Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1882-05-27
SHALL 1T BE SUSTAINED

to accept the offer made by our
creditors for settlement of the
State debt, and bill to carry that
agreement into effect, now the law
only remains to be executed by the
State officials. Shall this agreement
he carried out, or shall we under
take to repeal it? in other words,
shall readjusting movement, al
ready begun, have the sanction Of
the people by their votes at the bal
lOt-boX.
For many years the question OF
the settlement of this debt has been
the all-absorbing question in our
local politics. The payment of in
terest upon it had been suspended,
when i'm 1870 the Democracy came
into power by the Acknowledgement
of the body of the people. We were
then amidst the throes of pOliti-
cal revolution and the subject did
not receive the attention its impor-
lance demanded. Our treasury was
empty; the State was, or consid-
cred itself, poor, and mems minds
were engaged in considering how
they might best secure the political
rights gained by the overthrow of
the Republican Oligarchy, which
for five years had borne undisputed
sway. Still the honest Democracy,
which included the great body of
Taxpayers, the working men in
every profession and of every occu-
patton, resolved that the debt
should be paid; and to this resOlu-
ton the Republicans gave their cor
dial assent. For a while interest was
paid on the debt, but the financial
storm of 1873, whose disastrous viO-
lence was felt among us before it
broke over the whole country, caus-
ell a suspension of payment. We
say suspension, for the reason that
no man, at that time, of any party or
of any color, contemplated repudia-
ton of the debt. All were agreed
that at the earliest practicable mo-
ment, whenever in fact, it should
become possible to do so, payments
of interest should be resumed. I'm
fortunately for US this suspension,
and the disOrdcred condition of in
dustries of every kind, suggested to |
demagOgueS, whom the people had
neglected in the selection of officers,
that their merits would be appreci-
ated and they might come into
place, by appealing TO sorGlid and
selfish passions, or by hOodwink-
ing honest men and convincing |
them the claims of our creditors |
had no real foundation. The task
seemed difficult one, but they I'M
dertoOk it. After years of agitation
they succeeded in dividing the Dem
Ocrats and giving the State away |
to the Republicans. 1t is unneces-
Sary to recount the methods by
which it was done. 1t was done,
and majority of fifty thousand was,
by divisions and dissensiOns, by
disregard and contempt for the
honor and the plighted faith and
credit of the State, brought to less
than nothing. Fortunately, how
ever, the ruin of the Democratic
party did not bring ruin to the
State itself. The Republicans stood
by the cause Of State credit, wheth-
err from patriotic or partizan mo-
tiveS need not be discussed. The
action of the party was in the right
direction. More than 1900 Demo-
Gratis recorded their will TO stand
for State honor and dOsimple justice
to the States creditors, in a joint
of more than l25, 900 of the
people of all parties, of all occupa-
tons, and Of every color. One
would suppose that this great up
rising would have been accepted as
final, that peace and quiet would
be restored, and the defeated Dem
Ocracy suffered to reform its col
umns, align itself with the DemOc-
racy of other States, aud declare
that the "P,t6Hc credit, State and
National should be maintained"
But this was not to be. The war
against their party and the State
was continued; it has been kept up
10 this day. 1t will be carried on
in the future. The leaders of that
faction are desperate men, and in
end TO triumph or bring ruin to
heir late political opponents.
Many, we believe most, of their
OllOwers will abandon them. They
legin to see the dire calamities to
-esult from the pernicious teachings
md disOrganizing methods of their
and were ready to join the
State credit Democrats in conven-
ion. Indeed, so clamOrOus were
hey for harmony; so earnestly
we're they resolved to abandon the
policies which they had
'een led to support, that the first (
all for reconciliation came from
hem, and the convention of the
9th of June was agreed upon.
But in the meantime, the credit
rs and the Legislature had been I
for Il settlement of the f;
lebt. Terms were proposed by
ne creditors; modified by the re- {
.uest of the Legislature, and finally
greed upon by the latter. The $
Whole subject is before us to-day,
nd i'm advance of the meeting of 5
he convention, in Il different shape.
Me conditions are changed. Whilst
lac Democrats outside the Legisla- 5
urc have been consulting, the {
aw making power of the State has I
ettled the matter. Democrats and \
alike voted for the
MEASURE in the Legislature. The I
ettlement is in accord with the [
of the last Democratic /
tate convention, and carried into 4