The Bolivar bulletin. [volume] (Bolivar, Hardeman County, Tenn.) 1865-1888, 1874-10-16
Knock-DOwn Arguments.

The Democratic Executive Committee
of the State have issued an address from
hich we gather some interesting facts
nd arguments conclusive why the State
government should DO retained in DEM
oeratic hands and every radical, who is
now asking position at the hands of the
people, should be defeated in November.
From the address we learn that accord
ing to the Report of Ccmpt- Hatchet the
State debt on the first of October, 1865,
was S25, 277, 406
Under radical rule this debt was in
creased in about FIVE years sl8,678.246
so that on the first of January 1870 it
amounted to s43, 955, 652 Says the adj
dress:
This increase took place, although no
Important railroads except the Nashville
and Northwestern we're built during
that time, and even this was commenced
and much work done on it before that
time, and it was left in very bad condi-
ton, almost worthless, as the reports of
its operations show.
Notwithstanding this large increase in
the debt q considerable amount Of money
was paid into the Treasury each year.
IS67...................... .$Sl8,g72 A
1868 1900. .............. $3.50 Il
ACKNOWLEDGEMENTS. i5U Zo4 90
See Comptroller BIackburn's report
1866, page 60 1869 pag' and II
The amount Of the debt on the first Of
a pril, 1874, was 81, 92U366, showing n
rrducti' since frat of January, 1870, of
sl6,O72.2 66, beside paying large floating
debt OF the debt now existing Sc $685.
525 are secured by solvent assets. leaV-
ing only $20,08U,S 57 30 be provided Tor.
How was this reduction brouFht about
BY the sale of insoIvent and almost
worthless railroads the debt was greatly
reduced. These roads had been Il source
of expense to the State, and had assisted
greatly in increasing the debt The rails
roads which have been sold brought,
and are to bring, into the Treasury So
SOS 600, which is at least twenty FIVE
per cent. more than they could n, be
sold for if you take away the expendi-
lures made on them by the companies
purchasing them The sale OF these
roads was made under the supervision Of
Francis B. Fogg, K }. Mckinney and A.
Wright, three Ct the at lest and purest
men in the 5 ate, whose characters are
made more bright by the attacks made
upon them by such zen as Horace May
nard.
it is true Mr. Pennebaker in his re-
port estimated these iBsolvent roads ~
Sl0,94O,00O, but the actu,l sales and the
proof showed that his estimates were err
roneous by more than three millions of
dollars. The funding bill passed at the
last session of the Legislature did not al
low interest upon past due bonds as did
those passed during MIR. Brownlows's adj
ministratiOn.
As to the Funding Bill which Maynard
abuses so heartily as a democratic meas
ure it is shown from the record that OF
seven Republicans in the Senate voted
for it and 3 agaiAstit. Ia the House of
26 Republicans voting, is voted for it
and against it. Democratic measure
indeed
Note also the following
Wherever the Republicans have con-
troll of State Governments in the SOut'I
they destroy the credit of he State By in
cIrring n .rmous debts, aud imposif z
burdens me t It on. In Southern Re.
publican States the rate OF taxation is as
fOlloyrs