Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1874-12-05


pay our State debt. This argument, j
argument it may be called, would apply
as well to private as 70 public debts. In
fact il amounts to this, that II man
( contracts debts and aftsrward loses an
expectedly portion OF his property he
is not bound to pay his debts. FOR .
/ State to refuse to pay her debts in order
I that she may dspreciate the value Oi
! them with a view Of buying them at re-
dueed rates is as dishonest as for an in
! dividual to do the same thing. These
4 doctrines would lead 10 a destruction oi
all individual as well as State credit,
and would operate most disastTously
upon the business interests Of the coun-
| try. Wherever such doctrines meet
with popular favor, there neither
| capital nor immigration viii ever
come, for it will be said that
people who are insensible to pub
/ lie obligations viii be eventually 80
/ to private obligations. 1t is sometimes
said that we are paying compound in
! terest. To pay compound interest is to
renew every year. All that the funding
act requires, is that when q bond is due
and we are unable to pay it, we may re-
new for forty years, If we wish, by pay
ing six per cent. Interest. Is not this
fair, II we have any disposition to pay
according to the contract A man who
cannot pay his note at maturity is will
ing 10 renew for a number Of years and
pay six per cent. interest, and consider
this accommodation. The interest can
be stopped aI any moment by the pay
ment Of the principal. Phere is not a
debtor in the State who would not be
willing to get such terms as the State
got in the funding bill, and consider
himself greatly relieved thereby. Ii is
sometimes said that under the funding
act fraudulent boz ds may be funded,
aud thereby foisted upon the State. So
far from this being the case the act pro.
vides that ''the provisions OF this act
shall not embrace, but shall exclude,
any and all bonds known to have been
stolen or purlOined from the State, or
bonds which have been fTaudulently
issued or obtained. A great deal of the
opposition to this act ia from not under
standing its provisions, and me of it
arises from y desire not TO pay the debt
of the State. A great responsibility now
rests upon the Democratic party of the
State, and upon the next legislature,
which represents that party. The DEM
Ocrats have now carried most of the
northern States, upon the suppOsition
that the Democratic party in the south,
as a party, intends to pre- eserve good faith
and is determined 10 maintain State and
national credit. If it should turn out
that the Democratic party were pracH-
eally Unsound on this question, which
we cannot believe, and should permit
the credit Of the State to sink in its
hands, nothing would tend more to par
alyze the efforts of our friends in the
northern States and 10 strengthen the
Republican party in these States, for
nothing is more sure than that no party
which advocates or sanctions repudia-
ton can ever get control OF this govern
ment. Governor Browns course on this
question, as well as on other questions,
has done much toward securing the bril-
liant victories gained by the northern
Democrats in the recent elections.
PENITENTIARY LEASE.
In regard to the penitantiary lease
only a few words are necessary. Wheth-
er the present system of penitentiary
management is the best that can be de-
vised, is not the question now to be dis
cussed. Governor Browns sdminislra-
ton has made better arrangement in
ever before made. The penitentiary had
from its commencement bsen a source
Of expense to the State. As early as
1858, Governor Johnson, in his first
message, said in regard 20 it,: "UpOn a
close examination of sll the items prop
erly chargeable to that institution, after
giving full credit for all that it is entitled
to, there will be found a deficit of not
a q HaFg
probably much more. Il will take but
little investigation Of this subject to sat
isfy any reasonable mind that the peni-
tentiary system exerts no beneficial in
fiuence on society, either in OF out Of the
penitentiaTy, and that it is now and
has been an incubus on the treasury and
will likely so continue, unless the whole
establishment undergOes a Thorough
change" Whilst the Republicans
had control of the State government,
this institution cost the state on an
average STA 600 per annum. It is true
the inspectors at one time reported
profit of S93 900 but on an examination
by a committee of the legislature, it
was found that after making all the
proper charges, that there was a def
cheney Of $50, OIL 9S. These same iu-
spectors leased the penItentiary at S53,
600 per annum, which lease was APP
proved by the governor and sanctioned
by the legislature. Itis true that after
the subject had been discussed for more
than a week, a proposition was sent to
the Legislature through Mr.. n. Vaughn,
from Davidson county,
offering $4,000 more per annum than
what had been agreed upon, but Mr.
Vaughn, when asked if he could and
would vouch for the solvency Of the
parties making the proposition, he said
he could and would not, and he, him.
SELF, voted against the motion to post
pone the consideration Of the subject
for q week, and then voted to confirm
the lease, with all the facts before him.
There are now fewer convicts, in proper
ton to the number in the penitentiary,
engaged in mechanical pursuits than
ever before. That Governor Browns
has made q better dispO-
sition of the penitentiaTy than ever had
been made, cannot admit Of a doubt,
and this is saying a great deal.
AND ITS SUPPRESSION.
Fewer outrages have been committed
during the last four years than during
any four years since the war. When |
the agitation of the civil rights bill had |
nfiamed the minds of the negroes SO as |
to make them use such language and be |
guilty OF such acts as excited some |
white men so as to cause them to COM |
NIT violence, Governor Brown pursued /
such a determined and energetic course |
As not only to command the admiration |
Of his party friends, but the applause of |
Senator BrownlOW and the approval of |
President Grant, as appears by the fol- |
Owing extract from his official letter:
al will state, however, that it is very |
gratifying to know that the State au-
-horiues of Tennessee are disposed to |
and punish a class of lawless
acts so dangerous to life, and so opposed |
10 every polit cal, financial and moral |
interest of the State"
This conduct on the part of Governor |
Brown did much to restore confidence /
10 the northern States, anu to turn back |
he tide which was setting so strongly |
against US for few weeks after the af- /
'air at Trenton. The State Of Tennes-
zee and the whole south owe a debt Of |
gratitude to Governor Brown for his /
prompt, decided and fearless action at |
hat time.
AGRICULTURAL BUREAU.
During this administration the bureau
lf agriculture has been established with |
he warm approval of Governor Brown.
The amount of good that has been done
Oy that bureau and its able and efficient |
secretary cannot be fully known in
many, many years. Never was money
more wisely expended than in the es-
of this bureau, and il is an
honor TO any administration for its es-
.abIishment to have taken place
whilst it was in power.
THE FREE SCHOOL SYSTEM
)wes its existence to the present Demo-
;Fatic administration, and nothing can
,verurn it but the passage Of the civil
lights bill