Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1877-12-08

learned wisdom by time, it is lii
tie too late. We justly owe tn
debt and must pay it, or disgrac
ourselves in the eyes of the world
Fortunately for us, our crditor
have concluded to offer us an abate
ment of forty cents on the dollar
which will relieve us of nine or tel
millions and leave a balance-..o
about thirteen millions TO be provfd
ed for. / rejoice at this. 1t is q
fair proposition. / would have re.
joiced more if they could have
abated more, but we have no right
to ask it.
And now the question comes up,
shall we accept the proposition OF
so cents in the dollar and for which
the Legislature is convened (? L saw,
yes, by all means. 1t would not
take me five minutes to decide it
/ would vote for ii for two reasons /:
First, becauseit is a fair and liberal
offer. Second, because if it is re-
jected, i believe we will drift into
hnal and absolute repudiation. We
are now in state of practical repu-
diation, for we are paying nothing
and making no arrangements to nav
anything. But it is urged that times
are hard-money scarce and trade
depressed. admit this plea, but
reply that it is no excuse against
just obligation. / care not where
the bondholders live or who they
are. They may reside in the North
or in Europe-or in the moon or
among the seven stars; or they may
be the veriest Shylocks that ever
held the notes of poor debtors. All
this twaddle has nothing to do with
our sacred obligation and the honor |
of the State. We have got other |
peoples money and have used it,
and are using it every day for our
own purposes; and the question is,
will we pay or not? With the
chance of paying at almost half, we
should jump at the opportunity.
But the laboring classes, il is said,
Are much oppressed. / know that.
am one OF them myself. l was
BORN among them, and no man
Iympathizes with them more than
do. / owe all that / have, and
I'm, and have been, to them and my
)wn exertions. And if / could do
to relieve these toiling
of my native State /
would be prouder of the achieve
nent than to be the hero of a great
battlefield. But / cannot consent
o infiict upon them and their pos
Gritty the indelible disgrace of re-
Iudiation. No! never! never!
never! This State is destined,
trust, to live on forever, and shine
.mong her noble sisters as the stars
shed their radience over
reation. desire to see no cloud
IN her horizon; no blot on her es-
utcheon; no stigma upon her name
hat could cover her dead heroes or
Ter living heroes to blush for her
equation. But can we pay the go
ents? / say yes. A fair assess
nent of the taxable property of the
'tate will make it reach three hum
lred thousand dollars; and then we
ave, besides, the privilege tax.
With both, say, we can carry on
he State government and pay semi
the interest on thirteen
Millions of dollars, which, by cal
ulation, would amount to seven
housand eight hundred dollars. /
would create no sinking fund now,
,ut wait for better days which are
ure to come. If my figures should
urn out to be too scanty, supply the (
Ieflcit by rigid economy and re-
DO anything that is
honorable rather than repudiate, or ,
axe serious risk in that direction.
ave the State and her honor, and ii
We cannot leave our children for
unes, let us leave them what is of
more value, an unsullied ,
Our obligation to pay
his debt Is abstract, and is enforced
" every consideration of good
moral, of sound policy. Ina word,
he demand upon us is ineXOrable, ,
nd would rather lose every cent
have in the world, and go back to
he beginning of my race of life,
han to see either definite TepltOia- ,
ION or an indefinite repildidtiOn such /
S we have now. am sorry could
OF make this answer briefer, but i
ad not time to do it.
Respectfully, n. =. BROWN.
To H. Horton, James w. Fisher I
nd others.