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

Nashville Banner: "Hon. Mr. Mathes in
troduced a resolution in the house of repre-
sentatives to-day, providing for the appoint
ment of board of State debt commissioners.
1t provides that the governor shall appoint,
with the consent of the senate, three COM
missioners, to be known as the Board of
State Debt Commissioners, who shall be cit
liens of the State and thirty years of age; to
take into consideration the origin and his
tory of the State debt; to report to the gov
efnOr, or to an extra session OF the legisla-
ture, the result of their labors, together with
such suggestions as they may see fit to offer,
in regard to far and honorable adjustment
OF the State debt; the first named member
to be president and to receive for services
one thousand dollars, the other two to receive
each five hundred dollars, with a clerk whose
compensation shall not exceed four hundred
dollars. The commissioners may visit New
I FORK and other cities to confer with bond
holders; to make or receive proposals In refer
ence to settlement, but shall not have power
to bind the State. They shall take an oath
themselves and shall have the power to ad-
minister oaths when taking testimony. The
committee on finance, ways and means to re-
port as an item of expense sufficient amount
to meet the expenses hereby incurred"
AN INSULT TO EVERY DEMoCRiTIC ADMIN
IsTRATIoN IN THE STATE.
The committee of the legislature to inves-
tigate the State debt has reported. 1t has
been in secret session about month. The
report has nothing new in it, whatever. 1t
consists mainly of an attack on the financial
policy of the State since 1888. 1t charges
every governor, every comptroller, and
nearly every legislature during the past forty
six years, with gross irregularities and vio-
latiors of law. 1t is a wholesale condemna-
ton of all the State administrations of Ten
nessee since she began her system of internal
Co.,.
with an additional spice vltuperatIVe assault
on those from 1865 to 1870, the latter beng
only worse in degree than the others. The
american thus closes clear and vigorous
article on this singularly be-mundled and in
complete document:
There Is NO installing its tendency, but
the reader will note that it is incomplete and
indecisive as to the points touched, that it
Lamps Obligations IN way astounding In a
paper dealing Yith the rights of others. 1t
does not point out specifically What bonds it
would hold void for a failure of issuing gov
ernors to comply with the law, or what bonds
It would avoid for fraud or undue influence
In their procuration. These and other crudi-
ties will be noted by the close reader. Can
the Legislature act IN dealing with rights,
upon such report and give Judgment of
avoidance upon bonds which are not specific
ally pointed out? Can the people act upon
it and give judgment9 1t Is another demon
stration that the men who are seeking to deal
with this subject must retire and give place
to somebody who can"
We have neither space nor patience for
elaborate comment on this last performance
Of the Legislature, whose every act and record
in reference to the one great question before
them has been an exhibition of the high art,
chow not to do it.
THE LOGIC OF REPUTATION.
Nashville american: We are permitted to
publish the following suggestive letter from
leading merchant of Nashville to Senator
| Sagage:
l NASHVILLE, March l, 1879.
Colonel John H. Savage:
In reply to your favor of yesterday, please
allow me, as best as I can, to illustrate the
preposterousness of desired adjustment of
our public debt on basis of 331 cents per
dollar. Suppose our State debt to be $24,-
900 900, July l, 1879, exclusive of the large
sum of back taxes due, and the 100000 IN
the treasury collected to pay interest, and not
applied TO such use, and suppose all our