National Republican., 1880-10-06
RepudIntIon In renncssee.

Tue democratic party in Tennessee Is di-
Vided on the question Of the state debt. The
republicans are for its honest payment. On
that question the Hon. ]. NJ. Langston, in a
speech delivered in Nashville, Tenn, on the
eth of last month, said
"The bonded debt of Tennessee is about
S27, 600 OOO-that is, the debt, with accrued in.
tcrest, amounts to that sum. The demo-
cratic party has had full control of the
state government since 1871, and for a
time paid the interest on the state debt, aud
I'm 1873 funded tho debt aud solemnly under.
tool, TO pay the interest on tho debt aud to
set apart a sinking fund to pay the principal
ut maturity. The party, however, repealed
tho act giving these pledges, failed to pay
any interest since 1873, aud reduced the taxes
to ten cents on the 500 of taxable property,
so that no interest could be paid. Now one
wing of the democratic party has I'm its plat
form taken position in favor of the payment
of the debt, and has nominated Judge Wright
thereon rs a candidate for governor, while
the other wing Of the democratic party, call.
ing itself "tho low.tax party" has adopted
platform taking position against the payment
of much the larger part of the debt, against
making the coupons on the bonds receivable
for taxes, and in favor of submitting any set
Element of the debt made by the legislature
| to the people at q popular election, and has
nominated candidate for governor on that
| platform.
"Thc republican party also have candidate
| for governor-Judge Hawkins, u man of 0bil-
| ity, frmness and intcgrity-on state credit
platform, which recognizes the validity of the
bonds of the state aud declares in favor of
| payiug them, and which takes the position
| that any compromise Of the debt, or offer to
compromise at u less sum than tho amount Of
| tho debt, must come voluntarily from tho
| public creditor.
"rhe democratic party, by making no pro-
vision for the payment Of tho interest on the
bonds for years, aud by reducing the rate of
taxation so low that the revenues would barely
pay the expenses Of running the state govern
ment, have virtually been guilty of the
crime of reputation, aud cannot now be
trusted with the settlement of the debt.
"rhe Importance Of adopting an honest and
enlightened policy on the subject Of the state
debt, so us to preserve the public faith aud the
public credit, cannot be ovcrcstimatcd.
'rhc failure to preserve the public faith and
credit will degrade every citizen Of the state
in the estimation Of the people everywhere; it
| will rGpel population and capital In Ect,
capital will shun Tennessee because it would
be endangered if invested hero.
"Ths state, with its location, its climate its
fine soil aud It's billions of hidden mineral
wealth, would be one Of the most prosperous Of
all the states If capital su ilicicnt to develop
| its resources and industries was Invited and
| induced to be brought here and invested.
| VIII capital come to Tennessee while there is
any danger Of reputation being adopted rs
the policy of tho pcopl of the state? 1t has
been said that many of our coorcd fellow-citi-
| zens will vote for the lJw-taX candidate for
governor and candidates for the legislature
and for the reputation of the state debt be-
cause, at the time the debt was incurred, they
were not citizens, but slaves, having no voice
| in tho matter of the creation of the debt
"But when the debt was made it was done
20 advance the great materia interests Of the
state, to secure the building of railroads and
turnpikcs aud the immense advantages which
have como to the people Of the state. What
would Tennessee be without railroads. How
many thousands of people would be thrown
out Of employment if tho railroad system was
destroyed?
But when the colored people became citi
zens, with all that American citizenship
means, they took upon themselves the bur
dens as wei. rs the benefits of citizenship
and this was right As well might a German
an lrishmau or n FrcnChman coming t
America, after the creation of tue debt of tn,
state in which he settles, say he would no
assst in paying any part Of the debt Of thu
state"
After alluding to what American citizen
ship means, its dignitics and responsibilities
even In the case of tho ,oored citizens, apt
particularly to the fact that, although repub
licaus in Tennessee may be in tine minority
Mr. Langston stated that they are a part o
tue republican party of the nation, and eau
not afford to do anything In the direction o
rcpudiating public obligations.