Holly Springs gazette., 1843-11-03


through the statute books they therefore
mnsi De added 10 the above sums After
dfiigent research, give The Lest estimate
that can. as follows
/ Capitol, between 5oo. Geo and S60eot0,
say 2Sn0 an9
+ Peniteniis4y 000 n0o
GovefAnI's house I75O0a
ss75. 600
During the same time the following extraor-
99tnary expenses have beenNincurrcd by the state.
I For revising the laws of the state $50 600
| special appropriation 10 purchase libe1-
To cleans the United States arms. S003
expenses oi peaiientiary, independent
oi its eqSs, 5OO13
Expenses of General Jackson's visit. 25Op
Making The whole amount of these --
extraordinary expenses, $3.50 goo
his SUN taken from tho difference OF
Sl,047.0I5 aforesaid, will leave unaccoun-
ed for. by these extraord mary expenses. tho
tum oil SS0,S45 for the six and a half years.
which is equal to 81 COS per annum that
Is, The ordinary expenses Of the government
have been IA The past, SIS, COS per annum
more than | calculated for The future. But
when 1t Is remembered, that within a year
OF two past. the salaries of many ofthe Off
GERS Of government have been raised that
the sessions Of the legislature have been
much more long and frequent then | anlic-
pated .orthe future lha. the public print
ing has been about 10000 and aoiu Be bus
about $4,000, per annum, it will easily bs
supposed that these expenses will be els
o0o less for the future than they have been
Tor the past; and this brings the ordinary
expenses oil the government down TO my es.
innate Ii is worthy of remark. that the E.
numerated expenses of the past will be to-
tally cut of Tor the future The capitol.
governors house and penien:iary are COM
pieted the penltentary has ceased to be an
Incambrance on The state, (beyond $4,000
allowed IN my former calculation.) Ii -
worthy otremark, that the above concln-
sion is arrived at from data entirely dif
fefenl and independent of those of my orig
NAL calculation. but both ale true, and there
lore lead 10 The same reSu!t-each estimate
proves the other to be inlaliibly true
Buragain--the Mississippon pretends
have not calculated interest on the cou.
pons due and hereafter to become due. This
is not true in fact For The coupons now
due and unpaid. have calculated interest
up TO July 1871 or 10 speak correctly.
have calculated interest en- the bonds to that
date. The coupons bear no interest,", Qhe
bonds bear interest. the csupons are but Ger
tifcates of interest. made by the bank, uot
by the state, for financial commerce, not To
change the contract--simple interest on the
bonds is all that The state was TO pay-and
wis thcr The coupons exists or not. that much
Of interes. has TO be paid. and no more; aud
SO have caculated it. For the coupons
due after July 1914. have calculated the
interest upon the bonds up to the time that
interest shall become due. because the il
creased taxation provides for the paymeE.
e -, - = / !.
quently. no additional interest can accrue, II
that interest be punclually paid And here.
be il observed, Is the distinction in our cal.
cul1tions i calculate upon the suppositiou.
that we shall. dfer 1914, ray the interest as
it shall become due The Mississippian
upon the hypothesis that no payment shall
be made until 1859, and the difference
hereby cfea.ed. is enormous. Mine proposes
the payment Of but 1888, 600 of interest
onthe Union bank bonds, when bis requires
the payment of 206.7ls ofinterest, and
opon the hypothesis assumed bY each. both
calculations are that far correct but bis
hypothesis Is wrong. because such a DELAY
IS dishonest, and violation cfour contract
II Is the offspring of Reputation. il
right, because il provides for the payments
as they shalt fall due Upon his hypcthe-
SIS, when he day of payment shall come, i
will bring upon the land the destruction
threatened IN that article upon mine, a tax
of one eighth Of one per cent will discharge
the whole Regulators will be responsible
for the evil consequences Of his calculation.
Bond payers, for the consequences of mine
Never was there more slrikine.iilusira-
ton of the truth of that old adaqe. tisat
T. |-''honesty Is the best policy"
Again. the Mississipian says, that nv cal
culalions arc wrong. because the present re-
venue yields but S275O00 that an addition
al tax of eighth of one per cent. would swell
that into S4l2.500. which would Be jnsuf.
ficient 10 pay the expenses ofthe govern
ment amounting to 8250.000, and the in
lerest on the bonds There are two errors
in these assumptions frst, the present melt
revenue, as | showed II in nv original cal
culation. IS 1907. 90j-the assessment of
taxes. s347 ,ssS. and would, by the proposed
increase of taxa.ion. be swelIed into sos.
9o5. second,the ordinary expenses ofthe gov.
eFnmen'. as showed n my original calea-
lation. and as | have proven above, viii be
Sl39,070 | also showed that the annual
interest on the Union and Planters, bank
bonds Con the hypothesis that the interest
will be paid it shall become duel will be-