Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1871-11-14
REPUTATION.

ZION is not thought OF by any -respectaD1e
number of persons in Tennessee, but in
this they are certainly mistaken. The
Memphis appeal, in point of influence, is
second to no journal in the State. 1t has
a large circulation, perhaps the largest of
any paper in the State, and is conducted
with an energy and ability worthy of a
better cause. That journal denies favor
ing reputation, but its policy and reason
ing leads directly to that result. In its is
sue of Saturday. last, appears a lengthy
communication on the subject, which APP
pears on the editorial page, showing that
the editors regard it as highly important.
we.beg leaveto call the attention OF our rea-
ders, and all those who are skeptical as to
the existence of reputation party in
Tennessee, to few extracts from the COM
munication in question 80 Aiih
Public credit abroad IS ever dangerous
merit. In the South it is peculiarly suicidal to
possess 1t. One person in a hundred thousand
has TALENT one in thirty can decently manage
his own private business eight men out of ten
are not only ignorant, but poor and also essen
TALLY dishonest. The offceholder is but the
representative of those who give him place and
power. Universal suffrage means that fools and
knaves shall rule. Southern Legislators and leg
islation has been since the war a curiosity un-
paralleled in history.
Thus it will be seen that this correspon-
dent of this able and influential jour
nal, boldly asserts the startling doctrine
that "public credit abroad is ever danger
Gus merit" and that sin the South it is
peculiarly suicidal to possess it.n There
fore, as public credit is ever dangerous,
and it being suicidal to possess it, our
policy is to show ourselves unworthy of
such credit by regulating our honest OBJ
legations. Our people will very naturally
reason against such monstrous PROPOSE
ton by saying that if we have no public
credit abroad, We viii be likely to forfeit
the confidence and respect of our friends at
home also. l--as --si .ti
This correspondent, further on i'm his ar
ticle, reasons in favor of the State going
into bankruptcy, as follows: I
Congress permits private individuals to take
the bankrupt act and repudiate their debts
why should not Tennessee be declared, as she
is in fact, bankrupt? Let her estimate the pres
ent value of the State capitol and what little
other property she possesses, levy direct tax to
that amount, pay it out proportionately to her
bondholders, and then repudate the remainder
of her debt Congress, at the point of the bay
onet, compelled US to repudiate the Confederate
and State debt contracted during the war Con-
gress seized the cotton which our government
had pledged to Liverpool for moneys already re-
ceived By our fcsal agents. Now, the Federal au-
thOrities refuse to listen to the camor these cap
italists have raised, and decline to pay them the
value of their property" -a
He adds:
no
lions of dollars of Southern property was either
stolen, destroyed or anninilated as such and we
were left in positive distress. Nearly all the
taxpayers were diafranchised, and few, save the
mob, were allowed to go through even the farce
OF electing our rulers During this period the
most utterly Goddess set of carpet-baggers that
God ever permitted to curse the earth were
tosted upon US as legislators In all sorts of
ways and for all sorts of rascally purposes, they
robbed US, and then this irresponsible horde
heaped up public debt which it is utterly inn
possible to pay, Borne down by taxation so
hendish as to despoil us of profit on our labor
and which leaves us poorer every year, we can
never pay it. 1t is madness to try to do so.
Such being the true state of the case, why not
rcpndidte 1t noao? Why groan year or two
lOngerl The merchant daily rsking his CAPT
tai without profit must ultimately lose it. The |
professions are but decently existing The far
have to submit to negro co-partnership and see |
their fences and houses rot their lands wear out
without one ray of hope except in population
and less taxation" - ..-.4 an a.
This correspondent closes his article
with the following appeal, the frank
ness of which we commend to |
to those laboring in the cause of repudia- |
ton, but who, unlike this writer, are want |
ing in frankness to admit it: fHEAH |
Men do not energetically deprecate that which
4 how n r1,,fh oor A 4ha
the payment of public Indebtedness, which is |
rallylng party cry amongst the Radicals, and |
also with the bondhclders and their political |
creatures, is kept up because they fear repudia-
ton. Well may they fear it; for their reign is
well nigh over in Tennessee. Let US preserve
the little remnant left of our property, add more
to 1T and save our wives and children from pow
erty or starvation. Why continue poor when
we can honestly be rich Wy be slaves when
We are righteously entitled to be masters
Awake from the nightmare of taxation to pay
rascally debt! Cut loose from the putrid corpsel
Now, honest taxpayers of Tennessee
Democrats, Republicans, all-you have the
issue here plainly presented All this
clamOr about taxation is but the reflection
of the doctrine laid down by this frank
The great question to be
decided by our present Legislature is, will
we ascertain what rate of taxes is necessa-
~ to maintain our public credit at home
aud abroad, unimpaired, or will we favor
a rate which a school boy, who knows
nothing of mathematics beyond the fun
damental rules of arithmetic, can demon
strate to mean an evasion Of our obliga-
tons, if not their direct and immediate re-
pudiation?
/
WHAT SHALL BE DONE WITH TT