Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-05-25
Colonel II. Clay Kiug Does Not Want to
PAY Any Thing.

Col. H. c. King was called upon to ex,
press his views. He stated that he desired
| not to make a speech. He came as a tax.
| paying citizen of Shelby county. The ques-
ton before the meeting was business that
| concerned the taxpayers and their fami-
| to express. The question was, will the peo-
pie of Memphis say to the bondholders that
they shall receive twenty five cents on the
! dollar, and no more? He had been away
for some time, but, having returned, he dis
covered that the people of Memphis were in
bad financial condition. He had investi-
gated this matter and found but little bust
ness progressing in retail way. Hundreds
| OF houses are advertised for rent, and tax
| notices were served everywhere. So far as
| he was concerned, the tax-collector would
! have to send a few more bills-he had no
| money to pay. He had been at work all the
| time, but his earnings were not sufficient to
pay these taxes. He was to-day, with some
property, poorer than when he started in
Memphis without a dollar. All he could
get together went to pay the taxgatberer.
Other people were in his condition. There
were thousands OF widows and orphans in
our city. We were working for sub
sistence for our families. He proposed
to speak for the poor man, who was un-
able to pay anything to the bondholder
at present. His plan was, unless change
takes place, that Memphis people would
have to go elsewhere. The remedy was TO
go on as you are doing, and instead OF pay
ing twenty-five cents on the dollar to the
bondolders holding S6,000,000 of funds
take that money and add it to your manu-
factures, and give employment to people.
Applause.
COLONEL KINGS REPUTATION REBUKED BY
JUDGE CLAPP.
Colonel Clapp said that men in the in
terest of the bondholders were at Nashville
advocating paying the debt dollar for dol
lar, but the people of Memphis proposed to
pay twenty-five cents on the dollar. Colonel
King proposed to pay nothing, but 1t would
not do to go before the Legislature and adj
vocate the payment of nothing. The ques-
ton was, will you recommend paying
twenty-five cents on the dollar, or the pay
ment Of dollar for dollar to the bondholders?
WHAT TAXING DIsTIcr-ATToRNEY HEIsKELL
SAID.
Colonel &. ". HeiskeH, 6ify attorney, said
The Tdring Di'ti.t government had nothing to
do NTH The settlement of the old city debt. He
tpod neUer agree 10 giue the creditors Of The cid
city government an opportunity TO put mdnda-
mus on me people Of Memphis for any purpose
The old fares are to be turned OUe,' 10 the bond
holders, and The sum Of t'0enty 6re cents propo ed
10 be paid to the creditors tgU giUe them ty cents
on the dollar for bonds mich they paid but
teeHty or thirty cents for. applause
WHAT EDWARD SHAW AND OTHERS SAID.
Mr.. Edward Shaw said the plan devised
to escape from the old debt was the new form
of the Taxing District government. The
men we owed cared nothing for the
Improvement of Memphis, the educa-
ton of her children, or the best in
terests of her citizens. They want dol
lar for dollar on the face of their bonds.
He opposed offering any compromise to
these mandamus enforcing bondholders,
who now had no remedy at law and were de-
that we are relieved, and improve the streets,
educate our children, and preserve the sani-
tary condition. Applsuse.
Mr.. Heiskell remarked that the creditors
had gone to the Legislature and sought to
enforce the payment of dollar for dollar, and
the question was, he thought, to pay the
amount demanded by the creditors, or the
twenty-five cents on the dollar proposed by
the people of Memphis.
Mr.. Minor Merriwether explained that
the question was, to make some provision to
pay the debt of $6,000,000 which hangs over
our city. Had we not better do something
in order to retire the debt to 81 500, 900, and
take the question out of politics? He
called for the question.
RESOLUTIONS ADOPTED.
General Smith put the question, and the
resolutions were adopted, only two voting
against them, and they were opposed to pay
ing anything.
ADJOURNMENT.
On motion of p NJ. Winters, the meeting
adjourned sine die.