The Morristown gazette. [volume] (Morristown, Tenn.) 1867-1920, 1877-12-19
DOINGS IN NASHVILLE.
4 NEW PROPOSITION AND 4 NEW
EXTRA SESSION.

EXTRA SESSION..
On Monday night the 10th inst.
Governor Porter, received a tele.
gram from the Executive Board OIL
the Bondholders in New York, mod
flying the proposition then before
the Legislature of Tennessee SO as
to receive fifty cents in the dollar
instead of sixty as previously pro-
posed. This offer has led to a new
action on the part of the Governor
and the Legislature. The Legisla-
ture Immediately adjourned sine die
and was re-cenvened by the Cover
nor with extended scope for its de-
liberations. The following is the
text of the Governors proclamation
converting a second extra session:
Ex'rrvE OFFICE, NASHVILLE, Tenn, !
December II, 1877.
James d. Porter, Governor of the State
of Tennessee-TO the members of the
Fortieth General Assembly of the State
of Tennessee: By virtue of the power and
authority vested in me by the COnstitu-
ton of the State, l hereby convene the
General Assembly of Tennessee in extra
ordinary session, at the Capitol, on Tues
day, the 18th day of December, at the
hour of o'clock, p. M, and when as
sembled, the members of the two houses
will enter upon the following legislative
business:
1. To consider the adjustment and
compromise of the State debt.
2. To provide the necessary revenues
to meet the interest on such bonds as
NAV be issued under such adjustment
and for the more efficient collections of
the revenues of the State.
3. To provide by appropriate legisla-
tion for the expenses of the extra session
Of the Fortieth General Assembly, and
of the session hereby convened.
In testimony whereof | have hereuntc
set my hand and caused the great seal of
the State to be affixed at Nashville, on
the 18th day of December, 1877.
JAS. d. PORTER.
By the Governor.
CHAs. n. GIBBS, Secretary of State.
The journment and re-conven-
ing of the Assembly were, we pre-
sumo, necessitated by the fact that
the extraordinary session just con-
Guided had q definite proposition
before them, viz, the original pro-
position of the bondholders. and
were not competent TO consider any
other. The present proclamation
opens the whole subject. In form
al. 3 - III a
if the present proposition is accept
ed, as it comes from our creditors
and not from our own delegates. and
we hope our Representatives will
embrace it Immediately without any
preliminaries. We take the follow
ing special from Sundays Tribune
NASHVILLE, Dec. 15.-In the Senate
this morning, the Finance Committee
reported in favor of the passage of the
bill strictly in accord with the Cover
nor's message-compromis the debt
at fifty cents, at six per cent interest,
with coupons receivable for taxes. The
bill stands on third reading, but vote
will hardly be reached before Tuesday
or Wednesday, unless debate be cut off
Monday.
A minority report was submitted by
Fuller, Lloyd and Thompson, taking the
ground that the rate Of interest is too
high.
Several other bills on the subject of
the debt were recommended to be laid
on the table.
The House did nothing of consequence
to-day. The usual amount of speech
making was INDUCED in the Committee
of the Whole.
The Finance Committee gave Mac
Kinnon hearing to-day 1t is so evil
dent that the real purpose of his mission
is to put up job on the creditors of the
State with no advantage to anybody but
his syndicate, that he may be set down
lamentable failure. He is not able to
make good any better proposition than
the impending one, and there is no need
of his services. His presence, however,
has been taken advantage of to create
confusion and mischief.
The opinion strengthens daily, that
the new revenue bill, imposing a whisky
tax, on the Virginia plan, Will pass. 1t
is bill of great expectations, founded
upon the well known drinking propensi-
ties and capacity of Tennesseans.
The Legislature is in no hurry to get
away, and will probably fill out the
twenty days.