Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1881-03-17
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A HIGH TAX ORGAN IN GOOD
FAITH.
But Not a Word as TO Section 10,
and Dollar for Dollar.

From the Chattanooga Times.I
After the present governor and leg
islature we're chosen the newspapers
calling themselves organs of the low
tax faction said they were content
with the peoples decision on the debt
question. They asked for a truce be-
tween the wings of the party lately at
war with each other, and bitterly COM
planned that the high tax newspapers.
or some Of them, were inclined to
keep up the contention. They said,
in effect, if not in so many words:
State credit" has carried the day.
The people want a prompt settlement
on the best terms the state can homo
rably get. w shall not oppose such a
settlement. We are willing for their
chosen representatives to carry cut
the peoples will, and we shall make
no tactious opposition. The Memphis
LEDGER, about the only paper of any
ability or character on that side, was
especially forward in pledging itself
to a policy of Cancellation, and in
binding its party to quietly submit to
any settlement the majority might
make short of dollar for dollar and six
per cent.
We fear the low tax brethren have
forgotten their promises. AT all
events, no sooner had a proposition
to settle been made by the bond
holders and laid before the legisla-
ture, than the whole pack, Blanche,
Tray and Sweetheart, attack il with
the utmost herceness. The LEDGER
has been for some time doing its best
to stir up the people against this pro
posal by printed formidable arrays of
figures, making dolorious predictions
as to the crushing burdens it will en-
tail, and setting forth that whatever
is paid had as well be burned on the
public square, as the money will go.
out Of the state and remain out.
This course on the part of these
Journals is not only bad policy, but it
is bad faith, a going tack on their
pledges. 1t is a r%e-enactment of the
d~isgraceful fight made on 50-4 by the
very leaders who had agreed to accept
that figure. 1t shows what we have
always contended, that this faction is
for simple and complete reputation
Of the debt. Were a settlement Of
fered them at ten cents on the dollar
and two per cent. interest, they would
scrape up ZONE xcu to oppose it.
They use no argument that is not
equally good against paying any part
Of the debt, however small. They
care nothing for the moral aspect OF
the case. They are entirely indiffer-
ent to the honor and welfare of tho
state. They are made up of fanatics
who believe that a sovereign state
can repudiate and rot be the worse off
for it; of fanatics who are agrarians at
heart, and Of d%emagogues who care for
nothing but there own selfish ad-
yancement.
We warn the state credit men in
both branches Of the legislature that
they cannot afford to heed the organs
of a faction which polled less than a
fourth of the votes Of the state after a
most determined and elaborate can
vass. If the majority intend To carry
out the tacit instructions ofthe people
delivered through the ballot box, they
must disregard the demagogue appeals
Of the minority leaders, and 30 straight
ahead. The Memphis LEDGER warns
those who vote for a settlement, that
they will thereby commit political sui
oide. We notify the solons that those
who ohstruct and finally defeat settle.
ment-if settlement is defcated-will
forever politically damn themselves.