Whig and tribune. [volume] (Jackson, Tenn.) 1870-1877, 1876-05-27
halfpe head what Engiand, Fra

half per head what England, Fra end
Germany have, we hnd our peopl p5
trate and helpless; :, 900, GOO Of men wiss,
nothing to DO, land worth nothing. all
our industries stopped. we assert that
we are not innationists, but we ask thar
a small per cent. OF the money withdrawn
from circulation shall be restored. This
NE are denied, and we are told thsgin no
event can any relief be granted, ana in
no event will we be allowed TO have our
own banks.
We protest that we canpot pav heavy
taxes under the ruinOus effects 81 the con-
traction specie resumption act. We pro-
test that Eve-have nothing for which we
can get money, and that in fact there l.
no money In the country, and We are as
sailed as repudiaiionists.
do not know n large holder Of Ten
nessee bonds who is not with Nsrs En4-
land and against giving the people and
relief. Every turn OF the screw II con-
tracing circulation Is that much added
q the power of money and taken frc7+
labor aaa se,ira cpnie,l, -
l1u1 dove ,I,s,ss. - lepudiatt =
and TIE questionnlsy some-st lass whefiIs
er Il was wise, 20 say nothing OF the jus
tice of IL, to place us on any ground be-
yond where we place ourselves.
We say we are not able % pay; but II
the money power will restore a part Of
the money Withdrawn from circulation.
so that we can make crops and build up
our wasted fortunes, we can pay heavy
taxes and are willing TO pay our interest.
but we cannot do it in onr present dis
tressed condition. Our burdens are sim.
ply enormous. Col. Bailey says Tennes-
see is paying the Federal Government
$l7 100000 Of taxes. When we could not
vote, our towns, many Of them, were
burthened with debt, and we cannot re-
cover from the arrangement Of our labor
system without money TO pay laborers.-
Our people are disheartened and discour-.
aged. Twenty-six or twehty-seVen mil
lions OF public debt is more than they are
willing 70 undertake. Our people are
not dishonest. They know their condi-
ton, and they know they cannot pay
They see no reason why the holders Of
bonds shOald not suffer part Of what il
seems TO them ought 10 be shared by all.
When the debt WIS made the people
had ability 70 pay. Dne-half their prop
erty was swept away by the war, and
One-half of the balance was sunk by the
terrible effects Of contraction. Now, if
individuals In distress are relieved Of
part of debt by generous creditors.
why may not a body Of people like State
be relieved? Alabama has compromised
her debt at about half. This has been
done In the last few months. Virginia
and Massachusetts, both, IN old times,
cromprOmised a public debt which they
were unable TO pay. 1t was regarded as
right, and they were not dishonored by
IL, and no newspaper has ever chided Al
ALBANIA for compromising debt not half
as big as ours.
The free use of the word repudiation-
lists, by the gentleman last night, az ap-
piled 20 men who believed the people
can't stand heavy taxes, and tha1 tss
debt ought to be compromised, sigufte
only that the high tax men are unRil-
ling % meet the Issue made.
We propose when the Legislature meets
an earnest effort shall be made 10 COM
promise the debt, and If il cannot be
compromised, then we insist that taxes
shall be levied only TO pay current ex-
penses-no more-untl we get able. and
then we will pay the debt. But the debt
can be compromised.