Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1879-08-06
REPUBLICANS ON THE STATE
DEBT QUESTION.

At a meeting of Republicans,
embracing some of the most promi-.
nent business men of Chattanooga,
held last Saturday night, the follow
ing address was adopted:
joining Counties:
1.-The undersigned Republicans of
Chattanooga and Hamilton county,
hereby earnestly counsel our fellow
Republicans of this and adjoining
counties, TO support on the 9TH of
August the proposition for the COM
promise of the State debt. as we be-
lieve the good name of the State and
its present and future prosperity large.
ly depend upon the acceptance of the
proposed compromise.
= While We advise acceptance, we
10 Lot wish to be understood as Ell
dorsing the action of the Democratic
Legislature in presenting the PROPOSE
ton to the Ieople of Tennessee.
"As Republicans. we believe that
the highest consideration of morality,
Justice and expectancy require that
good faith should be kept with the
public creditors.
We have no sympathy with repu-
diation Ia any form. We believe the
State debt, with perhaps insignificant
exceptions, was honestly contracted,
and the State and the people have long
since had value received, and we be
lieve the debt should be paid dollar for
dollar We do not believe the State
should repudiate one half its just in
debtedness, and we recognize fully the
principle that the obligation Ct con.
Tracts should be as sacredly respected
by states as by individuals. But the
question before us is q practical Ques-
uoD, purely. No interest has been
paid on the State debt for y ears, and
The debt is mounting up at the rate OF
million and quarter of dollars per
annum and every day q settlement is
postponed increases the difficulties oil
such settlement. e
The larger the public burden the
more dlslnclined will be the people to
attempt it's removal.
Moreover, we can not disguise the
fact that the Democratic masses of the
State of Tennessee have become Ii
good part demOralized For years
Democratic newspapers, Democrat,
stump speakers and Democratic plat
forms have been preaching public dis
honesty, and have been making repu
diatiOn familiar to the public mine
and large proportion OF the people O
the State are now in favor OF rr pHdiat
iDg the entire State debt.
1--WE feel satisfied that IL the pro
posed compromise is not accepted tn,
puoiIe creditors will not get dollar o
the principal, or interest of the debt.
III we believed that q more salisfac,
tory proposition, one more consonan
with the equities of the creditors AM
the dignity OF the State would ever b,
presented for the action of the peonIe
In case the present proposed com pro
mise was defeated, we would hesftat,
not moment to aid in the defeat.
But we are convinced that W,
small have no second opportunity O
acting upon the question.
w Q 10 not pretend to say the homo
OF the State is saved in case the com
promise should prevail. We only ga,
that half a loaf is better than n;
bread er@
1.-The State of Tennessee can not al
ford to- have ait strmnpeted to all tn
world that it has, by vote OF its PEG
pie, refused to, pay even fifty cents o.
the dollar OF its Indebtedness. = g
THE Stale will be forever dis
b0nored In the eyes OF the world, an
immigration and capital, and pros
perity will avoid It's limits as me-
avoid pestilence. r.s...
Every consideration OF duty an
interest urge the acceptance Of tn
proposed compounds. It is ques
ton that rises far above party an
party interests. a,ze zesgs Ezet..
We propose to vote and work Tor th
acceptance of the compr0m ise, not q
being what we would like, but as bein