Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1879-07-26

with its good name untarnished. |
But the majority thought different
ly, and under our form of govern
ment majorities rule. So it was in
the last State canvass; there was no
Republican that did not favor the
60 cents compromise and oppose
making any other proposition to the
creditors of the State, and ridiculed
the idea of one branch of our State
Government Sinking the response
bilities of the Offices to which the
people had elected them. But the
majority ruled, and they shirked,
and referred back to the people this
important part of their duties.
And [ will say here that had | been
member of the last Legislature, I
should have opposed the bill making
this proposition, to the last extrem-
ity. But it does no good to cry
over spilled milk. The act passed
and the Legislature said the citi-
zens should decide this question and
legislate directly themselves; and
of all things detestable in a Legis~
lature, lodging the question is
worst; hence every citizen should
vote and assume his share of the
responsibility. Please bear in mind,
I should have opposed making the
proposition, and the State was dis
graced when it was made.
The so cents proposition of 1877
was made in consequence of the
acts of former Legislatures, and we
all were in favor Of accepting their
liberal offer. The act leaving this
question to the voters of the State
is, to the present, as much
a past act as were those that
preceded the SO cents proposition.
Those that made the offer then to
take 80 cents on the dollar were in
fuenced by preceding legislation,
just as some of our creditors are
now influenced by the acts of the
last Legislature to make the 50-4
proposition direct to the people.
Then, as we favored the so cents,
why not now the 50-4?
Some of the bondholders say
they prefer this enormous shaving
of their juss claims to leaving the
question open to the future, and to
that extent proposition is made to
the people. We do not pretend to
say that it is entirely voluntary on
their part. The voters OF the State
are not directly responsible for the
action of the Legislature, but they
will be directly responsible if they
disregard the offer of their creditors,
made to them in response to the &C
tons of the Legislature.
The voter can not stop to en-
quire of the creditor why he makes
the offer. We must consider that
the bondholder knows his business
and is acting for his own interest.
We can only say that we accept or
reject his offer. AS to those bond
holders who do not make to the peo-
pie the 50-4 proposition, We have
nothing now to do. Nor would [
suggest to them to take that or any
other figure as a basis of compro-
mise. l propose to vote as to
those who have made the proposi~
ton, and if others prefer to trust
to litigation or the honesty of fu-
ture Legislature, let them do so, and
I now pledge them my vote in ia
vor of the State paying every
cent it is able to pay.
In the Legislature of 1877, when
this same 5O-4 proposition was
pending, [ offered an amendment
that those who didn't accept should
not be in any wise affected, for the
benefit of who might prefer to trust
the future, and as [ understand the
terms of the s9~called compromise
bill, it does not propose to affect the
interest of those who do not accept
its terms. It is a singular fact,
however, that all those Republicans
who favor rejecting the 5O-4 offer,
at the same time say that the public
mind has been so corrupted that the
creditors will never get more or
better terms, and still they refuse
to pay this because they say it is
not enough.
I frequently hear it said that the
laboring or poor people will favor
reputation, and vote to reject, but
| think this is not the case. The
masses have more business judg-
ment than they generally get credit
for. They all have aspirations for
themselves and their posterity, and
they know when their children OF
grandchildren are occupying halls
Of Congress or when filling any
other national position, will feel
the sting of reputation thrown al
, them as sensiblv as those who are