The Evening critic. [volume] (Washington, D.C.) 1881-1885, 1882-07-19
H,iua. Leaders of the Blind.

Nashville (Tenn.) Republican.
The State debt, as settled on the 60-3-1-5-6
pasis, amounts to about $1S,0OOOOO; on the
basis proposed by tho harmonized Democracy
would be s22, 900, 900, or four millions more.
Now, the so-called united Democracy assert
that they are low.tax fellows, and going to
manage this financial question to the saving of
millions to the people OF Tennessee, who have
had such hard time of 1t, and arc too poor to
make an honorable settlement Of their indebt.
edness.
This is the way they arc going to save you
millions. In the platform OF the Joint conven-
tions they state;
the bonds issued for the building OF our cap.
itol, for the purchase OF the Hermitage, etc,
and commonly known as the State debt proper,
with accrued interest, tho validity OF which
has never been disputed by any portion OF our
party. We consider as solid and sacred obli-
cation OF the State, and favor tho payment Of
tho same in full, less war interest," That we
tender to our creditors q settlement of the re-
mainder OF the State debt by paying one-half
the principal and accrued interest by Issuing
the bonds OF the State bearing interest at the
rate OF three per cent. per annum."
Nov, the following is the State debt proper
in bonds Issued for the follow Ing purposes:
Union and State bank........."..S 3,00o000
Turnpike. Observation-Disclosures. 1,436,O00
Capitol. tol......................... 1,166,000
Agricultural Bureau. ............... 10000
Hermitage. ......................... $4,000
Total. .....................,.,.s 5,6so,0oo
The State has never paid any OF
these bonds except those paid
by selling the turnpike, say, $4,000
Which leaves. es.............,........,s 100000
The Interest on them from 1861
TO 1866 was funded under act OF
1866, Vlz,,........,. ......'''." I,ooO,OOU
Total State debt proper In 1866. ....s 6,SooOOo
est was again funded ............. $4,000
Iotai,.,. ',...:..'.,''..'';,.....' H'lo'ooo
and the interest was again fund
ed in 1873, say years. rs.......... 1s507si
Total State debt proper In 1873,
after It was funded. .;.:......:..:s 0,5e8,7s4
Interest TO 1882, less IS months
interest paid. 4,305,o
TOtal ..'..sss ,.rlo,6Il,SJB
This represents to-day the State debt proper
of Tennessee, with which the railroads have
had nothing 20 do.
This part OF the debit nearly $4,000, 900,
the Readiusters say In their platform should
be paid In full, with interest at o per cent,
GOO, be settled at bO-3.
The state debt proper then being $4,000
600 paid In full, and $16,000,000 at 500, as
proposed by Democracy, would be S22,000,.
OCO; while upon the Republican basis It would
not exceed S1S,O0O, O,OOO-showing that the
debt OF the State refunded on the basis set
forth in the Democratic platform would bo
$4,00O000 greater than refunded upon the
Republican and state'credit basis OF 90 Sd
5.6.
VIII the people continue TO bo blind 10 their
own interest and follow Democratic leadership
to such deplorable results?
The State OF Tennessee has never paid ono
dollar OF her State debt proper, save a small
amount realized from the sale OF turnpikes;
but tho railroads have met three-fourths OF
their debt. The Readiusters say that they
want to pay in full the State debt properi but
can any one believe themg Their protesta.
uons about paying II In full Is sheer non
sense ana 10 contradicted by their past rec
ords and Will deceive no one.