Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1876-09-02
GOVERNOR PORTER AND THE COUPON
PAYMENT.
someryiIle Falcon, 3Ist.l


The determin alton on the part of Governor
Porter to pay the past-due coupons of July,
1875 and January, 1876, bRs calleI forth severe
the State, and we think justly Although he
has been demonstrated with and advised to q
different course, he, 1t seems, is determined
this action of the governor, the Memphis
Led0er says:
me last Legislature diminished the public
expenditures considerably and created new
| sources OF r, venue. Thatssme legislature re-
psaled the third section Of the funding act,
which was intended to emasculate the bill.
| This was one OF the things done by the thirty
ninth general assembly which no one to this
day has publicly criticised. Governor Porter
practically translates mis- section OF the Iund
| repeating his power to borrow money meant
something more than q mere aesire to pre-
serve and perpetuate the prerogatives of the
provisions OF the fundtng act TO the fullest ex.
| text of his power. Had Mr.. Porter intimaIed
to the pu bic Just before the convention met
| in a way to be understood, that he contem-
plated this step, he could not have been re
| nominated. aad there was no great entbusi'
asm as it was. He has taken q big load for
the rest OF this canvass, and we do not pro.
| pose to help him carry 1t"
In reply TO several of his friends In Mem
phis, who telegrapoed him as to the correct
ness Of the then rumor, and advising differ
ent course, Governor Porter says: "rhe mon
ey is in the Treasury, was levied for the pur-
| Dos, and the law gives the executive oh1cers
| no discretion in the matter" If Governor
| Porter is only executing a matter in which he
has no option, and that the law makes oblisa-
| tory upon him, OF course he can't be held re-
| sponhible: but If not, he certainly should re-
| sc1nd, before 1t is too late, this order appro-
| prlatipg six hundred thousand dollars OF the
peoples money purpose which is in direct
| Opposition 10 their will, as expressed by the
| last legislature when they repealed the section
| OF the funding bill making the bondholdert
preferred creditors, anu the section under
which, as we understand 1t, the governor pro
| poses to make this payment. Tie interest Of
tae people, the inteTest OF the party, and his
own interest demand 1t.
| since the above was in type, We have
| learned from the evening Ledger that q tele
| grann has been received in that city from the
| governor, in which he says: IL have sub
initted the question OF payment of interest II
| the attorney general OF the STATE" This, 4
| stIikes u.s. Is what he ought to have done a.
| the star, IL, indeed, under the circumstance
| II was necessary for him TO act in the matter
and such q course would have saved much un
| necessary criticism and confusion ut tint
when harmony and good feeling should hav'
MAJOR TOM o'CONoR.
Ledger OF yesterday.l
1t is due to Major Tom O'Conor, of Nash
| vile, 10 state We understand he has all alonJ
| opposed the policy of paying off the cou pom
| in the manner proposed Dy Governor Portel
| The Insjor has al various times expresses
himself positively on this question. "
mention this now because our attention ha
been called to The fact that his name was on :
ussd IN the Ledger, but certainly not with a
intention TO pace him in false position.
INTERVIEW WITH MEMPHIS BANKERS
Inquiries made at tue banks yesterda
| failed TO ascertain amy transactions In Ter
were Informed, there have been no transaG
| tions here by bankers, although letters OF IL
| q0iry have been received by come of th
bankers, and as far back ss four or Nv