Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1878-11-26

.JNN~ S9A {
extract from a speech Of Maj.
W. J. Sykes, at Columbia, last sum-
mer. He is a prominent and able
Democrat, and we commend his re-
marks to the Democracy of the
State. He said:
Suppose " refuse 10 settle Ine debt
| of the State upon the ground That tht
| slaves were emauci pated1 that the debt
is held mainly 10y Northern men, and
that tue Congress If the United States
| does nI t l6gIslate ia mAbntr to suIl
us, but, as we b, lleve, detrimental e
| the interests OF toe country?
What effect, think you, THE will
| have uyoD The elections which are Il
| take place in the Northern States this
| fall? VIII not our refusal To settle
| this debt IN a satisfactory manner lie
urged as au evidence of our dIslOyalty,
of our still cheerishing feelings of sec
| tiODal hatred, aGd viii il not lie said
that our cnnduct IN this matter make e
good the charge that we desire TO de-
stroy the credit of the National Gov
eminent by repudiatiBg the national
debt? VIII not the speeches which
have been made and published
in this State by men aspiring to high
positions be quoted as evidence against
US, and be used TO intiAme the secs
tiOnal jealOusies and excite the sec-
tiOnaI nreiudices of the Northern peO-
pie? The excuse that we do not owe
the debt, or that we are unable 80 pay
il as il was proposed to be settled, will
not deceive any Intelligent, well-iu-
f,wv,,nI ruRfial
avail Us nothing at the bar of an en-
lighteued and disinterested public
opinion, however soothing it may be
to us. Il we wish to strengthen the
sectional animOsity in the Northern
states, to secure the triumph of the
Republican party in the fall elections,
we can adopt no better course than to
sustain by popular vote the action OF
the last Legislature, and refuse to en-
ter into Just and reasonable settle
ment Of our State debt. For such a
State as Tennessee, with her great
productions, and with her immense
resources, 10 demaud that she sha set
tie the debt, which built her capitol,
established her State Bank, and put in
successful operation her system of
tuTnpikes aud railroads, which have
been and will continue TO be of such
inestimable service 10 her people,
at forty aud thirty-three aud third
cents in the dollar, surely will not
be considered by any man outside of
the State, either North or South, a
reaz enable demand. Ii we, by our
course, cause the triumph OF the Re-
publican party in the fall elections,
hat may give them the election of the
next President. since the House of
Repre- ,eniatives to be elected next fall
may elect the next President of the
UIted States. What then will We
have accomplished towards obtaining
the passage Of the relief measure we
desire? The idea that anything we
may DO towards the non payment of
our debts Will force them To- adopt our
policy is simply ridiculous. If every
; )uthern State were TO refuse to pay
either tie interest or principal of their
public debts il would have no infiu-
euce in controlling the action of Con.
press. A. welt might one of US who
owed bank Geb5 e fifty dollars ex-
peci t. control Ihe policy OF the bank
by refusing To Eay Ia, dzbt as TO eX~
pt CT ibe great nin.oy 10 Yer, as 1t is
called, to change its policy because the
southern s ates refused to pay their
public debts. They might even be
give them arguments to use, and
furnish them with weapons which
mig ht Toe directed against US. Already a
leading man, Senator Angus Cameron,
In an article in the May-J une numUer
OF the North american RcUielU has
said that The history of their Che
Southern States financial ac ion has
beru an uEbr"Reu chronicle of bad
faith with their creditors. When
these !hiugs are done III ell the South
ern , aies as separate communities.
what can we expect should the South
obtain control of the finances of the
United States?'
"Shsll We make true his wholesale
charge? Shall we furnish the weapons
which are to destroy us? 1t is be-
cause | am anxious for the success of
the Democratic party in the fall cleo
tiO2s, and in dhe great election in 1889,
that L am opposed to any measure
which | think will strengthen the Re-
publican party. Let us do what is
right, let US stand by our contracts,
let us do justice to all men in the
North as well as in the South, let US
make no sectional distinctions and at
Tempt to arouse no sectional animOsi-
ties; let Us proclaim in sincerity and
good faith that we intend to stand bV |
all ampHdmen to the Constitution,
Including he one which SAYS. the !
validity o the national debt shall |
never be questiOned,' aud then we
Ian 20 before the people of the whole |
sOun r., North and South, and ask for |
uch systems of finance, such mea
ares Of policy, ami such works OF inn
lJov -meut, as wilt do justice to all |