The Bolivar bulletin. [volume] (Bolivar, Hardeman County, Tenn.) 1865-1888, 1877-12-06

Noah Ussery has been elected mag
istrate.
Rev. Mr.. Walker, the minister APP
pointed to preach here and at Bolivar,
will preach here Sunday morning. He
is an excellent preacher. We will
warmly welcome him.
HENRY.
Reply to representative MANSIONS Address.
MEssRs. EDIToRs:-In your issue of the
10Th ult., you published an address of our
Representative Manson 10 his fellow citizens
OF Hardeman county, on the compromise of
the State Debt This is certainly a subject
OF the very greatest importance, and should
elicit the thought of the wiscst minds
amongst us. The discussion sf it will Ger
tainly do no harm, as truth and justice can
never suffer under the deliberate and sober
discussion of any subject, and "crror is ever
harmless when truth is left free to combat
it." 1t seems to the writer that the range
OF the comments OF the press and individ-
uals on this great question has been too
conspicuous of feeling and passion, and has
taken too narrow a view of the momentous
issues to be determined, for we have on the
one side unworthy appeals to the pr, JUDGES
Of the people, and on the other reckless
ness OF statement, inconsistent with that
calm and unimpassioned consideration of
question that must for generations to come
effect for veal or woe, the dCstinics Of the
good people of Tennessee and the glory and
fame of our noble State Mr. Manson is a
membeHsof the present Legislature called to
meet on the 9Th inst. to express his views by
his vote in the determination of this great
subject, and as statesman should endcavor
to meet the subject in mastery and eleva-
ted manner. He, VITA some others who
seem have taken the point, apparently rs a
means Of accepting the responsibility OF tn
decision, contends, in this address. that ac-
cording to the call of Gov Porter, the Leg
islature must either accept or reject the pro-
position of the bondholdcrs to adjust the
debt by the issuance of new fix per cent.
bonds at the rate of sixty per cent. of the
total amount OF principal and past due in
terest." Is this conclusion correct or docs It
accord with the proposition to be submitted
to the Legislature Her proposition is "to
consider the recommendation made by the
arbiters at the conference held at New
York in March, 1877" What conference
Why, the conference between the bondhold-
ers, or some of them, and committee Of this
same Legislature appointed for the purpose
of considering the question of compromising
the State debt. Ii is not the proposition
then of the bondholdcrs alone, but of this
committee of the present Legislature, and
this extra session is to consider their recon-.
mendstior- to adjust the debt by the Issuance
of new six per cent. bonds at the rate sixty
per cent. of the total debt How are they tc
consider it? Merely to say whether they
will adopt or reject? That would be pool
exercise of Legislative power or discretion
indeed, and one very unworthy of the grea
question before them. To consider mean,
| to deliberate, to discuss, to comprehend anC
provide the ways and means of carrvin,
their conclusions into effect Now suppOs,
upon deliberation and discussion of thi
subject the Legislature in its wisdom dis
covers means ofscttling this vexed question
at once acceptable to our creditors and hon
CRADLE and satisfactory to our people, ma
they not under this call to consider the rec
ommendation, adopt plan of adjustmen
not strictly calling for the acceptance @
rejection of the sixty cents compromise
for instance If they should conclude to bin
the State to 80 per cent. and 4 per cent. IN
tcrest on the total Indebtedness may the
not in turn submit this back to the bond
holders 1t seems to the writer strang
argument which contends that in a discus
sion about compromise of our indebted
ness we shall be limited to the considerable
of but one abstract proposition, and thu
mutual propositions may not be alternatoi
submitted between the high contractin
parties. But it Is said we ought only
, receive overtures of compromise and NJ
| make them, lest it appear dishonorable I
the State to propose to pay it, debts in th
hest way it is able. Mr.. Editor, does NJ
this position appear ridiculous? If we al
really and honestly disposed to do all "
! can to pay our debts, may we not in goo
! faith go to our creditors and making
manly and open admission OF our contra,
ted resources, without any compromise
our dignity, show to them that such is OF
present condition, and we are only able
= pay so much and leave it to them to "a
! if they will accept. The writer sees notl
ing dishonorable in this, and certainly f;
, less of dishsnor than cautiously and wit
, incorporate denunciation of our credito
r for holding our bonds, say to them we wi
o not even discuss the payment OF this dc
r and refuse to pay it. Mr.. Manson says "
It is not the fault of the people that this sta
l. of things cxists, but it is the result Of 1
4 liberate design, and well carried out pill
II of the monied aristocracy OF the North al
Y East" that our people find difficulty In pa
c ing taxes, and. argues that this is reas,
Il sufficient for the people to make no effort
II to-setue their State debt Will not Il
same reason be equally as available to I
private debtor in the settling of his liabi
ties? Suppose A owes B one thousand d,
Iars. and r SAYS to 4 Sir, on your showi
Of youF assets l perceive you cannot p
this debt, and AZ the same time pay the CT