Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1874-11-14

of Memphis. What are our troubles?
One man says our usury law, fixing the
conventional rate of interest at ten per
cent, is wrong, and drives money from
US. / don't believe it. Every State and
country, so far as | know, has q usury
law (only few exceptions, if any, and
it has been considered wise from the be-
ginning. This State once prospered
having a usury law; other States have
prospered, and are now prOsparing, hav-
ing usury laws. I think there is not
enough currency in circulation to carry
on the commerce of the country, and
Tennessee, with other States, suffers for
want of money. But you would hardly
he patient were to branch Off on this.
There are some preventives which the
nextlegislature should apply that we may
get along better in future. Talk about
the funding bill! 1t is In operation
passed. All the legislature has to do is
to say, "Wait, MessTs. BOndholders, IN.
I'll we get little ahead" and they wait.
II we can't rub out the debt, or II we can,
one thing we can and ought to do-psy
no more debts, and create no more
debts, by Issuing bonds. Let railrt ads
build themselves with other means than
State, county and city bonds. We ought
amount as will pay the expenses Of the
government, economically administered,
and leave 3 little over. Do this, and cut
OF the expense Of about one-hslf the Of
fees, and Tennessee as q State will pros
per. Prohibit Shelby county and Mem
phis from issuing bonds and other evil
dences of debt, fix the tax rate as above
indicated, and Memphis and Shelby
county will prosper. If we would make |
one government for Memphis and the |
county in which it is situated, so much |
the better. 1t Is nonsense to talk about |
getting out of debt, and prosperity, !
whilst there are twice too many offices, |
and several times too much eXtFava-
gance In keeping up those we need and |
must have, and in aid of any private en- |
terprise. A few hundred thousand dol |
lars in bonds can be so easily issued, |
and justified by saying it is for the pub
lie good! II railroad or any other en-
teTprise is necessary and will be prOfita- /
BILE when built, there is always enough |
capital in private pockets to 'put it !
through" Put a stop to these things !
and we viii begin to prosper. Y.
Evolution and Revelation.
EDITORS APPEAL-If Herbert Spen-
GERS doctrine OF evolution and progress
is true, We may regard every great
change and revolution, whether in So
ciety or nature, as only forward steps to-
ward better order of things. Perhaps
it Is wiser 10 regard great political
changes in this view than to grow wild |
with exultstion in expectation OF an i'm
mediate millennium, or, on the otner
hand, to drOOp with dependency and
tremble with fears that "chaOs is come
again" In any event, We are not pre-
Guided from examining the causes and
the proXimate agencies which have
the recent great change. l do
not propose to discuss all of these, but I
insist that the significance of the Liber-
Al Republican movement, two years ago,
shall not now be overlooked. Then,
some of the bravest, most honest and
most intellectual leaders OF the Republic
Fan party pointed out the direction in
which it was drifting. They denounced
is departure from the principles on
which it was founded, and which had
given it vitality and force. They ex-
pose its cOrruptlons and abuses. They
the perpetrators Of these fear
essly, whether arTayed in rags or pur-
pie. They appealed TO the country.
They were Ostracised and eXecrated by
heir own party; and they had been so
Ormidable in opposition TO the other
party, that old prejudices were too pow 1
,rful for them TO win cordial support, or
o De regarded without distrust. Yetall
he elements were aroused, and all the
agencies set in motion in 1872 which
lave shown themselves so potent =
n the results of 1874. Greeley, Sumner,
Schurz, TTumbull and Banks exposed
3rant's unftness for the executive office,
md the country half believed them; =
vat then they decided $50 besr those
wills we have" rather than ''fy to others
hat we know not Of" Yet party fealty t
eased to be the sacred thing which 5
mall and fierce politicians had made it. 3
and indifference became Il
Owerful against party. So the seed of !
Y grew to beautiful harvest in IA. n
The Liberal Republicans held the bal
nee of power in New York, and Mr..
ilden does not hesitate to thank them =
Or his election. Greeley dead was more c
Mighty than Greeley living. The great d,
hade of Sumner stSlked unayenged in "
Massachusetts,, and his State could not
e satisfied with expunging the resOlu- q
ions Of censure. They have almost ex-
unged the faintest trace Of Grantism.
'anks, who "stOOd up so erectn when y
g was speaker that she almost leaned =
ver," has been put upon his feet with "
n emphasis which shows that the erect
osture is coming into favor again. So
might multiply instances, but you
ave no room for an essay, and these J,
ints are enough to invite attention to r
le point wish to make. Some jour.
ais have been disposed to apologize for d
hat they call the mistake of 1872 with T
ut discovering that they then took the
rst step toward the goal they have 6,
'ached in 1874, There never was put
nth platform of any political party
Iual to that of Cincinnati. The Demo- a.
attic party never did wiser thing u
ian adopting it at Baltimore. They
9clarsd themselves sincere then, and
D one has been authorized to announce
Ieir subsequent apostaey. c,
TTREHlT