Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-10-29


evening, Peyton ]. Smith, the Demo-
cratic nominee for FlOaterial Senator
from Shelby, Fayette and Upton, re-
viewed in extenso the record Of his In
dependent antagonist, Emerson Ether
idge. He showed that while Etheridge
is now q repudiator, in 1870 he voted
for series of resolutions, pledging the
entire revenues of the State to the pay
ing Of not only the interest but the
principal as well of the bonds of the
State. Reyerting to the Senate Jour-
nal, 1S69-7O. page AZ, we find the fol-
lowing proceedings:
Senate joint resolution No. 8, viz:
Whereas, reckless extravaganza on
the part Of those who have heretofore
controlled the State Government, in
pledging the public faith by the lssu-
ance Of State bonds, has tended greatly
to impair the public credit and impart
distIust to the minds of many as to the
ultimate payment of our public debt;
and
Whereas, people who, in all their
history, have shown a ,scrupulous fidel-
ity, commercially and otherwise, to
private obligations, must consider JUS
tiee to all public creditors as essential
to the honor and dignity of the State;
therefore, 81 fFfaa
Be 1t resolved by the General As
sembly of the State of Tennessee, That
the people of Tennessee viii not sig
nalize their restoration to the control
of public affairs by sanctioning, in any
manner, indifference to public obiga-
tions.
Resolved, That expedieney, together
with the honor and good faith OF the
State, demand that the interest on the
public debt be paid at the earliest prac.
tieabie moment, and its principal Sc
curely provided for at maturity. And
TO these ends, under careful retrench-
ment and rigid economy, in all other
respects, the entire dUGiIable reUeRUes and
resources of the State should be faith
fully applied, as they in honor are
pledged.
Mr. Nelson moved to strike out
reckless extravaganza" and insert
previous legislation" which was ac-
cepted by the introducer.
EThe resolution was then passed.
We find Emerson Etheridge support
ing by his vote the wholesale pledge of
the entire available resources" of the
State, as well as its revenues" Sell
the State-house, sell the Lunatic and
Blind Asylums, sell the Penitentiary,
and all, if need be, TO pay the bond
iolders. This is the meaning of "re-
sources" 1t will be noted that these
resolutions had direct bearing on the
Brownlow bonds, and this was the mi
tial step in fastening them upon the
people. The Legislature of lS69-70
was the first in which the people had
voice, and then was the time for Mr..
Etheridge to have spoken out in their
behalf. Instead of so doing, be joins
in pledging the entire available reven-
ues and resources of the State In pay
ing both principal and interest on the
Browrlow bonds. The House made a
feeble effort to remedy this blunder by
adding the following amendment to the
resolution:
Provided: That this resolution shall
not be construed as apledge Orpromise
on the part Of the State government to
pay any of said debts unless there ex-
lists legal and equitable obligation so
to do.
Thus amended, the resolutions final
ly passed the Senate by the following
very close vote:
kyes-Messrs. Clomentson, Cub
bins, Etheridge, Faulkner, Greene,
Luttrell, Millsaps, Morris, Palmer,
Peyton, Self, and Mr.. Speaker Thomas
IL.
Nees-Messrs. Cason, Cooper, of Da-
wilson, Eason, Hall, Hart, Halves,
Martin, McFall, Nelson, Pearson and
SlaughJer-1l.
1t thus appears that the one vote of
Emerson Etheridge could have defeat
ed this first pledge for the Brownlow
bonds, by a Legislature representing
the people. Now the same Etheridge
would not pay even the interest on old
ante bellum bonds. What are the
pledges OF such a politician worth to
any man or any party: