The Morristown gazette. [volume] (Morristown, Tenn.) 1867-1920, 1882-07-19


settle it until these equities were
recognized. He declared that Ala
bama, Georgia, North Carolina and
other Southern States had scaled
their debts, and yet no charge of re-
pudiation rested against them, and
their credit was good. Louisiana
had just reduced her debt to 2 per
cent, and yet she was not insulted
by being charged with reputation.
He declared that Reputation was
hurled at Tennessee to frighten or
shame them into surrendering to
the rings and lobbies and to estab-
lish Republican rule.
He said it was curious fact that
in many instances the loudest cham
pions of exaggerated State honor
were men who had taken the bank
rupt law, or compromised their own
debts, or who were notorious for not
discharging their private obligations.
He said such men should be more
modest, and that their inconsistency
brought reproach upon their causes
and belied their professions.
He said Tennessee should pay all
she could of her just debt, and the
Democratic party had declared that
every dollar about which there was
no question should be paid in full,
and that the disputed debt ought to
be settled at 5O-3. That he stood
squarely ON the platform and would
defend it on every stump as wise
and Just. He then took up the
State debt proper and explained it
fully. The following is his state
ment, taken from the reports OF
comptrollers since 1855, when the
debt was first classified:
STATE DEBT PROPER.
Arthur G.. Crozier, comptroller, in
his report (page 80 of October 20,
1855, classified the debt as follows :
"Actual indebtedness of Tennessee
and bonds loaned and indorsed, .
was then 1892, ,85666.
James G. Sattrell, comptroller, in
his report of October %, 1857, con-
tinues that classification. He also
designates them as "actual and con-
tingent." The "actual indebtedness"
was then "a, 142, ,856.66. (See report,
page 5O).
Jas. 7. Dunlap, comptroller, in
his report of October, 1859, classified
the debt as estate debt proper" and
bonds loaned and indorsed, ETC.,
(pages Al and 45), on the first Mon
day in October, 1859, was then
1884, ,6O6.66.
Mr.. Dunlap in his second report,
first Monday in October, 1861, states
saae snt Of these we're Confederate bond: 100000
State debt proper ......-... 1884, ,6O6 &C
Jos. S. Fowler, Comptroller, in
his report May 4, 1865, continues the
classification of "actual and contin-
gent" page 19):
Interest for four years .............. S53,S4s OO
S. w. Hackett, Comptroller, in
his report October, 1865, continues
the classification of Estate debt
proper" and estate bonds loaned
and indorsed." (This never enter
ed into the history of the State debt
and was not a factor in the make
up.)
ssGt to GSt 1st sf sonda
Total October, 1885. ............. $4,744, ,259 6t
Page Is.
| G. w. Blackburn, Comptroller, in
his report (p. 4 to y Oct. 1, 1867
continues the classification:
State debt proper $s,s4s,SO6
August 6, 1868, Mr.. Blackburn
submitted another report, which
says:
State debt proper. ............ es,47s,l5s
Total July, 1869. 9................... $4,5TS,l59 6
December 6, 1870, E. B. Penne
} baker, Comptroller, continuing tn,
classification, reported:
State debt proper to Jan ], 1871. :ioss seI
| Interest funded in 1856. ............. 1852
Total. si..-..........-...... ..-... s4,si6,644
The interest, S735, ,553, founded il
1865, was nearly war interest, whicI
the platform excludes. Moreover
if it were not so, no record KEEP
whereby to tell for what any al
ticular bond in 1866 was issued. /
all, under that funding act of 186t
there was funded the SIN of S4,941
900, This covered: l. The wa
interest on the State debt proper
J 2. Some State debt proper bonds
3. War interest on the contingen
, or railroad debt.
/ am advised by Comptrolle
z Gaines that there is no way by whic
it can be traced up or distinguished
| The consequence is that the wa
interest on State debt proper, an
such of the State debt proper bond
9 as were founded, caused them after
/. wards to cease to be considered
g part of the estate debt proper"
o October, 1871, Comptroller Poi