the State credit disgraced by
reputation at time of prosperity; the
second witnessed the redemption OF public
credit in the midst of the ruins and debris
bequeathed by Democratic folly.-Pre8s
and Times, Of yesterday.
We participate in that profound graft
tcation and general congratulation' in
dulged by the Press and Times, on the
assurance of the State Comptroller chat
the whole liability of the State on ae-
count of the January interest on the State
debt will be met without fail" But we
have not been informed that the Comp,
troller, or any other person concerned in
the State administration, is authorized to
coin money or issue bills Of credit when
the State revenues are necessarily re-
tarded by the depression of business.
The people of Tennessee have read news-
papers long enough to know that their
mere assertions do not pay public debts.
1t may be and probably is true that the
January interest on the State debt will
be paid without fail; but where does the
money come from ? Does the State run
its face to pay interest Is it not fact
that this payment of the January interest
saddles upon the State an additional
debt; in other words, hasn't the State
borrowed the money, or entered into some
anticipatory Exiting arrangement by
which the Comptroller has been enabled
to inject it without fail p "The thinking
citizen will require an answer to these
questions before he will swallow, without
inquiry, the statement Chat the payment
of the January interest on the State debt is
progressing in a satisfactory manner"
The people have been informed that the
management of the. State finances has
been characterized by fearful stupidity
and extravaganza. They have seen four
hundred and fifty thousand dollars in
gold melt under the magical touch of
Radical fnanciering, and know not
whittier it has gone They have seen
legislators appropriate to themselves
gold, or greenbacks sufficient to buy the
gold, while an impoverished people are
required to receive a Deprecated and
irredeemable currency" and pay it
into the treasury. to be discounted for
gold. These are matters in which the
people are GENEROUSLY interested They
want to know by what means the State
is to be relieved of its extraordinary en-
barrassments," and whether Radical
inanciering is not leading them deeper
into debt
When these questions are satisfacto-
rily answered we shall be prepared to
look into the States discredit and repu-
diation in 1861 The reference to the
period of 1861 is an ill-concealed effort
to cover up the deInquencies of 1867,
which the people will not accept