Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1883-02-17

inent. provide for such means a
may be necessary to promptly NEE
the interest as 1t accrues upon TIL
bonds SO issued, and as This cal
alone be done by the levy and col
lection of taxes, you are invoked t
act with Il clear understanding o
our situation, and with all possible
/ ecoEony.
! 1t is part of the legislative his
tory of Tennessee that for reasons
interviewer with the history of oul
country, the twenty-nine bonds o
Mrs. Polk have been since 1877
made an exception of, and 6 pc
cent on them has been paid annual
ly by the legislative votes and ap
prevails of executives of all parties
The encouragement of education
has always been the policy of tbs
people of Tennessee, and should
strengthen as we advance in prog
ress and increase in population
Over $600,000 in bonds (the exact
amount as well as the holders of the
same are easily ascertained) are held
by educational and charitable insti.
tutions of Tennessee.
Believing it encouraging to the
cause of education, and carrying
out the will of the people i'm regard
thereto, / suggest (as heretofore in
this) that such bonds be funded in
full, in interest-bearing bonds OF
same rate as those they substituted.
But to guard against imposition, a
date in the past anterior to that at
which this distinction in dealing
with the bonds was made, should be
fixed upon to ascertain the institu.
tions that shall be considered hold
this exception.
The public debt of Tennessee must
be considered from the standpoint
of governmental policy as we'll as
intrinsic justice. The policy should
be to pay in full what the people
actually owe, and to settle upon
just and equitable terms that which
is called in question by large mass
of our best citizens, and against
which equities exist.
This being proposition coming
directly from the people, expressed
so fairly and fully at the ballot box,
ought and will carry with tide
spite the ungenerous criticisms of
the heaTtless speculators and their
lobby agencies, echoed by an un-
friendly, if not Il subsidized press
force and virtue, that otherwise it
would not have; and the state cred
it which it will inspire and secure
in the future, will depend on the
prOmptness with which we meet
our obligations under it. ngt
If the term, in substance, of the
contemplated act are not accepted
by our creditors, then believing as
we do, in the cardinal doctrine of
the right of the people to instruct
their representatives, l see nothing
at present that could be done; GER
tainly not until the people elect rep
resentatives again, two years hence,
with a full knowledge Of your action
and that of the creditors in the
premises.
AS this 1905 act' has recently
beca me such prominent factor in
our debt settlement, it is proper that
/ should, in this connection, say
more about it, 1t cannot be con-
troverted that it was passed with a
badge of suspicion, of fraud and
corruption upon it, over the will of
the people, and in the face of public
meetings denouncing it and in
structing representatives to vote
against it-which in some instan-
ces, were as little regarded by the
so-called representatives, as the
pledges made by them previous to
election. An this is of recent Oc-
currence-freSh in the minds of Ten
nesseans, and too widely discussed
not to be known by holders of
our bonds, who have ever been
watchful of their interest in this re-
gard.
The intelligence and skill of the
architects of the 1908 act, does not
with their designs. 1t failed. But
the 60-3, 4, 5 and 6 acts, seems to
have been inspired by the same
spirit which defied the public will
when its foreruuner, the 1908 force
bill, was passed. 1t evidently was
designed to be a retaliatory meas
ure, having its origin in that exas-
perating want of confidence in the
people which had characterized the
proceedings of April, 1881, when its
legitimate pr0jenitor (the l00-3)
came into being. 1t should be so
dealt with as TO convince all persons
abroad who have propensity to
interfere in our affairs, that under
no circumstances will any measure
be acquiesced in, which owes its eX-
istence to a fragrant and defiant dis
regard of the public will.
AT the same time the holders of
our bonds should not be prejudiced
by the Objectionable act. They were
admonished by all methods which
a free people could employ, not to
fund under the 60-3-4-56 act. And
inasmuch as in many instances
they deliberately disregarded our
admonitions, if they be subjected
only to the Inconvenience of re-
funding, there can exist no just
grounds to complain.
He advises that no payment nor
recognition be made of the Mineral
Home" bonds, but that the $50, 900
attached by the state in 1870 be re-
funded to holders of these bonds.
Upon taxation he says:
Article 2, section %, of the con-
stitution of Tennessee reads as fol-
flows: "All property shall be taxed
according to its value, that value to
be ascertained in such a manner as
the legislature shall direct, so that
taxes shall be equal and uniform
the state. No one spe-
cies of property from which a tax
may be collected, shall be taxed
higher than any other species of
property of the same value" This
certainly is meant to apply TO all of
each kind, whether real, personal
or mixed property. To tax any one
species of property at less than its
value, is as obnoxious to the spirit
of the constitution as to tax it eX-
cessiVely. To relieve onespecies of
property by taxing it less than its
real value, places a greater burthen
on another species hence inequali-
ty and injustice.
In reference to the seal of the state,
he says:
Believing that article 3, and sec
ton 10 of the constitution of Ten
nessee does not contemplate such
power, and that it is alike of doubt
full constitutional authority as of
public policy, and dangerous pre-
cedent, suggest a positive enact
to be taken, in time of peace, be-
.ynr6 IL ~ OF.