Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1878-01-07


teachings of history, and to draw lessons
Of wisdom from the experience of the
past. To be iorewsrned is to be fore.
armed. Ihave heretofore cautioned the
people against Mscedon's spies and
Philips emissaries. do not propose at
this time to repeat in haze ver6a" the
warnings then given. / cannot, how.
ever, forbear rejoicing with the people
at our recent escape from the clutches of
the money power. To this we ar" in.
debted TO the patriotism and the incor-
ruptible integrity Of our representatives
in the general assembly. The Spartan
band who stood for the people in this
contest and vindicated them against the
foul aspersons and SANDERS Of their as
sailants are entitled to their eternal graf
itude. We can truthfulIy say of them,
Well done thou good and faithful
servants"
The high tax party in Tennessee, so
far as l have heard expression from
them, all charge that the people, if per-
mitted to vote on the proposition, would
vote to repudiate tSeir debt. 1t is
charged that to suffer them to do this
would be but making the people judges
in their own cause. This is the logic of
high taxism in Tennessee. And every
proposition in the two late extra sessions
of the Legislature proposing to give the
people a voice in this matter was reject
ed by them. As a brief reply to these
arguments l will say that the people Of
Tennessee possess all the sovereign
power Of the State; that from this source
emanates the power Of our executive,
of our general assembly and of our To-
dietary. l will further asy, that the set.
Element Of our public debt is g political
question and must aud will be, sooner or
later, settled by the people, and ought
to be so settled. This view Of the ques.
ZION is sustained by legal principle and
the highest legal authorities. And il the
high tax party had been successful in
their recent scheme to fasten on the
country their pet ideassof grievous taxa
ton, all the gold of Macedon's court
could not have kept the burden on the
peoples shoulders. A subsequent legis.
lature would have repealed the obnox-
ious law before a dollar Of the tax could
have been collected. So much for the
sovereignty Of the people, and fortunate
IS It for .hem that they possess this
power, and that they are so numerous
and spread over such a vastarea Of coun.
try. On this account, if for no other
cause, they are beyond the reach Of
Philips "invincible reason for it has
been said he prefers applying his logic
to the representatives Of the people in.
stead Of to the people themselves.
But | will come back to the logic of
the high tax party: Why are they IN
willing to submit this question 10 the
people2 Do they distrust their honesty.
or intelligence, or both2 They charge
that If the people settle it the debt will
be r~epudiated. They charge that if the
people settle it they will be judges in
their " cause. The accusations Of the
high tax party against the people is an
answer to the questions suggested.
How il is that a Tennesseean with The
want and restitution and distress OF his
own fellow citizens meeting him at every
turn and corner, withshis stalwart sons
and fair daughters, in consequence OF the
%stringency Of the times, taken from the
sehoolroom and performing the mental
duties OF servants in order to drive star
walton from their doors, with civilization
on the backward ebb; when welLto-do
farmers can only afford to send their
children to public schools-how il is
under this state Of facts that a Teenes.
seean can turn upon his own country
men aud accuse them Of Reputation
and dishonesty because Of their inability
to pay the public debt, thus taking up
the argument and cause Of the bond
holder, and adding i%hsolent insult 10 the
! deep injury caused BY the legislation in
] the interest OF the bondholders, is some.
z thing which far surpasses my ability 10
: comprehend and the strong common
sense Of the people. 1t is certainly an
argument not drawn from reason or
philosophy, or even the common die.
tates of humanity.
{ Among such patriots every doubt and
seruple," in behalf of the people, seems
10 be "dissipated." Their former loud
and %clamorous appeals in behalf Of popu.
i lar rights are silenced. They can find
no fault with the b~ondholder; he is par
excellence, their beau ideal Of q mag.
q unanimous and generous gentleman, bni
With a wonderful c~learness of eonceptior
tley can see the u~npriucipled demagogut
10 the peoples friend, and in the people
d themselves a set Of iguoramuses OF
q mean villains who would ~repudiate the
State debt if you gave them half a chance
" have said that to be forewarned is e
be forearmed.
G The same gentry, although defeated in
the late general assembly, are not dis
: pirited, but they will soon core agar
0 before the people clamoring for a con
v%euiion. They will soon become terribl,
alarmed for fear that the poor Radical
will again get in power in Tennessee, anC
10 prevent this dire calamity, must hav,
a convention.
If the people accede to this proposition