Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-07-18
THE MEM PHIS DAILY AP-

and the interest thereon for thirty years, rs
S5,400. 600. Total for thirty years, s., 400 600.
Assuming balance of railroad debt at fifty
and-three TO be $4,000, 900, interest thereon
for thirty years, SIC, 800, 900; total to be paid
under the Democratic platform, 81 200 900,
which is S17 040, 900 less than the Hawkins
bill at sixty Observation-Disclosures, and
enough, If rightly applied, TO give every
child in the State, black and white, bust
ness education unequaled by any State in
the Union. The Observation-Disclosures bill
repudiated half the interest; the sixty
three-four-fve-and-six bill repudiated part
OF principal and interest; the fifty and-four
bill repudiated principal and interest TO
the extent of $40,000,000, yet the sdvo-
Gates OF these propositions talked loud
and long of honesty, faith and credit. The
proposition of the Democracy has more bust
ness honesty than either of the sbove-inzs-
much as 1t proposes to pay ia full much
OF the so-called debt as is admitted by all to
be honest, and to compromise that which is
disputed by paying half principal and in
terest. No convention has yet assembled
more removed from railroad and ring in9x-
ence. 1t is perhaps true that lew sspirants
labored to have their records Endorsed, yet
the great body of the delegates were of the
people, and acted for the people. II their
work is not what wanted it is the best that
is in sight, and
I STAND WITH II IN THIS BATTLE.
/ have worked six years on this State debt
question. 1t has cost me much time and
labor. 1t has been a war almost az serious
as the Confederate struggle. Slander and
abuse by men who ought to have been my
friends has been heaped upon me. Ny pur-
pose OF relief to the people from burdens
too heavy TO be borne, has to some extent
been accomplished. While / shall shrink
from no duty, it is hoped that General Bate
will be able to bear aloft the flag of Democ-
racy to victory on State Issues. To defest
Republican men and Republican policies
along the line 1 shall work with sleeplees
energy. But Senator Harris has repeatedly
said 1.-The State debt is mere bagatelle, a
mosquito bite to the wound of the cannon
ball when compared with Federal taxation
These great questions deserve TO be presented
TO the people Of the State and the nation in
the light OF true Democracy. Democracy
has been defeated because the line of battle
has been formed too near the RsFubfiv-rz
doctrine of monopoly, boHds and sisss legis-
lation. With the consent OF the good peo-
pie 1 propose to turn my attention to this
question. Let the Democracy of Tennessee
again encamp upon the true principles OF
EQUAL RIGHTS, AS DECLARED BY JEFFERSON,
JACKSON AND POLK.
If on doing this, some calling themselves
Democrats are found within the lines of the
enemy, it is their fault and not mine, and
they must repent and return to the Demo-
cratic army, which | hope may march in
triumph TO the election OF pate, Demo-
cratic LeglsI AZURE and the next president OF
the United States. There is a perpetual
conflict between business and bonds and be-
tween labor, agriculture, commerce and man
ufscturers on one side, and fixed capital, not
taxable and non-productive on the other.
The bond system of the United States is the
result of the war, mere substitute for
African slavery. The millions now invested
in bonds should be brought back into bust
ness where it will pay taxes and help the |
masses. 1 am for speedy payment, which !
can be done in few years as well as in a
century; and until this is done, or COM
menced, Democracy will never elect another |
president, nor will there be a reduction of |
taxes or economy, or purity in the admins
trations at Washington.
THERE WILL BE VERY LITTLE FUNDING UN- |
DER THE 60 1856 HAWKINS BILL.
If the bondholder funds, he releases his lien |
on the railroads, and when the railroads are |
out of this battle there will be little trouble |
afterward to arrange matters with the bond |
holders to suit the people. Let me say TO
bondholders and railroad men: When the |
people indorse fifty -and-three you had better |
accept it. There is but little difference in
this and thirty-three- and-one-third, which |
was offered in 1877.
The armies of Washington and Lafayette !
fought side by side against common enemy.
The one being monarchist and the other re-
publican. In fighting this battle in harmony
with men who have differed with me in re-
gard to parties or the manner in which the
bond question shall be disposed of, wish my
friends 10 know that stand s.ernly by my
declarations in the last six years in regard to
bonds, civil liberty, and the rights of the
people. Nothing is modified, retracted or
abandoned. My record is my platform, but
my vote shall be for a Democratic Legislature
and governor. Respectfully,