Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1879-03-22
A Forty Cents Proposition to Settle the
State Debt Passed the Senate-The
New York BOndhOlders Refuse
Less than Sixty Cents-The
Local Option Bill De-
fiGted.


/ Special TO the Appeal
| NASHVILLE, March FL Senote-A peti
| ton was received from forty citizens 0
| Hsrdeman, praying that the taxes of tina
county be RENTED to aid in the completion
| OF the Memphis and Knoxville railroad be
| tween Henderson aud Bolivar.
Mr.. Wilson, tr2m the committee on tn
Torbett issue, submitted minority report
In 1t he says that Messrs. Wilt and Wat
klns, of the house, were assigned 10 investi
gate and see If evidence could be procured tt
establish the fact that these notes os thil
bank were issued in aid of the rebellion
These gentlemen, as | understand from the
report to the eh;irman, state that
no sufficient proof OF this faci
could be discovered, and have no desire tc
question their sincerity or the Lhorouguness
of their search. The facts are, go far as
have time TO disclose, about these: The State
issued tbr"e hundred thousand dollars 10
bonds t. a!d her In her attitude OF resistance
to the Federal government; the tank being a
State Institution, was compelled to take these
bonds and pay for them; IN dong so all of
It's circulating notes were absorbed TO meet
Its demand; In view Of this disposition of its
notes it pu; in ejaculation a lew issue.
After decided struggle ard attempts to
agree or vorions propositions for the adjust
ment Of the State debt, bill to Adjust at
forty cents on the dollar, and four per cent
Interest, was pa sed by the following vote:
AyeS-Anderson, Bsckerdite, B.b6, Bled-
soc, Grove, Lands, Roberts, Savage, SAear-
Gu, Smith Of Meigsl. FOLEY, Wilson, and
Speaker Neal-I3.
NOes-7IBrandon, Byrd, Clapp, D,isk,ll.
Ewing, Hanson. Miller, Morris, Moss, Pat
ton, S4mSell and Smith lof DavIdsouI
A motion to reconsider was tabled.
The senate bill to protect married women
in the rents and profits of their separate
estate passed third reading.
The house bill to prevent the purchase or
sale or deposit of urginned cyt;on after sun
set passed first reading.
The house bill to change The line between
the counties OF flee and Franklin passed
second reading.
Ssna!e bill providing tor the prepay r2lent
Of the STATE tax On Litigation, passed third
reading.
Ssna'e bill to repeal certain acts relating to
debts o. municipa' corporati9ne, pissed turd
read ng.
H0Hse- House bill to prevent Ire sale of
unginned cotton in small Iautiticg a. night
by footpad9, passed third reading.
The local option bill again came up, and
was this time finally defeated for want of the
constitutional majority of thirty-eIght. The
vote stood 81 to 81.
Senate bill to adjust the State debt at forty
cents and four per cent. interest, passed first
reading.
The resignation of Mr.. Snodgrass caused
asked to have spread on Rp GHg ZEE
having reference to the report which had at
first been denominatnd a supplemental report,
which words be alterwa,d eliminated, ahd
was decided cut of order and the chair sus-
tanned IN his ruling.
Mr. Snodcrsss this morning desired 10 have
some papfr spread on tile jeurna!, when the
spea ker declared it out Of orotr. Mr.. Snod-
grass then sent written protest against the
speakers ruling to the clerk desk, which
was ruled out of order, the speaker saying he
would entertain a protest against the petit
ton of the house but not against the ruling
ruling OF the speaker by vote of 80 to 10.
Mr.. Snodgrass then left his seat and pre-
sented his resignation to the governor.
The following dispatch from New York
was read in both houses tonight, and created
a startling effect among low credit men, and
especially in the house:
SPEAKER OF THE SENATE-Piease read
to the senate of Tennessee this our protest
against the GssIpl ption that compromise
with the creditors Of Tennessee can be effected
at fifty cents On the dollar; no offer of settle
ment other THAI the Coe award, modified
only as to rate of lnterest-say four Der cent.
for four years-can be carried with the bond
holders at committee meeting.
EUGENE KELLY, Chairman"
Upon the adjournment of the two houses
the members collected together in groups
and warmly discussed the dispatch. 1t Is
thought that the low-credit men will make
this pretext for no settlement at all.