Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1883-03-11
THE CITY DEBT
Must be Settled on the Terms Agreed
Upon by the Citizens and the
Citizens Committee.
The People Want the Question Finally
Disposed of-Se Thinks One OF the
Best Friends OF Memphis.
To the Editors OF the Appeal

To the Editors Of the Appeal;
/ hoped il would not be necessary 70 say |
another word through the press in regard TO |
the settlement of the old city debt, after the
report Of the committee, but as Maj. Meri-
wsther, one of my old comr AIDES in the tight,
continues to peg away, and does not seem
disposed 10 let the war b. over under any
circumstances, / am convinced that he, like
every other citizen of Memphis, wishes to do
what 10 wisest and best in this matter. There
fore, a few words in regard TO the present
attitude OF affairs will, l trust, not be out of
place at this time. The committees report
from the creditors is not what we hoped
and desired it would be, but it is the bes, they
could get. When a gentleman sgreed in
writing 10 settle, and declined 10 state the
amount and kind of Indebtedness held by
him, the committee could not take
the man BY the throat and force
him 10 tell whatever his reasons for not
giving the information was, is not sufficient
cause for US to decline 20 act 10 matter OF
such vital importance as this is TO the well
fare of the community. Ninety people,
holders of iudebtedne-s of the old city, bsve
agreed in writing with the committee 10
accept the terms of compromise offered by
| the citizens and fund the amount they hold
| under the provisions of n bill already very
| carefully prepared by y select committee of
| our best and most learned men in the law.
| This bill having IN submitted 10 these
| ninety creditors at the time Of their sccept-
snce, with the positive assurance OF the COM
| nittee that il would be enacted into a law
= Ia a
to adopt Maj. Meriwether's ideas and m axe
such change in the bill as would release the
ninety creditors now pledged to accept its
present provisions? We think no., when il
is well known that many very large holders
are included in these ninety names, that
| il includes all having advanced suits in the
courts, snd We believe every home creditor,
| with perhaps q few unimportant exceptions
favor the plan, think IL far and just, quite
as Liuch as the people are able TO pay under
existing circumstance, and will do all in
their power to induce every creditor to &C.
| cept. The members of he committee selected
to visit distant creditors, while having failed
TO give US the precise amount pledged, the
| return to us en- husisstic as TO the certainty
| of the settlement being a success il the bill
is passed by the Legislature 81 bsl antially il
its present form. Unl. IS these gentlemen sr,
attempting to perpetrate a fl aud 90 the com
munity Of which they are bonored members
we must believe there is some thing in ihei
statement SIS 10 the kindaess with which they
| were received, the expression OF sstisfaction q
the terms of compromise offered, and the ex
pressed wish by th- great number of credit
ore that it would result in the full and tina
settlement Of the debt, and that the cit,
would march on steadily in her course o
prosperity 10 greatness. Ii these statement
OF the committee are truthful, s1d 20 on
that knows them will doubt it, does the cJn
ditions Justify the representatives iron
Shelby in pushing the bill through the Leg
islsture. We say emphatically and I'm
, equivocally, in our judgment they do
1t is true the letter of the citizens resolu
tions has not been complied with, but tn
spirit has, and that is wha, the people want
besides the lawyers who have fought thu
creditors in most of the city's cases tell u
that dissenting creditors will have no right
: under the new bill that they have not nov
, | tate to settle all we can, and if come greed,
!, or obstinate fellows stand out, fight them L
the bitter end. A compromise is muiua
concession, if either party got all ihey
wished it could not be called 4 com
promise, therefore, in the very nsiur,
OF things we must give and take L
effect an agreement on a question of eilhel
large or small import. regret that L csnno
agree with my brother Meriwether, as W,
are on the same side Of this great question
and we could make many changes in tn,
settlement that / would personally prefer
bat If we should sickle for them, or th,
community with Us, it would defe at the very
object we are working to accomplish
namely, to effect the best settlement we car
for those who have TO pay the debt. Their,
is no question about the citizens wanting tC
close up this business and get it out of thu
way. We are pledged 10 an adjustment o
this debt in every conceivable way; every
newspaper in tue city has said we woulC
make a fair settlement at the proper time
every public man, every private man, every
woman that has spoken, even the washwoueI
and bootblacks favor it. Why? Because i
ia right to settle debts, and high.struDg
spirited people will be satisfied with nothing
| lees han this. J. r. GOODWIN.
MEMPHIS, March 10, 1888.