, 1880-05-15
TENNESSEE DEDTs

srtetn, cor7..pondenee a, The e,,<,,, ,,nu
:, Nashville, Tenn, atay lo~The t'1spIt sp,, y,
,,.s ~ nosy o.escals a'll others aguiass Ten.
hcssee railroad companies, wl,irh In. t,.r sa'
pent!ing Ill tllo United States Circuit ras'aa sa
iii this city, before judge Withov -, tS,1nt1
sonel"sIon' ani WIN terminate withi" isal,ss. ,ss,
ts''ie. Inc cnso Involves about Sl5.0n M
atld tic question of the liability NJ H.
runt1 companies for tho payment ~ 49, .te 1al.
issued by tic Stnto IN MI, ~ tho " tas bohd,
W .Ie.l !!'cs, WIN accrneu Interest. Na,u,.
ally 1t nttrncts much Interest, as, aside f.o..
It's flnancIal and lcgnl magnltuIe, # hsa @ IRON
MI Important bearing ,,pou fha ;, ,"st,,q n%s ,qal's
1rnurssro ns viii In nr,inr.., Jnt .Hs po'ltlcsot
stated TINT tho chief opposition Of In,as -
majority Of the people to a settlemcnt ~ ~ ~
State debt Is based upon strong mn, '. ,..l .ae
crounded hnitcf tlnt vroot ,,'.,s MHi we'll
bonds were Iiieunliv tss,'ci i' ""u'oer OF taesa
imlr9yenent" was established BY BY ,ha hgIaa! 1s;!!
erai MsScna9iy OF tennessee 10 enable certain
spvIt% .,,'i,, tio Tlro rt, e;Ga1les ; to finish an
sp sGe, 'ner ne,ay roas' Inc p,a'' was to presils
,,gK IlonKt! ,,,vai ias - ns opsall!e!i OH S,ass
aM, puiaus paSau!o ~ u1siaht neriotls, with IN.
terGsL sei1l'.ainanily. Tii9 w!lop process was
Fti n 1sr, S3 stusu ".,". " t'ie net passr
;"et Hen. H. on,;e,, IT., 'ogtugr @ltli tliree supple
se .onth sbse1c,,tiy u 1s an.t lst Of q.
N l9rthSrancc ot the original system. Thess
nn,Mm,lIs nnt tn hcfasa cg ,aae S'I'sala5 I'LL. atd 70
oItieI so!e Of G1u5S ta or@ila de nla they aso
i1 tese ,noslitcatiol,s rtte. onlyio eia
ni,o~a ~ Wy pam'G; "; alu they left Tn
e9,nigeai III ..! !snos1alice, tne Legislative TIA.
s'aery '. ~ Wi,len ,no systcnl u lending ihs
thn 'i i,is eiGi..t Mas o.guaHeG ~ lss. SbAeot
lion ca in part GsS %nde! 'Ss s;c asat9,sis a5 IL 9s
aMft5, M t, DIt u1u IT, % MnGiU uo1y l1sly 10Y the sake
y. tho e,eS.S' ,..S' ~ sn9Keh OIL as claiming unde,
t1i9 ~ sySsle'n sd OF !s's'
,,,.,, - to r. oei1aIa tsa oIatnetn KalFoad Com.
GartG;sloSM, trte;a y, .$H5.11 Hn6 East Tennessee
Georgin, Sl,ol4,uoG; EsSt tennessee y VII.
g!lAa, S,.ii1U; E9sI nG III ielnessee y Wcsten,
Nul5IM tN5.,. CAF9ia,M, ~, s4WV; Mage1ed & Ken.
Na.yyiir Nyi !a''TfI, ffirvs,s.h aishus{sSn si
y Chariestg,i, s7l00o; ilagranKe L Mem.
h!!s., S1ta, - NJ noulSvl!!e, ,Ellcihnati i
GtIi,;n.1eSsui. sti;, ~ S iLOuiSyllle y Nssll-
tnr ttie' n' HIs,nhiH HIeniVllls rias;asl iMasls-
fi,aI}ys,H; naleenth,u1s, tls, Ill., CIariasil!a
l.o!llsvi!ie, ~ ~ ,1s30OO;, =, Memphis 1,
U4aol Mig Si,'niWV; Allaerni ,s ~ I1otNs, SlmGo;
4naIliss,ssippl SGnIra Ss9,n iax M!sslss!ppl
IGllhcSyee, 5Gl SS'S,uri Aipblie y Ohio, Sl,yA'
~ Mtas,isnio ~ tnnItlIan0oea. Il $&h00;;
NShs!i,vlilo ~ Ueentuf, & S.tA;oVo; Nashville i
Noftl!WeSLefll. IA. wv; H0gersyllle& T. JET.
1efs6ll. SSS5oV: southern. S!N3,00o; Tennes"
sGe u q h1n1nl, WI H. 81, r13.OM; tennessee y Pa-
G.ltG, I ,, 81 SsS1'lo,atu cMincllGsief o. Alabama,
sl,?ouvV. Iotal, STv,4ol, ,:SN
" tnG Isl uny " january, 1911, the raiiloll
lMmueptttalless III Of the 5tnte was vi, .o91M.
u ~ tne Stnte, anu their salo wns decided upon.
lile roads were pht npan4 500 nt ruinonsly
low price. 1Any oillstnIltllfg Doll!s against
the State Wero received ~ payment tor thesa
rohus; nhG thus Oohtts 1ell to small ngaP,
Were purchased clieap, and pni.! Into Tug
state Irens9ry N settlement for tlle railroad
bo'las D0iigllt IRON the Stnte: III thiswaS
most OF fllo Sl4,OOo,UoO OF the Donls i.
sued after the 1Wnr, beileyed w manY 70
l'are been void md not binding Oh tlle State,
were Lakef dotr tor aolar Is i, y, s9! ~ ,'
suSiliiica py tho people was sso'evtNN
follows: -, Loss, on sales of twelve railroads
Sl3@,S0ia NY Ivy; aWo; interest oll hnlne Since sale,
S4,0oD,Uo;, tolnl, Sl7,ea4,000; NAr 'nlet'
est Iiii!edi S5,UWHO; ten yearS Interest,"
SJ,D00,o00i totut, Sa,UO0oo.
Tho c0nStrueti0nof OF tlit statute Of lSS3 y
the nsniil question ut issue. IT Is cla!i9edby
the conIplainanls tlint the issual,cc and ,lcgo1
tntlon of these bonds were, III every !Hstancc,
nv OntbOrttv Nf n nllhlfE afntt1th. flat thpIf