The Waco daily examiner. [volume] (Waco, Tex.) 187?-1888, 1874-04-02

'tN"hy ~hiJ hO "i6he Ao's
skuIked behind the decision oil th.
Senate, but he hal boldly said then
decision was wise, and the speaker
said his shoulders were broad enough
to bear the censure. 1t had been
SAID that he would stink in the nos-
.rils Of the people, but in a life OF
twenty.three years among the people
Of Texas, the spirit OF oalumny
mad been able to invent moth
ing against his name, and
ae would live in the memory of he'
people when his traducers had been
.orgotten. Great applause. That
ne fnancisl consideration was y
fave one was apparent. He islt
sure there was nothing like an accu.
tate idea generally Of the fnan
olal condilion. There was general
IDEA that the State was in debt. l,
was iound that she was deeply in deb,
,nat her Warrants were selling
o5 cents ON the dollar. There was
tne Democratic platform denuuc
alton OF those who charged Tex,
with repudialion, YET every time Sit
paid to The public creditor her War
rauts below par, she was repudiatias.
He believed instead OF two and b
,ali per cent, lhS Lax TO meet th.
'".s,anuihs debt and curren. ,Xpen-
,es would nave TO be three OF lou
.'er cent. but The party was ais
piedged virtually not to increas,
,axation. Hence the money must b,
'aised by the sale OF bonds; prpb.bl,
about two millions of dollars. He
dndersLood that there had been ad.
vices rom high authority on none
AIRY affairs thai these bonds could
aot bs sold Tor any thing like their
Va Iue; probably not more than 25
,.sr cent. if convt 1tion was called
because capital was provsrblaliy Y
umid, and persons abroad coulc
not be assured of what a con.
venlion might do. So lar as the )
know, Il constitution might repudlsle
tne bonds, and whatever might be
.heir rights as innocent holders, the '
would not be disposed TO make
Investments where there was any
probability OF legal contests. a
Convention was the sovereignty
aud could do anything but disturb
vested rights, and could even Try t.
do that as vas shown by the actor
ot that OF 1869, which repudiated the
!aud grants 10 railroads. This was
the view taken oil the financial ques.
by Gov. Coke, and others familiar
with the facts whose judgment hs
respected. The actual case OF the
per diem aud contingent e Expenses .
| Convention was inconsld crab e, bu
ii the tax payers should get only q
nalf million of dollars for an eApeu
diture of two millions in bonds, !
would be considerable The speake
neld that these were grave consider
atoms and such ~, whatever nigh
ne the diff reLce of opinion, shout
exempt the mrmsrrs from censure
His conf irnce in them was undated
perhaps. ey Iitfred h D,m 10 ln.u
Llngs, Dat 80 l,ns ~ tn y ,h"w.
desire To ac, tor The interest OF lhei
constituents he woull not censnl,
hrm be accorded to them correc
motives In their action, whomsoeve.
might condemn them, and he believe,
shat the people would do the same
Several Other points of an equally
pertinent nature were made, und tn,
Npeech, - a whole, was, to our MUD
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~ ainst the proposed resolutions Of
censu e, out noble and comp et.
vindication Of the policy that had
ben pursued. But, though loudly
applauhed IN several parts, he speech
failed OF its obj-ct. 80 far as ,hii
meeting was concerned, it being man,
test, from The first, that the "meeliue
vas organlz d TO censure," aud thsr
the resolutions would pass, though
AZ Mr.. Saunders said In his speech
one should rise from the dead to vim.
dioate the course of those who had
voted against Constitutional Con
vention.
On the reading of the resolutions +
motion was immedi rtely msds thai
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