Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1885-11-28
BROWNS BONDS
Fully Satisfy Him-The SANDER Of the
Northern Press Refuted-What
He Thinks Of
The Future Of acknowledgement In
dcrsement Of President Haddea-
Words Full Of Meaning.

Mr.. I. Z. Brown, who has Just COM
pleted the transfer of s350,00O of old city |
of Memphis Indebtedness to the Taxing
District for $2S5, 600 of its W 8 per |
cents is still quartered at the Peabody |
Hotel, n will remain here several days.
He was visited at his room last evening by
a representative of the APPEAL, who found
him in excellent humor, the picture Of
health, and having none of the manner of
a mar who believed he had been deprived
of his just rights or swindled of his hire.
Mr.. Brown is in the prime of an active
and useful life, and has the air about him
of a man who is ready for and
fully equal to still greater things.
Probably no one of the creditors of the
extinct municipality is better known per-
sonally in Memphis than he is, and GER
ton. He differed from other large credit
ors in the fact that a large part of the debt
to him was of a personal nature, con-
tracted for work done by him, the work of
laying Nico,son pavements.
Mr.. Brown expressed himself az glad to
see a representative of the APPEAL, re-
marking that he had known the
editors of the paper for eighteen or
twenty years, and made his acknowl-
edgments for the uniform politeness
and courtesy with which they had treated
him. Anything that has seemed a de-
parture from that in the APPEAL" added
Mr.. Brown, twas intended iokosely, and
not seriously, 1 know, and as much might
be said of the other papers of Memphis"
When asked what he thought of the dis
cussion in the New York papers regarding
the question of the settlement of the Mem
phis debt, Mr.. Brown said:
81 will have to answer that question as
the lawyers do-the question comes too
late. The debt has been settled to the sat
istaction of the creditors and the city, n
it seems unwise for the say or do anything
to unsettle it."
"Then you are perfectly satisfied with
the settlement you have made with the
city,"
acknowledgement l cay so without
the least hesitation and the greatest earn
estness."
Going on to speak of the debt Mr..
Brown said: "The case was an anomalous
one. No other city has had the misfor-
tunes of Memphis. The creditors, it is
true, thought at one time that even
these misfortunes did not justify
what has been done. But the
issues have been made up. Both sides
have had a hearing in the courts. The
courts have decided that the Legislature
did not intend that the new government
should not be boand for the debts of the
old, and that even such intention would
not have AIKEN away the right of the cred
itor. l presume it has never been a seri-
GUS question of law, but rather a question
of policy, whether a bonded debt of
S3,000,000 agsinst the new government
was not worth more tothe creditors than q
mnch larger amount in the shape it was in.
AS We have said, this case has been heard
and the interested parties have no wish
to retry it. But there is a practical ques
ton growing out of it, and that ia whether
the pro~perty-owners and solid men If
Memphis appreciate how much has been
done for the prosperity and future of the
city in the settlement of this debt, and
will see to it that the men who have been
intrusted with go great an undertaking
and have discharged this trust with such
fidelity, remain in their present places. 1t
is putting it very mildly to add that the
present administration nave lone more
and better than well that Memphis is now
on a boom such as she has never before
had that interests of magnitude are daily
arising that will materially and perma-
nently affect it, and that the present is a
bad time to make any change in the ad-
ministration of your government"
You are not an anti-Hadden man,
then ?"
"There should not be an anti-Hadden
man in the city of Memphis. 1 am not a
resident of the city, but l want him put
back in the Office he now holds, and l
don't mind saying that l have a selfish
reason for saying 60. Naturally, 1 desire
that the interest on the new bonds / hold
should be regularly paid. Should he re-
tain his position, in company with the
gentlemen who now share its labors with
him, l would feel perfectly secure. 1t
that when the interest is regular
ly paid, the value of the bonds
will steadily increase. At the present rate
at which Memphis is progressing, its af-
fairs wisely administered will advance the
value of the bonds to par. At present the
government is being conducted on the
wisest and most economical basis, and, as
1 said before, If Mr.. Hadden will agree to
continuein office not a voicei in Memphis but
should be raised in Endorsement of him. Ex-
cept for him." MIR. Brown continued, l
would never have come here, but his last let
ter was so earnest, manly and straightfor-
ward that l concluded to run down,
whether I accomplished anything or
not. When 1 met him and gave him
my ultimatum, he replied, in the sim
plest way that he would tell the board
what l said, and in all the interviews l
have had with him during my visit he
has never for a moment lost his equilib-
rum. HIS self control, his easy, genial,
but nevertheless determined way of doing
things has impressed me a good deal. 1t
is an invaluable gift, and / wish
l possessed it. There are times
when / will lose my temper and
fly off at a tangent, but Hadden never.
1t is just such a cool, clear-headed
man as Memphis needs now that she has
started Upon the high road to prosperity
and has rid herself Of one great burden TO
take on a smaller, but still heavy one. No
sir, you can put me down as saying that
instead of opposition, the man who has