Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1880-09-21
actly what say here to night Great ap-
A HONEST DEBT.

city what say here to night. Great APP
lause.)
A HONEST DEBT.
Then the interest that has accumulated |
ince the war has swelled the debt to about |
wenty five millions. That gentlemen. |
the character of your debt. |
Ihe question is not whether every part !
f it was wisely contracted.
T WAS, EVERY DOLLAR OF 1T, AN |
HONEST DEBT.
And, gentlemen, it ought to be paid. Per. |
nit me to remark that l never, at any |
ime, owned one dollar of the public debt, |
nd have no personal interest in it except as
ne of the tax payers of the state When |
aen come to you and tell you that thlS debt
ught not to be paid the very same sort OF
.easoning and logic qUou'd prompt them to
ay that you ought not to pay your o'cr
,, arGte debts. (Sensation.) Gentlemen
reg of you before you decide TINS question
against US to pause and consider that we
ire leaving
CHILDREN, AND CHILDRENs CHILL
DREN
behind US to be etfected by your action,
md consider that the loss OF our state
red it Is a loss that can never be repaired.
1t is a loss that will reflect upon every man
in thu state But | can not believe that the
people of Tennessee will not pay her debts.
As | told man IN fennsyIVahls
who was inquiring about the value OF
Tenr essee bonds. L believe That mines
tenths Of the people Of Tennessee would
have one of their fingers cut off before
they would refuse t. pay any part of the
public debt" (TremendOls applause
SISSIPPI.
We had this same question of repudia-
ton some years ago In the states of Mis-
sissippi, Illinois and Pennsylvanla; In
Mississippi it prevailed, but in Illinois
and Pennsylvanis, it did not There are
no two states whose credit stands higher
than PENNSYLVANIA and Illinois, but what
the financial credit of NJ ississippi has been
from that day to this, it is not necessary
.or me in this audience to say.
THE POOR MANS BENEFIT.
Who is 10 benefited by the payment of
this debt? The ricn men only? By no
means. 1t is the poor man. When sick.
ness comes upon him. and the hand Of abor
is paraIy zed, he asks you tc credit him
until his strength returns to HIM, and he
can again earn his support. He is the man
who is the sufferer when credit is des-
troyed.
Take the young man, conscious of his
powers, who has been educating himself
for the affairs of life. He needs q little
help to start; little oil, rs it were, to lu-
bricate the machinery. How is he to get
it? If he has credit, there are plenty of
men through the land who will loan him
aud trust his honesty, integrity and ability.
.. NOT ONE FOR POLITICS.
This is a matter, gentlemen, that / am
sorry 10 see brought into our politics. 1t is
not a polite Il question. 1t is a matter that
is entirely above and beyond politics.
tell you tonight, gentlemen, though the
property that | have is not much, what
have was accumulated the early part OF
my life IN the practice of law-for pc itics
do not make men rich-I aoouLd rather giUe
up one half of 1T entirely and see this debt
paid, principle and interest, dollar for dol
lar, honestly and in full, than to retain tht
aohole and see this debt dishOnored
for my children to have half under these
circumstances than to have the whole with
the odium that would be inseparabe
FULLY ABLE To PAY.
But we are told that we can not pay thi
debt; that the state of Tennessee is to,
poor to pay her debts. But we will fine
by calculation that twenty dollars ahea(
all around will pay every dollar that W,
owe. You say that there are many wh'
can not pay that, but great many Can pa,
ten times or a hundred times that amour
| and their table never lose a crumb or thei
cup q drop. If the state means to pay
| she can do it. Z say that we can not pa,
| it, with the great domain that the grea
| God atove has ven to US, with its abun
| dant agriculture and mineral wealth, witt
It's mines and its timber, ant
its water courses; to say tina
we can not pay that debt is simpl,
pusillanimous and contemplate.
PAY AND THEN KEEP OUT.
have q very short and simple d ctrin
| in reg I'd to public debts, and that is t
pay out and keep out; and with my presen
| convictions I never will consent, either b.
vote or otherwise, TO the creation of anothe
dollar of public debt. We have been con
tracing public debts when we ought t
have taId the money. Gentlemen, this
d matter that appeals to our heads, to GU
sense Of right. not to our pockets
l have spoken freely on this occasion bt
cause fe that the subject is of deep iu
pcrtance. Our honor and our future pro:
per ty require the discharge of this deb
and do t,ust thai we shall have a legisls
ture elected this winter that will put tt
credit Of the state up beyond any possibi
ity of cavil, and that we shall be ranke
side by side with those communities tn
battled successfully against reputation.