The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1880-12-24
Teuuessee's Debt.

| EX-GOVERNOR PORTER SAYS THE PEOPLE HAVE
DECIDED TO PAY-MEANING OF THE LATi
| ELECTION.
New York Herald.I
Ex-Governor James ID. Porter, OF Ten
nessee, the leader Of The bigh-credit force!
| in that State, and the man who has don'
more TO baffle the repudationisls than any
other. perhaps. is registered at the New
York Hotel. A representative OF the Herald
sent his card to Governor Porters room las
evening, and was answered by the Governor
himself. He Is younsish man. erect
| handsome. and genial, with little in his per
son to show for the stern and terrible bgn
| he has made for the past few years.
1.-THE unmistakahIe meaning OF the late
election" he said. in reply TO question
"is that the people OF Tennessee intend 70
settle their debt honorably. | pledged my
administration squarey 10 that issue-tht
last administration was put on different
i>sue-and in the late election the people
fer the first time had an opportunity to vote
directly and intelligeDtly. The result was
decisive and gratifying"
ado Savage and Wilson and the lOw-crc'
dit leaders realize the import OF the popu-
lar verdIct?'
81 think they understand that the people
of Tennessee are determined that their debt
shall be honOrably settled. They cannot
help but know it,
"What is the amount OF the debt:'
cit is about SO 100000, interest and all,
but the whole of it viii not be claimed. We
can carry the debt easily by tax oi % cents
on 800. or . mills. The holders OF the
State bonds made a great mistake in cir
cular that they issued on Il proposition
TO pay so per cent. of The deb, In 6 per cent.
bOnds-kn0wn rs the 60 and 6 plan. rs OPP
posed 10 the so and f. which meant the
payment OF 80 per cent. in 4 per cent.
bonds. This circular eXasperated many
of our people who were doing all they
could to prevent the spread OF the re-
pudiatiOn sentiment, and led TO the fear
that the bondbolders would demand more
than the people could he brought 10 agree
TO. But that j. all light now, and be peO-
pie have overwhelmingly said that TPnnes-
sees honor must be maintained. The
bondhoders, may say also. occupy more
reasonable ground now, and do not doubt
that Il just and equitable settlement will be
reached without further trouble. II has
been a very hard tight, but the heart OF our
people has always been right"
VIII you be able to elect Democratic
senator with the incoming Legislature 2"
81 think so-though it is very close. Ny
impression is tbat Democrat will be elect
ed-most probably some one who has not
been prominently connected with either
wing OF the party IN the late struggle. The
State is fairly and decidedly Democratic.
The Savage Wilson men are Democrats, and
have never been anything el.e; and white
the Republican Governor-elect. Mr.. Haw-
kins, will make good Executive, having
always been n respectable and upright man,
| do not think the split IN the party VIII be
continued to the further benefit OF the Re-
publlcans."
''Is Tennessee prosperous and progress
silver"
"Never so much so, perhaps. Every sec
ton. every industry, is prosperiDg. The
people are happy and cOntented. and the
future il full Of hope. In this Tennessee is
hut sample Of the entire South, a. far as |
know. There is uneXampled prosperity
and activity all about us. The South is ra-
pidlv improving it, condition, paying off its
debts, and pressing forward to IFS full and
perfect development"
Governor Porter left bv south-bound
train Wednesday night for Nashville, where
he is installed as president Of the Nashville
and Chattanooga railroad.