Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-11-08
TENNESSEE LEGISLATURES
Senate.


THURSDAY, Nov. 7, 1867. Prayer by
the Rev. Mr.. Huntington.
The House Finance Report was, on mo-
tion of the Senate Finance Committee,
cOncurred in.
Under a suspension of the rules, the rules
governing the Senate were SO amended as
to authorize the appointment of a standing
Committee on immigration.
Senator Garner introduced bill taking
the power of appointment of Metropolitan
Police Commissioners ont of the hands of
the Governor, and have them elected by
the voters of the city. Referred to Conn
mittee on interpretations.
A bill incorporating the "Widows' and
Orphans Fund" with f. d. Farnsworth,
J. II. Oney, r. G. Foster 81, j. l.. Weak
ley, and III. Z. Hensiey "a incorporators,
passed first reading and was referred TO the
Committee on Interpretations.
The resolution instructing our Senators,
and requesting our Representatives in Con-
gress, to ask that the United States bonds,
not payable in gold, be paid, on maturity,
in greenbacks, came mp and was discussed
by several Senators.
Senator Rodgers, who introduced the
resolution, discussed it with zeal, and pre-
sented an elaborate argument reviewing at
length the nature of the contract between
the government and the bondholders, urg-
ing that the government would be fulfilling
in letter and spirit its contracts and obi
cations by paying off those bonds, not pay
able in gold, in greenbacks, as the holders
of the bonds gave the government green
backs for them. He was opposed TO any,
thing which even looked like repudiation
He was for fulfilling, in its strictest sense,
every pledge given by the government,
and contended that our only hope of ever
relieving ourselves and posteTity, is TO stop
the enormous accumulation ot interest,
which is crushing out the vital breath of
the nation at the rate OF $500, 600 for each
working day in the year. He was for the
many against the few. The bondholders
we're but few, and they live sumPiuonsly,
drive splendid equippages revel in lnKu-
! rious homes, and the millions OF the tax
paving poor people toll early and late 10
= pay the interest on these bonds. The Psy-
/ ment of this vast interest, while it Is oner-
ous and oppressive, does not reduce the
/ national debt. 1t only entails 1t on our
posterity. By paying of these greenback
/ bonds in currency it would not initiate the
currency to such degree as 10 injuriously
affect the trade and financial Transactions
I Of the country.
Senator Elliott was opposed to the reso-
luton, and argued that the proposition
looked like repudiation, and that he could
not do anything that would bring faint
or dishonor on the government OF the
United States He was in favor OF meet,
ing our obligations to the letter, and al
necessary, he was for dividing out our
estates to meet the demands Of the govern"
ment if the honor and credit OF the gov
ernment should demand il. Believing that
the resolution contemplated an indirect
repudiation be was opposed to it, and moved
that it be laid on the table.
Senator Garner expressed himself ln Ia
vor Of the resolution, and Senator Eckeil
in opposition TO it. The vote was then
taken on the passage Of the resolution, and
resulted as follows: