Year: 1876

| The time has come that the DaODle
| of Tennessee, who are voters as well


as tax payers, must de.ide the question


as to the payment. or repudiation OF


our State debt. That we owe debt


is not the question; that matter has


been settled by the people of the State
irrespective of party. But the point


now TO be settled is this: will we pay


the debt, or will we repudiate it, This
question must be settled by the people
at the ballot-box, and done at the next
election. The first thing to be consid-
cred IS this are the people of Tennes-
see able to pay what they have already
acknowledged, and, must still acknowI-
edge, they owe the creditors of the
State ? If the debt is larger than can
be paid without ruin, or serious impov-
erlshment, then the next question will
be, how can they pay? Let US now for
moment take account of the assets
of the property holders, or the real
value of the property Of Tennessee.
In order to do this, we need not go to
the textbooks for a truthful statement.
The books of the various assessors do
not show the real value of property,
neither do they show more than half
the property in the State. According
to that source, the taxable value of
the property in the State, is only $278,-
3S,Z63. and this does not include a
very large amount of personal proper
ty not taxed, nor show much more than
half OF the real value of that which is
taxed. An honest exhibit of all the
property of the State, even at less
valuation than is placed upon it by the
holders, will reveal the fact that prop
erty to the amount of 500,000,000 is
ownedi the State, and is now In the
hands of the taxpayers.


The next item to which we invite the
attention of all honest people is to the
annual income of the people of the
entire State, and this will be found to
be largely over $100,000,000 Now let
it be remembered that these figures are
not wild estimates, but are based upon
accurate statistics, which cannot be
disputed. Then how stands the case =?
Here we have people owning in
the aggregate property in value of
over five hundred millions of money,
with an income which will average
more than one hundred millions dol
lars. Now let us compare the ability
of the people with these means in hand
to pay the pitiful sum of twenty-five
millions dollars. This twenty-five
millions is not to be paid at once, but
in very easy installments running
through long series of years. What
then does this false complaint which
comes from demagogues amount to?
Just to this, and no more These fell
lovrc ovnoot ~ riHa safo tbo
upon this utterly false cry of the ina
bility of the people to pay debt which
can be paid without any seriou Simeon
venience to the taxpayers. Already
we learn that in few counties in the
State demagogues are already announc-
ed as candidates for the next Legis-
lature, upon the reputation platform.
Such men are either morally dishonest
or too grossly ignorant to be trusted
by any people in a position of respon-
sibility. Appeals will be made to the
ignorance as we'll as to the prejudices
of the masses by these blatant dema-
gogues, in ord 10 induce them not only
to stultify themselves, but to do delib-
crate act that will bring shame and |
dishonor to themselves, their families
and their State. But we will not al
low ourself to harbor such an idea
of the people of Tennessee. We have
faith In the honesty of the great mass
es. Their hearts are in the right place
in those hearts are the warmest emo
tions of laudable State pride, and
every pulsation is pregnant with pa
triotism too noble and too pure to al
low them to bring disgrace upon our
noble State and her honest people
Paris InteIhgencer.