The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-02-12
CLEHS AND TIE SOUTHERN
RONDC


CLEW.S AND TIE SOUTHERN
BONDS.
Mr.. Henry Clews, who, with or without
tho liberty OF Congress, is one OF the few
money changers who lave had the check
TO set up Offices in the halls OF the
National Capitol has issued circular in
which he has the check TO protest against
the Southern States receiving any OF the
money that is TO accrue TO them from
the bill now before tho Senate,
and which provides for the pay
ment 10 the several States and Territories
and the District OF Columbia OF all moneys
collected under tho direct tax levied by
Congress in 1861. Mr.. Clews, who has
left memory OF himself that the South
will not soon forget in connection with
her bonded Indebtedness makes this pro-
test because these States "have outs,and-
ing bonded obligations that, although
mostly issued prior TO the war and OF UNI
questioned validity, are not paid. either as
TO principal or interest, and that the
amount Of the indebtedness is now
between s3OO,OOO,OOO and 100000
0OO." lie therefore enters his
protest against any moneys being
paid under said bill TO such delinquent
States, until such time rs q settlement is
had between them and their creditors,
or their debts are in some other way pro-
vidod for; and until that time they respect
fully ask that any money appropriated for
the benefit Of such States shall remain in
trust in the National Treasury, with view
TO final adjustment" Mr.. Clews gives
four reasons in support Of this impudent
request as follows:
In support Of tho foregoing position. We would
respectfully urgc, among other things, tho fol-
lowing
I. Because the moneys that would 10 drawn upon
under said bill. being tho common property Of the
whole people, belong In part 10 Us. and II would
tribute for the benefit OF Staten that refuse 10 pay
what they Justly owe
= Because. a. We have no redress against repu-
dating States In the courts 81 the county. have
right 10 look for the kindly Offices Of other do
partmcnls OF tho government
q Because while II IL uned In justification OF
the delinquent commonwealth that somo Of the
debts were contracted by local governments that
did not cmanaic frpm the people Of the States said
debts wcro created by governments existing under
The authority OF tho general government and In
pursuance Of the direct legislation Of Congress and.
4. Because the public credit aud the general vel.
fare demand Of the pcoplc'srcpr-entatlycs at time
when the dlsrcgRri Of public obligations IL lar
morr general aud fragrant than At any other period
Of the countys history. that thoy should dlscoun.
tenancc the violation Of public contract. aud on.
dcayor TO establish Justice and good falih through
| out the land. .aI 100 III
OF course Congress will not pay any at.
tention TO this demand Of Clews. II could
not II Il so desired. Eventho Republicans
know that rs Clews admits In the third Of
tho above paragraphs some vf the debts OF
The States were contracted by local govern
ments that did not cmanate from the people
Of those States and therefore were Illegal and
ought not TO be paid, but there may be some
Of them who do not know that this
same Clcws helped TO find market for
some Of the bonds that represented that
Indebtedness, and that Il is these partly
cpudia,ed bonds that no represents, and
In part payment Of which he asks the Con.
grcss Of the United States 10 withhold
nearly, II not quite. S2,5OO.0OO from the
States Of Alabama, Arkansas, Florida,
Georgia, Louisiana, Minnesota, Misslssip-
pi, North Carolina, South Carolina, Ten
ncsscc, Virginia, Yves, Virginia and Texas