Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1880-08-26
18th: and we denounce the refusal Of

ing evidence that large msjority of
the democratic party intends to repu
diate the bonded debt of the state to
the opprobium of all people who re-
gard the contracts of a state with her
creditors as Of sacred inviolsbility.
Our views are expressed in these
resolutions. They point out the
only honest way to settle the debt.
Any concession on the part of the
creditors must be vOluntary.> Any
compromise forced upon the
creditors by the legislature
is reputation to that ex-
tent. Will the Dispatch answer /?
Does it insist that the state has a
right to make terms with the credi-
tors without their consent !? If SO,
will the Dispatch please inform US
just how high it is willing to go?
Ii the creditors decline to accept a
compromise at the rate fixed by the
supporters Of Gen. Wright, is it the
purpose of his friends to coerce
them into terms :? Here is what
the state credit democrats say in
their platform
II. We reassert our opposition to The
reputation Of any OF tie public OILS
cations OF the state or federal govern
ment, aud declare that The Reputation
of either under any pretext or dis.
| guise would be the most direfni oil
evils, moral, financial and political
aud in the patriotic languages of The
national democratic platform, We
| pledge ourselves TO the strict main
tenance Of the public faith, state and
national.
IS. We 1T cOgniE3 disposition upon
the part Of the creditors of the state,
| in view of the great losses entailsd by
the late war, the great depression o1
business, and the general shrinkage Ia
values, TO make a liberal reduction
in both the principal and interest OF
| our bonded Indebtedness, and we de-
| clare that We favor prompt settle
ment bS the legislature with our cred
itOrs upon the best terms that can be
agreed upon as a result of the negOtia-
ton"
They say they flavor a prompt
settlement by the legislature with
our creditors upon the best terms
that can be agreed upon as a result
Of the negotiation" Do they near
that they are in favor of a settle
ment to be agreed upon by the leg,
islature alone, or are there to be
two parties to the agreement? Il
our creditors are not to be consulted
and the agreement referred to in
the democratic platform means an
agreement on the part of the legis
lature only, without reference to the
wishes Of the creditors, why, then
let US adopt the Wilson platform a
once. Certainly our state credit
democratic friends do not intend t.
do as they did two years ago-givt
their platform dual Interpretation
Then some of them told US tha
they favored an equitable adjust
ment of the debt. and asked US i
we were not also for an equitable
adjustment. Now, they say the.
are for a ''prompt settlement
"upon the best terms that may b.
agreed upon" Will they tell u
if the creditors of the state are no
to be consulted ? Or if they are t.
be consulted, are their wishes to b
disregarded, unless they agree t.
take a certain figure If so, wha
is the highest figure upon whicl
state credit democrats are willing t
settle? We believe the proposition
to settle on the basis of sixty cent
= on the dollar, was a liberal PROPOSE
ton and ought to have been &C
cepted. We believe that PROPOSE
ton will be made again, and if S
we will favor its prompt acceptance
If it is made will the supporters q
Gen. Wright advocate its accept
$ ance? The republican platforr
8 above quoted expresses our view
r exactly, and it expresses the view
r of Judge Hawkins. He has neve
: said a word about paying the Who'll
!, debt, but he does believe that
o compromise made without the cor
sent of our creditors is dishonol
o able. We believe it is Reputation
ETN 1870 the Statp dobf re Ton oSs.