The Milan exchange. (Milan, Gibson County, Tenn.) 1874-1978, 1881-05-07

: and ruin. The people became dis
hcartened and they lost $500, 900 II
two years, while her neighhorins
counties, Marshal and Maury, in
creased their values. ! understand
that no pestilence ragged in that coun'
ty. that the hand of providence did mo-
affiict her people with any unusua
distress. The depreciation in hel
values is the result of the balefuI
influence and teachings of loN -taxer.
and repudiationists. The property
/ of my own county, where the healthy
public sentiment elected State credit
Democrats to the Legislature, increas
ed in value. So did Weakley and
Gibson counties. .tenths Of the
State credit counties increased in val
ne, while the county ofSumner, one OF
the richest and most prosperous in the
State, and nine -tenths of the low-tax
counties deteriorated in value. My
friend Mr.. Beasley's county .ncreas'
ed little, because she managed to
get SO, coo in one year in back taxes
from railroads, enough to run the
county for two years, and | hope this
fact will encourage the good people
of that county to come forward and
help to pay this debt. Mr.. Beasley--
1.-The gentleman from Henry speaks
of the amount the good county of
Franklin got. 1t is true that she got
S10,000..s 80. 900 of which went into the
pockets of a good State credit Demo
crat and the other $4,000 went to
another"
MIR. Cole. hope you do not envy
us little good luck. Perhaps
those good State credit Democrats
had confidence in the good county Of
Franklin and had credited her, and
reaped their reward in due time.
The great question that perplexes
us is the coupon feature in this bill.
| desire to say that my record in re-
gard to the State debt has never been
questioned. From the inception of
this question ylown to this day, | have
plead for tie payment of the debt,
and while these views were known
from one end of my district to the
other, the convention met and uhani-
mously nominated me, and l was
elected by as large a vote as any man
that stands upon this floor. The
only pledge | am under, if under any,
is the one implied in the Dem
ocratic platform. At the time the
resolution was adopted in regard 70
coupons our low-tax friends were as
sembled with us and we were trying
to unite the Democratic party upon a
platform. This resolution was intro
duced for the sake Of harmcny with
the hope that the party representing
the majority of the people OF Tennes-
see would still continue to control the
destinies of the State. Ut was tender
ed as an olive branch in order to ee,
nient the widening breach between
us, and after staying in the eonven>
ten and helping to put that resolution
in the platfo,rS.hey withdrew, and
instead of kflng. the platform
made war on. 10 party, and as be- !
fore stated, elected a iiepublican Cor
ernor. The cardinal feature of my
platform is to settle this debt, and !
am here us democrat to obey the
Instructions of'the party. The set
of this debt is a great ques-
ton with the people of Tennessee. I
They demand its settlement They
would prefer 80 $50 wouldI. But |
our low,tax friends told us the credj> /.
itor would not accept 50-4. and the
measure was defeated They were
right. The creditors say they would ,
net accept 80 I; that they will accept
this proposition, or go Sand this (10n-
3 is S162, 10000 per year better than
60-6. The people lIy an overwhelm-
ing vote had defeated the party which
said we did not owe the debt, and
elected those who said we did and
who were pledged FIR a settlement,
Much has peen said about tax
lble coupons being mortgage upon
The personal property of the State.
The old bank notes of Tennessee were
for taxes, and who was the
man that ever went over the State
SAYING they were q mortgage upon
.he property of the State. There is
not national bank note that is not
receivable for taxes, and dare say
hat all of us like to carry as many If
hem in our pockets rs we can. \
bond of $50 will draw S1.50 per year
md that coupons can be bought
)y the humblest taxpayer in the
State. He will have the same right
ind opportunity to buy it as the rich
st taxpayer, or as much as the IN IN
Who owes the State $50. They will
upply us currency. 1t is true that
when they are once paid into the
reasury they remain there, but before
hey get there they can be used as a
circulating medium among the ira-
ling people. The State of North
carolina passed the same kind of
ill. There was fo- years on the
tatute books Of Tennessee a statute
making them receivable for taxes.
rhe county of Davidson made all her
coupons receivable for taxes. Her
,eople are not slaves. The main
,bject of a settlement Is to get rid Of
he question. | know much elOquence
lpon this question will be lost, and
perhaps that is the secret objection
which some of our friends have to the
Not :. county warrant
5 issued which is not receivable Tor
axes. The creditor says Twill abate
NY interest one-half if you will give
ne note Tennt ssee will take for
lebt due her for taxes. Do you IN
end to pay it? if so why no; take It
or what is due yOu? Why force the
nan to pay the collector in money,
md then to the expense Of sending
lis coupon to Nashville to be eaihed
The dea Of sS00,000 being mort
gage ON. the people Of Tennessee when
ier taxable property is put down at
s211 ,009. .000, and the railroad prop /
erty Will amount to $780, O,OOO,OO /
with no other Increase anticipated.
What man expects to stand here and
zee the entire property Of the state
.ofd for SQ00 nflO ,,-han her taxable ,