Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1876-01-22
TIKI FINANCES OF. the STATE.

90. Most of this debt had been Gre
ted in the development Of our rail-
bad system. Our legislature. of that
ay, wisely dissolved the State connec
ION with these roads, some Of which
Tere run at an expense to the State of
twenty-five hundred dollars day
his one measure reduced our debt
me half; but yet there we're cavaliers,
,efore the sale Of these roads. and
ince, who objected to this sale. The
State, it was said had made an enor-
nous sacrifice, wholly indefensible on
financial grounds. But the objections
With the directors. have passed away.
For long period no word Of censure
has been heard in this connection.
Let any man ask himself the question?
how much would the State 8 interest in
bring on the market to .day2
Some Of them would not bring the
price Of an old song
If this sale had not been made. our
State status would be financially, as
hopeless as that of South Carolina,
Alabama, and others, of our much
enduring Southern sisters, who are
confessedly less able to pay moiety Of
their indebtedness, than we the whole
of ours. Fortunately for US, (thanks
to Gov. Senter) we got rid of our OPP
pressors years ago, and since that pc
Rod have levelled mountain of debt.
In addition to this amount of debt
liquidated, we have in the same period
of time met our liabilities on account
of old issue of the Bank OF Tennessee,
and floating debt, amounting to over
three millions of dollars. But why is
it, that, during the whole period of
patriotic struggle foi the last few years
every measure, looking to the credita-
BILE management of our debt has been
met by noisy protest, charges of cor
ruption, and muitiform "fapdoodle?"
Noisy once in their opposition to a
measure, that wiped out at one fell
swoop'' twenty millions of State debt,
they are quiet now as to this policy,
since time has abundantly justified the
wisdom of the act Yes: "All silent,
and all damnedr' With our forty
three millions of debt, and the States
continued connection with railroads,
Reputation was not only probable, but
inevitable; but now, since our debt
has been reduced to manageable pro-
portions, the situation, is highly dis
tasteful to those, who wanted clean
balance sheet, at the expense of the
lost reputation of a State. With some
twenty three millions of debt, and five
hundred millions of property; with
new sources of revenue arising partly
from tax on railroads and the dimin-
ished cost to the State of criminal
prosecutions, realized, and in prospect,
we have no valid excuse to offer to the
commercial word for failure in State
obligations. And thereat bushwhack-
ing politicians are much "disgruntled:"
for, scattered over the State are men,
who, when you allude to State honor
and credit, reply with derisive laugh
ter They will ask you if, really
now, you know, you are in earnest in
using such Anticipated words you must
have bonds, somebody must have paid
you to use such phrases, or you
must be extremity verdant, regular
innocent, and belong to the Mary
had little lamb party!" 1t seems to
have been appointed from of old,
that certain men should thus uncon-
sciously reveal themselves; but what
that revelation imports, it would be
alike unnecessary and improbable for
US to characterize and unfold.
When an individual is willing but
unable to meet his debt, no true man
will ever reflect injuriously upon his
misfortunes. He will retain the sympa-
thy and respect of his associates. And
so of State. South of US there are
States so plundered by foreign thieves,
that they can never pay but an incon-
siderable part of their debts, and no
manly man can have the heart to say
they ever should pay more. But we,
having had the control of our own
public affairs for years, have no valid
reason to give for failing to honor our
obligations. Tennessee must take her
stand with the discredited States South,
whose future is wrapped in impenetra-
BILE gloom, through the greed of vul-
gar tyrents; or she must stand with the
solvent States on her other borders,
who, uncursed by et-baggery, hold
with her their fortunes in their own
hands. Her choice must be made.
On the one hand she chooses the only
course that can develope her great re-
sources of wealth, promote immigra-
ton, increase her commercial facilities
and Importance, and preserve her hon
or, hitherto unstained; on the other,
she falls by her own hands, a public
Observation-Disclosures felo de Sc.