Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1878-04-15

n E1NI NANa N
+, ests, then let them go. The people wa
the only court to decide this question
He admitted no legality of the bonds
. "Savage's platform" was to give til
{ bondholder 335 cents as a peace offering
.-if the people consented. A vote o
the people was what he wanted upon tn
! matter. The cry Of dishonor wa
false as false can be.
t The legislature was called in extrI
session at the request of the bordholde
and his friends, aud to do their will, ant
not the will of the people. The bond
holder was getting no interest and th'
people were paying a ten cents tax anC
we're satisfied. There is about a million
Of dollars in the State tonight tina
would have been in the bondholders
pocket in New York but for this legisla
ture. The people do not want a change.
He went to Nashville at the extra ses
sion to execute the peoples will. TheJ
wanted him to do nothing, and in his
opinion he did it well.
he would never vote for any man OF
sustain any party that proposed to issue
bonds with coupons receivable for taxes.
This, 10 substance, gave the boudholder
q first mortgage on the revenues of the
State with a power Of foreclosure every
year.
The State of Tennessee now is SOW.
erign, subject to the orders of no court.
Pass the coupon law and the Federal
Court and its marshals will take the
State BY the throat, and we must pay the
bondholder if the people perish. He
would rather see Brownlow's militia here
than the Federal Court; we might escape
the militia, but not the court, Neither
would he vote for any man who denied
the right Of the people to settle this
question for themselves at the ballot.
COX.
The constitution says all power is in
herent in the people; and that the legis.
lature is dependent on the people-not
Independent Of the people, as bondhold
ing orators insist. The constitution also
says the people have the right to instruct
their representatives and this is com.
mon sense as well as constitutional law.
After pointing out and answering what
he called Misrepresentation Of his ad.
v%ersaries, be said he would state what he
called the text or outlines Of his argu.
ment, 80 that each person might have it
fixed in his mind, and for the reason
that, while he should only repeat a few
Of the arguments to sustain these propo.
%sitions, the common sense Of men would
ind hundreds of reasons, perhaps better
than any he might addnce, because all
things sustain the truth, while falsehood
is usually sustained by a single fabrica.
ton or deceptive assumption. He pro-
posed to show to the humblest intellect,
so plain hat no lawyer or politician
could successfully deny or disprove it,
That the so called State bonds are
against the letter and spirit Of the con.
stitutiun OF the United States.
That they ara not authorized by the
constitution Of Tennessee.
That ninety nine out Of every hundred
Of the present bondholders are fraudu.
lent purchasers and hold these bonds ia
violation Of the statute pretending to
create them, and against the peace, dig.
nifty, policy, honor and credit of the
State.
That the bonds land the policy that
issued and now sustains them is against
the will Of God and the rights of hu-
mainly.
That 10 court, State or federal, nor
any court upon the globe, has jurisdic.
ton to enforce any right the bondholder
may claim, or to repair any injury be
may think be s~ustains, for the plain
reason that be is a v%iolator Of the laws
Of God and man himself, and has no
rights to protect.
That no party or party convention,
Republican o. Democratic, has any law.
full Jurisdiction Of this question, and
past experience and common sense
teaches that they will not settle it wisely
or satisfactorily 10 the people.
In like manner no hundred men as.
sembled at Nashville as a legislature,
have any constitutional power to settle
this question so, or to bind the people
nor is it safe to trust them.
There being no court, there is no
moral or legal obligation on the people
TO create a court to accommodate the
b~ondholder, so that he might try his skill
to mislead or seduce the judge.
The people alone at the ballet-box
have Jurisdiction Of this question. If
the bondbOlder gets anything it will be a
gracious gift By the sovereign power;
aud as the people must pay the money
they should have the honor Of the gift as
well as the burden Of payment.
Not as a debt but as a compromise.
aud as q peace Offering. to escape q pro.
tracted and hsrassing litigation. He was
willing TO pay the bondbolder 331 cents If
De will take 1t and trouble US no more
forever.
1t is best to pay this sun speedily and
certainly in the shortest time possible,
and TO fix the amount Of tax now that
will be necessary, so that We may have
no more funding bills or de~falcations
and dishoaor hereafter. The people are
vide awake and ready for trial now
We want no eontiuuances. They may
grow weary with watching. The bond
holder ayarice and money never sleep.
The bondbolders' orators and newspa.
pers say in substance that the people
cannot be trusted; they are ignorant
and corrupt; they will repudiate the
bonds. II they do, there is no power to
prevent it. They have the right TO do
so, and the bondholder cannot help him.
self. But | still think il the bondholder
will cease TO abuse the people through
HE hired orators and agents, although
be has no law and out little equity, they
will give him something, 1891 or a less
amount. II the bonds are abolished by
a vote Of the people at the ballotbox, Il
will result from the unwise acts and
words Of the so called State credit men,
who abuse and dictate to the people, and
deny their right to settle this question
for themselves.
Colonel Savage vas frequently ap.
planded, aud was listened to with the
closest attention. At the conclusion be