Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1880-10-23

them ana Judges TO decide IN their
favor, and when they had so
strengthened themselves they went
to work to get the people of Tennes-
see to pay the debt which they owe
and not the people.
As far as we could understand
him this was Mr.. Munford's account
of the debt-the state does not owe
it, but the railroads. But there
were a good many things we could
not understand in it, being plain
country people. We couldn't I'M
derstand how for thirty years the
people should have thought that
they owed this debt and have been
considering how TO pay the interest
on it, and then here comes a young
lawyer all on sudden, and tells us
we don't owe it ut all, but the rail-
roads. Mr.. Munford should have
given a reason for this that a plain
man could understand, knowing
that we are not lawyers down here.
Then there's another thing We
couldn't understand. Mr.. Munford
told us that it was a fraud to issue
such bonds at all but if they were
so framed that the people could not
be made liable for anything, and the
railroads could, who was the party
defranded? Not the people, GER
tainly, for they were to lose moth
ing; it was the railroads that were
to lose it all. Well, then, if it was
fraud at all, it was fraud on the
railroads, not on the people. But
then, what becomes of Mr.. Mum
ford's idea that all this legislation
was done by men in the pay of the
railroads. Why, it was the railroad
companies that were victImized,
and they could never be such fools
as to pay for such legislation as that.
All these things puzzled US, but
we supposed we were not smart
enough to understand such wise
young man as Mr.. Munford, and
we thought that perhaps Mr..
Rhodes might throw some light on
the matter.
Mr.. Rhodes seemed to think that
the people of Tennessee owe the
debt, as we all thought until Mr..
Munford came among us. He told
us that when in 1884 the people
made new constitution for them
selves, they put clause into it re-
quiring the legislature to encourage
internal improvements; that wing
legislatures and democratic legisla-
lures, wing governors and demo-
cratic governors had obeyed this
clause by loaning the bonds of the
state to railroad companies that
our very best men had joined in this
act, men such as g. A. Henry, John
F. House and VIM. B. Munford ;
that in consequence of the building
of the roads the property of the
state had almost doubled when the
war broke out. All that looks as if
the people intended to make the
debt, and did make it, and gained
great advantages by making it.
Does it not follow that the people
owe it? But Mr.. Munford had stated
that an arrangement had been made
by which the people were to be Sc
cured against having to pay interest
on these bonds. This Mr.. Rhodes
said was true; the railroad compa-
MES were made to give security that
so long as they held the bonds they
would pay the interest On them and
the security was ali the property
that they owned, roads, road beds,
rails, bridges, rolling stock and ev-
erything else. A lien was given to
the state on all this as security that
| the interest on the bonds which the
state had issued should be paid by
the railroads and not by the state.
This lien was the only ground for
Mr.. Munford's assertion that the
railroad companies owed the bonded
debt.
But how do the present railroad
companies stand in the matter OF
this lien? Why, some of them
have paid for their bonds dollar for
dollar, and the lien can't hold them;
and Others became bankrupt and
the property on which the lien
rested was sold out by the state, to
companies which never had any
thing to do with this lien. One class
therefore has paid all which the lien
was intended to secure, and the
other never had anything to do with
it. On these grounds Judge Whitney
decided, after taking months to con
slider his decision, that the state
owes the debt, and the decision was
the only one consistent with law
and common sense.
All this seemed to show that we
owe that debt after all, and our peo-
pie began to look for something
from Mr.. Munforn to show that we
didn't; but he seemed to have moth
ing to say, although Mr.. Rhodes
kept poking question after question
at him to know whether he admit
ted this thing or what he had to say
about that thing. But Mr.. Munford
don't seem to like answering ques.
tions. They throw him off the
track, and then he can't make cons
nection again. He seems to have a
nice little speech on hand, and
speaks it Off very prettily, but il
anyone gets him away from that he
doesn't seem to know what comes
| pavt. SOOoathinp like n OOOl LITTLE