Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-03-28

not acted upon until all the opponents had
discussed it? The objection of the anti
funders is that the bill was passed by vote
OF 45 to % before the entire twenty-three
made speeches against it. That is, very
respectfully, ''bosh." It is charged that
''the majority muzzled the minority" that
''the bill was rushed through with undue
haste" that "all the funders had an oppor-
tunity to make their speeches" Here again
We have, very respectfully, ''bosh.n We can
not now call to mind an instance in the his
tory of Tennessee legislation where meas
ure was more leDgthily discussed than this
funding law. Several bills upon the SUBJ
ject were introduced in each House. They
were pending for weeks. They were be-
fore the Finance Committees. They were
constantly talked of among the members,
and discussed in the newspapers of the
Slate. In the Senate the subject, having
been previously made the special order,
was taken up on the third reading March 4.
1t underwent a very able, thorough and
Protracted discussion for two days. At
d TX ofthe second day, March 5, the bill
passed the Senate by vote of IA to 8. 1t
then went to the House. 1t was passed on
It's first reading. On subsequent day it
was passed on its second readirg. 1t was
referred TO the Finance Committee,
who, after consideration of it, return
ed it TO the House with proposed
amendments. The third reading of the bill
was made the special order for Thursday,
March IS. We now give extracts from the
published reports of the Legislative pro-
ceedings to show the progress which was
made with the bill and to completely dis
prove the charge Of "undue haste :"
The funding bill, as it passed
ally amended, came up on third reading,
March 1S] being the special order for II
O'Clock.
a minority report had been read during
the morning, and signed by M. Jesse r.
Brown, of the committee ON Finance, WAYS
and Means. Mr.. Brown opposed the pas
sage of the bill on several grounds; among
| others, on the ground that it was in eX-
treme uncertainty whether or not the State
would be liable for the ToIbett issue.
A motion was made to consider it section
10y section, which failed by q vote of 80
ayes, 20 noes.
Mr.. Cummins offered an amendment
enumerating certain so called claims against
the State, the Torbett issue among them,
which were not to be funded.
Mr.. Hoax stated that the amendment
was unnecessary; that he, for one, as a Re-
publican, was assuredly not disposed to
shoulder any Confederate war debt, bat the
bill as it stood amply excluded any such
| idea, and was perfectly satisfactory to those
who were most violently opposed to the
ToTbett issue being redeemed.
Mr.. Elder wanted 10 know If Mr.. Cum
minis would support the bill if the amend
ment be proposed was adopted, TO which
Mr. Cummins replied that he would no.
support the bill.
Mr.. Trousdale thought that the more the
bill was considered the more evident it be-
came that it ha been carefully digested
| and perfected, and the best thing that the
House could do would be to vote for the
| bill as a whole.
Mr.. HOuk stated that while the original
| bill set forth only what should be funded,
| Mr.. Cummings amendment stated only
| what should not be funded, leaving the gap
down for the possibly untold millions that
may have been issued at time not known
of. Pending further discussion, the House
! adjourned until 2:30 P. NJ.
AFTERNOON SESSION.
Mr.. Cummins' proposed amendment was
/ -, al
minis and Elder arguing for and against it
respectively.
L. was finally rejected by vote of %
| ayes 10 ~ noes.
A great many amendments were here
offered to the bill, none of them by friends
of the bill, but many of them by those op.
posed to it, who offered their amendments,
TO cucumber it, if possible.
| Mr.. McAdoO offered an amendment pro-
vidiDg for paying the Secretary ofStste and
| Comptroller 80 cents each (nstesd Of Is
| cents as provided in the original billy for
! registering bonds TO be funded. Adopted.
Mr. B. III. Tillman offered an amend
melt making the rate Of interest of the
! proposed new series of bonds 3 per cent.
instead of per cent. Lost.
| Mr.. j. L. Bond moved the previous ques-
ton on The passage of the bill, but upon an
| understanding that no idle amendments
y ogd be introduced, withdrew his N otion,
when Mr.. Cummins obtained the floor and
! consumed the remainder of the at ternoon
session in a long, earnest opposition to The
| bill. He gave historic instances to show the
| "perniciOus" effect of funding governmental
| indebtedness.
At the conclusion of his remarks the
! House adjourned till $50 P. NJ.
NIGHT SESSION.
The consideration of the funding bill was
| resumed. Mr.. Elder opened the discussion
| by speech in favor of the bill.
Mr.. Noblett earnestly opposed the bill at
considerable length.
Mr., Lindsey made an argument in favor
of the bill.
Mr.. Tate also discussed the bill al length
and was in favor of its provisions.
Adjourned until 10 O'Clock to morrow.
Friday, March IA, the Senate funding
| bill, which was still before The House from
| yesterday as the special order, was taken
up, aud Mr.. Leech spoke in favor of fund
| ing.
Mr.. Head made some earnest remarks In
| opposition to the bill, and gave figures to
show that the bill proposed to make The
State liable for what she could not meet as it
| fell due. He was in favor of levying an
ample tax, but could not vote for funding.
No individual could keep up with the world
and pay compound interest on what he
owed. Much less could State.
M. Elder followed, advocating the pass
| age Of the bill, and read authorities in proof
Of the position that the coupons of the
present bonds rightfully bore interest any
| how.
Adjourned till 2:30P Pm.
AFTERNOON SESSION.
The House met al 2:90 p. NJ, and spent
| the afternoon in further discussion upon
! the funding bill.
Mr.. JamIson t1Ok the position that it was
poor public policy 10 make provision fer
increasing the State debt without providing
! for increasing her assets.
Mr.. Latin spoke in opposition to fund
! ing.
The discussion for the evening was closed
by Mr. Jeup in . logical and earnest effort
in advocacy of the pending bill.
A journed till Q A. NJ. tomorrow,
Saturday, March 15.-The House met at
nine O'Clock, Speaker McGaughey in the
chair.
| The Senate fundin, bill. which had M.