Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1876-02-26
EMOTIONAL FINANc1ERING.

We can always admire an earnest man,
even though We condemn his judgment
Just at this moment we have in our mind
the editor of the GAINESVILLE Chronicle, a
mar of great ability and zeal, and, by
the way, the Nestor Of the Tennessee
press. He has been wrestling with the
State debt question for several months,
and every time it throws him be comes
again more determined that it shall be
paid. We honestly believe that if he
had the money, rather than see it go by
default, he would pay up the whole debt
at par, and make a present of it to some
school or church at GAINESVILLE. Just
hear him:
And by way Of dealing a6nishing blow
at the fair name of the old common.
wealth, and humbling her completely in
the dust, suggestions are thrown out that
the Governor shall go to New York and
endeavor to effect some kind Of COM
promise with the bondholders. The day
that the Governor of I nnessee leaves
Nashville on such a mission as that
should be set apart by her citizens as a
day of fasting, humiliation aud prayer
forever afterward.
We second the motion, and give notice
that if such o day is appointed we shall
nominate Brother 7. of the Chronicle TO
lead in the applications. He repub-
fishes a statement Of the financial con-
dition Of Tennessee, and then patheti-
calIy breaks out; Can such things be
aud overcome us like a summer cloud
without our special wonder2' We should
think not. The Chronicle goes on to
state that the last Legislature reduced
the board of State prisoners in Jail one
third and placed upon the counties the
cost of criminal prosecutions in cases of
larceny under thirty dollars, thereby
saving to the State Treasury at least one
hundred thousand dollars per annum
Her annual State revenue is increased
by a dog tax of at least one hundred
thousand dollars and a railroad tax of
perhaps as much more. The ability of
our people to pay has been further in.
creased by the reduction in jury fees,
which will save to the counties at least
one hundred thousand dollars per an
nun; and yet doubt and distrust are
everywhere and the air is rife with whis.
pers Of reputation" Then the Chroni-
Gle demands q pilot who knows how to
guide the ship aud has nerre enough to
do it Governor Brown is complimented
for paying the interest on the State
debt, but it does not occur to the
Chronicle inaneier hat he paid BY Dor
rowing, and that that ID part Of our extra
load pow. That is the old song Of the
fanders; they care not how the money
is raised or where it comes from as long
as we keep up the appearance Of paying
the interest as it falls due. So long as
the State authorities could borrow at ten
per cent. to pay off a six per cent. inter
est and thus increase the State debt
actually four per cent. per annum, all
was lovely With the high tax party. The
uitimatum Of the Chronicle is absolutely
startling:
The interest on the State debt must no
longer GecUmulate-it must be paid The
next Legislature aud the next Governor
must be elected on that issue. The poll
ticians who try to curry favor with both
parties must 60 TO the wall. The ship
must no longer drift--she must have 3
hand to guiue her. The party 10 power
next year must be a party with a policy
Under which king, Benzonian2 speak
or die"
The colored individual 10 this p~ariicu-
lar woodpile, jud ging from the size Of
his feet which we see sticking cut very
innoeently, we imagine is about the size
Of an ordinary candidate for Governor,
but his name is not Porter. There may
be local r~ivalries and jealousies between
che cities Of Paris and GAINESVILLE.
Under which King, BenzoniauY' We
never heard that question before, but
will venture to answer for q few back
woods folks: Not under either King Il
be demands every cent nominated in
the bond"