Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1882-04-15
rae Cr,t,cn, Tfn,e.

EDITOR CHRONICLE 81 write
this paper not at my own sugges-
ton but at the request of an intelli-
gent aud thoughtful business man.
Right now is the time for the
people to make their move in the
State debt matter. If the move is
made at once and in the right di-
rection, the State debt will be
quickly, honorably and forever set
tied. Let the people call for rec
LITIGATION of the amount of the
principal on equitable grounds.
The size of the principal - reduced
on principles of equity, would as
tonish the people; they would see
that they could easily carry it and
extinguish it. This principal must
never be refunded. Refunding
keeps the debt and keeps the people
paying interest on it. The refusal
to refund is a legitimate business
Transactions under the laws of the
State. 1t is likewise as legitimate
for a creditor to refuse to let his
debtor refund or renew his note.
Every man knows that when his
bond or note is due and unpaid, his
creditor can refuse TO give him more
time and can go right on and COL
Iect his money. On the other hand,
should the creditor wish the debt
to remain and the debtor pay annu-
al interest on it, every body knows
the debtor can refuse that arrange
ment and force him to close out the
thing and be done with it. Were
not this the case, multitudes of men
once in debt would never get out,
but would live and die laboring to
make another mans money profita-
BILE to him. So it is with peoples as
well as with individuals. Hence
refunding is the all important point
on both sides.
To preclude the possibility of this
refunding, let the people call at
once for s convention to amend the
State Constitutional amend it in
the way the people of Texas have
amended Understanding it uncon-
stltutionai for the State, county, city
or town to issue bonds in the future.
Let them declare that they do not
propose to make up the war losses
of anybody, bondhOlders or other
wise, until their own losses of the
same kind are made up to them.
That they became SO Impoverished
! by the accidents of war that they
had TO go into bankruptcy. and they
see no reason why others, bond
holders or otherwise, should not
likewise suffer FROM the same acct
dents. That the railroad debt,
which is the big debt, is for money
borrowed and put into roads which
roads were turned over to the bond
holders to amply and satisfactorily
| secure them. That the b0ndhOld-
ers are now claiming and suing for
| those same roads as theirs. That
when the suit is decided and not
before, they will pay over TO whom
soever it may belong, every dollar
the State saved out of those roads
after the war wreck. And SO of
every other debt justly owed now.
The General Government shakes
herself loose from paying such in
dividual war losses, why should the
States assume it? Or if they pay
one why not all?
But when people thus assume all
their just Indebtedness they should
Immediately commit themselves to
the payment of them. If they are
in earnest and mean business, let it
be business sure enough.
Bonded debts drawing interest
are public evil. They never fail
if long continued to fatten the few
and impoverish the many. They
are the father of reputation, driv-
ing the people desperate at the an
nual loss of the neat profits of their
labor.
The overturning of the so-called
1908 settlement has reduced every
thing to chaos again. The same
trickster5 and rings, backed by
their papers, are now busy at their
same old work. If the people lay
stupid and quiet, as they are expect
ed to do, they will soon be cornered
up and saddled again with some
thing similar to the 1908 settlement.
If they will meet in their District or
voting precinct and say plainly
what they will do and what they
will not, they may save themselves
from being victimized again. They
have their clearly defined rights, let
them stand on them. If they for
felt these rights by their own mae
ton, they should not complain at
being sold out again.
They should not empower any
representation, delegate or commits
sioner to act for them until he is in
structed what he must do and what
he must not do in this particular.
The sum of the whole matter is
this-the present is a crisis and the
veal or woe of this people depends
upon their action in this crisis.
j. Z. RICHARDSON.
April s, 1882.
Mrs. Emily f. Bristow, of Elk
ton, Ky, the aged mother of eX-