Whig and tribune. [volume] (Jackson, Tenn.) 1870-1877, 1876-04-01

STATE DEBT.-With a view to keep the
readers of the WIG AND TRIBUNE posted
on the financial question, likely to enter
largely into the present canvass in Ten
nessee, we shall give the sentiments of the
press, and prominentpolitieians, pro and
con, on the subject, as they may come I'M
derour observation. The GAINESVILLE To-
bacco Leaf says: Tennessee is bound in
every way to meet this debt. Her honor
has been unimpaired heretofore, untaint-
cd bya breath. Her sons have won hon
or in five wars, and on both sides of the
last one. Their credit was unimpaired
until we reached Democratic rule. These
whispers of reputation, total or partial,
have come under the rule of Democracy,
and that too when the Democracy We'd
with the Republican party in 1872 in
state credit position; aye, took the lead
and carried the State with that as the only
issue, and now the miserable dcmagogues
are putting forward Tennessee in the atti-
tude Of whining beggar.-Date OJiI,ua
BeltSdiyfo. Poor, miserable, pitiful
wretch !once the mother of honest born.
chivalrous heroes, 4 people whose word
was their bond, she can produce nothing
hereafter but groveling idiots and weak
ling cravens, dwarfed and stunteu
growths, 'sent into this breathing world
scarce half made up.
Tennessee has spent her bonded debt for
railroads and turnpikes, which have in
creased thevalue of her lands; or, to put it
in another form, increased the value of
the production of her land, built up her
cities and towns, almost created her entire
wealth, and largely contributed to the
growth of her population.
Surely it were the grosscst, rankest
fraud to pocket this benefit and repudiate
the debt incurred for it in whole or in
part If we are bankrupt let us give up
the assets acquired. There is the the test
ofreal inability, honest breaking and a
fraudulent scheme. The one keeps his
assets and defrauds his creditor, the other
gives up what he cannot honestly hold
That shows how hollowis the pretext of
inability"
Col. John IL. Savage, once member of
Congress from Tennessee, late a candidate
ioi = . - 'N4''tepA9 et4Ah ~ tCctut II sulpOS-
ed candidate for Congress in the AIcMinn-
vile district, comes ont square for repudi-
alton. Hesums up his arguments in fa-
vor of his position as follows:
lst. That the bonds had been issued in
violation of the Constitution ofthe State.
End. That the bonds had been Issued in
violation ofthat legal and political maxim
that Taxation without representation is
Tyranny"
Srd. That they began ia fraud and class
legislation and progressed in iniquity, and
that there are no bona .fl4 holders.
18th. That they created no personal obli-
CATION Prepayment upon any man. woman
and child in the State.
9TH. Ifitbe admitted for the sake of mr.
gument, that tina Legislature intended 70
create 4 lien in the nature of MORTGAGE
upon the then taxable property Iand and
negroes Of the State, it can be shown from
the highest legal authority that the obi.
CATION has been released and discharged.
9Th. Thatall the acts under which the
bonds were Issued commanded that the
bonus should never be sold at a discount,
nut IN point offact they have been hawl,ed.