Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-10-02
COUNTY, FINANCES.


The near approach of quarterly court
and the registration of Lewis warrants for
county Indebtedness, give Tiss TO maoh
speculation and no little uDeEsiness.
What viii the quarterly court dor We
answer 1t Will do right. Is Il right 70 re-
debts Of the countyi We answer no. Is
1t right to pay the warrants given for
claims without consideration and fraudu-
lent w~arrsnts2 We answer no. Then
what is rightf To pay any amour of the
county Indebtedness that rests on a meri-
torious considerations; no matter about
the warrant; IL may be void. But behind
the warrant is the debt-a Just and valid
obligation. But will the court provide
for payment Of such Indebtedness? To
the last cent. Why? LIST, because there
Is no way of getting rid ofsuch an obliga-
ton, but by payment. Repudiation-sn
ugly word-thst makes honest men shrug
their shoulders, is a legal im~possibility
Neither q nstursl person, nor any cor
porstion can repudiate a Just debt. A
nation, or sovereign State, may repudiste.
Not so with counties or individuals.
2. Because a strong moral sense per-
yades the quarterly court which could
not be induced to repudiate a just debt,
If the thing were possible, in illegal view.
8 Because ound policy is against such
a course. And our word for it, there ia
an aggregate OF clear, sound, practical
sense In the quarterly bench, fully equal
TO the important trusts committed to l..
The court has intelligence, and g Just
! depreciation Of duty, legally and moral
ly. Have no fears on that account.
viii the court walt to be sued7 No
Why not? Because it would be folly.
The warrants being void seperate suits
would hsve to be brought in the name of
the party to whom each claim originally
became due, for the use of the present
owner. The result would be more than
one thousand suits. The costs in esch
case would be at least thirty dollars. or
thirty thousand dollars i sill. Hence a
sensible, intelligent u will not s ADMIT
to be sued, but Will arrange with the
creditors.
Will interest be paid on these clsims3
Undoubtedly. Whyf Because it is
the creditors right. Legally be
can compel it. He will get
it, because legally and morally, he
ought to have 1t.
There you have us. Various plans are
suggested. The creditors are among our
bsst citizens; they will be content win
fair and liberal terms.
One suggestion is to pay to each credit
tor the actual amount OF money and
simple interest, vested by him In war
ranfs, without regard TO the character OF
| WhEIhubSs IL IL Eaiu EQulbY WOMlus III
that manner be reached.
Anothe is to pay all Of certain classes
| of warrants in full, with interest ron the
time of their issuance. For example:
warrants for jury service, bridges, public
roads, judicial salary, officers fees, court
house Improvements and furniture, in
dexing public records, making county
maps, assessing property for taxation, and
| all needfdl work for same, stationary, bury
l ING n1nnGra nnhlfn nFfntinU TAKING nara
of the insane, the county poor; in a word,
every demand resting on service rem
dered, or benefit conferred on the county
for some legitimate county use."
Still another mode is to pay the whole
issue of Lewis warrants of every kind,
fraudulent warrants excepted, If there
be such, IN those past dus taxes that
have been accommodating for years,
the creditor to accept the same in pay
ment and, in the name Of the county, to
compel psymSnt for his use. 1t is said
there is enough of this class Of county
dues to pay the whole.
Something should be done that would
give immediate relief to the holders Of
this class of county debt. But they
should not ask all at once, nor in a way
to enbarrsss the county or depress its
credit. Both sides should make the
proper concessions. Get at the right, snd
do it in such manner as will be least
onerous TO the county, and yet afford the
creditor a fsir measure of reiieL. We are
informed that county warrants, after this
adjustment, will stand at 9Oc to 91c. The
day is not distant when they will 20 to
the latter figure, and there remain
We hsve faith in this discretion, intelli-
gence and moral sense of the court. We
believe the creditors will act literally.
Under such circumstances, 8 satisfactory
result is certain.