The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-03-18


The bishop says there are only fifteen com
have done nobly, which means that they
deserve nobly at the hands OF their fellow
communicates everywhere. Fps AprEAL.
No More Bondcd Debt.
To The Editor OF The Appeal.
The article OF Judge lieiskell published
in the Lcdgo, opposing the issuance oil
81, 900. 900 bonds to pave the streets Of
Memphis, is worthy OF careful considera-
ton. and especially that part Of it that re-
minds ny so iorcibly OF the fact that the
property Of this city was brought 10 the
very verge OF connscation by the improyi-
dent issue OF bonds, and the prosperity Of
the city rolled back nearly quarter Of a
century.
hut by the liberal compromise OF our
creditors, brought about by the aid oil oh.
structive legislation, yellow fever sympathy
and the assurance OF our city fathers that
no new bonded debts would ever be
created, one half Of that vast debt was can
cclled and the interest on the balance
greatly reduced until we could sewer oul
city and repair our leading streets.
| These facts and the withdrawal from the
municipal government OF the power ol
taxation and the creation OF future debts,
inspired confidence, and our city at home
and abroad, grew In popular favor and
rapidly advanced in prosperity and popu.
laiion.
The people were heavily taxed 10 make
said improvements, but those taxes were
freely and promptly paid by all who
could, because they felt that no new debt
were being contracted, and that Their
money NO paid was being honestly and
economically expended.
In view Of this sad experience, solemn
pledges 10 our compromising creditors
aud the memory OF our humiliation in re-
pudiating our debts, ! cannot See how any
rejecting propcrtyholdcr in the cityof Mem.
| phis can favor the issuance Of 5000, 900
| OF bonds, and thereby al one bound place
our aggregate debt almost as large M IL
| was before our degrading compromise;
and such u proposition coming from the
president OF the Taxing District is
startling, when considered in connection
with the facts thai he gave the compro-
missing creditors the most positive asslir-
ancc that IL they would compromise their
bonds at 90 cents ON the dollar no other
bonded debts would ever be created until
their bonds were paid.
Therefore | nm unwilling 10 believe that
Mr.. MADDEN favored this laithless, unwise
aud dangerous scheme. Once open the
door 10 create future debts aud violate
public pledges. and who can tell where II
would end. II requires no prophet, how
ever, 10 lorr.ell the fnct that IL would be n
wrong 20 our creditors and an injury 90
our city, ior such n course would not
only dishonor rs abroad, but would
destroy public confidence in the honesty Of
purpose OF our officials, ~ well M our
capacity for self government. IL would
check the flow 81 population 10 our
city check It's progress, and in the end
oycrwhclm her with debts too gricyous TO
be- borne. Fay a. you 20 il the only wise
policy. either in private or public life;
therefore, am opposed 10 the issuance Of
bonds. either 10y the city, county or State,
aud the people should at once nip this nm
wise aud visionary scheme In the bull.
fqualizc assessments AMI assess tho mill
ions Of dollars Of property that has here.
toiOrc escaped assessment, aud there will
H. no need Tor the issuance Of bonds,
on the increase OF the utc OF
taxation, but il would loo far better 10 raise
ihe levy for street improvements than TO
follow the example OF the old city by Is
suing bonds.
ON the eve Of Mr.. lIadlen's last election
| WIS praising him when a gentle man
wanted to know what he had done. ] re-
piled That lac and DR.. Porter had made the
bota mayors Memphis ever had, they had
driven the yellow lever and city debt away,
bo'h lad, aud Of the two thought the lat.
Ter the greatest cuur.
quote from the sermon OF the eminent
Dr.. Talmage 10 the young men. headed
"lhe Dcmonof Debt lie says: "Whcn
creditors ~ after n man like a pack Of
houwls in full cry. alas Tor the reindeer.
They jingle his bell after he has r.iircd ut
night They meet him as hc comcs down
his iiunt steps. They send him letter
or postal card, curicst style. telling him 10
pay up. They attach his goods. They
want the cash or note nj
thirty DAYS or a note on demand. They call
him knayc. They tell him he lies They
I want him disciplined at the church. They
want him turned out oi the bank. They
come NJ him from this side and from that
side, irom bcfom aud from behind, and
I from above aud fnom beneath. And hc II
chased, aud sooldcd, aud sued. and de.
nounocd, aud dunned. and sworn at, aud
gibcd. tall hc gets nervous dyspepsia,
gets neuralgia. gets heart disa~'. grts liver
complaint, gets conyulsiyo disorder, gcis
consumption.
lie j. dead now, aud surely they will let
him alone. No, No, No, Ills creditors
watch that thcr Ia no unnecessary expense
ut his ol,scquics, whether there are any
useless. handles on the casket. whether II
u lined with muslin OF silk, whether the
shroud n In uupcriluous plaits, whether
the tloNcn ON the ctskot acn bought by
the family or donated. whether the hcarre
y cheap 90 costly Ia whose name the deed
OF the grave made out
Then they mnsack the bcrcit home, the
books, the picturna, tho chain, the piano,
the maltI,HsS, the carpets. Cursed bc
debt. For the sake Of your good morals,
Tor tie sake Of your soul, for Gods sake
Keep Out OF debt"
IN conclusion win say. have practiced
this mcihod Ia the management Of my IN.
diyidual Interests aud ns president OF Film.
wood cemetery, and firmly believe Ia H.
wisdom, and deeply interested Ia the
future prosperity OF Memphis. desire 81
sec Il also practical la the management oI
the affairs Of the city. JosErn LrNow.
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