Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1880-12-09
The Bondholders' @New De-
parture."

Eugene Kelly, of New York
City, is chairman, We believe, is
sued. a acircular in which they
advise the bondholders to with
draw the proposition heretofore
made 10 settle at 6Ofand g.
claiming, in effect, among other
things, that SO of the 100 MEM
bers elect to our pextCseneralAs-
sembly, are unconditional State
credit men.
Assuming this "new depart
lure" to be a real, sincere deliv-
france Of the bondhd1ders, and
mot a mere stock jobbing opera
ton to influence Wall street for
a few days or a few hours, as
many of our contemporaries in
commenting upon it assume, we
Ldenounce the circular as a SUI
prone piece Of folly-theI off
spring eta Bourbon who "neyer
( forgets anything and never
learns anything''4a reckless and
1 diSUraf.cfa 4alandonenf of the
real friends Of State credit in
Tennessee. When the Funding
lBill of 1913 was passed these
same bind, greedy men demand
cd a literdt fulfilmei,t If the
promise made by Coy. Jno. G..
Brown in his CANVASS to fund at
q per cent Ilhisademand WAS
complied with. Many sincere
friends of State credit warned
them not 70 persist in The, de-
lm rlaalnldlr that itbNeqld be disas-
tronss illetA to the State ndiIthe
OBSERVATION-DISCLOSURES if they fund
ed the debt it should Befl6ne at
6fpwer 6f graduated rate, Of in
isrsst. This warning, was nm
heefled and We all know the con-
iseaqeDeessII9 This was blnnder
| N6.El5oG n go ruoY odt
i9A gain hq1STS, when 4tl they de-
! h5ls$nltd 90 and s, a very Slight
4 5adsaitigypal CONCESSION OH the part
] ofaiher bondholders wontdaIlaFe
! resalte&9in, a-settlemensimThis
! they declined. This wasblun-
liaer No. 2. .reb & e8uiJ be-
i sAiad now they -comeIlwith a
dpreposi tion, which, inlthe light
,E3fItiie past history ofothfsiques-
5tipM isKorse than a bluaNler-+a
derimc-a crime againsftlWiState
4 credit wing of the Democracy
4 Of Tennessee. WeosaytrankIy
iAto, MeSsrs. Eugene Kelly d Co,
n that1he Democracy. of gTepncs-
.d5ee1 viii 9erer, NEyER, NEE Err,
sEg9, beYold q settlement at so and
I46,iJNNe haye fought this battle
lb1RQn q pledge to Tbs the people
] made day III and day out during
tatthe CANVASS, BY Judge Wright
A and hundreds of stump speakers
! band by. the State credit press
hthFpAg6out, the State, that the
,lbSondhplders wouldrnot;dream of
If'gping back en- their PROPOSE
ton TO settle at go and g. Nei.
thsh did any Republican during
! the, canYass ever advocate q
dseHlement at a higher figure
ethan go and 6. In many coun-
!. tiles ii fle State--notably Giles
I, Lawreiice and Wayne-rthe Re-
; publican vote was cast solid fol
the low-tax candidates for thG
, Legislature We mention this
fact TO show how lightly the
question Of State credit sits Oh
'Tlthe. conscience of the average
Republican, when he has an OPP.
hortunity to defeat a regular
ri nominee, Of the Democratic par
t ty. fpr ;d3 oQ
r. We have conversed with ma
.-tlny of our State credit friends
Z isince the. appearance of the cir
, cular in question, and have
9 found none but what, denounct
alft as tiiIwise, ill-advised and un
4 lltimely;; and very many who have
expended time ant
IN. an honorable way il
II llpholding the credit of State
openly ayowed their determine
eltion TO take no further interes
yIin the matter.
III We state in conclusion tina
eEwe do not believe any of tn,
I members elect from Lincoli
2Eeounty viii, under any circum
j distances, 60 beyond 60 and 6
/ 1They stand pledged to get a set
! 4tlement at a lowerrate than that
.dif they can do SO honorably t.
4lthe State. -.
"a -s- Presidential Vote.
: The official vote Of all til,
e States show that