Business; Capitalists and financiers -- United States; Speculation; Wall Street (New York, N.Y.)
The late ex-Governor Alexander H. Stephens, ex-Vice-President of the
Southern Confederacy, is on record as saying, in reference to this
repudiation, that it is “nothing short of public swindling. Not less
infamous than obtaining money under false pretences.” But the partisan
feeling was then so intense that even the lamented ex-Governor Jenkins
was hardly accorded a respectful hearing in the Constitutional
Convention, of which he was president, when he plead against sweeping
repudiation without granting the holders a judicial hearing. Ex-Governor
Jenkins said on that memorable occasion: “Now, sir, I take this ground:
that for the proper examination and investigation oi these claims,
neither the Legislature nor this Convention, nor the people themselves,
are a proper tribunal to decide these matters. They ought to be examined
and determined judicially. It will now, I presume, be admitted that the
five years’ time between legislative and constitutional convention
repudiation was not allowed to pass unnoticed by the parties having
these bond claims against the State. Having waived our sovereignty in
the past to allow the State to be sued in every county in the State on
claims for small-pox expenses, I submit that our sovereignty ought not
to be plead to bar so important an issue as that now under
consideration. The State can, in no event, be put to loss. The whole
State has been largely benefited by the legislation and by the executive
action which was subsequently repudiated. We have been for fifteen years
past collecting annual taxes on fifty millions of enhanced value of our
taxable property; an increase which is directly traceable to the good
effects of the new railroads built under that legislative and executive
authority. Shall we—can we honestly receive these benefits and repudiate
our liabilities?”
* * * * *
An interview with ex-Governor Rufus B. Bullock, of Georgia, May 29th,
1885:
A reporter called upon ex-Governor Bullock at his rooms, Fifth Avenue
Hotel, and obtained the following interview:
Public-domain text, read in full here on John Shaqi.
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