Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1882-03-22
The Ground swell That Has
Set In.


The Ground swell That Has
Set In.
There is very conservative,
thoughtful element in the State credit
or high tax wing of the Democratic
party which looks sincerely to per-
manent settlement Of the debt. These
men voted for Judge Jno. v. Wright
as the nominee Of the party, depend
ing upon the pledges made by him and
other leaders and upon the literal con-
struction of the platform. They ac-
cepted as gospel the plank which gave
assurance that the bondholders were
ready to make liberal concessions;
that the best terms possible would be
obtained by negotiation, aud that cou-
pons we're not to be made receivable
for taxes. The same men were quite
dumbfounded when the 1908 act
passed and was approved by prominent
leaders and papers. Being told
that this settled the question for
ninety nine years and that they
could not help themselves, it was nat
ural that a good many made up their
minds 10 accept the situation and try
to make the best of it. The party lash
was applied SO vigorously that the
timid were silenced, and it was almost
treason to protest. When the suit
was brought against the 1908, the
Judge who granted the injunction was
held up to ridicule and scorn, and the
whole question was prejudged and
decided by partizans who de-
Tended the act and the methods
by which it was passed. In the face of
such an extraordinary pressure
brought to bear on the Supreme Court
through papers and other channels Of
public expression, the decision de-
claring this act unconstitutional was a
profound surprise to all except those
who looked at it from strictly legal
standpoint. The people breathed
easier, and a sense Of great gratifca
tion was manifested all over the State.
None entered into this feeling more
heartily than that class of Democrats
who voted for Judge Wright, and who
had been led to acquiesce tacitly in
the 1908 act, believing it to be irrevo.
cable and beyond the reach Of Courts
Legislatures or people. Many of this
class voted for 30 4, and would be sat.
ished now to see a settlement
made at 5O-3, A great victory
has been gained for the peopl,
at large, irrespective of party or fac
tions. But to secure the fruits of tha
victory the people must be on th,
alert and see to it that no little cliqu,
and no extreme fag end OF party get
control of the next convention or tht
Legislature. The greatest good t
the greatest number must be KEEP
steadily in view. There must b,
hearty cooperation upon general lin,
and a fair infusion Of discretion anC
common sense management. A nakeC
question of law has been decided il
favor of the people, and they are
greatly encouraged and disposed tt
come together. No settlement thai
can be made will stand unless ap.
proved by the people. If a given
basis is named in the platform, and
it carries at the November election
that is direct submission, and DO other
need be required. NO vague, two sided
platform, intended to deceive and to
catch votes, need be adopted. 1t will
net take this year. 4 progressive,
liberal, but positive policy is required,
and upon that we will win, and the
State debt will be settled upon sound
business principles, and that, too,
in accordance with the rights
Of both people and bondholders and
the recogonized commercial ideas Of
the age. This is worth struggling for,
"a consummation devoutly to be
wished,