Blount County democrat. [volume] (Maryville, Tenn.) 1879-1883, 1882-08-12
NO. T..

| most certain tllat lncy VIII ilot. ihSlF
they propose to pay from 81 900, ,OOO TO
$6 900 900 in full, repudiating the war,
interest, and propose to the cEctitnrs to-
nav the balance at 50-3. / understand
the. war interest OH all the bonds of the
State was funded in 1866, under ltadi-s
cal rule, and the new bonds Issued failed
Ito show or discriminate between the'
Ediflercnt bonds, and that no one can tell
the bonds issued f0rintcrcst on the Capt.
/ tQl bonds from any, other bonds. If
this is so how can tGGSrGpudiate those
bonds issued in settlement of the war III
terest on the old debt proper; and it is
probable that the parties who hold the
debt proper hold any of the war interest
bonds? And, if am mistaken in this,'
if they can be designated, WIN mot the
parties holding them fund them at COB
lac act of the last General Assembly,
| before the next Legislature meets, andsa
viii not the holders of the bonds that
would come under the 1913 clause IN
kplatform also fund their bonds under
And then We will have this stqte Of,
things, tie debt funded ut W and lON
Ecents, and the new bonds, thus issueCh
will amount to $40, 900, 900. This would.
be victory gained by the party calling
themselves the LOw-taX partys having.
defeated 4 settlement of the debtat 5OI,-
which would have left it ir the aggrc-'
gate about $l2 ,000,G 600, instead of the,
probability Of fastening it upon the tax
payers at about $40, ,000, 900. ..f
The funding of the debt l;nder the
kprcscnt act of.thc UcgiSbaturg would re-.
Fducc the debt to about $4,000, coz
They now propose to prevent, If po:sl-l
ble, the funding under this act, and no.
sane man believes the creditors! Of the
State will ever fund under tlfci@ PrOpos
sition. 1t amounts to leaving the qpesJ
ton open for discussion for years, with
the debt growing at the rate of $i,0OU.
per day-just what they want to ac-.
lcomplSh in my Judgment. Savagc,t
their lcWler. fGys that the creditors ha'sI
better aGcert tic 5g-y, n'rauirG mo doubt
il they do ncg they will gr! nCthing1
hence the policy to commit as many OF,
the State-credit Democrats to rcpudia-
ton As possible, by getting them 10 sup
port this platform that carries repldia-s
ton on its face, hoping thereby tn hold.
them in time to come. kafor. opc can
not conSistenuy.Eote against repudtl-
ton in. all time.t0 come.
And WY should We pay these OH
bonds at face value AMI others iat half
and one-fCrftf irt5re.tI They were
all issued under one act of the LcgiSlat-
uIc and carry the great seal of the State.
all have been sold in the market; all are
OF equal value and are now offered g'at'
6O-3-4-5-6; and All parties, lsave' asreei-
to pay them all, time and again, pledg-,'
ing tho, hJncr and credit of the State for.
stheir payment, drawing no une OF dis
ttinstiOn betWcen. them. .., ! -. <. Il
Now, | cOntctd we h&ve cGilitie1, 9nc
so our creditors agree, and say they
concele 10 cents on on the 81, and vol
UNFAIRLY offered in 1877 to fund ut that
figure. 1t does seem TO me that 1T.
would have been wise for the convention,
to have said nothing about the State,
debt, nominated a Governor and left the
question of thC debt to the next Legis-,
lat,me We have fought over this quea-,
ton until it has grown from $50, 900, ,OW;
in 1873 to near $30. coo, 900 in 1892, ana"
while our debt has been growing our.
taxable wealth has been. I9ininishing,
In 1876 it was more than l. was in 1860;
since 1870 it has dirinlslfed near One-'
half 60 1881. aGt.,Ste will continue ts)
grov poorer every year until we settle
this dcDt. The action Of this Iow-ta--.
part, as they falsely call themselves,
has already cost us $5,O0O,OOO in the
difference of the two settlements. L
trust we can elect the gallant Fusscll,
who stands upon II true Democratic
platform. lam yU'r friend, .. go,
n. BRANDON,
Dover ,'Teiu. July 2G, 1882.