Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1880-10-04

Hauo III SOOu lalJui Wnen ne Ollers 10
pay anything he means to pay it out Of
hisown pocket, and not out of other
peoples. He assumes that the debt,
with interest included, is over $27,-
100000 and can be compromised at
sixty cents on the dollar. We will
take it for granted that majority of
the bondholders would accept this
amount for principal aud accrued in
terest, if rendered in money; we be-
lieve they would if it could be put in
tina shape. But Of course, they have
no idea of refunding the debt at this
figure if Wright or Hawkins should
be elected, together with ffty-one
high credit members of the
the legislature. Why should they?
Both these gentlemen say the debt is
just that the people of Tennessee
had the full benefit of value received,
and are abundantly able to pay it
without being taxed as high as
other states or greatly burdened. In
fact, they and theirorgansand electors
argue that it would add to the glory
and honor of the state, and bring in
streams Of immigration, capital and
enterprise TO pay this debt, Accord
ing to their logic, the more we pay Of
it the better. But returning to the
proposition of Colonel G. w. Jones,
where are the other nineteen hundred
and ninety-nine patriots? Don't all
speak at once. Let us see who is
likely to come forward. The Nash
vile American, as a company, will
certainly plank up a cool eight thous-
and. Colonel John &. Burch,
who holds high Office a.
Washington, will of course be
another. The Banner being a
young paper and not quite as strong
in the faith, would be expected to put
up four thousand to pay off the debt
and settle this yexed question. Colo
mel Jno. NJ. Lea said in the legislature
in 1875 that he paid his heavy taxes
cheerfully, and would pay one dollar
on the hundred if necessary to IRE.
serve the credit and honor Of The
state, He, too. means what he
breaches, end being a wealthy as wei
as a liberal man, would at least raist
Colonel Jones and go 10 for sixteer
| thousand dollars. Major Tom 0'Con
or might be supposed TO take enouel
of interest in the matter to put VI
$4,000. He could be let of With thil
small assessment because of his ser
vices on the national democratic ex
ecutive committee. General Camp
bell, of jackson, a wealthy banker
could easily pair off with Colone
Jones. Colonel Jno. II. Savage well
he would probably put up 1898.
as a gratuity just to get rid Of tn,
question. Edwards, Wilson and iIaw
kins would all contribute their mite
and thus the ball would roll on, tn,
debt would be paid off, the bondhold
ers would set up the beer, and a.
would be happy, Great dificultie
are easily surmounted when We happel
to think of the right way. 1t the deb
should happen to be paid off in th'
next three weeks by privat
subscriptions we will waive the ques
ton Of submission to the people aRC
just let them pay It. Ifrefunding tn
debt by the legislature and raising tn
rate of taxation to so or 80 cents fc
the next thirty years, would make tn
Tennessee wilderness blossom like
rose, what kind of flower gardel
will we have after the nineteen hun
, dred and ninety-nipe fail into lin
with Colonel Jones march up
the capital to deposit the money t
, take up the whole debt and lOsv
taxes OF the present rate2 What
millennium we Will have. Next