The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1879-08-05
Collecting a State Debt.

SUGGESTIONS BIZ A UNITED STATES SENATOR.
GCorrespondcnce of the Nashville Americana
FRANKLIN, Tenn, July 25.-The event Of
the day for Franklin has been the discussion
between Senator James E. Bailey and Colo
mel John II. Savage, pro and con, upon the
subject OF the State debt. Senator Balleys
speech was fire plea for the honor, credit,
and dignity of the State and its people. !
will not attempt to give COMPENDIUM OF
the whole OF his argument, but the 1otloW-
ing is the substance OF portion OF lt ID re-
ference to a possible Hoce tnat m,gut pe
taken By the bondholderS for the collectlon
OF their claims against the State, which
think may be new and interesting to some
OF your. readers: -
lie said the Egyptian Government hao
become indebted to the inhabitants OF Ger
tain Eu,opean, countries, and the hhediFe
falling TO meet the interest thereon, the ma
tons holding the Egyptian bonds demanG-
ed of the Porte to remove the hneulle:
The Porte yielded and overturned that
Government. This was kind OF precedent
md mode; whether legal or otherwise,elh
which one nation had collected deot from
another. Now, he continued, both Dfahcpes
~ Conercss are in the hands Of the Demo
VI oro,s hut it is possible, even probable, that
thew NAV fall some day into the hands OF the
pa1uhlicans. The Republicans, or large
class of that party, believe in the sacrifice and
Sastrnc,ion of ali State-rights and interests
Sor the ACKNOWLEDGEMENT OF the General
Eove,nment. and regard the Government
NJ almost nation, and would so have
foreion Powers look upon her. Hence,
what is done by q. part OF the nation or
state should be looked upon as affecting the
whole. Some OF the bonds are held by her
Majesty Queen Victoria. What If Tennes-
mic
demand payment? The result would be an
official correspondence. What then? What
II the United States Government should
then undertake 10 collect the debt? How
could she proceed? Colonel Bailey here
read the fourteenth amendment, aud called
attention to the enforcement act, and said
that they would proceed upon the idea that
the State cannot destroy the property Of
any one, and must make all per-
sous secure in the enjoyment OF the
same under the United States Con-
stitution. This, be said, he believed
to be unconstitutional and illegal. But
had nothing unconstitutional and Illegal
been done hitherto? He had seen many
things done that, when he was boy, he did
not expect ever to see. He had seen the
negroes set free; he had seen freemen
marched about and tyrannized over with
the bayonets, and he had seen OF late bills
for the good OF the country unconstitution-
ally vetoed by the President; and he placed
J. little confidence in question OF constitu-
Z tionality under the CIRCUMSTANCES and in d
case involving so much, and 1t was in the
!. bounds OF possibility that we might see
Federal tax gatherers sent down who would
collect the 400 cents on the dollar, with 8
per cent. interest, to the last farthing. sa
ss..>e Colonel Savage scarcely :attempte rs an
swer one Of the arguments made by Colo
mel Bailey, making pretty much hIs FAspal
speech. His attack upon Colonel BaHeySs
record was highly amusing.