Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-07-22
WHY FOR BATE.
The Louisville Ceurier-JoHrnaI Refutes
the Charges of Inconsistency in It's
Position on the
Tennessee Debt, and Explains Why 1t
Supports the Regular Democratic
Nominee.


Our jocose neighbor, the Louisville Com
mercidi, whose disposition to poke fun at the
Co1rier-Jotlrndl is only rivsled by its zeal in
the cause OF reform, is just now amusing its
readers and itself with an attempt to estab-
lish an Inconsistency upon US in The matter
of the Tennessee debt. 1t makes, by way of
proof, two quotations, one of last December
and one of arecent date, in the first OF which
we urged the friends of public credit in Ten
nessee to stand by their guns at every cost,
and in the second of which we advocated the
election of General Bate. The Commercial,
whose Righteousness overcomes lis logical
acumen, fails to see that there is no ipcon-
sistency whatever in these two expressions.
There are three modes of dssposing of a
debt, to pay il in full, TO scale or compromise
it and to repudiate it. We have steadily
urged Tennessee to adopt the first of these
methods. The disqualified one hundred
and-three bill did 80. But, since lis nullif-
cation by the Supreme Court, no party in
the State has proposed the liquidation of the
debt dollar for dollar. On the contrary, the
settlement made by the last extra session of
the Legislature repudiates forty cents on the
dollar, proposing 20 close out the business at
sixty-and-six. As a matter of public credit
and honor, this is as Objectionable fifty
and.three, or iorty and. four, or any
other less cum than the full princi-
pal and interest, and discharges US,
all obligations to support it. Assuredly We
have never given it any other concurrence
than that of desire to get rid and have
done with a wretched muddle, which has
done infinite hurt to both Tennessee and the
Democratic party. Meanwhile Democratic
State convention assemblies at Nashville.
This is both large and representative. 1t
embraces the very best men In the party and
the State. By an overwhelming majority it
rejects the si1ty-and-six arrangement, and
proposes in lieu thereof the full payment of
what is known as the state debt proper"
and the settlement OF what Is called the
railroad debt" at the rate OF hfty-and-
three This, it is claimed, is more equitable
to The creditors OF the State than the scaling
of the whole debt to sixty-and-six. Whether
it be 30 or not we do not pretend TO say;
such details do not concern us. All that we
know is that both parties propose partial re-
midi alton. that fsn-eeuts the dollar
covers the issue between them, and that on
either hand cur choice is reduced TO one OF
expedients. Thus we have to choose betwixt
tweedle-dum and tweedle-dee-to sup
port a little clump OF boilers in
their efforts 10 continue the State In the
hands of the Republican party and 10 give
the administration another United States
senator, or 10 stand by our party and its
colors-we cannot for a moment hesitate and
there is not the slightest inconsistency, as be-
tween two schemes OF reputation, since We
have 10 take one or the other, in our prefer
ring that which is offered by our friends to
that which is offered by our enemies. OF the |
Democratic plan we may say, as "Touch- |
stone" of audrey" tits an IAN ill-favored |
thing, sir, but mine own" We discount it
for what it ia worth, promising that 1t Is |
worth at least as much as the sham pretense |
of those who preach for Tennessee honesty |
at sixty cents on the dollar, while preaching |
readiustment and reputation in Virginia. |
OF the Democratic nominee, however, we can |
speak without qualification or reserve; and,
the situation being thus simplifed, il costs US
nothing to rally with the great majority OF
the Democrats of Tennessee TO the banner OF |
true Democracy which General Bate
filings oct to the breeze and against the
flag of rebellion, whose folds are already |
Tapped by those OF the black flag OF Radi-
callsm. The debt is u sham, not a real issue.
Both parties propose to scale it. One OF
them have already scaled it. The difference
relates to a detail, not principle, and is one
of expediency purely. Assuredly, it is not
great enough TO constitute cause OF irrecon-
ciIable quarrel among Democrats, and is
trumped up by clique of ambitious bosses
for selfish purposes of their own. Wesimply
refuge TO be duped. We refuse to give our
consent to the rupture of the Democratic
party on a pre'ext OF public credit and
honor in order that the party which Is In
league with Malone may be continued In
power Ia this course we are justified by the
facts, by the argument and by our inclina-
ions, as we'll as the sympathy and concur
renee Of thinking Democrats throughout the
u zion