Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1882-05-29

rapidly coming up to the conclusion
that the sooner tho old city debt is
compromised and the question relieved
Of its uncertainty the better for all
who have an interest in the fortunes of
the place. An early and an honorable
adjustment is desirable and all-im-
portant. We are at dead stand still
on account of this impending ava
lanche. 1t deters men from branching
out into various manufacturing enter
isesand keeps the outside worldaway.
How much do we gain by fighting off
the inevitable? The evil day must
come sooner or later, when taxes will
be levied and paid to meet the inter.
est on that old debt. If the bondhold-
ers will dismiss their suits and agree
to take fifty cents on the dollar, with
a low rate Of interest, it would be the
part of common business sense to ac-
cept the proposition. OF course, if
they insist on fighting it out in the
courts to see what they
can make first before max
ing any compromise that ends
negotiation for the present. But we
insist, aside from any discussion Of
the bill passed by the Legislature,
that it is time to quit Dragging about
our poverty and epidemics and hon.
ored yellow fever heroes aud COM
mence talking about what we can do
in the future that will be worthy to
compare with the noble struggles of
the past. Notwithstanding the sym
pathy and liberal aid lavished on
Memphis in the hour Of distress
the name of the place has
been dragged down and banded about
| in shameful manner. This seems to
be done fippantly, thoughtlessly and
even maliciously. Much that has
been said about the repudiating spirit
and intentions of Memphis is utterly
reckless and unjust, but it does US
harm all the same, for the general
public does not take the time TO study
the history OF the various circum-
stances that brought us into our un-
fortunate plight. 1t is not to be ex'
pected that we will commit municipal
hari kari or deliberate self destruction
butthe surest way to this is to plead
inability, foster a spirit of indifference
to the opinions of the world aud si
; still until the few large business
houses have absorbed or sapped th,
life of the smaller ones. Memphis mus
either go backward or forward Thel,
is no such thing as standing still w
cannot advance while the old debt i
hanging over us. The LEDGE
advocated the repeal of the oil
city charter as last desperate resort
. and would do so again, but not for tn
purpose of repudiating a debt W
asked for breathing spell, and it wa
Q cheerfully granted by the Legislature
1t is not our purpose, in facing thi
issue, to destroy or weaken the presen
! city government, which is, in many re
y spects, the best form oFlocal govern
ment ever devised Nor would "
consent to throw the city back so
10 could be reached by cumulative judg
ments and one mandamus afte
another to collect the same debt. |
is desirable rather to build up a seuti
ment in favor Of resumption aud t
show the creditors of the city and tn
world that we have confidence in our
selves and propose to come TO tn
front as a live, progressive place
Let us show a willingness to help our
selves and fall into line with othe
progressive communities, and ther
capital and labor will set in towart
Memphis, instead of flowing off as
by a centrifugal force. 1t may re
quire a heroic effort, but there is gri
and public spirit here fully equal t.
the emergency of the occasion, if
can but be brought into hearty co
operation.