Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-08-08
THEDEBT PROBLEM.
More Light on that Interesting Subject
The Only Just and Reasonable
Proposition.
Who Are the Repudiators-The Most
Ridiculous Political Movement
Ever Made in Tennessee.

Nashville Correspondence Courier-Journal, ID.
The line of argument followed by the rail-
road ringsters is, for the most part, abso-
lutely puerile. ''See," they cry out, "here is
Judge This or Colonel That on the Bate
platform, and vet from 1877 TO 1880 thew
supported sixty-and-six, enc hundred-and-
three, ~ffty-and-four, as the terms came up.
And here is the Co~urieT-Journai all along for
an honest settlement how can Il stand emong
the faithless?" And then they go of in a
wild search after motives, and find one which
lands a number of gentlemen in Congress,
and Mr.. Henry Watterson in the vice-presi-
dency. But did all or either of the gentle
men referred TO in this argument with a
false, not a real, issue ever declare that IN
less the settlement was made on the
particular basis they at the time sug-
gested, he or they would, though in a
minority of one to nine, kick the
traces and aid in disrupting the Democratic
party? Did they announce the intention of
persisting in a course which they openly
svowed would result in the triumph of the
Republicans, or express a wish that such re-
suit might happen unless they could have
each his own sweet will in the matter? If
30, then, were they traitors to their party and
altogether reliable? Before the grand army
moves every member may suggest details as
10 the campaign, buL when the plan Of baItle
is chosen and the masses put in motion If
becomes treason 10 desert.
WHO ARE THE REGULATORS?
Democrats outside the State discuss the
debt question incidentally. Their moral
support is due, and is rendered 10, the nine
in-ten Democrats, to the organization as they
find il. If the great body of the party in
Tennessee meet and agree TO fix the debt set
Element at ten cents or 500 cents on the dol
lar it is a matter which concerns no Demo
Gratis other than Tennesseans.
But the more your correspondent investi-
gates the debt question the better satisfied he
becomes that not only is the June 10th COM
promise the only possible. but the only just
and reasonable settlement under the circum-
stances. The following statement is as con-
else as it can be made, and L defy aoy i'm
partial man to read and not be convinced:
In 1880 there were three factions of The
Democratic party in Tennessee-Low-tsx,
Conservative and High-tax.
Fra.-The Low-taxers admitted the valid
ity of the State debt proper, but denied the
obligation of the railroad debt.
Second.-The Conservative party admitted
the obligation of both, but commended for
certain equities" in the abatement of the
railroad debt.
The High-tax party admitted the obliga-
ton of both, claimed no equities, and viewed
all propositions looking to an abatement of
the debt as a matter OF grace and favor TO
the State.
II is apparent that las in 1SS0) when the
issue was as to the obligation of the debt,
the Conservative and High-tax parties were
Joined against the Low-Tax party. The
creditors have conceded the equities" of The
State to be at least forty per cent. OF the en-
tire debt. Successfully they have agreed to
settle at sixty-and-six, ~6fty-and-six, 6fty-and-
four, Observation-Disclosures, sixty four-iye-
and-six, and Observation-Disclosures. 1t
81 - fko fso,a tkn IrVaa aan-
~vention met the maximum limit contended
for was sixty-three-four-hve-and-six The
Democratic platform proposes to pay the
State debt proper in full. This obviously
the maximum limit as to the re-
mainder TO less than sixty-three-four-hve-
and six. But assuming it 10 be that amount,
the limits were nothing, and sixty three-four-
fye-and-six. That which the party admits,
it proposes to pay in full. That about
which its members differ, within the limits
stated, it proposes to settle at fifty-and-three.
Viewed merely as a proposition, without
taking into consideration the political en-
v%ironment, il is fair, liberal and just. The
discrimination" of which the boilers COM
plain is the soundest principle in the June
Goth platform. The payment in full of hat
is admitted, and the compromise and
adjustment of that about which i~rreconcilaAt
BILE differences exist, is right, fair, just, hon.
orable aud absolutely indispensable to the
maintenance of the Democratic party in this
The boilers really unjustly discrimi-
nate against the State debt proper which all
admit to be due, by absting it forty per cent.
because doubts exist as TO the remainder of
he debt.
Now who are the repudiators? Bate men
md boilers alike say the State debt proper
all due. Then pay it, say the former.
But no, the latter reply, we will r~epudiate
iorty per cent. of it. AS to the other part of
debt, all admit certain equities" pre-
Bate men say to fifty, the boilers
ixty per cent; a small difference, indeed on
which to wreck the Democratic party. Well
lid Mr.. House say: ''This bolt was the most
nexcusable and ridiculous political move
nent ever made in Tennessee"
l respectfully invite the few anti-Bate Or
,ans in this State TO try conclusions with the
oregoing-to break a lance or two on the
old rock of facts above presented. But
hey will not. They will simply make some
ide-eplitting ~allusion to Caesar Elephants
Joe's brother" insinuate Greek
and bemoan '~'extravagant state
TENNESsEE's POPULATION AND HER Z
CAPITA TAX.
As a matter OF interest to the people of this
tate / have made an estimate of her popu-