Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1868-08-01
HOW THE CREDIT OF THE STATE
Is BEING RTHNEn


HOW THE CREDIT OF THE STATE
Is BEING RUINED.
1t is significant fact that on the day
BrownlOw's message was delivered to the
Legislature, Tennessee bonds sold in
New York at 6S for the old and Cog for
new Yesterday these bonds sold at 63l
for the old and 62l for the new, and
private dispatches received after busi-
ness hours report that our bonds were
quoted at COZ, which is equal to $40 if
the July interest was paid Here is a
terrible break down inSthe credit Of the
State, as the result of Brownlow' bloody
policy foreshadowed in his message to the
Legislature The capitalists of the North
are losing confidence in the credit Of the
State under Radical rule They can see
nothing in the course of the Governor
TO warrant them in investing in our
securities, and the consequence
is, that they are now selling in New
York at a decline of twenty cents
since the lst of July This is not the
result of conspiracy, except it be
among our Radical rulers, to injure the
credit Of the State 1t is the legitimate
consequence of the bloody policy which
the Governor and the ultra Radicals are
seeking to inaugurate in this State. But
it is not alone in a financial point Of view
that Tennessee is suffering from the eff
forts that have been made and are now
being made to stir UP strife and produce
collisions that will end in a civil war
We are putting forth strong effort to
induce men of capital in the North to
emigrate to Tennessee. We send out
commissioner to traverse the
North and explain the advantages
which this State presents to the
manufacturer, the mechanic and the
farmer, but with our Governor prOclaim~
ing that there is no such thing as peace
and quiet, no security to life and prop
erty within our borders, our com
missioner must necessarily fail to induce
people to seek homes among us. They
will not invest their money in State
whose chief executive officer prOclaims
that q majority of the white people are
so lawless that large army is necessary
to keep down an outbreak and the over
throw of the State government 1t is
thus that our State is suffering from the
ill-advised course Of the Governor. The
Legislature must meet this crisis in the
spirit Of patriotism and enlarged states
manship, or all win be lost. The time
has come when partisanship must give
place to a nobler impulse The credit
of the State is running down every
day, under the impression derived from
the Governors message that we are on
the eve of a revolutionary outbreak This
impression should be promptly removed
by the refusal of the Legislature to order
out the militia, when the civil authors
ties, if they will perform their duties, are
fully competent to enforce the law and
punish criminals There is not the slightr
est necessity for taxing the people with
the cost of large militia force. Ii is
conceded by the Radicals themselves that
the cause of the discomfort in this State
has grown out of the disabilities and ex-
illusions imposed upon a large majority
of the white men of the State, the men
who pay three -fourths of the taxes levied
and collected to carry on the State gov
crnment And now it is proposed to
quarter a standing army upon this people
to keep them in subjection; rather than
remove the odious disabilities under
which they labor History should teach
our Legislators chat this resort to the exS
pedient Of the tyrant in professedly
republican State, must fail We trust
the members Of the Legislature will
calmly consider this matter 1t is a ques.
ton which invites the highest efforts of
craftsmanship, and if they can SO far lay
aside the partisan as to meet it in the
spirit of enlightened patriotism, they will
not only heal the discomfort which is
every where manifesting itself under the
reign of Radical rule, but, what is of the
highest consequence, preserve the credit |
Of the State