Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-03-27

our protest entered on the House journal,
in pursuance as we think Of a well defined
constitutional right, which isin these words,
viz:
aAly member of either House Of the
General Assembly, shall haye'liberty to dis
sent from, and protest against any act or
resolve which he may think Injurious to the
public. or to any individual, and to have the
reasons for bis dissent entered on the jour-
nsl.r
This poor privilege was denied us by the
following vote: 26 against, 6 for, and % not
voting; among those not voting were the
signeTs of the protest. They refused to
vote, as they did not wish to array them
selves against those from whom they asked
a favor, that had never ceen denied to any
one during the present session. And they
wished further to ascertain whether thefor-
mer programme would be carried out.
THE PROTEST. - rr
MIR. Speaker-We the undersigned, mem
bers of the House of the General Assemb'
" of the State of Tennessee, ask most re-
spectfully the privilege Of entering our SOL
emn protest against the passage of "Senate
bill No. 211, entitled an act to fund the past
due bonds and coupons OF the State, and
to sustain the credit thereof"
We protest not only against the passage
of the b1l, but the manner in which it
While we recognize in parliamentary law
the right to call and sustain "the previous
question" which is known and styled in
the QUART language of the day, ''the gag
law of msjorities," when intended in good
faith TO put an end TO useless discussion;
yet when it has the effect, as it did in this
case, to suppress facts, instead of making
them manifest in argument; and when
used as in this case, by anose-counted major
ity, not to save time, but to prevent enlight-
ened discussion, it at once becomes to be
not only an odious feature in legislation, but
a breeder of discord, which may unforCu-
nately run through and poison the subse-
quent proceedings of the body. Especially
will this be true, as in this case, when the
majority deliberately muzzles the minority,
on a subject Of deep and vital interest TO
the people Of this Commonwealth.
Such course alienates the members, and
often creates breach, which for the time
stands in the way of concert of action upon
minor points, and msy ultimately destroy
that harmony of feeling, and unanimity of
purpose from which wise legislation alone
can be expected.
In that spirit of forbearance, and with a
becoming Charity for the errors and mis-
takes in others to which we are liable, we
desire to briefly recount the fundamental
objections to the bill in question:
l. Its friends, as we believe, have delu-
ded members on this floor by misrepresent-
ing the true grounds occupied by its enc
mics. IL has been insisted TOO that the
converse Of the funding proposition is repu-
diation. This zoe deny. We insist that the
question at issue Is not, as some insist:
Shall lce pay the State debt or noR but it is:
HolU shall zee pay i7 Debate was cut of,
ed, hence this our protest.
2. 1t seems to be sort of force bill, or Co
ercive measure, the legitimate end Of which
is thought to be the adoption of another
assessment law, and another revenue law,
whether the people want them or not. We
insist that the funding scheme should fol-
low the adoption of the assessment and
revenue laws, and not uice uerSd, as the
matter now stands.
8. If the purpose was not to force the
adoption of two other acts by putting this
through under whip and spur, then we
protest against the funding scheme as a
reckless adventure, because it is renewal
of our State obligations without the means,
either in hand or in sight, to comply with
the promise.
4. In the heat of debate extreme views
were assumed, and the measure carried by
a total misunderstanding as to the amount
of money actually needed to meet the de-
mands.
5. To declare fer funding without the
means to meet the interest in future, and
to pay the current expenses of the State
Government, is, as we verify believe,
wong in principle, and in its operations
the effect will be to present a fraudulent
device (though not Intentionally, by en-
aiding the present bondholders, who ar
apprised of the situation, to unload at high
figures while the tide serves; and those
who have agreed to deliver to the State her
bonds, or who have the option of doing so
in payments of debts now or hereafter due,
will be enabled to buy the bonds at low
figures. In other words to fund and then
fail to comply with the renewed obligations
will have bad effect, inasmuch as bonds
will advance for a time, and then fall below
what they are now.
The funding bill, as passed, has two ar
bitrary provisions which demand special
mention, viz:
l. On about five millions of bonds, that
bear five, and some five and one-fourth per
cent. interest, By contract, the interest is
increased to six per cent. t1ithOut consider
alton.
2. The sum which the holders
of the bonds are required to pay in
order to bring themselves within the pro-
visions of the law, to the outside world,
has the appearance Of reputation; or,
what is worse, Legislative black-mail" for
the benefit of the State. And what thus
appears must be considered real, unless the
funding scheme is in the interest Of the
bondholders alone, who have agreed to pay
that sum (Which amounts to many thou
sands) as bonus for the benefit of the bill.
Believing that the figures presented by
the advocates Of the bill, on the basis OF
our interest bearing debt of about $50, 000,-
900 were erroneous and wrong, by nearly
$4,000, 600, and believing that this reckless
mistake resulted from failure to closely
analyze the Comptroller's Report, 3 portion
of TIE undersigned addressed note TO DIR.
Morrow, State Treasurer, for tbs purpose
of getting an authentic certificate Of facts,
and they hereunto sppend bis reply and
statement:
STATE OF TENNESSEE, HOUSE OF Re-
PERSONALITIES, NASHVILLE, March Is,
1873.-Dr. VIM. Morrow, state Treasurer,
Nashville, Tenn.-Dear Sir: In view Of
the provisions of the Funding Bill recently
enacted DV the thirty eighth General As
sembly of Tennessee;
And in view of the entire assets and entire
liabilities of the State at present, you will
do us kindness by giving us such a state
ment of facts and figures as will enacle
us to see what amount of revenue will be
required to meet our present liabilities and
obligations, and in order to get the amount
required what amount of State tax will
have to be levied on the 500 worth of tax
able property. Respectfully, yours;
II. r. MOORE,
A. B. HAYNES,
JNo. OvERToN, JR.
j. H. JAMESON.
TREAsURERs OFFICE, NASHVILLE,
TENN, March 20, 1673:-Hons. 81. 4.
Moore, A. B. Haynes, and others, House
Reps Sirs: In response TO yours OF the