The Pulaski citizen. [volume] (Pulaski, Tenn.) 1866-current, 1875-01-07
CONDITION OF THE COUN-
TRY.
The Cause and the Remedy
Discussed by Maj. Sykes.

blage in the Circuit Court room of the
Court House on Monday last, and chose
for his theme the "COndition of our
countryside cause and the remedy"
The Major deals in practical facts and
striking illustrations very largely, and
his frank, honest way Of talking plainly
and truthfully is refreshing to our peo-
pie. In giving a remedy for the pres
ent distressed condition of the country,
he struck the keynote to future pros
perity. Let the press and the people
take it up and make it vibrate and echo
in the Legislative halls OF the State and
Nation, as well as through the hills and
valleys of the country. The Major
spoke in substance as follows:
FeIIOt0 CitiSens Of GILES County :-Du-
ring the past summer a number of the
citizens of this county did me the honor
to request me to be a candidate for Gov
ernor of the State at the recent election.
To this request l did not make any
special response, because / had before
that time stated ia a letter which had
been published that 1 could not consent
for my name to be brought forward as
a Ee1uQAu4IC AOI JIG uOllludIlOH " Tile
Democratic State Convention. l highly
appreciated the compliment paid me by
so many of the prominent citizens of
Giles county whom had known so long
and among whom L had spent so many
pleasant days, but l then, as now, con-
sidered the harmony of the Democratic
party as of more importance than my
political elevation, or that of any other
man. / am here now to return you, in
person, my thanks and to consult and
advise with you as to the future.
Questions of grave interest are now
before the country requiring the most
calm and thoughtful consideration, and
l say now as have said before, "now
is the time in the history of our State
when every man should freely utter his
sentiments, and not leave the discussion
of political questions to protested poll
ticians only"
/ am not making an address before
you as a candidate at this time or as a
prospective candidate for any office. /
am opposed in principle 70 so much of
flee seeking, and l have declined again
and again to permit my name to be used
as a candidate because l had a repug-
nance to the means usually employed In
seeking office. 1t is not my purpose to
charge corruption or the use of corrupt
means, because do not believe this is
often the case, and in our State, hope,
never. Men who are constantly talking
about "rings" are often themselves
members of other rings; men who be-
lieve all Others to be corrupt are apt to
be themselves corrupt. But whilst / do
not believe that corrupt means are used
l think there is too much eager desire to
obtain Office for the sake of its emolu-
ments, more than for the purpose of
benefitting the country, which should
be the only motive inducing a man to
aspire to political honors.
CONDITION OF THE COUNTRY.
1t cannot be denied that these are
troublous times. There is a great scar
city of money; thousands of persons
are out of employment; the farmers
need the means to enable them to cult
Vate their farms properly, and there is
a general stagnation of business. Why
Is this and what are the remedies?
1t will not do to attribute this distress
ed condition of the country to burden
some State taxation, for ii all our State
taxes were taken off we would scarcely
feel any relief. 1t is not high State
taxation which causes our want of pros
perity, but want of prosperity makes
any taxation, no matter how light, oner-
pay taxes without feeling them, but
people who are not prosperous are OPP
pressed with even small taxes.
THE STATE DEBT OF TENNESSEE
is much larger than it would have been
had there been wise legislation even
since the war. The debt contracted be-
tween 1865 and 1869, the legality of
which many doubted, is the main cause
of our present financial difficulties.
That debt however has, by the legisla-
ton of 1869 and 1870, been legalized
and most of it is paid, leaving as our
present debt that which was contracted
fairly and legitimately before the war
with its accumulated interest. At the
last session of the Legislature an Act
was passed known rs the
FUNDING ACT
for the purpose of arranging our debt.
When that Act was proposed the coun-
try was in a much more prosperous
condition than IL now is, and in deter
mining the wisdom of a measure, we
must look at the condition of things
then existing, and not form an opinion
from the present state of affairs. That
Act, much as it has been misunderstood
and abused actually decreased the debt
of the State 1922, 5S2: 81 up to the LIST of
which had been due for years were le-
gaily bearing interest from the time
they were due and would have contin-
timed to bear it, until they were paid.
The Funding Act cut off this interest
and in having their bonds and coupons
funded the holders of the bonds agreed
TO this saving on the part of the State.
The obligation was as great to pay the
bonds and coupons with their interest
before as since they were funded. 1
shall not undertake to defend ali the de-
tails of that measure or to say whether
a more satisfactory one might not have
been adopted and which would have
equally as well restored the credit of the
State then at very low ebb.
IMPORTANCE OF STATE CREDIT.
No man In the State who had no in
terest either direct or indirect in bonds
has felt more solicitude for the preser-
walton of State credit than | have, for
have considered "character, financial
character as the jewel of a State, and as
the test of her prosperity. 1t is as dear
and as valuable TO her citizens as the
character OF a man is to his children.
The few dollars that might be saved by
refusing to meet the obligations of the
State, would be far more than lost by
the depreciation of the individual credit
of her citizens. This loss they would
feel In everything they had TO buy, and
In everything they had to SELF
/ here take occasion to say that do
not believe the charges which have been
so freely made that the bOndholders
used money to procure the passage of
the Funding Bill by corrupting mem
bers of the last Legislature. l say this
because no man has been able TO sus-
tain these charges, and it is unfair and
unjust to make charges which there is
no preOf to sustain.
MORAL OBLIGATION OF A STATE.
/ will here also say that do not be-
lieve State any more than an individ-
ual has the moral right to foul or refuse
to meet its obligations In order to de-
stroy its credit and thereby depreciate