Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1873-04-01
SPEECH.

he q
nor can sea the necessity for SO much ex-
element of the character evinced by MEM
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 a great
State. Why become. 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, now that the storm has pass
ed by, that the waves of undue excitement
have ceased to lash their fury 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, aud understand, If possible,
VI
into the port of reputation and dishonor
or the harbor Of honesty, credit and future
prosperity for the State and people. /
After taking 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.? Al
true statement of the case presents us In debt
to the amount f 1858. OS6.36 past due coui
pons, this much Of our public debt having
matured, and the holders asking that
something other than reputation be done
in their behalf. Here westand face to face
with our creditors. Now, if we ean pay
this liability, that is all not only good, but
very good. Can we do it? No sane man
will insist that the people are either able
or willing to bear 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 f6r it's settlement.
The opponents of the funding bill have
presented all sorts of arguments except
those of logic and force. However 1defec-
tive others, views presented may have
been, one position on the part Of our enc
mics have been made Enthusiastically plain
and certain. Taliudeto the manner and
matter of their references to the tsbloated
bond-hOlders, - "bond-rings," "speculai
tors, ~ aud Ike characters. AS 1 under
stand the position of gentlemen on the
other side Of this aestieng e is to leave
the bondApIders js1gt = lieTe the are fnow,
with our dsljt due and 40 provisi6hs to pay
it, It, s6 ssi fssas q ssIssstiSn On ,oa
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 govern.
ment than against any peculiar or general
feature of the funding bill before the
House. - ...--., ..r..-5 .ss5l ss-1.f
As it is asserted by some, whose zeal has
certainly outstripped. their knowledge that
our creditors are an unworthy and undeser-
wing set of "bloated bondholders" and ring
men, it will not be out Of place, Mr.. Speak
er, to examine for a few moments and see
for 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
mineral wealth-in q word, great in the
enjoyment OF so many sources of undevel-
oped wealth, that her future actual wealth
, and accumulated population was then, as
it now is, beyond the capacity of mathe-
matics to compute. In this condition our
young State began its career-poor at the
time, but certainly rich in the years to
come. We had no capitol in which to
transact the business Of State. We had
no place in which the Legislature. the
law-making branch of the Government,
and other State officers could find shelter
from the storms, and rains and sunshine
OF Heaven, nor take refuge from the win
ter's winds and inclemencies of the wealth.
9 err. No, sir; we were out. of house and
home; we knew not where to lay our
heads as a State. We needed and were
compelled to have home for the capitol.
We had no money with which to supply
this necessary want. Our fathers, to whom
1 trust will be ascribed equal judgment,
honesty, patriotism, and ability with the
present generation, conceived and carried
into effect the policy of issuing the bonds
+ of the State, which resulted in bequeath-
ing to us this grand architectural structure
in which we are assembled to-day, and
which has honorsd us with its fame