The Sweetwater forerunner. [volume] (Sweetwater, Tenn.) 1867-1869, 1868-08-06

and funds tie meet the necessary demands
in carrying out these orders. Gentlemen
are here from the counties partially in re-
bellion, and it is for them to say whether
a military forcejs necessary to afford pro-
lection and quiet among their constitu-
ents. You will also pardon me for my
plainness Of speech, as | have been COM
I planned Of as-rather tardy in my move-
ments to protect loyal men. Therefore
hit is that if our people are butchered in
| eold blood, and thecolored population are
intimidated and driven from their homes
and the ballot box, / intend the respon-
sibility shall rest with the Legislative,
and not the Executive department of the
State Government. If am regarded as
extravagant and violent, I shall be graft
fed to have the Legislature designate
some other person to take the entire con-
troll of this branch of the public service
again repeat, gentlemen, that you are
fresh from the people, familiar with all
the recent outrages complained Of, and it
is for you to apply the remedy for exist
ing evils. Should you conclude to order
out the ilitia, or portion of them, it
will be your duty to protect them by law
for all proper acts done under orders, or
in the line of duty. Otherwise they will
be annoyed by malicious prosecutions at.
ter they are mustered out of service.
propose next, to call your attention to
the subject of our State Finances. Near
the close of the late session, you created
a Financial Board, consisting of FIVE men,
bers, viz; The Governor, Secretary of
State, Comptroller, Treasurer, and the
President of the Bank of Tennessee. l
regret to say that, from the time of the
organization of the Board until the pres
ent, there has been great want of harmony
in its councils ond action. Very soon af-
ter the Board organized, the Secretary of
State and the Comptroller sent in their
designations as members Of the Board, as
did also the Secretary of the Board. The
remaining three members Immediately
convened at Knoxville and recognized,
electing s. Watson, Chairman of the Board,
Fsand Hon. W. Bosom, permanent Secreta-
ry. l offered resolution, which was
adopted, to the effect that we had no au-
thority to accept the designations of the
| persons before named, and alleging that
their designations should be rendered to
the Legislature, the power by which they
were constituted members Of the Board,
as the only body competent to receive
their designations. AT the same meeting,
we effected all the preliminary arrange
ments deemed necessary to provide for
meeting the July interest, and the Chair
man of the Board was constituted an
agent to 60 to New York and carry out
our plans. What these plans were, the
report of the Board will show. Closely
following the action recited, some men,
bers of the Board who had rendered their
designations, opened most unprovoked
and needless newspaper war upon the
newly elected Chairman and the policy we
had adopted. The effect of this contro-
versy was to distract our councils at home
and injure our credit abroad. One men,
Der of the Board went so far as to say to
another member, that he was in favor of
making publication, setting forth that
the State was unable to meet the interest
upon her bonds.
For the honor and credit of the State,
| trust no member of either House of the
Legislature will give countenance to such
an idea. Pride of character, the dictates
Of patriotism, and decent regard for the
opinions of mankind, should lead us to
frown Indignantly upon anything looking
toward the reputation Of our honestly
contracted obligations. Of the thirty-two
million dollars constituting our State debt,
fully three-fouths were incurred by the
loaning her credit and issuing her bonds
to the different Railroad Companies Of the
State. To secure the payment of these
bonds, the State has first mortgage up
on all Railroads so aided, making her Sc
curity fully adequate. Capitalists and
dealers in stocks, we'll understanding these
facts, have no lack of confidence in the
ultimate redemption of Tennessee Bonds
indeed, Our Bonds had gone up to seven
ty-eight cents on the dollar, at the time
of the recent difficulty in New York. Here
Twill take occasion to say, that after ar
rangements were completed to meet the
July interest, and everything was deemed
lsecure, a most foul conspiracy was entered
6nto somewhere, eliminating at New
J York, evidently designed to injure the
credit of our State and depreciate the
y price of her bonds, for purposes of specu-
lation. The result of which has been to
delay the payment of the July interest,
Hand also to greatly depreciate the value