Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1879-02-03
go NV oRnER nH rH1Nas


half century ago when Memphis
was only village and trading post,
had been amended from time TO time
as the growth Of the place and change
of circumstances required. The orig
inal charter, entitled an act to in
corporate the town Of Memphis, I"
passed December 8, 1926, was a brief,
simple document compared with
the elaborate charter act applying to
corporations of more than $1,000 in-
habitants passed on the 23d of March,
1875. The necessity for these various
changes was at length superseded by a
higher necessity involving the princi-
pie Of self-preservation which forced
the people, through their representa-
tives in the general assembly, to set
aside forever the machinery of mu-
nicipal government which had become
an engine of oppression and the
symbol of past misfortunes and
mismanagement. 1t no longer
answered the purposes for which il
was established, it seased to subserve
public interests, and therefore had to
be abolished. No one long identified
with Memphis, or feeling any local
pride of name and place, could face
this last dire resort without some feel
ing of doubt, apprehension and regret
But it is done; the bridge is burned
behind us, and we believe that the
movement is justifable morally and
legally in the eyes of an enlightened
world The assets and the liabilities
of the old government are left behind,
and we are left free under the
protecting aegis of the State to enter
upon a new and more prosperous
career. All the assets of the corpora
tiOn properly belong to the old credi.
tors. 1t seems to be well established
in law that the creditors, while having
a claim upon all of the private
property Of the city, have no legal
claim upon the property of private
individuals or upon the public prop
erty of the defunct corporation, sucl
as engines, parks, promenades, etc
These are protected by law and canno
be reached The creditors of thu
city while having their rights
and equities, only prejudice thei
cause by resorting to the extrem,
measures which would leave a com
munity of fifty thousand people at tn,
mercy of the flames, and the yet lesi
remorseless mandamuses. 1t is moi
the purpose of those who advocated
the change to repudiate any just debit
which the people can pay. The fire
men, policemen, laborers and other
having claims against the city for per
sonal services ought to be paid dolla
for dollar if possible, and we hope thi
can be accomplished As to the cit,
bonds generally, we do not regard thi,
as a remarkably sacred debt Thi
question will bear considerable inves
tigation. The compromise bond
should be recognized as preferred
to others except when issued in liel
Of bonds affected and deprecated b,
virtue Of decisions rendered or pend
ing by the Supreme Court The ma
who agrees to take fifty cents on TIL
dollar for an illegal debt deserves n
particular thanks. Several bills hav
been drawn providing for an adjust
ment of the old city indebtedness. Ou
representatives are all at home thi
week, and after consultM with tn
people and coming to a Iommon un
derstanding, they will endeayor t
secure further legislation upon thi
subject. Thus far they have bee
remarkably fortunate in securing tn
passage oflaws in the interest of theil
constituents, and it is likely that an
bill which they unanimously supper
will be favorably considered by TIN
general assembly. The people Q
Memphis owe lasting debt Of graft
tude to the members of the legislatur
outside of Memphis for their sympa
thy and cooperation in the passage O
these bills, and to Governor Marx
for his promptness in signing then
and issuing his proclamation. TIL
new government starts out withou
much present income, tits true, butfr
from debt, with right on its side and tn
confidence and hearty support of tn
people. The names of the men nom
mated by the governor and confrme,
by the senate, Porter, Guy and Burke
constitute tower of strength. Thes
gentlemen have never sought ofiic
and only accept it now as high an,
solemn public trust. No rings o
abuses will spring up under their ad
miAistration They have been sue
cessful in managing their own affairs
and may be safely trusted by the peo
pie. 1t now remains for the people o
Memphis to elect some strong ma
whose name is the synonym of hon
esty and business oapaeity to 6ll tn