New-York tribune., 1882-02-16
THE TENNESSEE BONDS CASE.

Holders of Tennessee State bonds have
taken no action regarding the recent decision Of the
state Supreme Court They appear generally incincdtH
nothing BUTT has been suggested TO the Bondhoders
Committee 10y some of them that the hill declared uu-
constitutional should be passed again ny theLcgisature
together with tax bill providing for the leyying of
tax eA Apres,y intended to pay the interest the debt
IL is said that this may the present cihcuy
ana the time afford bondhodcIs some security
for the payment interest. Many bon1holdors
press great unwllngnesS Ia surrender per cent bond
for a per cent one on precisely the same terms.
John c. Brown Ex-Governor Of Tennessee, is at the
Gscv House. where TEIBuNE reporter called on him
yesterday Ills personal appearance Is commanding
He il over ok Get in high well proporoncd. wear
beard which, like his hair Is black. and Ire Is about hy
years old Twice elected Governor of rennesS
in 1870 and again in 1872. AT the close OF his second
term he i!ced from political lfe and i, in charge
Of the legal business connected with the southwestern
Rail- Oad system, having his Office az St Louis In con
versat on reporter yesterday the recent dcc
sion Of the Supreme Court Of Tennessee, affecting the
debt of the Stale, was mentioned.
What will be the result politically p the reporter
asked
"Itis rather too soon answer that question: was
the reply, afraid it means that Tennessee is 10
become Republican state The Democratic party is
divided the debt question, and the State Credit party
will probably vote with the Republicans in order 70 de-
feat the HcW.datOrs.
whom you G0vcrnOrP
Neither on this nor any other question"
when did tie division Occurl"
"AndTew Johnson in 1874, entered the separatng
wedge in to be Ell He j. the la her
CT repudiaon IN IcIncssee and he crentcd It for per
SOnal reasons The Obj c al one and = not large
for that Shte; and have always taken tire ground that
Il shOad be p I'D with itE accrued interest Wnen Mr..
johnson began TO 4cl his doctrine OF rrpuda0Ou he
cal by h 4 repUlSive iIe appeal
pockets thr farmers business
There panic last year Inc Gent is legal enough,
but r Is unkrd ask you 10 pay he interest on the
will suspeud paying The interest at present That
the beginning of he present s. stem of rePudlaiOnV
"Was the deb, contracted or Increased Nme you were
GOyeruorP
" No, II racted previous 10 the var, and
in the two or hree years Immediately sfi eT he war;
What Official action did yOu take with regard t1 IL 2!
In my frs message stated hal with the reception Of
the bonds j. ued Ia Insurance Company OF the Valley of
Virgina.and the VI n raj Home EarOId Company, the
world that al Ocr bonds issued under he scublance
OF law regarded obligatory upon the lLc
two comp IieH mentioned tHboOtd by AN Act Of
the Legi-laiure amended the previous year"
" How that declaration made I"
passed IN 1869 and amended in 1870
which pro vided that railroad companies to which bonds
OF had been loaned hi lat cancel their obgl
tons TO the vita bonds Of any series numbers
eXcspl those two companies"
How the OF the Judges made known last
week TO private persons before IL was publicly hn-
uOunced =
~ an sure don't know astonshed 70 hear the
decision for know the men personally, and believe
them al 10 be thoroughly honest What was make pub
lie douI less came from some Of The clerks"