Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1882-07-01
ADDRESS OF THE STATE
DEMOCRATIC COM
MITTEE
TO the People of Tennessee.


pointed by the Democrats of Ten
nessee, to present to the people of
the State the reasons which impell-
ed them to dissent from the action
of the Readjusters, submit the fol-
lowing:
The Joint convention of the two
wings Of the Democratic party,
which assembled at Nashville ON
the 10Th instant, failed to harmO-
nize, and for the reason that large
majority of those present adopted
resolutions in regard to our State
debt, plainly and distinctly i'll OPP
position to every declaration made
heretofore by the Democratic party
and TO the fundamental principles
of Democratic Government.
The resolutions declared the set
Element of the State debt made by
the Legislature with our creditors
to be unWise, because it Is not in
accord with the views of the people,
and agreeing that what is common
ly called the State debt proper shall
be paid without abatement, except
war interest tenders to the other
creditors an offer to settle by pay
ing one-half the sum due in bonds
of the State bearing interest until
maturity at the rate of three per
cent. per annum.
This offer was made after months
of discussion through the press and
on the hastings, and therefore must
be accepted as the ultimatum of
majority of the JOINT convention.
The subject has Tor years engaged
the attention of our people to the
exclusion of almost every other one
of local interest. AS far back as
1869, when Gov Brownlow's rule
was overthrown and the disfran-
chised majority of the people took
control of the government of the
State, a resolution was passed unan-
imously by the Legislature, and
that Overwhelmingly Democratic,
declaring, 'That the people of Ten
nessee will never signalize their
res .nratiOn to the control OF public
affairs by eanctioning in any ihtn-
ner an indifference 10 public ohliSa=
tions," and "that eXpediency, to-
gether with the honor and good
faith of the State, demand that the
interest un the public debt be paid
at the earliest practicable moment,
and its principal securely provided
for at maturity.
This utiprance by the Legislature
was approved by the Democracy,
when John G.. Brown their candidate
for Governor, in 1870 and 1872, ODE
dent to their wishes, took high
ground i'll behalf of State credit,
declaring everywhere upon the
hustings that it was the duty and
interest of the State 10 pay the en-
tire debt. This position WAS sus-
tanned at the ballot-bOX by inaiOri-
ties of many thousand.
In 1874 and 1876 the Democracy
in conventions solelnnIy declared
their purpose to oppose reputation
in every form, and in 1880 affirmed
it to be their purpose, and the duty
of the Legislature To settle the debt
with the States creditors upon
terms to be agreed upon with them.
The Legislature, after comforting
with the creditors, has agreed upon
terms of settlement. In accord
ance with the terms of this set
Element, embodied in bill, en-
acted into law, now in force, the
creditors are to receive in payment,
new bonds, for sixty per cent. of
the sum now due, with a graded
interest of 3, t, D, and 6 per cent. per
annum.
The offer was voluntarily made
by the creditors was the subject Of
discussion between them and COM
mittee of the Legislature. The set
Element recognizes the SO-called
equities of the State, and saves to it
| more than S11, 100000 Nobody
complains that ii does injustice or
wrong to the people, in fact, every
body knows that the proposal was
made in Il spirit of liberality that
meets the appreciation of men of
every party, for it is not pretended
that we are unable 10 pay the inter-
est as it shall become due, or pro-
vide for payment of the principal
at maturity. The only objection
offered to il in the late joint cOnven-
ton is that it sis unWise" because it
| sis not in accordance with the views
of the people"
For that reason, and that alone,
as the resolutions adopted show,
the majority propose to disaVOW
the settlement, and tender an offer
to the creditors upon the basis to
which we have heretofore referred.
This offer is not the act of a legis-
latiye body, the law-naking power
of the State. 1t comes from party
acting in its own interest, and is in
! tended To promote the success OF a
party movement. 1t is intended,
| to use the words in eVerybOdy's
mouth, to secure Democratic har-
mOny, and defeat what is claimed
to be trick of their adversaries.
1t seeks to bind every member of
the Democratic party, however
strongly convinced he may be, that
honor and fair dealing, the peace
and repose of society and the good
of State, demand the full and
prompt performance of the contract
already made.
In effect the action of the majority
affirms that the State, in respect to
its obligations, disregarding every
consideration of fairness and JUS
tice, should abdicate its high func-
tinns as a sovereign. and its Obliga-
! tiOnS to do equal and exact justice,
| and leave every question, whether
involving the liberty of the citizen
or his rights of property, to be de-
termined by the majority of DOM
inant party.
The minority, in the joint con-
vention, cannot accept the action of
the majority as a correct exposition
of Democratic sentiments, or con-
sent to be bound by it, as Declara-
ton of Democratic principles.
If we owe the money we should
pay it, if able to do so; and surely
no one can say that we are unable
to meet the requirements of the set
Element. If we do not owe the
money we should not pay, but, in
case of doubtful right, should open
our courts and leave the question
to be judicially determined under
our own laws and by our own tri-
bunals. The fact that the bonds out
standing were issued in pursuance
OF laws on the statute books, were
signed by our Chief Executives,
and bear the broad seal of the State
should entitle the holders to this
poor need of justice.
But, although many members OF
! the resolutions under the belief that
the State is under no legal obliga-
ton to pay the bonds, yet the rcsO-
I = fhof tho