The Morristown gazette. [volume] (Morristown, Tenn.) 1867-1920, 1879-06-11
GOV, MARK S REPLY.

Hon. John A. Gardner-Dear Sir
Within the past few days / have re
ceived several letters propoundine
to me the same questions embraced
in your letter of the 18th inst, and
while deem it my duty, as the Exc
cutive officer of the State, 20 abstain
from any general discussion of the
subject of the settlement of the State
debt, yet I am willing, upon all pro-
per occasions, to give the reasons for
my official action and to declare my
views upon all questions affecting
public interests,
In responding to your first inquiry,
l take leave to call yeur attention to
the fact that there was q serious di-
vision in both houses of the General
Assembly as to whether the bond
holders should be consulted at all in
relation to the proposed adjustment.
By the provisions of the act propos-
Jag an adjustment of the debt, Twas
charged with the delicate duty of
determining the question Of fact of
acceptance or non-acceptance on the
part of bondholders. In order to
determine this question of fact un-
der the provisions of the act it be-
came necessary fer me to ascertain
the amount embraced in the PROPOSE
ton of sixty cents, and whether
there were bondholders owning an
amount equal to the amount en-
braced in the sixty cents PROPOSE
tion willing to accept the proposed
adjustment. It was impossible for
me to ascertain, by personal inves-
tigation, the amount actually repre-
sented in the sixty cents proposi.
tion, and it was also impossible for
me to confer with the boudholders
personally and ascertain whether
they were or were not willing to &C.
cept the proposed adjustment.
1t became necessary, therefore,
for me to entrust this investigation
to others, and / assumed that 1T was
my duty to select as agents TO make
the investigation gentlemen who
were known to favor the CLAIM of
the bondholders to be heard in any
adjustment which might be made, in
order that the bondholders might |
have no occasion 20 complain that
they had been misrepresented.
These agents proceeded to New
York and they were followed by a
citizens committee composed of
prominent gentlemen, all of whom !
recognized the claim of the bond
holders to a voice in any adjust
ment made, and after an investiga.
tion, and after a conference with
the bondholders, they returned and
unanimously reported that the re.
quirements of the act had been fully
met. With this plenary evidence
before me that the condition of the
precedent prescribed by the act
had been complied with / had but
one course to pursue and that was
to submit the adjustment to the peo-
pie for their ratification or rejection
at the ballot-box. In order that the
people might have full time for re-
iection and favorable opportunity
10 cast their votes. / ordered the
at once and selected the or
IInary election day for State officers
for the vote to be cast.
The inquiry as to whether if the
people ratify the proposed adjust
nent. it will be a finality, is easily
The act provides that
,he Legislature shall prescribe a
specific period in which all bond.
lolders shall tender their bonds,
Ind all bonds not presented in the
line prescribed will. of course, be
excluded, aud hence the proposed