Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1879-03-05
A PREMEDITATED CONCLU-
SION.

Yesterday morning we published
the full majority report of the COM
mittee appointed to investigate the
State debt. We did this in order
that our readers might see that what
we have said of the so-called inves-
tigation is true. The majority of
that committee knew just as well
what their report would be before
they heard a word of testimony as
they did when the report was made.
The hearing of testimony, SO far as
the report is concerned, was a mere
formality. 1t was a premedi .a5ed,
pre-a1ranged plan to sustain the
position taken by Governor Marks,
in his message, and to precipitate
the reputation Of a large pros
portion of the State debt. If
we were to admit The truth
of all this committee states, which
we do not, still the validity Of the
debt appears all the same, as we
will proceed to show:
l. The debt was created by the
regularly authorized, constitutional
agents of the State. : he act Of
the agent is the act Of the principle,
is common sense and good law.
Even though, as is cloimed, one OF
two men may have been bribed TO
vote for appropriations to railroads,
still they were the States agents,
and if the people will elect rascals
to the Legislature they must take
the consequences of their own
folly.
H.. 1t can not be claimed with
any show Of reason CT honesty
whatever, that the bonds issued
under acts of the Legislature passed
from 1865 to 1868 were invalid be-
cause a portion of the people we're
disfranchised; for the Legis-
lature Of 1869 and 1870, which
was elected by the whole
people, and which was seven-eighths
Democratic, recognized the validity
of all the bonds, postwar as we'll as
ante>war. 1t is claimed by some
that this Legislature so recognized
the validity of the debt through fear
of the Federal Government, which
was threatening reconstruction, but
this would imply degree Of cring-
ing coWardice On the part of that
Legislature which we are unwilling
to believe. Men never yield prin /
pelsE from fear-dastards and cow
ards may.
III. A Constitutional ConvenS
ton was held in 1870, choged by all
the people and composed of ninety
four Democrats and six Republicans.
l, the debt was Illegal that body
should have prohibited its payment.
1t did not, and tacitly, at least, re-
cOgnized its validity.
". Under the act of 1869-70, |
the solvent railroads paid their in-
debtedness to the State in State
bonds without regard to series or
number, and the chief financial of
fcer of the State received them and
gave receipts showing that the in
debtedness had been discharged.
Thus, the validity of all the bonds
was again recognized.
V. In 1878, a funding law was
passed by Legislature chosen by
the whole people, three-fourths of
the members of which were Demo-
Gratis. This law recognized the
validity of the entire debt. The
funding measure was advocated by
both the candidates for Gov
ernor, chosen just before its enact
ment, and they advocated it publicly
all over the State previous to the
election.
These facts stand out prominently,
and establish the validity of the
State debt, recognized overland over,
again and again, and this commit
tee has not presented q single argu