Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1882-03-10

we are IN default, aud our default il
put sometimes upon one ground anc
sometimes upon another, but til.
most plausible is our inability. Blu
We are able to pay something. Let
the Democratic party come together
and agree upon some amount. Wher
this shall be done and the Legislator,
takes it up and proposes BY a bill tbil
amount, the bill ought to be SO drawn
as that it will not be offensive, for al
last when the bill shall be passed il
will only be a proposition. The cred
itors may take it or not, as they
choose. This course would certainly
be justifable if upon a fair trial no
common ground could first be reached
between the State and the creditor.
Now, why will not all Democrats
unite in this effort? What is the OBJ
lection to it? What can be done that
is better?
The debt must be settled and taken
out of politics, and who will not sur
render arbitrary views to accomplish
this2
To give the State to the Republi-
cans, by making two Democratic fac
tions, would by no means settle the
question. 1t might enable them to
make a constitution with a coupon
feature, and this is what they mean
by declaring for a convention; or it
might enable them to enact c~ontractual
legislation so as to give the Federal
courts jurisdiction; but, we ask, is
this the work which our friends pro-
pose?
ANY settlement made in any such
way would be a calamity, because it
would be the beginning of endless
strife among our own people.
Suppose our extreme State credit
friends stand out, an suppose our
extreme low tax friends stand out
with anything like re- pectable mum
bers, the inevitable result is the sue
cess of the Republican party ia the
State.
1t will not do tosay because we have
heretofore failed in our efforts we can
not come together and settle the debt.
Time, reflection and moderation by
those who write or speak, will tell,
and recently events have transpired
which manifestly have had a tendency
to soften the asperities Of the two
wings OF the party. We admit that
should n wing Of the Democratic
party stand out stubborniy and say we
will pay nothing but the capital bonds.
in other words refuse to settle or
compromise the whole debt upon some
reasonable figures, then, as a matter
Of course, there can be no compromise
any more than if the entire State
credit wing stood out and demanded
payment of the whole; but the point
we made is to have both points yielded
and agree upon what is fair and Just.
aud proceed to levy the taxes to pay it.
1t will not do to say because we
failed heretofore we must fail again in
any effort now made. Mems minds
change. In all men there is more or
less Of inherent justice and right, and
in all men there is more or less pss
sion or prejudice. Remove these, as
they have in a great measure been
removed from the minds of the people,
and justice and right take their places.
There is manifestly a much better
feeling among men lately so wide
apart, and surely our extreme State
credit friends can afford to see the
effort made unless they have some
thing else in view, and if they have
candor requires that they should
avow it. There cannot be a
doubt, but, that with a State credit
organization, as contra distinguished
from the Democratic party, the Re.
publicans will carry the State, and
then whether that party would settle
the debt, and at what figures, would
depend alone on the question whether
it would help the party. We do the
Republican party no injustice in say.
ing this, because the action of the
party towards Virginia is conclusive
proof.
But we are going to demand Of our
friends to know whether, by their OPP
position to harmony in the Democratic
party, they mean to aid the Republi-
can party.
| fthis is meant, then the record of
the Republican party in Tennessee
requires to BIZ examined.
The Republican party at present is
made up mostly Of the newly made
voters, and it is not the interest of
Tennessee that they shall determine
the question between the State and its
creditors.