Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1880-09-02

DcneGt the people ought 10 pay
the debt.
But, as a special local reason
why Fayetteville is for State
credit, we answer: In the year
1866, as we now remember, there
was Il public meetingin Fayette-
vile composed Of the best citl-
zens of Lincoln county. That
meeting requested the directors
of the Winchester 81 Alabama r.
II. to convene their board and
take steps to ask the Brownlow
Legislature TO issue bonds to re-
pair and relay the iron on the
road. The directors, six from
Franklin county and six from
lincoln county, oil Democrats,
met at Salem, in Franklin coun-
ty. They passed a resolution in
the board unanimously asking
Brownlow's Legislature to issue
the bonds, and appointing Gen.
Bright and Gen. Farquharson to
| 90 down TO Nashville to pur-
suade said Legislature to issue
the bonds. They did go and were
successful. The Brownlow Leg
islature under the persuasive ell
oqucnce Of Gen. Bright and Gen.
Farquharson, issued 1856, 900 in
bonds. The road was rebuilt
with the proceeds. Gen. Bright
and Gen. FarquharsOn were paid
$1,000 for their invaluable SER
vices in procuring the Brown
low Legislature to issue these
bonds. This payment, it is due
Gen. Bright to say, was order
cd by the board of directors and
approved by the stockholders
Just here we ask our low-ta1
friends, do you believe Gen
Farquharson or Gen. Bright
would ask any Legislature to is
sue illegal or unconstitutional
bonds for any purpose? Would
they not have laid themselves
liable to the charge Of obtaining
money under false pretences if
they had procured the issuance
Of these bonds, as directors of
the W. 81 a. railroad had di.
rected their President to sci
; them, and then, after they haC
fallen into the hands of limo.
cent purchasers, had dared t.
open their lips and say they
were either illegal or mconsti.
tutiOnal?
; But to return to Fayetteville
: The railroad was rebuilt witt
these bonds. What has beer
the effect? The taxable proper
ty in Fayetteville in 1868 was
: only $4,000, now it is 5000,
} 1000. An increase Of $410.00(
in twelve years. But this cffecr
, did not stop here. 1t has beer
the direct cause Of the building
Of three of the four turnpikes in.
, to our town. But for the rail.
road, the Wooden Mills an(
FIGURING Mills, near the depot
would not have been here. The
two banks with their aggregate
: capital Of $150,000 would no
now be here. But for the Brown
low bonds we would not hav,
the four or five grain merchant
we have, ready to pay Nashville
and even Chattanooga prices TO
the products of the farms.
, Citizens, farmers, honest mel
of Lincoln county, would yol
not call the people Of Fayette
; vile rogues and thieves if they
did not now show a willingness
to walk up like men and pay
their part of the State debt
! BroWnlow bonds and all! Yes
you would. Now you see some
: Of the reasons why Fayetteville
is for ''State-credit." 1t is be.
cause we do not want to be call
ed rogues and scoundrels, by
land holders, high-tax men, low
, tax men, regulators or any one
else, and there arc no bonds helC
, in Fayetteville.
BY the way, the Brownlov
bonds now outstanding amount
, to only about S3,OOO,0O0, while
the "war interest" on the debt
existing at the time the wal
comRenced, and funded i'll 1866
amounted to 100000. The
! Lcreditors have, in all their prop
POSITIONS to settle, offered to abate
more than double the "war In
, terest."
In our next we propose tc
show how the farmers are equal
ly bound to pay and how they
have been equally benefited by
these Brownlow bonds.
Keep it before the people, that
, o,s4 of' tho ,iUfno,, lla7,o oo,.ot (; n