Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1879-01-08

al assembly; it involves the honor and |
good name of the State, the credit and 1
honor of every one of its citizens it is
a liability that was voluntarily contrac-
ted, and whether it was wisely created I
or not, cannot now be a question. l /
hold, and have always believed, that |
in the light of moral and legal duty, as
a question of commercial honor and of
State pride, the best settlement of the
debt for Tennessee would be to pay the
entire debt according to the terms OF
the contract; this would be heavy
burden, but when it became oppres-
sive a temporary suspension of the
interest of payment could be made,
and with return of prosperity, with
a moderate increase Of population and
a reasonable development of our re-
sources, now in full fruition, the
whole debt could be paid without Sc
riOus embarrassment to any one, But
the creditors themselves have relieved
the State of the necessity of providing
for the entire debt by offering such an
abatement of the principal as to bring
its payment within the ability Of the
State, without making it burdensome.
In December, 1877, certain creditors of
the State proposed to adjust that part
of the debt held by themselves, upon
a basis of fifty cents for principal and
past due interest, and offered assur-
an,es that the great body of creditors
would accept the same terms the pro-
position was submitted to an extra
session of the fortieth general assem-
bly,, and its acceptance earnestly re-
commended. | am satisfied that the
creditors making this proposition
would still make the adjustment
settled at fifty cents, tie debt would
amount to $l2,137 100000 the annual
interest upon this sum, at six per
cent, would amount to S728, ,220.00. /
do not hesitate to again urge the ac-
ceptance of the proposition.
cannot be mistaken in the opinion
that the people of the State are anx-
ious to be delivered from farther dis
cussion Of this question and from a
longer postponement of its settlement.
| If this recommendation is adopted,
the comptroller should be invested
with authority, after day to be fixed
by law, to make publication, with no
tice to financial agents of the several
counties, announcing the number of
old bonds returned and cancelled, with
the number of new bonds issued, and
the amount of revenue provided to
meet the interest, with the amount
assigned to each county; upon this
publication and notice, the County
Courts should be required to make
the necessary levy to meet the interest
without further legislation.
LIEUT.. H. II. BENNER, U. S. ARMY,
commanding the relief boat sent ou
by the citizens of the Northwest t
supply the wants of the yellow fcvel
sufferers along the line of the Missis
sippi river, died of the fever at Vicks
, burg, Miss, on the l7th of October
! last. The expedition was moved b.
the noblest philanthropy, and sus
tanned by a courage that has excited
the sensibilities of the entire country
Tennesseeans were benefciaries of thi,
enterprise. 1t would be becoming
therefore, in their representatives t
: notice in fitting terms the death of iii
heroic commander
! STATE AID TO YELLOW FEVER SUI
6 FERERs.
During the prevalence of the lat,
epidemic the treasurer of the State
: under my advice, expended S497l.7
] of the public money in the purchas,
i of supplies for the sick at various
points in the infected districts. Vouch
: ers for the expenditure are in tin
;. hands of the treasurer, and l respect
fully ask for an appropriation covering
the amount of it.
contributions
, for THE yellow fever sufferers wer,
sent from all parts of our own State
i, And from the imperial city of New
z York down to the most unpretendiny
, village in the land. from Canada anC
! from the old world, golden gifts wer,
: made for the reliefofo our sick and des
titute, with overfowing generosit,
. that claims recognition from the rep
resentatiyes of a people upon whom
these timely benefactions were con