Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1881-03-31
AN OPPRESSED PEOPLE
WhOare Asked 10 Protest Against
the Violation OfS0iemn
Pledges.

1n ~ nAAANkA
the history of the state debt question
we publish the following address
which appeared in the Nashville Sun
day Herald of the 9th inst. 1t is
too late to have any effect as to the
action of the legislatures, but not too
late to be read and thought over by
the people:
To tho people of Tennessee; The
undersigned members OF the general
assembly of the, state of Tennessee,
believe /. to be their duty to appeal
directly to the people, to warn them
of the monstrous crime about to be
committed against them Snd their
children to the fourth generation, by
passing into a law the acceptance of a
scheme ofjobbers and spectators in
Tennessee bonds, by which the tax
PAYERS will be saddled with a perpetu.
al debt of $27, 100000, with an annual
interest debt OF $4,000.
This scheme is called the 100 B
proposition.
Ii recognizes and assumes every
kind of outstanding bonded indebted
ness of equal merit and legality, and
makes the interest or coupons on this
indebtedness a legal tender for all
debts due the state tor a period of SO
years.
The bill to fix this perpetual mort
gage on you has passed the house of
representatives by the following vote:
Ayes-Agee, Anderson of Cooke,
Anderson, of Madison, Austin, Baker,
Boyd, of Lauderdale, Boyd, of Upton,
| Buquo, Butler, Cassels, Cochran, Cole,
Cooper, Eaton, Ezell, Fouts, Grisham,
Hall, Harrison, Hawkins, Higgins,
James, Jarvis, Kennedy, Lester, Nc
Anally, McLemore, McTeer, Nicely,
Norris. Owings, Plummer, Poston,
Rhodes, Reeder, Rogers, Smith,
Sykes, Trimble, Vernon, Wilkes,
Wilson and Wiltse-43.
Noes Bagwell, Beasley, Brooks,
Buchanan, Coulter, Davis, Driver,
Dulabey, Gass, Hash, Haynes, Hay
ME, Head, Houston, Jones, Lewis,
Manson, Martin, Means, McKenna,
Pillow, Steele, Thompson, Watkins,
Warren, Woodard and MIR. Speaker
Ramsey-N.
The passage of the bill through the
house was forced by a body of specu-
lators in the honor of the state, and
this body of men engaged in procuring
votes of members of the general
assembly, openly boast that the senate
viii also pass the bill of 1903 as it
came from the house, with all its obi
Gus and criminal features unimpaired
We believe the body of spectators
will succeed if the people remain
silent.
They have evaded the senate cham
Der, and boast with astounding audac-
ity that senators elected by low tax
democratic votes will support the job,
aud they claim other senator's wac
pledged their constituents to oppose
the coupon crime.
If the bill becomes a law, the rate OF
taxation must be increased from ten
cents-the present rate--to 10 cents
on every hundred dollars Of taxable
property. The highest rate ever lev
led was 60 cents, and this rate was
levied but twice since Tennessee WIS
admitted into the union.
1t is safe to estimate the local taxes
for 1881 at S2,477,000. If the 1903
job becomes a law, it will require a
state tax of 20 cents to comply with
its provisions, and this rate will re
quire the people to pay, in addition
to the local taxes, Sl,477, 900. o.
this $4,000 will be set apart to pay
the interest on the $27, 900, 900 of the
newly funded bonds, and the balance
to pay the current expenses Of the
state government. The people oil
Tennessee will pOy annually in taxes
the sum Of 1887, 000-a public bur
den SO great that it cannot be carried.
In defending this system OF public
plumber the more tender democratic
members Of the house elected as state
credit democrats. and who voted for
the 1908 proposition, have placed Oh
record the following extraordinary
apology.
"MF. Speaker This bill does not
meet our peculiar views on the settle
ment Of the state debt. The PROPOSE
ton from the creditors is not what VIC
expected or preferred, MOI Is it as lib
eral as the people desired, but having
made an honest effort by a thorough
canvass among the members of this
house to procure a lower rate Of set.
Element, bpt finding that neither a suf
fcient number Of republicans or low
tax democrats will unite with US on
any other proposition, we deem it oul
duty, as state credit members, TO vOt,
for the only measure that can possibl,
pays this house, Therefore, We vot,
aye.
Hugh g. Anderson, X. B. Cole,
Fl. H. Buquo, ID. p. Cooper.
" n " lfAt1s
Now, We charge that these ~sO-calle;
state credit members PERSISTENT
voted against every motion and amend
ment which might protect the peopl,
from the rspaoity Of the syndicate @
bond spectators.
The democratic platform on whicI
Judge j. V. Wright was nominater
for governor, and on which he fear
lessly made his canvass, declared tina
I'VE recognize o disposition upon Oh
part Of the creditors OF the state, i
view Of the great loss entailed by tn
late war, etc., TO make liberal reduC
ton in both principal and interest Z
!. our bonded Indebtedness, and va de
clare that we favor q prompt settle
= ment by the legislature With our cred
= itors upon the best terms that can b
2 agreed upon as a result Of negotio
ton
Now, we charge that 20 effort wa