Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1879-07-21
THE 5O4 COMPROMISE.
Some Reasons Why an Original LOw-tax
Advocate will Support It.


ARTICLE |.
The question of the settlement Of
the State debt is one that, in my opin-
ion, should be calmly and dispassion-
ately, and above all, honestly dis
cussed. But, up to this time, has it
been so discussed? Isthink not. Ep-
ithets have been too frequently in
dulged in; extravagant statements
have been made by the friends of the
compromise to frighten the people and
induce them to support the measure.
Special pleading and sharp practices
do not pay in the long run. The peo-
pie soon see through such trickery and
then the reaction comes. Those who
are going over the State setting up
scare-crows, by which they hope to
frighten the people into support of
the measure, are doing infinitely more
harm than good. The people are
neither fools norknaves. They, in the
main, have a very clear conception of
the right, and are disposed to act hon
estly.
Go into the workshop or on the
farm, and talk with the hardy sons of
toll, and you will be surprised at their
general intelligence upon public ques-
tions, and you will also find that they
have a pretty clear idea as to the
merits involved in the proposed com.
promise measure. But their treat
ment iu the past by officials and politi-
cal leaders has not been such as to
inspire very great confidence in them.
Every settlement heretofore made of
the State debt by trickery and fraud
has been repudiated and set aside by
the people, and the opposition to the
5O-4 compromise is owing, to a great
extent, to a belief that has found
lodgment in the public mind that it
was conceived in iniquity. The terms
OF settlement are, perhaps, fair enough,
but the people are distrustful Of those
who put themselves forward as the
especial champions of the measure.
But | maintain, let who may favor
or oppose the compromise, that if the
State debt can be settled upon the
5O,4 basis, the people will have
achieved a most signal victory ever
the Saylocks of the money power.
Heretofore | have had nothing to say
for or against the measure, but the
time has now come for the people to
reason together, and come to some
decision as to how they will vote upon
the question. | opposed the iniqui-
tous funding bill of 1873, and | have
been since what has been styled an
extreme low tax advocate, but | am
disposed to vote accepted" on the
7th day of August next, upon this
compromise, because | think it is as
fair and as equitable a settlement Of
the question as will ever be made,
and because it secures to the people
nearly all they have heretofore con
tended for. The people should not
be driven from the position of right
they have heretofore taken because
Opithets are applied to them by old
political demagogues, who have here
tofore succeeded in deceiving them
and who have been in almost every
scheme of political iobbery. Let the
people continue to do the right, be-
cause It is right, and battle against
the corruption and fraud that still
stalks abroad in the land, until the
giant money power, which paralyzes
every industrial enterprise, is over
thrown and brought under control.
In future articles | will attempt to
review the 50.4 compromise, and give
reasons why the people-the active
and industrious classes-should sup
port it. Low TAX.