The home journal. (Winchester, Tenn.) 1858-188?, 1880-10-27
A Word from tho Humble

and there is good sense and sound judg
mcnt in what he says
Editor Home Journal
would not be conspicuous, nor am
an aspirant for office, nor claim to be q
politician. But / present this article t,
the readers OF the Home journal and
propose to deal in facts just as | under
stand them, and if | am msled or mis-
taken, would thank some friend to ans
wer me and convince me Of the same
for | am always open to conviction.
l have recently met several of my
best friends who hold an opposite opin
ion to me in regard to the adjustment
Of the State debt, and seem to think
strange because | do not understand tn,
matter rs they do. They ask me t,
read the Nashville Daily Sun and hear
Wilson speak. | have done 50, but
did not read or hear anything to induce
me to follow after my friends.
Now, word with the true Democracy
ofmy country, who have Il common in
tcrcst with myself: | think that those
who have left the old landmarks to Join
Wilson and his party are certainly ex-
cited so much that they do not appre-
ciate matters as they are. | listened
patiently to the celebrated Wilson speech
in Winchester, and he surely fell far
thcr short Of being a smart man than
any one | ever heard who was called IL
statesman. His talk reminded me of Il
young man heard make speech in
regard to the progress of time. He
claimed that each succeeding generation
was meaker but riser, and his father be-
ing present he pointed at the aged parent
and said: "There is my father, who is
rs stout again as am, but am as
smart again us he is" Mr.. Wilson, in
his boasting way, would have you be-
lieve that he in his wisdom was able to
expose the ignorance and corruption Of
the Tennessee government for the last
half century. Let US see, for Il moment
About forty years ago, when Tennessee
was in her youth and had no turnpikcs
Or railroads, Gin fact, no means of trans
portation save wagons over rough roads,
and the Cumberland and Tennessee riv-
nrs,) her citizens being proud and enter
prising people, and looking forward to
the prosperity and happiness ola rising
generation, went to work and through
their Legislature adopted Il plan of in
fcrnal improvements. They issued
bonds bearing six per cent. interest, and
pledged the name and honor of the
great State for their payment, and in
vited capitalists to buy them. And so
the money was raised. And the State
took lien upon all the property of the
roads. For forty years she has been is
suing bonds and paying interest thereon
all to get money in order to develop
her resources, and the present genera
ton is enjoying the benefits. And was
all this done in a corner? Was it kept
a secret from the people? No, it was
done by the people themselves, acting
through their representatives. Not only
50, but it was done by the Democratic
party. But Mr.. Wilson says that the
men who were in the Legislature when
these acts were passed did not believe
the people would ever have to pay one
dollar of the bonds that were issued for
the benefit Of the railroads. That is so,
but calamity fell upon us ala civil
war, during which the roads were torn
up and destroyed, and the stockholders
became poor. Then came four years or
50 of Radical rule and consequent waste
and extravaganza, all Of which was our
But what did the State do
as soon az the Democratic party got in
to power? She went to work to get rid
of as much of the debt lis possible. She
classcd the roads and enforced her lien
upon the insolvent ones. After advcr-
Using them in Europe, New York and
all money centres, she sold them for
about ST., 900, 900 into the hands of in
noccnt purchasers. Now, Mr.. Wilson,
after the State has enforced her lien
and taken the roads from the stock
holders, and pocketcd the money de-
rived from the sale, how can you say to
the holders of our bonds that the bonds
we're issued in violation Of the Constitu-
tion-that we don't owe the debt, and
that the railroads do? You talk about
swindles If that is not u lirst-class
swindle somebody must judge it besides
me.
Now, as to bonds fraudulcntly issued
and misapplied during Brownlow's ad-
there is no doubt, and for
that reason we are in favor Of n com
promise ut 50-4. All the best evidence
convinces us that the State justly owes
at least half the amount Of all outstand-
ing bonds. And we are well satisfied
that the genuine and fraudulent bonds
cannot now be distinguished, hence the
should bear his part of the
as well as the State.
Mr.. Wilson, you propose to be repre-
senting the people and the State. DO
you think if they fully understood this
matter they would be willing to sell
railroads for twelve million dollars and
then say the purchasers owe the debt?
Have we not enforced the lien? Were
they not exhausted and because they
did not sell for enough to satisfy the
lien do you mean to 90 upon the lnno-
cent purchaser for the balance of your
claim When the roads were sold they
became virtually dead as to the State,
and left the State bound to the bond
holder for whatever the sale lacked of
paying off the mortgage. And do you
say the bondholder looked to any one