Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-02-14
NASHVILLE.
Proceedings Of the Legislature Yester'
day-Mempsis Branch OF the Pa
cIfic RailrOad-B lls Passed.

, ctnc haltFOau-D ID lis Easseus
The State Deb PlObiem-The Senate
Compromise = Views in Both
HOases parliamentary
Faelics.
Special to the Appeal
NASHVILLE, February lS.-By Mr..
Wilson: A resolution appointing q
committee to inquire into the reasons
for the delay in printing the supreme
court decisions. Adopted. By Mr..
Hodges: A resolution to appoint a sub
committee of the joint committee on
penitentiary and public grounds and
charitable institutions to visit branch
prisons. Adopted. By Mr.. Haynes:
A resolution instructing our senators
and representatives in congress to Sc
cure branch OF the Texas and Pacific
railroad from Shreveport to Memphis.
Adopted. New bills: By MI. Boyd:
To repeal the act authorizing the erec-
ton of hespitals for the insane in
East and Weatse Tennessee. BY
| Mr.. Turley. TIC pfc side for a reduc'
ton of the interest and the pay
ment of the public debt. The bill
provides for the issuance of new bonds
at par for State bonds now out, but clear
OF accrued interest. Ordered printed.
By Mr.. Jordan: To regulate the number
] of guards allowed sheriffs transporting
prisoners. By Mr.. Blizzard: For the
benefit Of persons holding land grants
or deeds to land in the Ocoee district.
By Mr.. Boyd: To prevent insurance
agents from soliciting risks without first
procuring a certificate from the secre-
tary of state. By Mr.. Polk: To author
ize Hardeman county to build Jail,
and the issuance Of bonds for that pur-
pose. The house bill to prohibit county
or municipal corporations from aiding
private or public corporations passed
| first reading. Senate bills on third
reading: To amend the law with regard
| to the property of married women. Az
Ter discussion it was referred to a special
committee of five. To protect landlords
in supplies furnished tenants. Passed.
To prohibit the buying and selling of
offices. Passed. To regulate the ses-
siOns of the supreme court, and to pro-
NIu6 lol a COulG VI al OttloSiOh az - 3C0-
son. Passed.
In the house, petition wss received
| from the suretias of William M'Lean.
late ax-collector OF Shelby county, ask
| ing relief from the payment of the sum
in which M'Lean defaulted. By Mr..
LedgeTwood: A resolution requesting
the governor to appoint commissioners
on fisheries, one from each division of
the State to collect information on fish
culture. By Mr.. Gibson: A resolution
directing the encouragement to take
the Torbett issue case 10 the supreme
court of the United States at once, and
directing the governor to employ what |
ever counsel was necessary to prosecute |
the case. By Mr.. Mathes: Authorizing
the repair of the big chandelier in the |
representative hall. New bills-By Mr.. |
LedgerwOod: To regulate the county |
court of Knox. By Mr.. East: To pre-
vent unjust discrimination on the part !
of railroads. By Mr.. .Gardenhire: To
encourage immigration. By Mr.. Dod-
son: To reduce expenses by having the |
secretary OF state to perform tie duties
OF private secretary of the governor and
adjutant- general. By Mr.. Peters: For
the preservation OF public records.
From Our Speclal OOfr6spOnueuGI
NASHVILLE, February II, 1915
Those seventy five financIers compris-
ing the house OF representatives have
had another struggle to-day over the
State debt problem, devoting most OF
the forenoon and all of the afternoon
session to the subject. This time the
discussion was based upon Mr.. Gibson's
bill, authorizing the receipt of one-half
h. N |
past.due coupons on State bonds at the
rate of sixty cents on the dollar.
Lengthy speeches were the order of the
day, some Of which betrayed thought
and full appreciation of the impor
tance of the subject, while Others indi-
Gated an utter lack thereof.
One OF the best speeches on the sub
iect was that Of Mr.. Cooper, who took a
very hopeful view of the situation,
while at TIE same time he fully appre
ciatad the financial embarrassments of
the State, and the absolute necessity for
economy and wise legislation.
Mr.. Cummins thought the funded
debt of the State should be c0mpTO-
missed, but held that such compromise
should first receive the sanction of those
holding our certificates Of Indebtedness,
and after complete understanding on
the part of the latter as to our assets and
liabilities.
Mr.. Galloway was in favor Of paying
dollar for dollar for every bond
legally issued by The State, but
claimed that the bonds issued
between 1865 and 1870, were fraudulent
ly issued, and he was therefore in favor
of entirely repudiating that class OF in
debtedness.
THAT EMINENT STATESMAN
from Marion, Mr.. Spears, heartily in
dorsed the bill during the morning ses-
sion, declaring that the word ''repudia-
tionu had no terrors for him; that, in
fact, he was rather fond of it, and that
he heartily coincided with "the Bald
Eagle of the mountain" in the asser-
ton that "there is all irrepressible con-
fiict going on between the taxpayer and
the bond-holder, and that, sooner or
later, one of the two must go under"
which remark is sufficient to convince
the upprejudiced mind that the Bald
Eagle OF the mountain possesses very
crude ideas on finance and political
economy, that he is a political dema-
gogue, and, tiguratively speaking, q bird
of ill.omen. But to return to our NUT
ton, oterwise, Mr.. Spears. Having thus
clearly ueHDeu us pOsllIOu, lU6 ITiSluS |
of the bill confidently relied upon his
support, but were disappointed beyond
measure when, just as the house reached
q vote this evening, Mr.. SIe ars arose
and said that the arguments OF the Op.
ponenls of the bill were to much for
him, and that he would he compelled
to change his position and vote against
the measure. The ayes and noes being
demanded, the roll was called, and the
bill rejected by vote of tWenty-four
ayes to forty-eight noes.
ANOTHER COMPROMISE.
The senate does not propose to allow
the house all the credit of taking the
financial bull by the horns, and hence a
bill on the subj ct was introduced some
days since by Senator Jones, purely in
self-deiense, let us hope, Tor should re-
gret exceedingly to be forced to the be-
lief that so sensible a ma0 as Senator
Jones really believes there is any wis
dom or justice in a measure which pro-
vides, as this bill in question does, as
follows
Birst-To repeal the provisions CT the
funding act which set apart the revenue
OF the State for the payment Of interest
on the public debt in preference to other
obligations of the State.
Second-To give to holders OF State
bonds new bonds, at the rate of fifty-five I
cents on the dollar, in lieu of the bonds
now held by them.