Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-07-13
OUR JULY DEFAULT.
The State Press on It's Cause
and Remedy.
An Extra Session Not Deemed
Advisable.
Chattanooga Times. July II.

Chattanooga Times, July II,
A special session Of the present Leg
islature would be the very thing 10
make confusion worse confounded, and
to make our attitude not only disgrace
full but ridiculous. No special session,
if you please.
Memphis Appeal, July II.
What we censure the Legislature for
is that, when 1t suspended the cOllec-
tion of taxes. it made 10 arrangements
to provide for the interest falling due
in July, either by paying it or by au-
thoriHng the Governor To renew It tur
a limited time. The discussions IN the
Legislature and the votes taken III the
House Of Representative indicated a
disposition not to pay the State debt,
and this is.what has caused the State
to be discredited and Inundated IN the
ewes Of the world. We must maintain
our State credit, and the party OF the
Legislature that fails to do SO cannot
command public confidence, and will
not be permitted by an enlightened
public opinion to govern the destinies
Of IA noble State.
Knoxville Chronicle lRep}.
With the lights before rs, we see no
good reason for such a session. The
fact that the Comptroller made an
effort to borrow the money, shows that
he believes he has the authority to do
so. The only reason We have heard
given why he did not borrow 1t Is that
the rate Of interest demanded was cx-
orbitant. A full statement Of all the
causes which led tp the failure would
be IN order, and after such statement
is made, then it would appear whether
or not there is any necessity for IN
extra session Of the Legislature.
In this connection we Will observe,
that while the Democratic party of the
State is in every way responsible for
the failure or success Of our financial
system, we have no desire 10 discuss
this question now as a partisan. 1t IS
one that so vitality affects the credit Of
our commonwealth, that It should be
placed on higher grounds 1t IS a
question Of State pride, IN which all
are interested, whether Republicans or
Democrats, and all good men will re-
ioice to see the problem solved, without
regard to the political effect Of such so
luton.
knoxville Press and Herald.
We're it even probable that the re-
assembling of the Legislature would
result in any legislation favorable TO
the restoration Of the credit Of the
State. there seems TO be really no ne
cessity for such a costly remedy. While
we have never Joined in the fashionable
outcry against the present Legislature
Of the State, for the reason that we
have not believed it deserved the Indls-
criminate maledictiOn that has been
heaped upon it, we think we know
enough of its irrecOncIlable differ
ences on the subject Of State finances
to render It morally certain that any
attempt now to harmonic 1t upon a
measure having for its object the pay
ment of the interest upon the pubhc
debt. would result in as signal a failure
as before. IL was only through the I'M
practicability Of securing "a constltu-
iiopal majority Of the body upon any
affirmative financial proposition, that
fbe former levy Of forty cents tax
was retained. No other figure could be
agreed upon, and hence there was no
repeal of the act Of 1873. That body
so discordant IN financial views would