Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-02-15
WHAT THEY SAY.
Opinions of the Press Regarding the Re-
cent Decision of the Supreme
Court Concerning the
State Debt-A General Sentiment Against
Reputation in Amy Shape, Man
ner or Form.

Nashville BdaReT: "The decision was not
| unexpected, especially since it was known
! that one OF the judges had, week ago, in
/ timated what the result would be. We re-
| greet the decision, as every patriotic citizen
must do. We regret it not alone because it
is not in accordance with our own personal
| views, but because II casts a stain upon the
| fair escutcheon of our proud old State. Ten
nessee has not repudiated her debt, and we
| have an abiding faith that she never will.
We are defeated but not cast down, over
come but not dismayed. We do not, like the
low-tax papers, heap quires of reproach on
! the Supreme Court for not thinking as We
| did; on the contrary, We commend them for
doing what they thought was law"
The Nashville Banner thinks "the most
| important duty now remaining is to settle
the debt as soon as possible; all who favor a
! fair settlement should unite. The bonds are
still out and drawing six per cent. interest,
/ and instead of 1908 the State is responsible
| for 1905. The question in the next cam
paign is reduced to this: Will the legislature
agree to pay the interest on the debt or re-
| pudiate it?"
Nashville American: 1.-THE Democracy OF
| Tennessee still have on their hands the set
| Element of the State debt. The creditors
hold a six per cent bond which they are en-
| titled to have paid, or the interest on them.
| II they choose to abate anything it is their
| lockout; the State has no right 10 invite it,
to force it, or TO propose it. The creditors
| have made propositions, and the legislature
may be fairly called 10 consider an open
| question, or TO provide for payment. The
| Democrats will cooperate with anybody to
| relieve the State of this incubus and wipe
out this disgrace. They have no animosities
and know no past as to those who are with
them upon this matter. They will not abate
| one lot, or compromise away one iota, or
| barter one title OF the principle of public
honor and faith for any end"
Nashville Ford: "However much we en-
| Joy the satisfaction of having our Judgment
vindicated by the Supreme Court, we do not
come in the hour of victory TO crow over
| those Democrats who have differed with US
in opinion. The question must be settled.
| The State has suffered too long already from
| its baneful and demoralizing influences. Let
! US forget The famIly quarrel which We have
had. We are all Democrats. By our bick-
| erings and strife among ourselves we elected
| a Republican governor. This debt can never
be repudiated, and we will never lead or fol-
| low any movement which has that end in
| view. Let make an honest effort to settle
| this debt and get rid of the question forever"
Chattanooga Times: "The first reflection
that will occur to an observer OF political
events and a previsor of political futures
will be, How is this decision to probably
affect parties in Tennessee? Our own judg-
for some able 'Readjustcr.' The State-credit
Democracy control the brains OF the party
The other faction is without Leadership of
any respectable quality" Speaking of the
fact tn at the decision was prematurely known
the Times remarks: ave believe SEINE one::or
more OF the bench leaked. We can frame no
excuse for such conduct of Judge. 1t could
only proceed from want OF decent dignity
or desire to make money. There are rings
within rings. 1t ic whispered that brother
OF one Judge has been selling bonds on the
bear side OF the market. Several other and
more damaging whispers are circulating.
The judges must rise and explain how their
holding got abroad"
Knoxville Tribune: I'VE deny that the re-
pudiation sentiment has gained ground
The people are honest at heart and are only
insisting on fair compromise, and We be-
lieve that tie decision OF the Supreme Court
will have very little effect 10 changing the
sentiments OF the people. We do not regard
the decision of the Supreme Court as vic
tory for reputation. 1t does not mean that
it is unconstitutional to pay our debts, but
the method is wrong"
Knoxville Chronicle: "We are for the set
Element OF the State debt upon such terms as
will be satisfactory to our creditors. We
admit the legality OF the debt. If our
creditors Will make such terms as will save
US from the payment of the full amount, we
will thankfully receive whatever reduction
they may make. We will support no man
for governor or for the legislature who pro-
poses to force the creditors of the State
aoLens rotens to take any specific amount"
New York Post: ain the present condition
of the money market, had the word repudi-
alton never been heard in Tennessee, the
State could undoubtedly have borrowed
money at four or five per cent. at par, and
the difference between fifty six and one hun
dred therefore fairly represents the effect
actually produced upon the credit OF the
State by the Reputation campaign. How is
it that Spectators on Wall street gain infor-
nation which enables them to make thou
sands of dollars in day by 'discounting'
unannounced decisions of the Supreme Court
of Tennesseer
Wall Street Nelcs: "There was consider
able distress among holders, many being
forced to throw over other securities to make
their margins good. A great deal OF plain
talk was used in characterizing the action OF
the State in reference to its obligations to
pay the reduced rate OF interest"