Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1877-12-22


j. III, WILKES.
Whereas, The unsettled condition
of our State debt is seriously disturb
inp the public mind and injuriously
affecting all classes of our people; anu
Whereas. 1t is inevitable that q
failure on the part of the present
legislature to reach settlement /
viii he attended by results disastrous /
70 all the interests involved, ana |
snecially so in the effect it will nave
upon the prosperity and general wei
fare of our own people; ana
Whereas, the proposition now UNI
der consideration by the Legislature,
from the creditors of the State, agree
ing to fund the present bonds ana
accrued interest at fifty per cent. OF
the face value, is one that should be
accented without hesitation; there
fore, be it
Resolved, That it is our earnest
desire that the Legislature should
promptly accept the liberal offer OF
orr creditors. and by all necessary
legislation provide for the faithful
! discharge of the obligations assumed
/ by the State in the adjustment ana
! be it further
Resolved, That being fully con-
scious of the evil effects that VIII
follow reputation, we are opposed
to it in fact, and disapproVe of any
/ action that leads to it.
Resolved further, That we respect
fully request our Representatives IN
the Legislature to vote for ana use
their influence to secure the accept
ance of the proposition referred to
in the foregoing preamble.
Mr.. Wheless added that the COM
mittee had Intentionally avoided
discussion on the subject, preterrlng
TO leave to each individual the OPP
nortunitv, if hes desired, to express
his opinion on the subject. lie
, moved the report be received, SO II
could be discussed.
Judge WhitWOrth seconded the
motion, which was agreed to;
= Mr.. a. g. Adams moved the al,
option of the resolutions. lie Woulo
i add that some had wished mucf
, absolutely necessary to the prosper
: ity # the State that the entire debt
: should be paid.
Judge WhitWorth arose and said
: that he was fully satisfied with the
resolutions. Their language sutfi-
? GENTLY indicated what had been
r asked fOr-an expression of opinion
on the State debt question. 1t had
. been alleged that the commercial
; community, of which the Exchange
was the representative, was com
, posed of repudiatiOnistS. The reso-
.,tpnt1o1V- nVnlIOf
! that our merchants We're not repu'
diatiOnists. The Legislature was
1 now i'm session, and had before them
!, a proposition from the bondhOlders
2 1t behOOved the Exchange, as rep
! resenting the mercantile interests O
the city, to express its opinion anC
give its advice. No man could OBJ
t feet to accepting the proposition eX
t cept on one ground-that the State
a was unable to pay. He though
the State was able to pay 90 cents
and no proposition below that sun
t should be insisted on. That prOpO
\ sitiOn was generous and eminentl,
lust. He would say that, beside
, accepting that settlement, we sh0ult
' give the fullest security to the debt
# above that now given on our bonds
t The coupons, as they fall due, shoult
! be receivable for all dues. We ap
peal, in our manhood, to the man
hood of the members of the Legisla
ture, when the creditor comes for
ward, to sustain the credit OF tn
State and accept his proposition
giving it every security. The cred
n itors only asked the merchants t.
: endorse the proposition, give then
J, our advice and sentiments. w,
$ should let the world know that al
: though Reputation seems running
n riot. vet in our community we stant
e ready to accept the proposition o
0 the bondholders and give them CIV
= cry guarantee.
+ President Mcguire put the ques
: ton, and the resolutions were unan
: imously adopted.
! 1t was made the duty of the com
y mittep which framed the resolution
i to see our local delegation in tn
V Legislature, and make known tn
S action of the meeting and request at
C tentive consideration. 1t was ais
o ordered that copies of the resolution
0 be sent the speakers and member
IS of the two houses.