The commercial. (Union City, Tenn.) 190?-193?, 1904-09-16
GOVERNOR FRAZIER'S
OPENING SPEECH
Democracy's Standard-Bearer Gives Convinc-
ing Account Of His Stewardship.
Mastery Review Of His Parys Splendid Record in Tennes-
see-Attacks Of Candidate Lhteton Answered With
Vgor-Electon Laws Were Enacted in the
Interest Of a Pure Ballot.

/ s16,5OO.OO0. This was accomplished
over the opposition Of the Republican
party, which during the administration
Of Gov hawkins sought to fasten on
the people their 1903 and their SOC
bills, which if allowed to stand, would
have impoverished the people and
barlSruptcd the State.
In 1899 a Democratic legislature
passed, and my predecessor, Gov. Nc
Millin, approved, sinking fund law,
which provided that 10 per cent. of the
gross receipts OF the State should
be applied to the payment Of
the public debt, and that any
surplus over and above the cur
rent expenses remaining at the
end Of the year should also be turned
into the sinking fund to be applied TO
the retirement of the bonded indebted
ness.
Under the operation of these laws,
passed by the Democratic party. there
has been paid a floating indebtedness
Of $850,000 and bonds to the amount
Of $1,67S,6O0 have been cancelled and
retired. thus reducing the interest
bearing obligation of the State $2.52S,.
600. Since | became your governor
something more than year and a half
ago, there has been purchased and re-
tired $4S5,900 of bonds. Thus, by the
wisdom and splendid craftsmanship of
the Democratic party, has this great
and vexed problem finally been
solved, and the debt is being paid at
the rate of more than third of a mill
lion dollars year, the amount already
retired making an annual saving in in
terest to the people of more than
SIS 900,
The States credit has been restored
and maintained, and stands to-day in
the money markets Of the world among
tie first of the States Of the Union.
| believe that the public debt, which
had rested for SO long as burden
upon the people and has hampered the
progress and retarded the MATERIAL
development of the State. should be
paid with reasonable rapidity, and
have insisted and shall insist that at
least 10 per cent. Of the gross receipts
Of the State shall be thus applied.
But I do not believe the payment of
this debt should be pressed so as TO
lay undue burdens of taxation upon
this generation. who did not create the
debt. and who received no direct bene-
fits therefrom and who are therefore
under no more obligations to pay it
than the generations which are to
come after them.
Nor should it be urged to the neg
lect of the other fair and just demands
of the State that are pressing and i'm
minent. When came into office
found that under the operations Of
that part of the sinking fund act al
lowing the surplus to be turned into
the sinking fund the State was apply
ing over 20 per cent, or more than
of its entire income, to the
payment Of the public debt. | found
at the same time that the average
terms Of the public schools Of the
State, where the sons and daughters
Of the great mass of the farmers and
working people must get their educa-
ton, If they get any at all, were only
open on an average of ninety-three
days in the year, and in many of the
counties of the State less than seventy
five days.
found also that there we're hun
dreds of thousands of old, MANNED
and helpless ex-Confederate soldiers,
whose records were clean and who
were entitled to pensions under the
law, but who could not be placed On
the rolls for want of funds with which
to pay them; and said these debts
which grateful people owe to these
old soldiers and which we owe to these
boys and girls are sacred
and pressing, and must be paid now
me debt of the bondholder. which
is not due for nearly ten years, can
wait These boys and girls, who are
to make the future manhood and wo-
manhood of the State and are to be
the chief factors in the development
Of its resources and the production of
It's wealth, and who will in few years
take charge Of its affairs. shape its
policies and determine its destiny,
must be trained, educated and made
citizens now or 1t will be
too late.
To these old Confederate soldiers
y no sacrificed their fortunes their
hopes and their health at the call of
their state must be extended the help
ing hama of a generous and patriotic
people now, or 1t will be too late. A
few more years and they will be gone
and there will remain only the mem
Dry of their splendid courage and he
roic devotion to duty.
AS between the old soldier and the !
10000 bright-faced school children
who need the states help on the one
side. and the bondholders upon the
other, said. and repeat 1t here, let the
bcndholJer wait. l recommended to
The legislature that the appropriations
for pensions to ex-Confederate soldiers
be increased. and they were increased
$50 O01, making the total appropria-