Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1881-05-28
AN EFFORT TO REOPEN THE
STATE DEBT QUESTION.


ed by the filing of an injunction bill |
TO restrain the funding of the debt |
under the bill passed by the last
This scheme is the result OF an
alliance between two different inter-
ests. First, there is a political ring,
composed of the desperate and dis
appointed leaders of the reputation
party, who, knowing that if the debt
should once be funded under the
settlement bill, that it could never
after be disturbed; such settlement,
under the coupon feature, cOnsti-
tuting a contract that could not be
repealed by any subsequent legisla-
ture. TO prevent this funding I'M
til another canvas could be made,
and legislature elected who would
repeal the act before the debt was
funded under it, is the object of the
political part of this combination.
They well know that they can not
sustain the allegations of their bill
upon final hearing, and that if they
could, that the facts relied upon by
them would not nullify tine act; but
their hope is to sustain an injunct-
ion long enough to enable another
legislature TO be elected, who, they
hope, would repeal the act, and
thus reopen the question that has
given them all of their political
standingI
The other part of this unholy
combination is a gang of reckless
spectators, who, it is said, have
been selling bonds short, and join
in this scheme to depress them that
they may buy and fill their con-
tracts. For a month past it has
been well known that this ring have
been preparing for this state of af-
fairs. The points of the bill we
take from the Nashville Banner,
and are as follows:
ton of the debt, and alleges that certain
number of the bonds We're illegally issued,
to-wit: The Mineral Home Railroad bonds,
bonds issued for war Interest, and bonds is
sued for war purposes. 1t charges that the
100 act was procured by bribery: that a
majority of the Legislature met pledged
against any such scheme; that divers men,
bers of the Legislature were engaged at the
time OF the passage of the act in specializing
in Tennessee bonds the profits of which
speculation depended upon their votes;
that one member OF the Legislature receiv-
ed $4,000, another $4,000, and a third was
paid 5000, but his heart failed him; he paid
the money back and he refused to vote for
the bill. In addition To the frauds alleged,
the bill charges that the I0O-3 act is uncOn-
1. Because it appropriates revenue for a
period OF ninety-nine years, while the con-
stltution directs that no appropriation shall
be made for "A longer period than two years
or until the rise Of the next General Assem-
bly,.
.. 1t charges that 1t violates the constitu-
ton by comforting judicial powers on the
executive officers Of the State, in that IL di-
reefs them To pass upon the legality or ille-
gality of the bonds.
3. IL violates the provision of the constitu-
ton IN reference to the school fund, b, cause
by the coupon feature of the act, the reVe-
nue raised to pay the interest on the school
fund may be diverted by the coupons to
pay interest on the bonds issued under this
act.
4. 1t violates the constitution, which pro-
vides that the Legislature shall have no
power TO suspend any general law Tor the
benefit of any particular individual, nor to
pass any law for the benefit of individuals,
inconsistent with the general laws of the
land, nor to pass any law granting to any
individuals rights privileges, immunities
or exemptions other than such as may be
by the same law extended to any member
OF the community who may be able to
bring himself within the provisions of such
law. said act provides for the funding of
bonds held. hX certain bOndhOldeTs, but
sF~~fniiy eNceptS bonds held by the charita-
bic ana educationaI Institutions OF the
state.
5. 1t violates the constitution, which pro-
vides that all acts which repeal, revive or
amend former laws, shall recite in their
caption or otherwise, the title or substance
of the law repealed. revived or amended.
said act repeats the 5lst section of the act
of March, 1873, which prohibits the recep-
ton of anything but treasury warrants, gold
and silver coin, United States Bank and
Treasury notes, and old issue of the Bank
of Tennessee for taxes by making coupons
receivable for taxes; and repeats sections
DO tO'2lS inclusive OF the Code.
The so called constitutional points
are what the lawyers call the mer-
est ''fiy speck criticism" and seem
of no importance. Indeed, the low
tax judge who granted the fiat in it,
says that most of these points he
deems to be of no Importance. The
grievances OF the bill consist in the
charge that the bill was passed by
improper and corrupt measur es.
We do not hesitate to say that il
there was corruption in the passage
of the bill, that we hope it will be
Terrified out, and both the corrupted
and corruption will be dealt with to
such an extent that they may be an
example for all time. Such charges,
however, are easily made, and are
the common resort of the defeated
party, and hence are entitled to no
credit whatever until they shall be
sustained by proof. During the
passage of the bill the air was full
of ISLANDERS, and it was freely charg-
ed that an extensive ring of low-taX
short spectators were freely using
money to defeat the bill. This
crowd on the other hand charged
similar tactics t. the friends Of the
measure. This condition of affairs,
this loose charge of corruption, af-
fords the strongest argument in
favor of final adjustment of the
debt, and the permanent removal
of the subject from politics. In the
Olden days, before this agitation
against the payment of tho debt
arose, no whisper against the in
tegrity of Legislature would have
been cOuntenanced. This democrat
ization of the politics Of the state is
solely chargeable to the making OF
IA political question out of our state
debt, and this is the feast that we
are invited to continue indefinitely
by Messrs. Marks, Savage & Co.,
and If their litigation accom-
plishes the purpose they have in
view, will, for the next decade,
subject every legislator, whether he
take the one side or the other to
charges or suspicious of corruption.
The legal question presented by
these charges affecting the motives
of the legislature has long since
been settled. Chief-Justice Mar