Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1879-08-03
REPRESENEArTV DYER ON THE
STATE DEBT QUESTION.
g tate Debt DiscussiOss at New Market.
AZ. NJ - 49,. loo

NEW MARKET, August !, 1879.
Mr.. EDITOR: Hon. r. r. Butler filled
his appointment here yesterday, speaking
on the GOA compromise to crowd of about
two hundred and fifty voters. Judge But
| Ter handled the subject in logical STYLE
clearly evincipg the fact that he had given
it careful study and that he was fally pre-
pared to give our people the Information
they sought, namely: how this compro-
mise was effec ted in the Legislature, why
and how it happened to be referred to the
people for its ratification or rejection at the
ballot box, and why he and other thinking
Republicans were advocating IFS Iatifica-
ton, from a non partisan standpoint. Inc
Judges speech was well received and one
could not fail to note the favor
able impression upon his hearers. In
his concluding remarks, he made
earnest and eloquent appeal to the
honest voters of both political parties, as
men who valued their State and the
honor, the glory and the prestige she has
so long enjoy ed, to 60 to the polls on next
Thursday, view this question in its proper
light and cast their vote to pay these bond
holders who have signifed their willing
ness and their anxiety to fund their binds
Now, Mr.. Editor, a few remarks as to
our pretended and extremely moral and
over honest Repu blican friends, who want
to make political capilai out of this mat
ter, md l am done. Since my return from
the Legislature, in conversation with this
latter class of Republicans, l have put
these questions to them. Ii this COM
promise is voted down, how will our sister
States look upon it Ii it is voted down,
will not ha POOSi1arp6 viotOru
for the repudiatng Savage Wilson
party in the State? If it is
voted down, will it not strengthen
and give new hopes, new life and renewed
courage to this element to continue their
fight for reputation. In short, if this COM
promise is rejected, do you believe that
subsequent Legislatures will be able to
offer so liberal compromise; and may it
not probably result in a final repudiatol
of the entire debt? oh" they answer lit
don't make any difference to Repu blicans
what others think of our State debt. 1t
don't matter with US what new strength it
may give to the repudiatlonists. 1t don't
matter with US on what basis subsequent
Legislatures may offer to COMPROMISED" In
TACT they say 1t don't matter if it results in
entire reputation, which they think is
very probable, ''the Democratic 1onrt,, anil
De held responsible for 1T and we can hare
1T to throa0 an their teeth, and 1T all be
great political capital for the Re-
pubiscans." Oh! how honest, how
patriotic, how immaculate, are thesa
pretending State credit Republicans, who
would be willing to sacrifice every thing
that is honorable, everything that is held
sacred in State or individual; willing to
stamp our State with that extreme ruin and
disgrace that would make their posterity
blush with shame to own that their fathers
and grand fathers were voters of Tennessee
-2F1C Ill
cot capital. But If this compromise is re-
jected and its defeat results in further
scaling or final reputation Of the debt,
1otE the Democratic party be responsible
for 1t Mol The Democratic party as re-
sponsioie, 1t being so largely in the ma
1orl y, for the low basis of the compromise.
, because they are divided on the question,
"nile the Republicans are almost a unit
d?r higher settlement than
could or can the Republicans slone
bring about an adjustment at 20 cents or a
higher figure? Certainly not. Gould or
can the high tax or State credit Democrats
alone effect cOmpromi e at 10 cents; it
was certainly proven in the last Legislature
that they could not. The opposition of the
low tax element of the party prevented
this. Then this division among them
selves make them responsible for the loa0
figure, but the Republicans as separate
party held the balance of power in the
Legislature as we do in the general cleo
ton on the 7th of August, if we vote
against the compromise or assume the
part of mere figure heads" in this cleo
lion, and it is rejected. and its rejection
should result in partial or entire repudia-
tiOn of the debt, the blame will rest where
it properly belongs.
a vote for the 50-4 does not mean ''this
or nothing There is nothing in the Act
which says they shall take this, or SHALL
settle on this basis, but there are a large
amount of cur bondholders who