Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-08-14

would be little inducemsnt for men {
initiate the Gods and shUn the service c
the Devil.
The world rejoices when tyrant dies
@-
THE FRUITS OF NISGOvERSMENT L,
TENNESSEE.
The instability, injustice and conf1s
sion Introduced into the public councils
hare, in truth, been the marital disease
arader which popular governments hGU
eUerutUhere persisted. Madison; in tn
F6derdlist.
The following article from the New
York Herald, is pregnant eommentar!
upon this text:
TENNESSEE FINANCES.
The rapid decline in Tennessee bonds from
about seventy-seyen a lew weeks ago 10 nearly
sixty last week has caused more Than usua
artentiOn to be directed 10 the financial ant
general condition OF she Sta.e- It's failure Il
pay the semi-annual inter est due on the LIST o
July was the immediate cause OF the break
md since then the developments IN the Isagis
laJure and elsewhere have stIl further i'm
paired ils credit. In the Senate bill was
offered and referred providing Tor the funding
OF the insured principal ana interest OF the
debt and all that may mature during the next
three years into six per cent. bonds, 70 run
thirty wears the principal aud Interest pay
able in Ma hVille. Tbs, OF course, If actee,
upon, would be deelaratery that STATE will
suspend ali payments on account of It's debt
for three years TO come. subsequently a bill
was introduced in the House provldipg for tie
funding OF the interest and maIuung principal
of the 0ebt for five years, thus suspending IN
1eresI payments for Two years Longer than the
Senate bin proposed; ard this was referred to
committee. GOv. brOwnlOw, in his message,
gives an alarming description OF the social aud
political condition OF the state. and recon-
mends the calling out NJ the militia snd the
summary infection Of the death psnalty upon
All mem beers OF the kukluX Kan. - True, be
says, 1t Will take money TO furnish a military
force, but 10y al men are emitted 70 protection
without ans regard to what IL may cust Z dol
lars and cents" From all this II viii be seen
That the bondnOlders have discOuraging pros
rect before them, and IL IS not at ali surprising
that Tennessee bonds have declined neither
would 1t be II they were 10 sink SUI lower,
for Tennessee financial effairs present just
now an aspect calculated to arouse grave dis
trust
discredit upon the financial officers OF the
Stale, and also 10 some extent upOa the Legis-
latule. At the close OF The war tie total STATE
debt, including arrears OF interest, was sbont
nineteen millions OF dollars, about fifteen nil
lions Of which were secured by lie4S main
lines Of railway penetrating ali the important
points of the STATE; but under the legislation
since this time the amount has been increased
10 about thirty I'VE millions We look in vain
for any fair equivalent for this large increase
OF Indebtedness. There have been no main
lines of railway built and not more than q
hundred miles OF new road have been con-
structed since the close OF The war ali over the
Etste Tbs common school fund has been
misapplied and sQuandsred, and the remnant
OF the banking c spll a. Of tue state Bank has
been also entfIeiy absorbed TO pay the ordinar,
expenses OF the i. cal government Antesedsnt
10 the rebellion. uoder the various acts of the
Legislature, known as tue Internal improve
meut law, appropriations wsce made Ia aid of
all the railways IN The state OF from ten 10
thirteen thousand dollars per mile, secured 10
the state by liens; but since tue wac the
legislation IN aid Of raIlWayS has besn O. a
very loose character, money having been
granted TO a reckless extent 10 81 number OF
short and Improbable line. As a case in
point " e may mention that s., $50 have been
given in aid OF the construction and recon
Structlon Of FIVE roads Whose aggregate length
is only one hundred and thirty- mve miles
name " rom fourteen 10 thirty-sik IN Hes each.
Teen, again, bonds have been given 10 roads
already under mortgage for aoout their real
value, and by the sac OF The former these
small companies, earning little more than their
running exp nses, were ensb ed TO pay tier
interest. Bonds have also been sold by the
state TO pay interest and militia expenditures
which last have oecn heavy. IhLs ntismanage-
ment OF the finances has materially i'm paired
the credit Of tue > ate snd trssted wide spreal
dissa tisfaction among the bOndholdeTs, ana HE
rebel element, chatting under disfranc nisemeut,
boldly threaten Reputation OF a debt which
they allege has been ioreeu upon taem without
of Tennessee, while its social cOnoiuOn Is
nearly as bad as It's Inances. The Governor
does not feel score in the Tall election without
the protection OF tle militia and, therefore, I
calls upon The Legislature TO supply the sinews
Of war, whAs the conservative element is at
fever heat declaring that II there IS any at
tempt 10 cOerce by force IL viii be met by Iorce
in return.
We would much rather appeal 70 the
reason, than to the passions spd preju-
dlces Of those who 60 Us the honor 70
read what we write and il we could
speak to those who insist upon the con
tinuRnce Of our Acknowledgement and Of
misgovernment in Tennessee, we should 4
rraf,r 70 appeaT - sh.s. r,aao, ar5 ., I
their instincts of selfinterest rather,
even, than to the reason or interests or
passions Of those whose opinions are the /
same IS ours.
Nor csn we believe that q serious and
sober appeal to their reason would be
by those among them who
have the public interest at heart, even
If they distrHsted those by whose lips the
appeal was uttered.
II what we write could reach them,
We should implore them to consider
whether either the prosperity or respec-
liability of the State can be subserved By
the impolicy that has plunged
it into bankruptcy, or at least brought it
to its verge; and by still entrusting the
fortunes Of the State to the care and
custody Of the political virago who surely
does no honor to the Office OF Governor Of
and is no fit successor Of the
great men who were The glory aud pride
Of the State, and who, departing, left
behind them, In her sky, long, lumi-
nous trains Of spiendor that have not yet
faded away. Is William G. Brownlow,
the common drsb and stold, whom any
Magistrate would condemn
10 the Punishment Of the cucking
stool,-is William G. Brownlow, of
whom as Wing Editor the Wing Party
was always ashamed, a fit and worthy
Of jackson, White, Grumpy,
Polk and Brown? Would not every ,
Union man in the State, If he could Law
lside the passions and rancors engen- ,
Tered by the war, be ashamed OF one
Eho is the abject slave Of his passions. ,
md who Etters In Language classical in
lell, sentiments worthy OF the foul and ,
Indecent words In which they are ex. /
lressed
Tell Us, you who are the rank and file ,
4 the Union party of Tennessee, for the
,enefit Of how many men are hostilities
and eighty thousand of your J
DISTINGUISHED ? Here in Q
Iemphis, you may count them on yosr I
myers. You may do the same at Nash
lille. These are the only men who have
nv thing TO lose by enfranchisement Of I
be disfranchised white men OF the State. @
low many OF these do you respect? .
or bow many Of them do you care?
on would be proud TO work to serve |,
rest man. Are you proud to work for n
le purpose OF keeping Stokes and Null O.
rs among the great men Of the Union ? d