The morning star and Catholic messenger., 1878-08-25
TENNESSEE,S PUBLIC DEBT.

On the 16 tn inst. the Democratic State Con
vention, assembled at Nashville, adol ted q
declaration and address, from which we repub.
lish this extract as being of special interest TO
she people of Louisiana:
For five years the Nation al Radical Republi.
can party upheld and protected an irrespousi-
BILE minority in the usurpaton of our State
Government, and permitted it TO waste the
substance of our unrepresented and inn
poverished people by bnrdensome taxation,
and the iseue and sale ct an enormous disoon ut
of millions of bonds, the proceeds of which, in
great part, were converted to the private use
of it's party fsvoriCes, and when the con troll of
the State Government was recovered by our
people they were threatened by military gov
ernment if they presumed to question the
validity of the bonds so Issued. We under
took to provide for these bonds as o part of
our public debt. AS Democratic we point with
pride to the fact that since the acoessi On of
our party to power it has not created q dollar
of debt. bot has paid millions upon the exist-
ing debts. 1t has steadily reduced the ex-
penses of the administration OF the State Gov.
ernment. 1t has attempted to meet all the OBJ
legations of the State, just and unjust. By
reason of circumstances over which We have
had no control, we are no longer able to meet
the requirements of our creditors. The cost
of all our predictions exceeds their market
value. Our mechanics and laboripg people are
without remunerative work. Oar merchants
are making no gains. None are prosperous
save corporations, interest takers end money
lenders. We recognizs among ourselves wide
differer ces of opinion as TO le true mode and
measure of payment of our public obligations;
but for the present these differences of opinion
afford no just occasion for disturbing that
unity which is 80 essential to the complete
success of our party in its great struggle for
the liberation of the country. We cordially
unite, however, in declaring that we are op-
posed to the repudiation of the just indebted
ness of the State, and that we are in favor of
an equit able adjustment of our public indebt-
edness. But to the end that this question may
be put out of the politics of this State, we de-
Glare that we are for the submission to the
people, for their ratification or election at the
ball lt-box, at a separate election, of any ad-
iustment of the State debt which may be made
by the legislature, aud until snch adjustment
shall have been made and ratified by the peo-
pie, we declare that we are opposed to the levy
Of any greater tax upon the people than
may be necessary for the payment of the ex-
penses of the State Government. economically
administered.
We demand the adoption of constitutional
provision prohibiting the State forever from
borrowing money and issuing bonds, except
such as may be issued in compromise of the
present dett,
We demand the reduction of the feea of
officers, in conformity to the general shrinkage
of values and stringency of t 1e times, and the
adoption of q maximum st tsndard, ell fees in
excess to go into county treasures for the use
Of schools.