The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-11-28
mo NOTHING"
The Mass Meeting Says No Bonds.
A Surprisingly Unanimous Vote on
tho Proposition.
Tho Resolutions Do SGT Forth the
Great Need for Improvement.
Referred to O. Committee for Re-
port Within Fifteen Days.
Brief but Red Hot Speeches by II Num-
Der Of Gentlemen. Mostly on the
Winning Side-Win There
DO Bolt?

Al tho Merchants Exchange yesterday
afternoon n called mass meeting OF citizens
was hold for the purpose Of considering
and discussing the pressing need OF appro-
PIRATE legislation for the improvement OF
the city, and the measures necessary for
the development OF its resources, or, in
other words, the necessity OF paving the
streets and how to raise funds 10 pay for
the same.
The meeting was largely attended by
capitalists, bankers, real estate owners,
merchants, business men generally, a
sprinkle OF politicians, men about town
having little to do, lawyers, and there was
an almost total absence Of mechanics, la.
boring men, clerks, small property-owners,
and the colored man was also conspicu-
ously absent.
Before tho meeting opened Tor half an
hour or more the hum OF conversation
grew louder and louder, and above the din
the word bonds, bonds, bonds, could be
plainly heard.
At tn appointed hour Capt ]. II. Mar
tin, president OF the Merchants Exchange,
called the meeting 10 order and stated its
object, the first thing to do being TO select
q permanent chairman.
On motion Of Judge J. NJ. Greer Mr.
Robert S. Galloway was selected rs perma-
ncnt chairman, and at the suggestion Of
Capt. Martin tho members OF the press
were requested to act as secretaries.
Chairman Galloway thanked the meet
ing for the honor conferred upon him,
stated the objects Of the meeting and an
nouncel the meeting ready for business.
Mr.. j. $. Mcnkcn arose aud said that
he had something to say, and had reduced
his remarks TO writing rather than to
memory. lie had also some resolutions
TO offer. VI Menkon read from q manu-
script ~ follows
Mr. Chairman-l have some resolutions
10 offer for the consideration OF this meet
Ing, and before doing so ! desire 10 SUBJ
nit few facts in reference 10 the press
ing want OF our city
We are all agreed that Memphis must
have paved streets and more sewerage.
How 10 attain the necessary improvements
is the problem before IA. For my part ]
can see no way for accomplishing our pur-
po.c except 10y issuing bonds.
There are many living in the past, inilu-
enccd by the condition that prevailed In
Memphis ten and twenty years ago-ior-
getting the great strides that our city has
made during that period In wealth, popu-
lation, number OF railroads and factories
who became frightened ut any stop toward
Improvement which would increase taxa
ton. There il, however, another aud
a more numerous class which, recognizing
the rapid growth, the prosperity and
progress oi ncighbOrng cities, arc anxious
10 place Memphis on n similar basis, aud
are willing, like public spirited citizens
elsewhere, 10 pay for IL.
The prominent objections urged against
the increase Of the City's debt ar5 three
fold
/. II increases taxation.
.. II breaks faith with the holders OF
our bonds.
3. The new bonds can not be placed.
We must acknowledge that an increased
volume oi business means Increased eN'
prnditutr. II this H. true Of private enter
| priscs Il Is equally true OF corporations anC
cities.
The promise made 10 the present hold
/ rrs Of our bonds. not 10 issue any mon
/ until their redemption, need not b,
/ broken, for they can be called In as IN,
now bonds are iloaicd.
Those who maintain that new bond
! cannot bc negotiated have no foundation
Tor their belief, and are governed mercl
los their iclrs.
With an assessed valuation 81 So, COO
ono being less than onc.hali the aciu.
value ~ Memphis realty " Is rcnsnnabI
in assume that "a loan OF Sl,OO0.OJO 4
sH.OlO.u01 can bc readily obtained.
our city must have these improvement
a. any reasonable cost, bccpugc they ~
essential 10 iis existence. az what Wit
importance they arc can bc estimate
when W. reflect on thc immense loss, n,
only IT money hut oi confidence aso, thl
followed tho panic oi last summer.
Memphis. above 81 the cities from !
unfortunate past, must give suhstanti
proofs ~ the world that ~ citizens are
earnest Ia their cuori 10 mako u a health
city
Aside from the opinion Of the outsi,
! world. We have a population OF man
+ thousands Who expect TO make this ci
THEM lilo.homr, Who remain with ua suu
mOr and winter They should have pa
lection, security and confidence. II no
IL j. Only o question oil time when ono AFT
, another will look in other directions {,
Those necessary conditions which are sad
wanting herr.
b This. then, Is the question 20 serious
4 consider Shall We allow oW city, NJ (,
ui promise. 30 adyan'aVously situated,
D | dufi backward for want 81 un cnllghlcnu
+ and liberal public policyl Finally, q
whole matter resolves itself into a qucsiiD
I. OF cost. u Ii M, bct,cr, II necessary,
, give up ouC.louHh OF our pusgclaiinua nj
d 5lw ihc remainder than Ia joorirjizc q
, whole by u narrow. minded policy7
lrt us be- honest. II We cannot hn
bonds let us assyfs property ~ is o.
value, on which tax Of per CT
* would realize sl,ONOuO annually -vnou
!. ior our purpose at present
Now, Mr. Chairman, move the ald
~ don of the following resolutions
4 Me Mcnkcn then rad thc inlloWi
, rtsl.ut.ons and moved their aiopiiom
Resolved, That IL is ihc sense 81 Il
D. meeting that the sircr,soi Memphis Fhou
J. be- properly paved as quickly 49, p1tlb
rnd that our acWCr HysiCm should be Z
tended 90 al part oi the city,
10 Re olycd, That measures should NJ on
, be- inltirel TO procure such legislation
u Is necessary to obtain the necessary iun,
b. Received, Tia, the chair appoint a co
n, mitlcO Of nine Cit,l,ns to formulate
plan tur the pdtpoios st forth, said co
&c mlicc 10 rcpor, buck 10 q mas meeting
" citizens 10 be called by the commit
within fifteen duyA
The rsolutiona were put 10 rmcct.f
h. Mr. J. r. Goodwin Offered an amondm,