Loudon free press. (Loudon, Tenn.) 1852-1855, 1854-01-10
EXECUTIVE DEPARTMENT,
Nashville, Dee. ~, '53.


cem5er 49, 1888.
EXECUTIVE DEPARTMENT,
Nashville, Dee. ~, '53.
FNopcaiseRs Of tie Senate and
House of RepTesen afires:
The Co.'s tuition of the State requires the
Executive from time to fime, to aife to the
General Assembly information Of the state OF
the government, aud recommend TO their con-
sderation such measures as he shall Judge ex-
pedient and proper. In eVmpiiance with this
raquisition OF the organic law of the land, with
out any long or unnecessary eyordiun, ] shall
at once proeeel TO discharge the high and re-
sponsible duties lhHs imposed.
Ia the first place, the attention Of the Gener-
al Assembly Is most respectfully invited 10 the
present aaa nropective indeAlesinessof fihe Stale.
The liabilities Of ihe State, al they are term
ed by tbs. Compu1iIsr II tllss JseasQrg, acre in
OF ber'ast. tsre, st'iieii .s,asstais ~
one thousand ei{ht hundred and titty-siX dollars,
($3.S0l .S56l Tie credit of The State has neen
loaned TO various Railroad Companies; aud
bonds issued to the amount of one million niue
hundred and fprtv-ive thousand dollars, ($l,-
945,g00 aud should be added to the present IL
abilaties; making them, in the aggregate, five
million seven hundred and ffiy-six dollars.
(S5.146,Sj6.)
ToihiS amount there might be very properly
added the surplus revenue which WAS received
on deposit. and the faith Of the State pied .ed
for the keeping and repayment of the same.
which now constitutes a part of the Bank of
Tennessee and common school fund. which is
made a perpetual fund by the ccr st tHi,u.-
These two sums make one million five uudred
and twenty thousand three hundred and twenty
FIVE dollars, (Sl,j205Zj) which makes the la-
hilitics of the State. upon this time, seven mil
lion two hundred and eighty one dollars, iSi,-
267.lSl.
The prospective liabilities which ar, author
zed hy au act to establish 4 >yS.em Of inter- 81
upro, emen'S in tl's State. passel on tie II H.
dav.of February, is52 aud varoaS other acts to
aid IN ;he luEing ol bridges. vii. If cagri,d
iuto tull and successful operation. create an ad
duonal debt OF about q hit million dollars
more: which, when added To the liabilities al
ready referred to. viii make the whole liabilities
of tie state fifteen million two hundred and
sixty seven thousand one huudre and eighty
one dollars (&I5.267,ISl.( And if the internal
im',FrNemrnt bill now under consideration be-
fure the legislature should become law, it viii
increase the prospective liabilities near six mil
lion tmr hundred thousand 90 lars. ($a.I00,3 300
which will make ihe ,rapd total Of the pre- ,eut
aud Irrespective liabilities of the stale twenty
one nlion six hundred and sixty seven thou
aapd one hundred and eighty one dollars tS2l,-
7.sll VII lie on the subject If Safe in
d-bteincss i viii not lie out of place nor In
proper, TO ref-r 10 Ihe probable amount owed by
counties and corporations throughout the State,
VIII lras been created ly the issuance Of com
tx aud corporation bonds. which cam II be less
than FIVE million dollars. ($5,009,0 ,000,) probably
much more, making the whole liabilities of the
penple of thc State, present and prospective,
twenty-six millions Six hundred and SKY seven
thousand one hundred and eighty-one dollars,
(S26,667, ,lSl.)
OF the present liabilities, the State has at
this time ve>tel in various turnpike roads, one
million two hundred and thirty Thousand ight
hundred and lfty-siX dollars, l5l,230, 500 for
which state bonds have been issued, and now
paws interest OH them, amounting to sixty thou
sand nine hundred and sixty-ninc dollars $500,
969.) The entire amount received into the
treasury annually from this investment in turn
pike roads. is SIS, l06. making net loss to the
State, annually, of $l6,I63. 1t is to he hoped.
however, that the profits arising from the In
vestments made IN these turnpike roads by the
State is not a correct Indication of investments
to be nade in future in any works of internal
improvements. Eleven of these roads, as yet,
have never delared dividend, aud the prospect
Of their ever becoming profitable 80 the Stale,
is exceedingly doubtful, from present indications.
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