Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-05-25
Report of the Mass n Getting of the Cit.
gems Of The Taxing District Held JAM


| Report OF the Mass n Getting of the Cit
gems Of The TaxinE-Distr1ctH Held Jan
| uary 81, 1851.
At the Greenlaw Operahouse, last night
| some 500 representative citizens appeared il
response to the following call for meeting
published in the journals of this city:
There will be meeting of the citizens of Mem
phis, at the Greenlaw Operahouse, at $50 o'cloc
| on Monday night January 81, 1881, for the purpos
of considering the settlement of the old city deb
pending before the Legislature.
At the appointed hour Messrs. Josiah Pat
terson, j. K. Goodwin and J. NJ Goodbar ap
peared on the stand. and were received will
applause. As they did so, Tom O'Sullivan'
Little Democrat fired salutes on SeconC
street, in front of the building.
OBJECTS OF THE MEETING.
Mr.. Josiah Patterson stated the objects o.
the meeting to consider the proposition made
by the people Of Memphis as to compromis
ing with the bondholders The proposition
was Just and honorable, and he called the
meeting to order.
Mr.. p. NJ. Winters moved that General
W. J. Smith be made permanent chairman
of the meeting. The motion was put and
carried amid applause.
CHAIRMAN SELECTED.
General Smith, on appearing on the stand,
expressed his surprise at being called upon
to preside, because he saw before him many
gentlemen more able than he to preside. He
was not fully advised as to the object of the
meeting. He came here to consider the best
manner OF settling the debt of Memphis.
He never owned bond, but he owned the
next best thing in Memphis-real estate
and that had deprecated. If that is not
worth more than twenty-five cents on the dol
lar than 1t was year ago, why should they
not consider the value OF the city debt
Capital is jealous master, and the question
with the bondholders is, "What is your real
and personal property able to payW He
came here not to speak, but to hear others
speak. [Applause]
THE SECRETARIES.
On motion, the representatives. of the
city press were appointed to act as secre-
taries.
COMMITTEE ON RESOLUTIONS.
Mr.. /. n. Snowden moved that commit
tee of fifteen be appointed, of which J. w.
Clapp would be chairman, to draft resolu-
tions expressive of the wishes of the meet
ing. The melton was put and carried unani-
mously.
Chairman Smith appointed the fol-
lowing committee of fifteen: Messrs. J. w.
Clapp, chairman; S. II. Brooks, r. K. Church,
w. l.. Marsh, E. Lowenstein, p. Nj. Winters,
John w. Voegeli, Napoleon Hill, ]. j.
Busby, w. II. Bates, w. P. Proudft, Dennis
~. d.
Miller and John w. billiard. On motion,
Mr.. 1. N. Snowden was added to the COM
mittee.
COLONEL GANTT's REMARKS.
% motion, Colonel George CAN'T was
invited to address the meeting during the
absence of the Committee on Resolutions. He
was received with applause. He expressed
his thanks for the call. The night was
gloomy, but the people turned out. They
had seen the heavens overcast before. They
came in sunshine and storm. They had seen
darker days, when the heavens were over
cast with lowering clouds two years ago,
when they were in the power of the bond
holders, who had only to walk up and bite
and bear it, and at last we had to throw
overheard moribund government and Sc
cure a cheaper government. We could not
pay our police and fremen, and We had TO
resort to the rule of self-preservation. We
did not desire to repudiate the debt, but we
had to pave our streets, pay our employees,
take care of our public schools, educate the
blacks and whites, preserve health, have
good streets for commerce, and when we
have done all that let us think about the
public creditors. Applause. We were told
by the bondholder that we could not institute
a new form of government and get rid of the
old, corrupt form of government. We did
not believe this. We secured law estab-
fishing the Taxing District. We were told
the law was against us. The Supreme Court
of Tennessee decided in our favor, but the
sid: await; there is higher
court" But the Supreme Court of the United
States said the Taxing District form of gov
eminent as right, and the new form of gov
eminent was not responsible for the debts of
The old government of Memphis. Applause.
Some years ago a mayor of Memphis and a
city attorney appeared in his Colonel
Gantt's) Office and stated that contractor
Of the Nicolson pavement had attempted to
bride aldermen and councilmen to vote for
The Nicolson pavement fraud. A contractor
was indicted, tried before the Criminal
Court snd found guilty, and his bondsman
was T. Z. Brown, the Nicolson pavement
man. The briber left, and hiss not been
heard of since. These bondholders paid no
more for the city bonds than twenty
i've cents on the dollar-many of them not
hat much. This amount we offer them; but
life comes first, health comes second, and the
oondholder next. [Applause.l
COMMITTEE ON RESOLUTIONS REPORT.
At this point Colonel Clapp, chairman OF
he Committee on Resolutions, appeared on
he stand and presented the following series
If resolutions, which were received with
applause. Colonel Clapp moved the adoption
# the resolutions. He said he had lived too
eng to now appear in the role of a repudia-
or. He had always paid his debts, and he
loped to die able to pay his debts, but he
believed the time often came when the en-
of public debts became a crime
Igainst humanity. He had stated in the
Iegisla sure that while debts should be paid,
he time would come when the debtor should |
ay to the greedy cormorant of a creditor,
Thus far shalt thou go, and no further"
These men were more remorseless than the |
,estilence, tn an yellow fever, and they should
Wait until God had given the people a
,hance for a living. These creditors had
hown themselves destitute of the common
ceilings of humanity. The cormorant cred
tors were Tightening their grasp around the
ity, while pastilence prevailed within. The
lew form OF government has been success,
md now other cities were following the
set by Memphis. [Applause.l
WHEREAS, We. the citizens of Memphis, in mass
he subject of settling the debt of the late munich
,alitv of the city of Memphis, have adopted the |
resolutions as expressive of views in
elation thereto:
ResoIoed That our object and motire in establishing
he Turing District Of shady county not to rept
jiafe an existing indebess, bat to reIieue oHrsetpes
II cumbersome ileeielt and erpeIisiue nltniciDdl
;oreraseat and to substitute therefor simple cheap
S g S Gy1est and egoia an Sra1G and rSS ot
Expenditure Of money, bat to put ourSeecs IA proDer
1OroIgh system Cf drainage and Sererdge and such
,fe asds,tr6s as tGere required odrd oT M Tres
N a fesece thdt had more than deciBGed our llot-
alton and eatdilod pecdry loss Of millions OF dol
rs and tuheR these o. fcs accomplished n nos
mr. desire and expectation 10 settle the Old liGIaifes
NON f1Fas honorable and just 10 al eoaceTueF- STcH
$STTI EMENT, no WEIER, TO BE SEP4R4TE
1VD DISTINCT FROM THE NEW GOTERN-
Want
ne time of the repeal of lis charter, virtually
bankrupt corporation. we think adjustment of
~ Indebtedness upon basis of fifty cents on the
ioliar or a rate approximate thereto would be as
much as the debtor could promise the creditor
expect; and we therefore announce
~ rseires in favor of settlement at twenty-five
cents on the dollar in addition to the back taxes of
aid CITY which, added together will, we believe
by iudieious management, amount 10 fully as
,nuch and perhaps considerably more than fifty
cents on the dollar of the debt And we declare
ourselves in favor of this settlement because we
believe il TO be fair and honest to the creditor and
would be pleased to see the debt paid in full we
are of the deliberate opinion thst the proposed
settlement is the utmost farthing that can be paid
without srievous and irreparable injury to those
upon whom the burden win rest: and il viii real
lie larger percentage of the debt than the people
of Memphis derived in benefits therefrom;
a larger average than the creditors paid
for the evidences of the Indebtedness they
hold and more than the debt is now worth in the
ma ket. settlement upon a higher basis could
not, and would not, we firmly believe. be carried
confscation and ruin. We claim to have Just
appreciation of the Obligation of contracts State,
and private, but at the same time we
recognize the fact that there are higher and more