Piney Woods planter. (Liberty, Mi. [i.e. Miss.]) 1838-1840, 1839-01-26


and deposite might be useful under this
systeIn, but banks Of circulation would e.
yentuaIly prove highly injurious 70 the
welfare Of the country Real estate, mi
this country, affords no secure basis for
banking operations, for ifit is forced iato
market, and cash paymentsdemanded, du-
ring period Of general embarrassment, ID
will not sell for one tenth Of its value. ~
State bonds could not readily be obtained
TO bank upon, for we have no surplus capi-
tai to give for them. The circulation Of
the State is already much too large its de-
crease will bring everything to its proper
level, and greatly enhance the profits Of
p:AH;;ag--the merchant will also be benc-
fitted. The passage Of q general banking
law. similar in its character to the one IL
New York, under existing circumstances,
would only aggrayate the distresses Of the
country.
Itappears from the Report Of the Audi
tor. that the total amount Of receipts into
the Treasury, from the 7th December,
1907, - tisS oisr DeCeInDeT, 1898, aunt,
to the sum of one hundred and nnoty-six
thousand nine hundred and ninteer dollars
and ninety-six cents; and the disbursc-
ments during the same period, to the sum
of three hundred and fifty thousand six
hundred and forty-four dollars and nine
teen cents; showing an excess Of expen-
ditures over the receipts Of one hundred
and fifty four thousand four hundred and
twenty four dollars and twenty-three cents.
Six thousand FIVE hundred and ninety-four
dollars and lorty-four cents Of the money
paid into the Treasury during that period
wss on account Of the Literary Fund, and
five thousand nine hundred dollars on ac-
count Of the Three per cent Fund, and is
not subject TO be drawn out to defray the
ordinary expenses ofthe government. The
Report If the Treasurer shows one hun.l
dred and forty thousand four hundred and
seventy dollars and fourteen cents in the
Treasury on the 3lst day of December,
1888. This sum, ifit can be realized in
money which the public creditors will re-
ceive, will be exhausted by the close Of
your present session; and, it will be me-
cessary, either to resort to a loan to carry
on the operations Of the government, Or
provide more efficient means for the coll
lection Of the balances due to The state, by
fax collectors and others. The burthens
on hepeople are already sufficiently one
rous. But few Of our banking Institutions
pay any tax, either on their capital stock
orreal estate. The report Of the Auditor :
herewith transmitted, will show the amt.
Of tax assessed ON them last year. Thel
Commercial Bank Of Manchester, i am i'm
formed, was not assessed, because the act
o tax bank stock provides ii shall be tax ,
d as provided IN the act of Incorporation. {
The charter Of that bank contains no |
;lause in relation to taxation. Some of the Q
,anks have refused to give to the asses !
ors description of their real estate, al I
edging, that inasmuch as their capital
took was exempt from taxation, no taxes I
;onld be imposed on their real estate. EFF {
icient measures will, in due season, be tai
Ten TO enforcethe collection Of all arrcar-
lges oftaxes now due, and ID collect taxes
II all the corporations liable TO taxation,
inder the existing laws, which have not
,een regularly assessed.
Believing the rightof the legislature toll
lax any property il her borders to be UNI
recommend that tax OIL
one quarter Of one per cent. be imposed onl
The loans Of all the banks in the state, but
those that are in good faith, constructing
the Railroads they were chartered To make
AN individual who loans his money at
interests taxed ons quarter Of one perl
cent, KIT hs who invests il In bank stock |
and draws interest on three dollars for