The Morristown gazette. [volume] (Morristown, Tenn.) 1867-1920, 1876-09-20

HXln9 the relative COtuHeFcldI NatuSs
remained in force until 1927, when
the amount in the silver dollar was
changed from 416 to 4121 grains,
showing that silver had increased in
value as compared to gold. This
was the law until February. 1873,
when, by o legislative trick, the
Congress of the United States pass
ed an act by which one of our con-
stitutional coins was demonetized
and this precious metal debased.
Why and for whose benefit was this
act passed? Not for the benefit of
the masses of our people; not at all.
but for the capitalists of the east and
of Europe, who hold the bonds OF the
United States; Germany, Great
Britain, Japan and the Scandinavian
States have demonetized silver coin.
The result has been that its value
has been diminished and hundred
dollars in silver coin is only worth
eighty-two dollars in gold. Our
bonded debt is payable in coin, not
gold coin but gold and silver coin !;
and so soon as the value of silver
coin was destroyed in the States of
Europe. the capitalists of the world
combined to prevent the payment of
the interest on the debt in the cheap
coin, and induced Republican Con-
gress TO pass the act of 1873 in their
interest and for their benefit. If the
gold was coming to US we could not
complain, but we are the debtors,
and if by the action of other States
and Governments, silver has been
cheapened since we issued our bonds
it is no fault of our own. We claim
the option of paying in silver coin,
of paying in the cheap coin by which
we would save Is per cent. or near
ly one-fifth of our Indebtedness. If
our contracts were made Payable in
gold coin, / would say Jet us keep
faith with our creditors, but since
they are payable in coin, they must
accept payment in the cheapest
coin a coin that was by law legal
tender when our debts were con-
tracted, a fact well understood by
the holders of our securities when
they purchased them.
The Convention re-adopted that
part of the platform of 1874 which
treated of the rate of taxation, and
declared that it shall not be increas-
ed. This accords with my own con-
victions and position. The reason
assigned by the Convention for the
adoption of this policy IS recognized
by every thoughtful man-.'because
Of depression in business, shrinkage
In values, the prostration of all in
dustries, and impoverishment of our
people, we are unable to endure a
higher rate of taxation. Recent
legislation has lightened the bur-
thens of the people, and much more
can be accomplished in this direction.
I recommended to the last LegisIa-
ture the passage of ''law limiting
the incomes of all officials to a GER
tain amount, and providing that all
fees in excess of the prescribed limit
shall be paid into the public Treas
ury." Such a law would bring a
large revenue to the State, and if it
becomes necessary to enlarge it, let
the knife be applied all along the
official line from the first Office down
to the humblest, and let practical
proof be given to the country that
the Democratic party means reform
and retrenchmeDt. E84&
/ now propose to discuss the can
didates who aspire to the high office
to which you elected me two years
ago. | will take them in order in
which they have announced them
selves.
COL. DORSEY B. THOMAS,
now a citizen of Humphreys county
and formerly citizen of the county
of Haywood, claims my attention
first. In the year 1861, this gentle
man was candidate for the State
Senate, and issued this heroic cir
cuIar to his constituents. The cir
cular to which we refer was issued
in July, 1861, and had reference to
the election to be held in August of
that year. The following is a true
copy:
To the Voters of Madison, Upton, Lauderdale and
Haywood counties:
AS there have been various reports put
in circulation by my enemies, to my pre-
judiee, in regard to my position, / thus
address you. was Union man in the
strictest sense of the word, until con-
WINGED of the subjugating policy of the
Lincoln government; but at all times OPP
posed to the policy of coercion. Since
that time / have done all in my power
to reconcile the Union men of my cOun-
ty and State to the change. am in ia
vor of the adoption of the permanent
and sOiU do all S1a 3,ay aoaoer to
Independence of the South, and
in eceTv respect scsU be as Loydl to the neao as
I acGs to the oil G0UernRent am Ten
nessean by birth, and with her and her
interests is my fate individually linked
For her honor am willing to give my
al and offer my life, if necessary, to sus-
tain it. IF the sodr continues, expect to be
found IN the ranks, fighting for the honor
and Independence of my section, where
will be pleased to see all those that
have talked so much but refused to go
unless honored with al office.
If elected to your State Senate, shall
DO all in my power to correct the abuses
that have crept into your Legislature in
she appropriation of money to improper
and especially not myself to /
receive extra or railroad mileage.
D. B. THOMAS.
He was not elected, and cense-
luently lost the opportunity of refn-
sing to receive . extra or railroad
]" but whether he was found
IN the ranks. fighting for the honor
md in defense of my section or
he simply remained at home
Ind urged 1.-THE adoption OF the Per-
nanent Constitution" history does
lot tell us. but the author of the
brave words, am willing to offer
ny life if necessary. must have sup
olied material for national eeme-
cry of his own.
The I" subjugation policy, eontin.
led for four long years, and after it