Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1879-03-22
THE LEGEsLATURE ON THE
DEBT.


THE LEGISLATURE ON THE
DEBT.
It has been a subject Of remark
that, during the present session Of
the State Legislature, this journal |
has been almost silent upon the
State debt and the proceedings Of
the Assembly in reference to it. 1t
has not been through Indifference
that this has been our course, and
still less has il been through any
change of opinion ON the subject;
but a section of the Democratic
party with whom we are completely
at variance on the debt question
has since the last election been in
full possession of the State Govern
ment in both its executive and leg
islative departments; we have no
influence whatever with thissection,
and anything we could urge would
only be listened to by a few men
who are ia a helpless minority, so
we interpOsed no word of expostula-
ton, knowing that eXpostulatiOn
would be futile. Moreover the men
now in control Of affairs have long
been vociferating that the debt can
be proved to be illegal and that,
give them the power, and they will
prove it so. We have never be-
Heved them, but have thought ii
well that they should have an OPP
portunity to produce their evidence,
and, having produced it, to an
nounce the programme of procedure
which they base upon it. The evil
dence has been rendered, but the
programme of action has not been
agreed upon nor does agreement
seem to be likely, as at present
writing March ~ there seem to be
almost as many bills as members.
We see no reason, however, to wait
for further action, as, whatever the
details of the final action of the
Assembly, the principle they will
act upon is evidently settled, and
that is to assume that the bonds are
all or nearly all invalid, to give the
preference to those issued for the
Capitol, the Hermitage and Mrs.
Polk, which are to be compromised
at the highest rate, and then TO
provide for the others on a descend
ing scale till the schedule come
down to nothing at all; this to be
referred to the people with the
alternative of voting that or moth.
ing.
This in substance is the pro-
gramme, at least that which is be-
fore the minds of the majority, and
whatever modification the details
may receive, this in principle will
be the mode of referring the ques-
ton to the people.
It is evident then that the first
question to discuss is the validity OF
the bonds; but we must prior to
that call attention to the position Of
Mr.. Savage, who is the leader o.
the party now dominant in the
State Legislature. He has long agt;
avowed the doctrine that none OF
the bonds are valid; that no power
has been given by the Constitution
to the Legislature to issue bOnds
binding on the people and that.
further even than that, COnstitu-
ton or no Constitution, no one gen.
Grafton in a State has the right Ia
impose a debt on the succeeding
generation. And it will be seen
that, while he is arguing for the in
validity of any particular bonds, h
always holds himself ready to fall
hack on this position if wOrsted on
the technical argument, and even i
beaten from that position on moral
grounds to plead the immunity of =
sovereign State from suit, and tel
the creditors that, legal or illegal
constitutional or unconstitutional
moral or immoral, they are at his
mercy, for, TO use his own language,
"who shall e5tOp State?" While
then weargue on technical objection
to the validity of any specified class
of bonds, it must not be forgotten
that the men who are now In power
are not really influenced by any
such considerations, but as a las;
resort are always ready to say t.
the public creditor, You can't sue
US, 80 go ahead and crack yOuI
whip, Wen button our pockets and
YOU may help yourselves. This Is
their ultimate position, and the
adoption of it is already the most
dangerous test to which State SOW
ereignty has been put; it is already
alternating mems minds from the
principle of State rights in a degree
which threatens to sweep the last
vestige of them from the Constitu-
ton.
However, though the technical
objections to particular bonds de-
not, as we have shown, really de-
termine the question in these men's
minds we will consider some OF
them. AS it is quite short one we
here give Col. Savagc's bill, which
Is the basis OF all present discussion,
and will serve to bring up the caseo
of the different bonds SeJidtin:
Whereas, IL is the wish of the people OF
the state of Tennessee to make a just and
tIuitable settlement of the debts of this
state.
Whereas, This General Assembly, after a
carsIuI and respectful consideration of the
seyerai propositions made by the creditors
nf thr State, have not considered either OF
them lust to the State and compatible 20 Its
Whereas, Ii IS incumbent upon the Gen
cral Assembly TO meet the creditors OF the
state In a spirit of mutual concession ana
fairness; therefore,
a