Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1879-03-28
Votes to Pay the BOndhOlders Fifty
Cents in a FOur Per Cent. Bond
The Convention Knocked in the
Head-What the Papers have
to Say About the Routed
Regulators.
Special to the Appeal. ]

Special to the Appeal
NASHVILLE, March 7.-Senate-Mr. Toll
ley introduced bill to provide for a consti-
tutional convention to settle the State debt.
Mr.. Patton said. with no disrespect to the
author of the bill, nor to the governor who
recommended such procedure, he could see
no necessity for such bill, and he was salts
fed that the people OF Tennessee did not de-
ARE a constitutional convention to adjust the
State debt, and he therefore moved to lay
the bill on the table.
Mr.. Byrd with emphasis)-l second the
motion.
Mr.. Tolley thought this was rather preci IL
tate, TO seek to kill the bill on its first read
ing. He would protest against such a sweep
ing and bloody code.
Mr.. Patton called the previous question on
his motion to table.
Messrs. Tolley and Patton excitedIy de-
manded the yeas and nays.
The cali for the previous question was sus-
taiued-yeas, Il; nays, 10.
The bill was then rejected, and a motion to
reconsider was laid on the table, thus ending
the matter.
Mr.. Byrd offered joint resolution proVid-
ing for the settlement of the State debt by
submitting to the bondholders a fifty cents
proposition with four and Ave per cent inter-
est.
The blk to provide revenue for the State
was amended SO as to xtbe State tax at ten
| taxable property for 1879 and for every year
thereafter, and to limit the levy by counties
for county purposes to thirty cents on the
one hundred dollars. The bill passed third
reading and was then transmitted to the
house.
Senate Joint resolution authorizing a settle
| ment with railroad receivers was adopted.
The following house b lis passed third read
ing: To require the supreme court clerk to
pay over to clerks of inferior courts money
| ana fees due them, upon certified orders.
| To amend the act allowing purchasers of
| turn pixies further time to complete repairs OF
/ roads, with the provision that the benefits
are not to apply to companies that charge
toll to persons going to church, to mill, or 10
election. To prohibit speculation IN witness
/ fees and other fees Of attendance IN courts.
| To provide for tae sale OF Bolivar male aead-
envy. To repeal the act Incorporating Bethel
| Springs, Il Marry county. 10 make Provls-
ion IL the code prohibiting disturbance OF
public worship Apply to meetings In the cause
| Of tempe auce-
The senate resolution rendering the use of
| tine supreme court room to the State medical
/ association was adopted.
| Both houses adopted a resolution rendering
| sympathy TO Mrs. President Polk, who was
| too indisposed to give reception to the legis-
| lature.
| H0use-Probably the most noticeable iea-
| ture in the house was the speech by Mr.. But
/ Ter, who urged the house 10 adopt the fifty
| cents amendment offered by Mr.. Stovall the
| day previous.
Mr. Gregg desired to know what was the
difference between taking fifty cents AMI
sixty cents.
Mr.. Butler said that the difference was this
/ That if the legislature going to rob
| creditors it should at least give them half.
| The Democrats had stated that the peo-
/ pie would not indorse the fifty cents propo-
/ I,,,E ha WILLING m
submit it to the people and let then, decide,
and not the legislature. what they were will
ing to pay. The bonds had been recognized
| by every mode known as being sacred and
binding, until this agitation came up, until
somebody was to be made governor or United
States senator, by discovering there was
something wrong about the issuance of these
bonds. It had been asserted that he ought
to receive Messrs. Lester and Gardner into
his church. His church was for the sixty
cent proposition. 1t was tina proposition thai
came from the men who were owed. If they
could compromise and settle the debt, he
would gladly cooperate with such distln-
guished gentlemen as Messrs. Lester
and Gardner, the latter In the even
ing OF life, and who was, perhaps, for the
last tune occupying public position, IN which
he had done SO well and|who had entreated
his party not to commit so suicidal an act
and not to bring disgrace upon the State
which had honored him. If they did moi
settle the debt, he was not prophet nor the
son of prophet, but if they did not submit
| proposition that the people would ratify,
Republicans and State credit Democrats
would go together and wipe them out. The
| fields had been heard from, and the senti-
| ment was an honorable adjustment of the
debt 1t was not the State tax that the
people complained Of. A gentleman had
told him that out of tax on four hundred
dollars his State tax was only eighteen
dollars. If the State debt was not set
tied, the majority of the house would be
held responsible. They ought to forget tina
they were partisans and settle the debt al
| citizens.
Mr.. Haynie-WIll you pledge your part.
to vote for the fifty cents propositions
Mr.. Butler-I have no party to pledge;
will pledge myself, and believe that nine
tenths of the party to which l belong would
do the same thing. Will you come up anc
vote for lt2
Mr. Haynie-No, sir; will not.
MIR. Butler-Well, why do you ask Other
people to do what you will not do yourself
His people were willing to surrender some
thing to settle the debt, and they ought t.
settle it and take it out of politics and no
have the convention-that would cost tn
people thirty or forty thousand dollars, ant
that would be bubble, child's play.
Mr.. Stovall's fifty-cents amendment wa
adopted-39 to So.
, Mr.. Fowlkes offered the following: "Tha
inasmuch as the railroad companies propos
emptlons from taxation and pay an annua
tax of one hundred thousand dollars by thei
J written communication to the governor
therefore,
'Resolped, That the railroad companie
| shall, together, pay into the treasury, begin
7 ming with the year 1879 one hundred thou
: sand dollars, to be due and payable as othe
| tayao. cold he ta6 hot
companies according to their present 0
any future assessed valuation; but
= at any time the assessed valuation of thei
property should exceed the amount which, q
any time, under the regular State tax levy
will yield larger amount of revenue tina
t one hundred thousand dollars, then said rail
= road companies snail Go taxed as all othe
property may be taxed. Said sum of on
5 hundred thousand dollars, and such sum i
n excess thereof, paid by said railroad compa
: MES, are to be appropriated to the hauidatio
i of the public debt" Adopted-yeas, as
!, nays, II.
$ ment: ''That the proposition to settle th
Il \ States Indebtedness contained In this or an
: other bills that shall pass, shall not be sui
mitted to the voters of the State, nor a leg
islature convened, until the governor sha
communicate with the bondholders or the
u chairman, notifying them of the action
d the legislature, and when he shall nave o.
Is tanned an acceptance of said proposition trol
i an equal number in amount as now propo'
r to take sixty cents on the dollar and six p'
), cent interest" Adopted-4l to 80.
J. The bill then passed third reading
/, to "a.
d QUESTION FOR SAVAGE.
70 Columbia Tenn Sentinel: Senator Sa
l. age says FIVE million dollars would buy Of
W supreme court. How much would it take
e buy this Legislature? Colonel Pryor and M