The Union flag. [volume] (Jonesborough, Tenn.) 1865-187?, 1868-11-20

graciously exempted US from the psstilence
that walketh in darkness, and the destruc-
tiou that wAsteth at MONDAY" Plentifu!re-
wards have compensated honest Industry, and
general thrift and prosperity have attended
our fellow-ctizens.
THE RAILROAD QUESTION.
The six railroads In the hands of Receiv-
ers are indebted TO the State, on interest ac-
count, due July |, 1868, one million one hum
dred and twenty thousand nina hundred and
ninety-six dollars and eighy-six cents. The
interest of these roadS. as well as that of the
State, require that they be sold, and the pro-
ceeds thereof be applied to the reduction Of
the State debt.
would have seized the two other roads
for failure to pay the July interest, and placed
them in the hands of receivers, but that |
had learned by experience that to do so
would only entail increased burdens upon
the State Treasury.
recommend that no more appropriations
be made to railroads, exceptin those cases
where the State has large interest in said
roads, and would suffer heavy loss on ac-
count of the lack Of such appropriations.
OF this class are the roads, running out,
north and south, from Knoxville, and the one
extending south from Morristown and, also,
.hs road Of which Hon. Senator Parker is
President. These roads, in order to become
profitable and productive to the State, will
require enough additional appropriations to
enable them to complete their lines, so as to
connect with other roads now iE process Of
construction, propose, however to meet
these demands in way not to increase the
liabilities of the State. The plan is this:
Lesding gentlemen connected with import.
ant railroads largely indebted to the STATE,
are asking for authority to issue second NOR
tage bonds, with view Of exchanging them
for State bonds; thus purchasing State
bonds BY the avails Of these second mortgage
bonds, the debt now due by the State would
In like amount, be etransferted to these rail.
road companies, and SO the State would
be relieved of burden of several million
dollars of debt now resting upon II.
I regard this proposition with approval
and advise its adoption by the Assembly
The payment of large debts now due from
the roads alluded to, aud the sale Of the
roads already in the hands Of Receivers
would reduce the State liabilities at least
one-third,
This plan, il ia seen, would enable the
General Assembly not only to reduce
materially the States liabilities, but also to
render such necessary additional aid to the
roads whose completion is demanded by con.
sideration OF public economy.
Several Of the railroad companies have un-
settled accounts with the sinking fund, the
State being indebted to them and they being
Indebted to the State. II is important that
on early settlement Of these accounts be bad.
/ recommend, therefore, that the proper ac-
ton be had by your respective Houses to
procure the desired settlement with the said
roads
Since the adjournment Of your extraordi-
nary session the Comptroller has visitad New
York and made satisfactory arrangements for
the payment Of the July interest. This fact,
together with the result of the late State and
Presidential elections, has induced an APP
probation Of our State bonds and material
depreciation In the price Of gold.
The occasion serves to allude TO the graf
flying fact that, financially and otherwise,
Tennessee occupies far more desirable con-
ditiou than any Of the Southern States re-
Gently In rebellion. Thus the policy of re-
construction maintained by the Union Re-
publican party Of Tennessee finds ample and
triumphant vindication by Its achievements
among u.s. and thus, also, the path Of our
future growing prosperity is traced for us by
the history of the last four years. We have
only to follow up with steady nerve and nn-
faltering step the policy thus far successful, to
assure 10 tbis great Commonwealth that de.
gree Of thrift, wealth and power to which
our national position, our boundless resource
cs and our eDtsrpFising population so emil
neutly entitle as.
THgBASK or TENNESSEE.
This Institution has been in the hands Of
officers appointed by authority of the Cen
eral Assembly for three years past, with >
view to having its affairs wound mp and its
effects made available to the resources of the
State. have seen from time 10 time, as you
also have, the report of its President. have
no other complaints to make against its Off
GERS than to express my regrets at the slow
ness of its movements towards the conclu-
sion desired. and recommend that measures
be adopted TO wind 1t up forthwith.
THE FRANCHISE.
Strenuous efforts were made at your recent
extraordinary session to induce Jon to extend
the franchise, and include within u those
who, by the law and Constitution Of the
State, are deprived thereof. Not unlikely
the attempt will be renewed aud enforced
during your present meeting.
There should be Discrimination exercised
concerning those who were in rebellion
They are not alike eulpable for the past, nor
untrustworthy for the future. Foi those who
were involuniarily drAwn into the service Of
The rebellion, and who, since its utter failure,
have given evidence that they accept the re-
suits IN good faith that they are good citi'
sens, quiet and law-abldiug; that they baye
strictly observed their parole that they viii
not use political power 70 proseribe and de-
grade those whom the war has emancipated
and invested with the rights Of eitEens--for
disfranchised persons Of this description the
franchise might safely and. therefore, wisely,
be extended. The extension should, how
ever, be applied with suitable guards and
checks, that advantage could not be taken
Of rs liberalily 70 the danger and harm Of
the State.
Asto the other class Of rebels, who entered
into Il voluntarily and continued 10 II from
choice until their arms were vrenched on,
Of their hands, and who, since the surrender,
aud IN moral violation Of their parole, havs
eoutlousd 10 work for the lost cause, who
are restless axilAlorh who hare fomented
violence and lRVlessnsSs, who have melted
70 public disqulet and rest.venoss the ques-
lion OF their restoration 70 full civil rights,
"A IA very different II the time should ever
-. ,vhan fh.v ahouid ha TINA restorad