Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1883-01-03
THE RoNDhOLDERs.
MEETING IN NEW YORK.

Special to the Appeal
NASHVILLE, January 2.-The bondholders
in New York held meeting December %,
1882, and addressed the following PROPOSE
zion TO the General Assembly of Tennessee,
after long and insinuative preamble re-
Hectng on the honor and integrity OF Ten
nessee:
ResoIred, That this committee respectfully
but earneztly request the Legislature Of Ten
nessee tn extenS the time for funding the
bonded oblgationS OF the State into her
compromise bonds, Tor two years from anu
ary ], 1888; that they earnestly urge and
recommend the Legislature not only 10 grant
this extension, but to seize the opportunity
TO satisfy, coufirm and complete this most
favorable compromise for Tennessee, re-
garded in all respects, that will be found
practicable, and take out OF the do
main of politics question that has
already enaepdered in its discussion feel
ings which every good citizen must depre-
cate; a question, loo, which has impeded
the progress of the Stale, retarded the
prosperity of the people, and must neess-
sarily continue to distract the common
wealth il not now finally disposed az here
toiore agreed apon.
Resolped, That eoSapropise at a lower
hgnre is moi justified by the ci5c4metances
OF the people OF Tennessee, hence shouid
never be proposed On their behalf, aud should
not be, and we are satisfied will not be, con-
sidered by her creditors if proposed.
Resolved, That the chairman forward :
cepy of these resolutions to the governor OF
Tennessee, and to the speaker OF both houses.
EUGENE KELLY. President.
- ROBINSON, Secretary.
In the State Senate a resolution was
offered that it is the sense Of the Senate thai
! tke comptroller pay no further interest on
funded bonds. IT was discussed, but no
fnal action taken.
EFFECT OF PoLK's ANNOUNCEMENT.
NEw YORK, December 31-A Washing
ton dispatch to the Tribune states that Sem
ator, Jackson, Of Tennessee, who was The
leader of the Stale.credit Democrats in The
last campaign, expresses great ssiouishment
at the announcement from Nashville that
| State Treasurer Polk will Fefpse to pay the
January interest on the new funded bonds. in
deierence 10 "tbe will of The people" as
shown by the election of the rep1dislion
ticket, in November. He said: al cannot
understand it. The funding act OF May 20,
1882, made the funding date from January
j, 1887, and made the interest payable every
six months. Interest was paid on July let,
and the money is now in the treasury to pay
! the january interest. Mr.. Polk is a sworn
officer OF the State, acting under law which
has not been repesled and cannot be re-
pealed-s matter Of conuact-snd be pro.
| poses 10 take it into his hands 10 say that
The Law shall not be enforced. BE proposes,
even in advance Of legislation, 10 SOP action
under a valid law. Fnat is monstrous
position. He has no more rIght to refuse to
pay the interest than he woaid haye 10 fund
The debt"
In view Of Mr.. Polk's announcement il ia
interesting TO recall the fact that the funding
act Of lsst May contains these words: md
for the puuctual payment Of the principal
and interest OF said bonds the faith, credit
pledged" Mr.. Polk is nephew Of President