Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1871-11-15
REPUTATION.

number of persons in Tennessee, but In
this they are certainly mistaken. The
Memphis appeal, in point of influence, IL
second to no journal i'm the State. II has
large circulation, perhaps the largest of
any paper in the State, and is conducted
with an energy and ability worthy of Il
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 q lengthy
communication on the subject, which APP
pears on the editorial page, showing that
the editors regard it as highly important.
We. beg leave to call the attention ofour rea-
ders, and all those who are skeptical as to
the existence of Reputation party in
Tennessee to a few extracts from the COM
muncation in question Of .t..'H .E
Public credit abroad IS ever q dangerous
merit In the South it is peculiarly suicidal to
possess it. 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. Tho ofliceholdcr 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
islaton has been since the war curiosity I'M
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," 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 repudiating 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 will be likely to forfeit
the confidence and respect of our friends at
home also.
This correspondent, further on in his ar
ticle, reasons in favor of the State going
into bankruptcy, as follows: -....
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 fcsa agents. n ow, the Federal
thorties refuse to listen to the camor these cap
italists have raised, and decline to pay them the
value of their property"
He adds
During the about seven thousand mill
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 DISTINGUISHED, 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
foisted upon us legislators In all sorts of
ways and for all sorts of rascally purposes, they
robbed us, and then this, irresponsible horde
heaped up pablo debt which it is utterly inn
possible to pay, Borne down by taxation so
fendish as to despoil us of profit on our labor
and which leaves US poorer every year, we eau
never pay it. 1t is madness to try to do So
Such being the true state of the case why not
repudiGte 1T noq1? Why groan q wear or two
| longer? The merchant daily risking his capt.
tai without profit, must ultimately lose it. The
professions are but decently existing. The far
mers unable to pay wages, or to buy fertilizers
| have to submit to negro co-partnershIp, and see
| their fences and houses rot their lands wear cut
| without one ray of hope except in reputation
| and less taxation" 81. "a
This correspondent closes his article
with the following appeal, the frank
ness of which we commend to
70 tnoSe laOOrlTS Ill tne cause OF fepuuia-
ton, but who, unlike this writer, are want
ing in frankness to admit it:
Men do not theoretically deprecate that which
1 they do not bear. All the blatherskite about
| the payment of public indebtedness, which is
| rallying party cry amongst the Radicals, and
| also with the bondholders and their political
| creatures, is kept up because they fear repudia-
| ton. Well may they fear it; for their reign is
| we'll nigh over in Tennessee. Let US preserve
the little remnant left of our property add more
! to it and save our wives and children from pow
| erty or starvation. Why continue poor when
we can honestly be richP Wy be slaves when
| we are righteously entitled to be nasters2
| Awake from the nightmare of taxation to pay a
rascally debt! Cut loose from the putrid corpse,
Now, honest taxpayers of Tennesse-
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
correspondent. The great question to be
decided by our present Legislature is, will
we ascertain what rate of taxes is necessa-
ry to maintain our public credit at home
and 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-
tions, if not their direct and immediate re-
radiation