The Bolivar bulletin. [volume] (Bolivar, Hardeman County, Tenn.) 1865-1888, 1879-07-24

Z
Governor for SIS. Gentlemen on the other
side should cease to distribute the slime of
Islander and stop making assertions or begin
to make proof. 4# 2
Mr.. Thomas, he said, evidently belonged
to the dark-lantern, Know-nothing party.
and held to the doctrine Of the American
lndian-that no more people should come
here. lie had understood that MANY sons
of the Emerald Isle, that gem of the ocean
which had furnished warriors and statesmen
10 the world, had settled around McEweu
and were here, as everywhere good Demo-
Gratis, men who pay their debts and are good
industrious and reliable citizens Did MIR
Thomas want to drive them away from Ten
nees5ee? Did he want to exclude others who
might want TO Gomez Did he want to drive
the thrifty Germans from our cities and
villages, aud shut ont the world on his re-
markabie doctrine of homogeneity Of popu-
latiOn? lie did not believe in this know
nothing houIogeneity doctrine, bat was in
favor of making This country the asylum of
the oppressed of every country. Invite
them To come and make their homes with us,
help az develop our country, bring our va
cant lands into cultivation, engage in
mining and manufacturing and help us to
pay our debt Ii is perfectly consistent with
the doctrines OF the opposition to want 10
shut oil the world, turn our hands against
1T and have IL turn against us. The rail
roads and immigration have made the lands
around McEwen worth ten dollars per acre
when it was only worth % cents, but these
gentlemen don't want that. They want TO
stop immigration, shut ont capital, destroy
the railroads and overthrow the structure Of
civilization.
Show disposition to pay by voting this
settlement and we will get help to pay; reject
1t and the world will visit upon us the pen
atty which always Overtakes the debtor who,
/ when he needs help, begins TO try to evade
| and escape his obligations. Mr.. Thomas
! owes the title TO his land and the peaceable
| possession OF his property to the same con-
! stitution which protects the rights of the
! railroads and the bondholders. Because
| property had been DESTROYED bv the war, il
was no reason why we should destroy the
/ property OF others. We should not dishonor
and disgrace ourselves and our State to get
| revenge out of the Federal Government
! That would be like a bully, whipping his
! wife because some one else had whipped him.
! That delay will end in ultimate Republication
| IS too plain TO merit discussion. Our inter
| est Is accommodating at the rate of one mill
| ion two hundred thousand dollars a yea-,
| and whether We want to repudiate now or
not, the debt wilt in a few years become so
| large as to render payment impossible. The
| hoy who commences 10 roll the SNOWFALL
down the mountain can hold it for awhile
| but it gathers il goes, and soon il gets
| beyond his control and goes crashing down
/ to destruction. We can manage our debt
| now, but it will soon become TOO burden
| some to carry unless we settle il. Gov.
| Marks is assailed for advising this settle
ment. He did it because he saw that the
| concession of One-half the principal and two
| thirds of the interest by the bondholders
| saved more to the State than the State could
claim on account of the alleged frauds. A !
| the bonds complained of would not make
halE h. / 4
Gov. Marks had acted honestly, sincerely,
and for the best interests of the Stale and II
his assailants had done likewise there would
be no opposition TO this settlement.
The acceptance of the creditors had been
more misTepresented than anything else
Savage and his followers were now com
planning that it had not been accepted.
Why? Did they ever want the consent OF
the bondhOldcrs? They advocated 90 and
two years ago and proposed to make it a
llhnal settlement without the 5ondholders'
consent. Other exceedingly squeamsh gen
tlemen on the 33b basis did the same. How
were they going to settle without the cred
| itOrs' consent? This o. lofhing" was their
remedy. II they think the creditors have
not accepted can't they be satisfied with their
own argument? Can't they say this or
| nothing slill2
There was an element that demanded the
consent of the creditors. That element is
| satisfied. The bUndholders have accented
and now these raw-headed patriots go about
| the country telling the people they are not
| for 1t because it has not been accepted. Ii is
easy to convince man who wants to deal
honestly, but il is hard to convince a man
| who never intended to be convinced.
man needs no prelext to do right. and
self respect should prompt him TO make a
decent pTetext, If any when he seeks one
to do wrong. A forcible adjuster obiecting
on account OF alleged non acceptance Of
creditors Is a patent deception which would
scarcely mislead 4 blind man. But facts,
moi assertions settle all questions. Here is
the report Of the proceedings of the Savage
committee aud the COe award arbitratOrs in
New York. That shows that the proposition
usered them by the bondhoIders was as fol-
loFs-page 26:
THAT the Legislature pass law authcriz-
ing the funding of all outstanding bonds of
the Stale, OF ali past due coupons thereon
and of the coupons which fall due on July
!, 1877 into new bonds Of the State hearing
date July /, 1877 and having fifty years to
run to maturity, bearing interest for
period OF five years from their date ut the
rate OF ~ per cent. per annum; for a second
peFOid of five years, thereafter interest at the
rate OF a. four per cent per annum; for
period of five wears from The termination of
the last mentioned period, interest at the
thereafter until maturity and payment in
terest at the rate of 90 six per cent per
annum. Interest upon each bond tu be
payable em-aunuaily un Jan and Jutv I
in every year from and after its dale. and
the coupons evidencing it to be receivable by
the State for all taxes and dues payable To
the State; said bonds to be for 500. $500 and
81 600 each" No other proposition was MAJ e
to that committee, and the signers to that
proposition do not state how much they rep
resent but simply say it "is a large amount"
That may mean two millions or ten, and |
have as much right to say it represents two
millions as any of the opposition docs to
say 1t means ten Millions
This Is the PROPOSE ton referred to so
frequently az the one made to Savage's com
mitlee in New York. 1t is not the 60 and |
proposition and the 60-6 proposition was |
not made to that committee
The members of the committee protested |
that 1t was useless 10 carry home such /
proposition that submitted by the bond |
holders, and the COe committee finally made |
the sixty cents award. What did II say? |
quote from the award: at Is assumed that |
the creditors will generally accept" What |
authority had they for assuming that? Ger
taInly not the consent of the bondholders
They were appointed, as they State in their
award, by ga public meeting of the friends
of the Southern States" and nowhere do
they claim any authority to represent the
bondholders. Then what was the sixty cents
proposition? What did it require 10 fulfil
the law under which the SOL proposition
was submitted? The language of the statute
t4nh ual H. -