Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1875-06-26
ECONOMY, DEBT, TAXATION.

current expenses Of the State govern
ment. And as it seems to be con-
ceded that the people can not and will
not bear a heavier tax. ;han 40 cts, the
bond holders must wait for their in
terest until the people can pay il, and
this .hey can not do without a closer
and more prompt collection of taxes
and more rigid economy in the man
agement Of State affairs, and surely
there can be no economy in giving =
per cent. for money to pay an aceru-
ing interest of 6 per cent. on a debt
bearing the same rate.
In addition to the difficulty with
thousands to make a comfortable sup
port, there is real or imaginary injus-
tice connected with the southern debt
which disinclines the people to be
taxed for its payment They argue
that the debt was created by the thiey-
ing agents Of the Federal government,
under cover Of unconstitutional recon
straction laws, and this being the case,
they contend that the debt created by
those who usurpcd the power TO create
it, is not just debt and ought to have
been repudiated on the very earliest
return to the exercise of State SOW
reignty. 1t is argued, per contra, that
the reconstruction governments we're
de fdct0 and that their acts have the
same binding force as if they had been
dsjare. This Isl distinction which the
masses do not recognize, nor viii they
admit for a moment the binding effica
cy of laws which repudiate the funda-
mental doctrine that taxation without
representation is the very essence Of
tyranny and injustice. The southern
debt created by roguish federal agents,
who so far from recognizing this polit-
cal truism, accomplished their nefari
Gus purpose by DISTINGUISHING the
whites, the rightful owners ofthe prop
erty Of the South, and comforting upon
their former slaves the right of suf-
frage aud their from votes derived the
sole authority for wholesale robbery Of
the whites; and the millions thus en-
bezzled were recorded as the legal debt
Of those who had neither the will nor
the power to create it. Reputation
of all such debts, by theStatcs, as soon
as they could exercise their constitu-
tional right of sovereignty, would have
been sanctioned by equity and the un-
biased Judgment of every civilized
people; but the pressure of tyranny
and interested public opinion prevent
ed any other action than such as tend
cd 10 sanction and legalize as a just
debt, money taken from the people by
force and put into their own pockets by
the carpet-bag appointees of Andrew
johnson and U. S. Grant. Such de
tacto pretenscs may be sanctioned by
the uSages of European monarchies,
but under government of rigid con-
siitutiOnal restrictions and clearl Y de-
Southern deUt dlfea Fea SHHff lhlen llea is 4d
construction laws, is the work of cor
rupt tyranny, and the obligation TO pay
ceased with the lawless power which
created the obligation and the debt.
Ruf, since the States failed to repu-
date at the proper time, and by sub
sequcnt legislation have virtually as
sumed rs State debts the millions of
which they were robbed, the northern
bond-holders should wait patiently un-
til the South is able to pay, otherwise
they may lose all by reputation az
measure of self-preservation. These
we believe, are the views of majority
of the people of the South, and very
few are disposed TO recognize as de
ttcto, governments based upon the
Acknowledgement of the real southern
citizens and the enfranchiSement of
their former slaves whose gross ignor-
anee was made available for the per-
petrat on of the lawIess legislation
which appropriated millions for nomi |
nal works of improvement, but, in re-
atty, for the enrichment of the villains
whom the administration sent South
to Cypress aud impOvcrish its citizens.
But, as reputation is not the doc
trine Of Tennessee, although the i'm
preston is general that the bulk of the
southern debt was created under the
and sanction of the Federal
government, SectionalIy administered,
still the true policy of this State, is to |
pay the debt it has asSumed-taking
are, however, not to crush the people
Indcr the burden Of taxation and not
% add a dollar TO the debt by Dor
owing money to pay interest. The
people must live aud be allowed the
privilege of adding to their present
means of subsistence, and as they con-
:titute the State it is their right to in
list upon such terms with its creditors
IN view of the character of the debt
AS will protect themselves from the
osSes and privations which are insep-
rab.e from the prompt payment of
AMI interest If they can't pay
his year, creditors aust wait until the
ext, and if they will not. they must
IKE The consequences of their exact
~ avarice. la the meantime. there
hould be rigid economy in all the de-
lrtmentS Of the State government.
he present rate of taxation. with
hat may be saved by the curtailment
current expeases-bOth honestly
anipulated will suffice TO pay interest
al create a sinking fund for ultimate
lempiion OF outstanding bonds; hut |
there cm be ~ borrowing without
creasing the debt, let creditors wait c
! We get the money, and let them be
Sured, at the same time, that we will .
It pay interest on housekeeping I
1m these conditions such portion of
q entire deb. as was created by the .
ate, IN the untrammeled exercise of