The Bolivar bulletin. [volume] (Bolivar, Hardeman County, Tenn.) 1865-1888, 1879-07-24
THE 5O.4 COMPROMISE.
UnansWerable Reasons Why 1t Should
Be Accepted.
I.elser from senator Isham G. Harris.

LeIse- from senator Isham G. Harris.
MEMPHIS, July Il, 1879.-Nathaniel
Baxter, Jr. Esq-Dear Sir: Yours of 9TH
inst, asking that / authorize certain APP
pointments to be made for me to discuss the
question of the State debt, was received by
due course of mail. / have postponed
answering until now, hoping to be able to
so arrange my business matters as to comply
with the request, but find that business
engagement, already long delayed by my
detention at Washington, will compel me to
go Immediately to North Western Texas,
and l will not be able to return in time to
engage in the canvass.
This regret, because I regard the settle
ment of our State debt upon the basis of the
pending PROPOSE ton as paramount in i'm
pOrtance to all other questions affecting the
interests of the people of Tennessee.
II we intend to pay anything upon our
debt, we certainly ought to be willing to pay
fifty cents on the dollar, with four per cent.
interest, and that we justly owe at least that
much cannot, in my judgment, be denied in
any view, legal or equitable, that can be
taken of the question.
If this proposition is rejected by the vote
OF the people, we inevitably drift, nay, we
will have already drifted, into Reputation,
while if it is ratified by the people and the
payment OF the four per cent. interest pro-
vided for by the Legislature, have no
doubt that in less than twelve months every
bondholder will accept the terms, and we
will have settled forever this vexed and
troublesome question, and so reduced our
debt and the rate of interest upon it as to be
able to pay both without serious incOnve-
nience to any OF the great interests of the
State.
1 repeat, in any view that can be taken of
the question, we justly owe at least as much
as One-half of the amount of the face OF our
bonds, and owing it, every consideration OF
honor, duty and pecuniary interest demand
that we should pay it.
l have never ewned or been in any way
interested in a bond of the State, and have
no interest in the question exCept such as is
common to every citizen; but in my judg
ment Tennessee can much better afford to
undertake TO pay the whole debt than take
upon herself the manifold evils which must
result from reputation.
therefore hope, earnestly hope, that these
evils may be ayerted and The good name of
the Stale preserved by the ratification OF
this proposition by the votes of large ma
jority Of the people. Respectfully,
IsHAAI q. HARRIS.
JACKSON, Tenn, July 7, 1879.-Judge
John l.. I. Sneed-Dear Sir: Your many
friends in this part of the State very earn
estiy desire the benefit of your mature wis
dom and patriotic counsel in relation 10 the
proposed compromise of the State debt. If
your personal affairs would admit of yOnr
delivering public address upon this vitality
important question, at an early day, that
method would be preferable.
II that is impracticable, feel that l but
speak the desire OF your many friends all
over the State, in soliciting your views for
publication. 1t would be most natural for
you to prefer the tranquil enjoyment of
private life, tree from the disquietiDg in
tiuences of political discussion, after your
long and faithful public service, but when
dangers threaten the State the public mind
naturally turns to men of wisdom, honor,
courage and patriotism for counsel and adj
vice.
Every man who has brains enough to in
intelligently perform the duties of either
ship, and heart enough to feel the emotions
OF patriotism, knows that a grave crisis Is
now impending, which must in a brief pc
riod eliminate in the veal or woe of the
State. In this crisis idleness Is incOmpat-
ible with patriotism, while honor and cOur-
age will refuse to seek a refuge in silence.
The friends of the measure must force
the conflict upon the merits of the
question. Facts and reason are their
proper weapons, while those who
oppose must substitute assertion for the one
and abuse for the other.
The intelligence of the State will look for
counsel and advice to those whom they have
honored with public trust in the past, and
found them brave, wise, patriotic and
honest, and they will only heed and respect
the advice of such counsellors. The great
issue is shall this question be put at rest?
If this opportunity is lost, when and how
will solution come? Who is it that pro-
poses to stand surety that the State shall
suffer no harm? What right have we to put
to shame the bright history the fathers made
for Tennessee? 1t is easy to preserve the
honor and glory of Tennessee, but it will be
hard to restore them if once they are lost.
The strenuous and persistent industry of
evil counsellors, and the short time remain
ing to discuss this question before the peo
pie, prompts the hope that you will make
an early response. Very respectfully,
B. A. ENLOE.
Letter from joins l.. II Sneed.
Hon. B. A Enloe: recent illness has
put it out of my power to respond otherwise
than through this medium to your letter of
the 9TH instant and to several other invita-
tions now before me to address the people
upon the subject of the public debt settle
ment now pending for popular vote under
! the act of 1879, Oh. 204. A respectful defer
ence to your own and the wishes of these
friends, however much they may overesti-
mate the value of my opinions, will be ac-
cepted, l trust, as a sufficient excuse for this
intrusion before the public. The question
| Is, indeed, of so momentous q character. and
so vital to the common veal and honor Of
our people, that no man whose opinion is
demanded has a right to be silent, and no
citizen has right to stand neutral.
l am not a bondholder, or the son of a
bondholder, nor am l the agent or attorney
of any corporation or individual who holds
the securities of this State, and in this ques-
ton have no shadow of interest save that
which is common to every man who loves
this Commonwealth. Nv motives, therefore
cannot he impugned or suspected, when
declare that in my judgment it will be a
rad day for the future of this State if this
proposition be rejected at the polls.
1t is neither strange or unnatural that the
people of this State, in view of the calamI-
ties which of recent years have befalien
them, 81 o I'D be FESTIVE and discontinued,
under the exercise of the taxing power.
And vet taxation is that attribute of
sovereignty which, in the government of
States, cannot be pretermitted without self
l. IL