National Republican., 1883-01-05
The Democratic Repudlators OF Tennessee.

The Democratic Repudiators OF Tennessee.
Where are all the honest men who have
been bowling for three years against the Vir- I
ginia readjusters2 Where are the democrats
who were so anxious lest the Virginia coali
tion might injure the republican party9
Where are the honest republicans who have
really feared there was something wrong in
the roadjuster programme, and where are the
treachcrous and dishonest republicans
who have pretended to such fears in aid of
the disgraceful lobby swindle whereby Vir-
gnia's debt was increased by Legislative
act without considerations Are they all
dumb? Do they know that Tennessee has
Just repudiated her own readiustment and
that she now refuses to pay the sixty cents
on the dollar, to which she scaled down her
debt while lecturing Eost Virginia for refus-
ing to pay more than 665 cents on the dollar
of the debt owing by her and West Virginia
In May, 1852, the legislature of Tennessee
enacted a law to authorize the issue of "com-
promise bonds " to the amount of sixty per
cent. of her state debt, in full payment of that
debt. The bondholders had agreed to take
this compromise and give up the other 40 per
cent, and had also agreed to Iaauction of
interest for the first six years. Under this
law more than one-half the old bonds have
been surrendered and the new ones issued.
The funding of the remainder has been
stopped by renewed agitation Of the public
debt question, and o state campaign has just
ended in which old repudiators and eX-debt
payers were found TO be an immense ma
jority. The virtuous Indignation of the
democrats in the senate at Virginia repudi-
ation as they called it, when they found
Senator Malone to be free from caucus dicta-
ton, was unbounded. They were sure they
could never tolerate political Companionship
with senator entertaining his views.
They wanted Virginia TO pay her own
share of the debt Of the old state, and to pay
West Virginia's share, and then to pay as
much more as a broker lobby had induced a
bourbon legislature to vote for as q gIptuity.
Since then the Teadjusters have passed their
funding law, providing for all but West Vir-
ginas equitable one-third Of the debt of both
Virginias. But Tennessee refused to pay inter
est ON New Years day, and her creditors are
pleading with her for the GO cents on the dol
lar of principal which was agreed ON less than
year ago.
Senator IsHAM G. HARRIS will in a fow
days be reelected to the senate from this re-
pudiating state. He els the democrat for
whom all republicans entertain high respect
and the one they would generally prefer to
see here over any other of his faith from his
state. But will he be received into the sena-
torial caucus of his bourbon brethren2 Can
they endure the presence of man sent
here by state which will not even pay
the sixty cents on dollar solemnly
agreed ON last May, when they denounce a
man sent by portion of a dismemLered state
because that portion refuses to pay what two
states over This is a serious question, The
bourbon senators should caucus ON it, Let
the morals of state-debt settlements be now
ascertained. On the 26th ultimo the committee
of Tennessee bondholders met in New York
city and adopted preamble, reeiting the
settlement Of last year, and imploring the
! legislature Of that state, which is SO soon 10