Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1879-03-06

i SZUU,UUOsUUU OF HtUUSn tO6UNH IN Jne OLdt
which no system of taxation ever does reach
Now, sir, suppose that the case were that O
a commercial firm, or a manufacturing com
| pany, or railroad company, and that W
eliminate the superhuous units In the sum
The statement would then be to the creditors
viz: We are indebted $4,000, equal Il
cash, because 1t bears SIX per cent. interest
Our assets are of interest bearing demand
due TO US for rents, ETC., IN value about 500,
600, producing an income per year OF ST., ON
to $4,000. We find it somewhat incon
venient to pay $1,000 per year In the way o
| interest and furnish means for other demands
| against us, and we demand reduction of the
debt to $4,000, so that less than $500 will paI
| the interest per year, and at the same tint
| we would retain all the assets mentioned il
| our exhibit and all other assets in our OWE
control, and you accept our promise to pay
| the interest at six per cent. on the debt as
| compromised to $S000." Would you OF
/ would any other very sensible man consider
such a vile proposition for one moment?
know you would not. Now suppose
the debtor is a Tennessee farmer, and
| that we cut off unnecessary figures. His
| statement will be, 81 owe $3.50, which bears
six per cent. interest equal to $3.50 per year
| My farm may be worth much, but with all
my efforts | get only $1,000 per year after
paying all demands, and you must reduce
my debt to $50, so that 81 so will be the in
terest have to pay per year" Should his
| demand for reduction OF debt to $50 COM
mand any respect? Certainly not. Now let
the debtor be a workingman. His debt by
the same rule is $l6, and his production,
after paying family expenses and all other
demands, IS 5000 per year. He, too, de-
| mands reduction OF debt to IS, so as not to
have to pay more than forty-eight cents in
terest per year. Would you grant this fell
lows prayer? Not at all. But If he had a
good woman for wife you might send pair
of chickens and tell her to sell eggs and pay
the forty-eig cents, and not allow the dis
grace of the family. Yours, most truly,
BYRD DOUGLAS.
COLONEL JOHN C. BURCH's DENIAL.
Nashville american: The following sworn
statement of Colonel Burch was received
from Washington yesterday and is now on
file with the testimony taken by the COM
mittee:
WASHINGTON, D. c., March l, 1879.
Hon. S. F. Wilson, Chairman, ETC.:
SIR have been informed that General
Joseph A. Mabry testified before the legisla
tive committee, of which you are chairman,
that in 1868 | wrote articles for the Press
and Times Ia newspaper then published IN
Nashville), to aid in his bond speculations,
and that | also manipulated the ''press dis
patches" for the same purpose, and that he
paid me therefor about two thousand dollars.
| desire to state, IN reply thereto, that Cen
eral Mabry IS mistaken In his statements. 1t
is not true that | ever wrote articles for the
Press and Times, for Mabry or for any one
else, for any purpose. 1t is not true that l
ever manipulated the press dispatches for
Mabry or any else else. 1t is not
true that he ever paid me anything
to write articles for the Press and Times or
any other paper, nor did he ever pay, or
agree to pay me anything to manipulate press
dispatches. Mabry has COMPOUNDED in his
hpfyUoQn aft
ney and client, or rather between me as attor-
Dey and him as the agent of my clients.
From the time of my return to Nashville, in
1865, until September, 1869, | devoted myself
exclusively to the practice of law. had, in
that time, no connection whatever with any
where. In September, 1869, | resumed edi-
torial control of the Union and american,
having been its editor previous to the war.
While devoting myself exclusively to the law,
l was employed by General Mabry to bring
one or more suits against the city of Nash
vile, on coupons or warrants, or both, in the
Federal court, in Nashville, and also to file a
bill in the same court against the comp
troller or treasurer of the State, one or
both, in the name of parties resident in
New Jersey or New York, as | now remem-
Der. The records ct these suits may be found
In the Federal court in Nashville. In the
former large judgments were obtained. The
lar suit which had been begun in New York,
may have been intended by the plaintiffs to
assist IN bond speculations. For these legal
services, and these only, did | ever receive
any compensation from General Mabry. The
amount was about two thousand dollars. 1t
is probable that while he was in New York
may, IN correspondence with him, have said
what | thought of the prospects of the bond
market. If | did, never charged nor re-
ceived anything for such service. | never
was In either hall of the legislature during
the Brownlow administration, and took no
part whatever In Influencing In any way State
legislation on bonds or other matters. Mabry
at one time handed me fifty dollars to give to
a gentleman residing In Nashville, Repub-
lican, now dead, to have an article inserted
in the Press and Times and transmitted to
New York, which | did. That article |
may, at his request, have written for him,
though | do not now distinctly remember.
but received no part of the money. | did
not know either one of the editors of the
Press and Times, and never had any COM
munication with either of them while that
paper was in existence. The Press and
Times was vituperatively Radical in its poll
tics, and l had nothing to do with it, and
presume could not if | had desired. The
Associated Press agent, now dead, was VIM.
Henry Smith, one of the purest and best citi-
zens that Nashville ever had, and who was
press dispatches manipulated, as any man
that ever lived. The proprietors and editors
Of the Press and Times, and of all other
Nashville papers are, | believe, now living
and easy of access, and can, if your commit
tee desire, be examined upon these points. |
expect to he In Nashville on the seventh or
eighth instant, when the committee can, if
they WISH examine me upon these matters.
In the meantime | ask that this shall be
fled with the testimony of General Mabry
JOHN C. BURCH.
BIRDS BEFoULING THEIR OWN NEST.
Nashville american; The most extraor-
binary part of this report is its treatment of
our past history. We are informed that "the
greater part of the present debt Is the result
of vicious policy and corrupt legislation,
superinduced by the various corrupt bodies
interested in securing aid from the State
Not only the reconstruction period, but the
entire internal improvement policy of the
State, from 1s51-and, in fact, from 1884
to 1861, and from 1860 to and including
1873, are involved IN this sweeping denuncia-
ton. What are we and from whom are we
descended, and what can we expect that is
good of ourselves, when forty years of our
history has been one uninterrupted current
OF vicious, corrupt and stupidity blind and
laundering policy2 1t has been
fashionable to attack the postwar
debt, issued by those the great body of
the people Justly 1elG mlsrepresented them;
but this report involves all. We are to learn
that our ancestors permitted and our states
men engaged IN vicious policy, and never
complied even with the acts passed in pursu-
ance. Manifestly the only way to make a
clear avoidance of the ante-war debt, issued
under the act of 1852, and those succeeding,
was to declare that our statesmen pursued,
for near thirty years, a vicious policy and by
inference, either the people were also as Vi
ciously inclined, or we have had no republic
can government In this State since 1888; for
about that time began the internal improve
ment policy, 1t was not, as stated in this
report, a policy 'tsuperinduced by
various corporate bodies interested
in securing aid from the State
1t was a policy inaugurated by the constitu-
ton of 1884, by a convention composed of the
ablest and purest of statesmen, representing
an aspiring and progressive people. 1t was
recommended by each successive governor,