Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1873-04-02
SPEECH.


Mr.. SPEAKER: 1 do not understand,
nor can / sea the necessity for so much eX-
element of the character evinced by men,
bers on this floor, when we are engaged,
as we now are and have been for several
days past, in the consideration of one Of
the most grave and certainly most import
ant, to the people of the State, of any
question that can or will be presented for
our consideration as legislators for q great
State. Why becomess so excited more
like jockeys around the race club, then
grve and dignified Representatives of the
PEOPLE deliberating over questions of State?
/ appeal to members of the House to lay
aside passion and prejudices, and let US all
rise above personal considerations, and pc
culiar preferences, and act together for the
common good? AS to myself, long since
learned through the vicissitudes incident
to worldly contact, that no one individual
could have his own particular way about
every thing. That being so, as Mr.. Web
ster once said, noYthat the storm has pass
ed by, that the wttassssf undue eXcitenIent
have ceased 10 lash their Jury around us,
that the hurricane of passion no longer
RACES in our midst. that the lightning stroke
of sarcasm, wit and satire, not to say in
vective, has lost its appalling glare, let US
take our reckonings, ascertain our bearing
find our longitude and latitude, and see
for ourselves, and understand, If possible
one ofanother, whether we are drifting
into the port of repudiation and dishonor
or the harbor of honesty, credit and future
prosperity for the State and people.
After taking q calm survey of the situa-
ton looking to the facts and circumstances
by which we are surrounded, what, ask,
gentlemen, what is our real condition? A
true statement the case presents us In debt
to the amount of 81 ,59S, ,036. SO past due cou-
pons, this much of our public debt having
matured, and the holders asking that
something other than reputation be done
In their behalf. Here we stand face to face
with our creditors. Now, if we can pay
this liability, that is all not only good, but
very good. Can we do it? No sane man
VIII Insist that the people are either able
or willing to bear q rate of taxation suffice
lent to pay this now due debt. Hence, if
anything is done, it must be something
other than paying it in present cash. But
the question comes up here, whether or
not it is our duty as Legislature to make
any provision whatever for its settlement,
The opponents of the funding bill have
presented all sorts of arguments except
those of logic and force However defec-
1--WE others views presented may have
been, one position on the part OF our ene-
mics have been made Enthusiastically plain
ana certain. l allude to the manner and
matter or their references to the ''bloated
bond-holders," "bond-rings,n f'specula-
tors, and ike characters. AS / under
stand the position of gentlemen on the
other side of this question, il Is to leave
the bondholders just where they are now, I
withour debt due and no provisions to pay
IT, and without auy declaration on our
part that il shall be hereafter paid. And
many reasons are assigned why this state
OF things should be permitted to remain.
some OF the arguments presented were di-
rected, as understand them, more against
the ownership of property by the citizens
and the exaction of taxes by the govorn-
ment than against any peculiar or general
feature of the funding bill before the
House.
AS IL is asserted by some, whose zeal has
certainly outstripped, their knowledge that
our creditors are an unworthy and undeser-
wing set of "bloated bondholdersn and ring
men, it will not be out of place, Mr.. Speak-
er, te examine fora few moments and see
Tor what purposes our bonds were issued
and pl ced in the market. The State of
tennessee, great in territory, great in soil
great IN the possession Of inland water
power courses and beautiful rivers, great in
wealth-in n word, great IN the
ENJOY yment or so many sources of undevel-
1ped wealth, that her future actual wealth
ana accumulated population was lien, o.
= now is, beyond the capacity of mathe-
mates 10 compute, IN this condition our
young state beganits career-poor at the
line, butcertalnly rich in the Years to
'ome. We had mo capitol in which to
ransact the business OF State. We ha d