The Morristown gazette. [volume] (Morristown, Tenn.) 1867-1920, 1879-08-06

uOu6sLy. W nllS ne may nave mhu'
mistakes and listened sometimes Z
unwise counsels. he was personally
an honest, upright man. Senator
Bailey then discussed at length the
compromise upon which we are ask
ed to vote on the 9TH of August,
giving the reasons for his advocacy
Of that measure. This debt must
be settled, if the people of Tennes-
see would win forthe State that posi-
tiOn among her sister States which
every Tennessean desires that should
occupy. If her credit and standing
are maintained it must be by a strict
adherence to those rules which pre-.
vail the world over among the hon
orable and civilized nations and peo-
pie. The very existence OF peo-
pie depends upon the preservation
of public credit, and the preserva.
Of that credit depends upon the OBJ
servation of those rules which obtain
in the world of commerce. Believ
ing this to be true and that the cred.
it and good name of the State can
be preserved aud her reputation es.
tablished by the ratification of the
5O-4 compromise, be favored that
measure. He had thought that we
we're able to accept the COG offer
and had advocated its acceptance.
He still thought that it should have
been accepted, as a matter Of policy,
but the people had not agreed with
him and he had bowed in submission
to their will. He was forced to re.
gard the facts as they now present
themselves and, under the circum-
stances, he thought it best for the
State and best for her creditors that
the compromise be ratified and
carried out.
We have attempted to merely out
line the statesmanlike effort to which |
our people had the pleasure Of listen.
ing. 1t was a dignifed aud able ef- |
fort and one calculated to do good /
work for the cause which Senator |
Bailey represents.
Hon. A. II. Pettibone was next |
by Col. Gaut. In com.
nenciug his remarks, Maj. Pettibone /
quoted from the history Of England
5he reason given by Macauly for her
proud standing in the commercial
world-that she had kept her CON-
nercial faith with all nations and |
peoples, and had never suffered her |
honor to be called in |
question. Maj. 2. gave an eloquent |
and complete history Of the bonds |
now outstanding and which the State
IS asked to pay. There was no
loubt Of the existence OF the debt.
1t was Weighing US down and retard-
ng the progress Of the State and |
We must be relieved Of the incubus /
n some way. The people of Ten
aessee, he believed, were determined |
10 follow an honest course in the |
matter, and that course was pay
nent. He had favored the payment |
Of the entire debt, believing it to be |
Justly due, but he had come to the |
that there was only one
course open to those who favored an
lonest settlement of the matter, and
hat was the ratification Of the 50.4
He had give his sup
'ort to that measure, because he be-
ieved it to be the best possible set.
lement now open to us. Want Of |
pace will prevent US from giving |
wen an outline OF the very eloquent |
md able speech delivered by Mai. |
'ettibone. 1t was the effort of a
representative Republican and as
iuch carried conviction to the minds |
# his lparty friends aud associates.
lie urged the ratification of the COM
,romise with characteristic vigor
md eloquence and was heard with
he greatest interest.
Both speeches were able argu-
nents from representative men and
IS such cannot fail of effect. The
anne efforts made all oyer the State
would fix the result OF the ele ction
,eyond a doubt and after the 9Th Of
August the people Of Tennessee
would once more find themselves
lpon a substantial and prosperous
inancial basis. The work already
lone, fortunately. has been suffici-
mt to effect that result, thanks to
he efforts of such men as Messrs.
Bailey and Pettibone.
A Literary Avalanche.
An enviable fame among people who