The Bolivar bulletin. [volume] (Bolivar, Hardeman County, Tenn.) 1865-1888, 1879-07-24

affords a summary mode OF enforcing the
debt-in the other, the debtor Is exempt
from suit, and the debt can only be enforced
by the sense of Justice and honor residing
in the hearts of those who keep the con-
science Of the State. The accursed word
population ought to be eXpunged from the
vOcabularies of the English tongue as a |
phrase obsolete in all human transactions,
as applied to honorable obligations. But to |
neglect" or "ignOre" a public debt and |
is of itself sort OF repudia- |
ton, but little less disgraceful |
than an absolute defiance of the creditor
and refusal to pay. 1t has been manifest
for years that the shrinking in values-the
Prostration of all industries, and general
impoverishment" in this State have rem
deTed the payment of the public debt an i'm
possible thing at this time-and if the
creditor cannot abide the distant day, which
| have trusted in God may come, when the
uttermOst farthing may he paid, then the
compromise of burthen too grievous 10 be
borne, is quite as honorable among States
as among individuals. l am not politi-
clan, nor do l desire to be, but if ! were the
cardinal principle of my action would be
light burthens for the people ''until
these calamities be overpast," but
at all times and in all
places, a high standard of integrity for the
State. In declining, last summer, friendly
demand that ! should enter political life, 1
said to one of NV correspondents: aft |
could find it consistent with a higher and
holier duty, would gladly take this ban
ner of the people in my hand and endeavor
to rally beneath it the good and thoughtful
men of all parties-the rich and the poor,
the lofty and the lowly, and, with their help,
would rescue the honor of this great Com
mOnwealth from the degradationwhichth threat
ems it, as the priest and the prophet OF old
81 ~ l. 1t bo
of God. The great matter that confrOnts
us is, what shall be done with the public
debt? What can statecraft do to alleviate
the condition of the laboring pOor-to give
them employment, food, raiment, just COM
pensation for their labor? This Is the prob
lem for the statesman, and l declare to you,
that while all must deprecate the lawless
spirit of some of our recent labor strikes,
yet my sympathies go out to the law-abiding
poor, who illustrate the highest type OF good
citizenship by brave and quiet endurance
of their suffering and their wrongs. 1t is no idle
| illumination TO repeat the hackneyed words
that since the late unhappy war
| the Federal legislation OF this country,
whether so intended or not, has tended
| directly and palpably to make the rich
| richer and the poor poorer. 1t was great
| calamity to this country that the turbulent
| politicians, who have for SO many years con-
| trolled the Federal legislation, were
| sedulOusly engaged during the civil war, and
afterwards, in putting money in their
purses, and that they have invested their
| large acquisitions in securities of the Fed
| eral Government, and that having the OPP
portunity to legislate for themselves, they
have simply done it. This is the
| cause of all your labor strikes,
and of the sullen discomfort OF the
| laboring classes. We have no dearth of in
dustry when labor can be had. What we
raIr foF
that breeds unhealthy speculation and dis
| aster. We do not want the Government to
give away its money to the idle multitude,
but want money enough for the commercial
and indus trial occupations of the country;
and we want the Government, by a liberal
system of public works, to put it ont through
the common channels of rewarded industry.
At this time we have but half enough
money Let it be greenbacks, if you please,
good as a Bank of England note over the
world; and Tor the trade money
of the people, let the gold and
silver dollars jingle again, as equals, In
your purses as they did in the good times
past. Then, and not till then, will you see
good times. Let the banker bank upon the
greenback and the gold aud silver coins ss
co-equals-and let the Government have its
fiscal agencies judiciously distributed among
the nations, as England has, and then the
Treasury note would be as good in Europe
| as the Bank of England note is oday. But
| what shall we do with State taxation and
the public debt? the little tribute the
citizen pays to the State III the way Of
taxes should always be regarded as
preferred debt, after food and raiment
to his family, first to be paid, because it is
the consideration he pays for the protection
of the law Without taxation YOU can have
no government to protect you, and without
the protection which this odiOus thing tax
alton secures things would lapse into con-
dition like that OF the civil war, when most
men recognized no difference between the
property Of their neighbors and their own, and
helped themselves with a strong hand when
ever they felt like it. Hence the citizen
should consider his taxes as a sacred debt,
and first to be paid. Now, how and
when is the public debt of this State to be
paid? 1t has to be paid by taxation; but as
whole, it cannot be paid until the people
have recovered from the impoyerishment OF
desolating civil war and other kindred
| scourges and become able 10 bear the neces-
sary burthens II had as we'll be understood
by our creditors first as last, as a fact, that
at this time the wealthiest classes OF our
people are too poor for high taxes, and the
poorer, alas! too poor to buy their daily
bread. But yet this debt, whose rapid ac-
cretion will ultimately destroy US if neg
lected, must be provided for now. A plan may
be devised and upon q reasonable and unOp-
pressive tax by which the interest on this
debt may be promptly met, and the debt it.
self ultimately and utterly extinguished. Ifit
be possible with such burthen upon us that
immigration and development may in the
time to come add their millions to oar tax
able wealth, will not the creditor wait until
that suspicious time? Ii he will not, then
it is honorable to compound with him-but
it is honest to allow him to dictate the
terms If we can pay that amount all right.
If we cannot, then let the principal of the
due debt stand suspended until it
can be paid, or until a better compromise be
offered. If it be sixty or fifty cents, all
right; if thirty three and third, better still,
and if at twenty, the best of all, SO that the
creditors are willing and the people able"
| said to my correspondent, in conclusion:
There is one thing, however, that l would
have distinctly understood; if the great
mantle, which l now positively decline,
should ever, by any chance, fall upon my
shoulders, / will suffer my right
hand to be palsied before | would
give my official sanction to
any act that brings even the accursed blot
of quasi Reputation upon this glorious and
beautiful Commonwealth. The question of
discharging public obligation is too sacred
a thing to be committed to the polemics of
the demagogue, whose millennium always be
gins with the decadence of public honor.
The question is only one of time and
ability. When able to pay, we 1rU pay, and
while unable, we should at least show a dis
position to deal hOnOrably, and thus retain
that richest of jewels in the coronet of
States an I1ntarDished bopOr