Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1873-04-01
throughout every State of the American

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l of inter-communication among ourselves.
the different portions of the State and the
outside world, and transportation for our
commercial comn1oitdies must vb8i had by
some action or other, and onr9 fathers, for
whose memory THRUST we still have q lin
gering respect, resorted to the issuance and
sale Of State bonds, in order to construct q
railroad system by which our greatness as
q State could be developed and enjoyed by
of Tennessee. And here let me ask those
who would refuse to recognize and provide
for the payment of the interest on these
bonds, what would be our condition if the
magnificent system Of railways that now
link Us together in all the various 1direc-
tions and sections of the State was taken
from us and the old order of things restor-
ed !? What would be- our relative wealth
and prospects for the future What would
become Of our trade and commerce? Wehre
would stand onr grand centres, like Knox
vile, Chattanooga Nashville, Memphis
| and other like prosperous towns and cities?
Instead of the prosperity in which they
aIe now immersed and the thrifty popula-
ton they possess, the forest and the cane
brake would cover the place in silence
| where they stand. Yes, gentlemen, it
was the "bloated bondholders" whose
money built your railroads, and may
add, turnpikes, by which the State is bless
ed with the avenues Of trade and CON.
meroe, and crowned with the prosperity
| which we see smiling around us wherever
we may go throughout the borders of the
! State. And again, it was by the money of
| the so-called 'bloated bond-holder,n that
your Asylums and State Institutions for
| the unfortunate blind. deaf and dumb, and
| insane, were constructed and built up, as
SO many monuments to the God-like
character of the authors of the plan
| those in whose minds and hearts the grand
purpose was resolved. tltj,'*il h.lN, - /
appeal to you, the members of this
House, to reflect for what noble purposes
this debt was contracted before you refuse
to meet the interest and dispose of tie
principal, in some equitable manner. And
| here, lest / forget it in the future of my
remarks, let me ask the members in thi s
House, what would have been the result,
If, when we were poor, had no money !,
and wanted to borrow, we had started tn 8
agents of the State out to sell our bonds
and procure the needed supply of money.
with the speech from the gentleman from
Upton tMr. Cummins, in one hand dis
playing his invective against the "bloated-
bond-holders, with all his nervous powers
of denunciation, and Q proposal to sell
these very men our bonds in the other ]
repeat, and press this question, what would
have been the result; and how much
money wouldthey have gotten? tSuppose the
men who came to our relief, and furnished
money to supply our demand, and thus
lifted us from distress, had been notified in
advance that when their interest should
accumulate, and their bonds fall due, and
they should magnanimOusly come forward
and say, that owing to our financial mis-
fortunes they should not exact payment,
but simply ask that the obligation be re-
newed, there be q party headed by the
gentleman from Upton Mr.. Cummins,)
|denOuncing them as sharks, and thieves,
and "bloated bond-holders,D and declin-
ing to even recognize their right to the or
binary rules of commercial dealings, and a
renewal OF the bonds and accumulated in
terest by forty years extension of their
claim against the State in funded bond.
/ say, if this notice had accompanied
the offer to borrow, how much money
could the State have raised? Tgnagssa 4ss
If the men from whom we had secured
this money, had been advised of the treat
ment in store for them, where would be
your Capitol? Your Railroad system
Your Insane Asylums? Your Deaf and
opposes the payment Of these bonds, and
interest as it becomes due, is policy worse
than that which would oppose sending the
Gospel to the heathen-it is much worse.
In the one case moral obligation only
exists! In the other, both moral aud
legal obligation exists. The policy,
Mr.. Speaker, that would refuse
to fund debt contracted for such
grand projects and holy purposes, would
result in opening the doors of your
asylums for the unfortunate SONS and
daughters of Tennessee, and then turn
them out to brook the cold charities of the
world! But the cry of "bond holders and
"bond rings" has been so repeatedly and
earnestly made, as to almost brighten the
friends Of the bill, If they can be frighten.
ed by that kind Of defamation! The en-
emies of the funding policy have studied
the matter of bonds and bond holders so
closely, that they seem to have taken q
kind Of financial nightmare, and while la
ward bond holders somewhat like the Tex
an herdsmen whose cattle were about to
perish for salt, and hurrying by stage to
save the lifeof his herd, fell in company
with number of clergymen. 'Slumber-
ing and dreaming along, he happened to
rouse up just as the clergymen were con-
Guiding conversation about Lots Wife,
and caught but the single remark, that
there she stands pillar Of Sdh.n 1t was
ton of his famishing and thirsty cattle
convulsed his mind, as he exclaimed ooh,
if my cattle were there they would lick
her up in a minute.''S -
So our opponents have-but to catch a
single sound, and they 60 almost into
spasms-they take the Jerks" and sex-
claim ''Bond-holders ring and the like
expressions. The gentleman from Upton,
(Afr. Cummins) said "pass this bill and let
the bond-ring unload .7l.yss. n
! Now, have no doubt but that there is a
"bond-ring," and it matters but little with
me how much they make, or what they
do, so long as can rise above their influ- 1
ence and act for the best interest of my con-
stituents and the people of the State. But,
might not the friends of the bill retort by
saying reject this bill, and let the "Rail-
road Ring" riot in,the exclusive luxury of
making gain through the misfortunes, and
depreciation of the credit of the State.
That there are those who will profit by the
passage of this bill have no doubt. That.
there are those who will profit BY it if it is
rejected, there is and can be as little doubt j