Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1883-01-25

appointed to prepare proper bill, embody- |
ing the foregoing views, for passage by the |
Legislature into Law.
WHO Is BOUND?
Mr.. r Dudley Fray.er wanted to know |
who was TO be bound for the pay ment Of the |
debt, the State of Tennessee or the people OF |
Memphis.
Mr.. Peters said that he had cast his for |
tune with the people of Memphis. 1t was
necessary to speak of the condition OF Mem |
phis. The boom was all myth. He said
that ii was impossible for the people to meet
the requirements of the compromise sug-
gested by the report of the committee. I'M
der the resolutions offered the debt could be
readily met. The first year, instead of the
people having to pay $50, 900, they would
only have 10 pay $4,000. The most abso
lutte security was given the creditsr.f Fit seemed
to him, BY these resolutions. The people
say that in good faith they will ask the Leg
islature TO levy the taxes. In answer to Col.
Frayser, he had the opinion OF several able
lawyers that it wss simply matter oil form
as to who should issue the bonds. The peo-
pie wanted 10 put stop TO the in,erminable
litigation and TO meet the creditor on fair
grounds. This was no clever subterfuge to
put the creditor of, but was offered in good
faith.
JUDGE KLLETT's SPEECH
Loud calls were then made for Judge
Elicit, who was assisted to the platform.
Judge Elicit spoke in substance as follows:
In the meeting OF the citizens held some time
ago al the courthouse, a proposition such as
that made by Mr.. Peters would have been
very opportune, but that point has now
passed. We took long time about making
our report. We came 10 a conclusion after
several months of discussion. We offered
to the creditors terms probably even more
favorable than those proposed by Mr.. Peters.
We offered bonds to be Issued by commit
tee, but the creditors refused to take bond
issued by individuals. Now, as far as / am
! concerned, l would as soon have bond is-
| sued by a com mission az by the Taxing
District government. Mr.. Meriwether wants
to know what propositions have been made
| by the creditors. None whatever. We
|. could not get them to make a proposition.
The most favorable reply we ever got from
| them was that they would in all Likelihood
agree to the terms of the Flippin compro-
mise, provided of course that the Taxing
District lie made liable. Ny friend Msj
Meriwether WAKES very indignant over the
coupon feature. He declares that it is un-
constitutional. He has great horror of
In andamuses, and is willing to shoulder a
musket, take his stand in front OF his
property and keep off any officer who shall
| dare levy upon him. What lie he doing every
day but enforcing mandamus taxes against
the people of this city? III this debt was
conceived in sin and prolonged in iniquity,
why does he not throw up his Office? Ii
seems TO me that this is the logical deduction.
Now, in the Supreme Court of the State it
has been decided that the Taxing District is
liable.
A Voice-Why don't they collect il?
81 will tell you. We have not yet come
to that point. We are fighting the matter
stir in the courts. The Taxing District is
the legal successor of the old city and liable
for the debts of Memphis. The question be-
| fore the Supreme Court is, shall the obliga-
| ton against the old city, that the Flippin
| compromise coupons are receivable for taxes
be also declared an obligation against the
| Taxing District? Now, mark you, every
| decision so far made has been against the
new government. l hope that decision
will be made in our favor; but if it is agsinst
us, what is TO become of our boosted govern
ment? DON'T you see that it will all
60 to pieces? Will it not be neces-
ssry to levy taxes 10 pay all the old
debts of the city? If the city of Memphis
had the power of taxation, and the Taxing
| District is the legal successor of the old city
| and liable for all its debts, there will be 8
serious point for the decision of the court
| in the question-Does not the District have
| the taxing power also? There il one objec'
ton urged by Mr.. Peters, Mr.. Meriwethel
and others to the effect that the coupon lea
ture is Unconstitutional Why oppose it
then, If the bonds are null and void? ] dom
understand it that the Supreme Court has
decided that the coupon feature is unconstl.
| tuiional, because the question has never been
up before the court. II the Legislature car
create municipalities giving or~i,hholdins
the taxing power, it can certainly enoow {
government with the power of issuing bonds
4 whose coupons shall be receivable for taxes
Mai. Meriwether contends that it canno
| be done, yet the Legislature endows hin
\ with powers similar TO it. Is he not re
| ceiving Nicolson pavement scrip, judg
ments, etc, in pay ment OF the taxes he col
lects? Now, the question was submitted 10
Judge Clapp and myself as the only lawyer
on the committee, and we both came to tn,
conclusion that there was a difference be
tween the coupon clause in the one
hundred-and-thre bill and this. w,
may be wrong, but we fully agreed OF
this point. Msi. Meriwether entered into
long history of the bonds. He told how on,
gentleman had secured part of the bonds
| and how another had done so. He said tina
great many of the bonds were bought be
low par, and some were fraudulent. Thes
| questions concern US not, and as lawyer
Maj. Meriweiher knows they would play nj
part in the decision at all. 1t is the question
of the hour. 1t presses for settlement, an,
for one l want 10 see il settled. 1t is SAT-
the Les islature can turn US back into thu
body of the county. Are you willing to g
back to the Legislature and state that yol
want to surrender your government and be
some part of the county, in order to repudi
ate the debt? / fancy that no Legislature
will do it,"
Mai. Meriwether said: 81 wish briefly {,
offer some objections. The distinction, say
Judge Elicit, between the coupon feature o
the one-hundred- and-three and the coupon
feature in this case, is very plain one.
think he fails to establish HIS distinction
He asks why the Legislature can authorize
me to collect the old city debts and TAX
scrip in payment. am simply administer
ing a dead mans estate. Ii l were collect
ing taxes to run cur government they Ger
tainly ought 10 be money. He wants I,
know why / dent throw up my Office.
will tell him. II 1 don't collect these take;
somebody else will"
The question was then called for.
The first vote taken was upon the adoption
of The resolutions offered by Mr.. Peters.
Mr.. Goodwin and Maj. Cooper were ap
pointed to count the vote. Mr.. Peters
resolutions were adopted by a vote OF 15'
to rs.