Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1854-01-05


debtedness, it will moi be out {
place, nor Improperb TO refer TO th
probable amount wed by countle
and corporations throughout tn
State, which has been created b
the assurance OF county and corpt
ration bonds, which cannot~be les
than five million d pillars, $4,000.
600, probably much more, NJ akin
the whole liabilities ef diie peopl
! of the State, present and prpspec
tive, twenty-six million SIX hu undre,
and sixty seven thousand one hun
dred and eighly-one dollars, $50,
667, ,lSl.)'
Of the present liabilities, tn
State has at this time vested in va
rlons turnpike roads, one mIlliel
two hundred and thirty thousand
eight hundred and fifty-six dollars
(S1,230,s56,) for which State. bond.
have been issued, and now pay:
interest fon tlem, amounting to six
ty-one thousand nine hundred and
sixty-nlne d pl|ars, (SGl, ,969) The
entire amo unt received into the
treasury an nually from this invest
ment in turn pike roads, is Sl5,l06.
making net loss 10 The State, an
nually, of SIC 1863. 1t is to be
hoped, however, that the profits a
rising from the inye estments made
inthese turnpike road 5 by the State,
is not correct indication Of invest
ments to be made in future in any
work OF internal improvements =
Eleven of these roads, as yet, have
never declared a dividend, aud the
prospect Of their ever becoming
profitable to the Staae is exceeding
ly doubtful from prese mt indications.
INTERNAL IMPROVEMENTS.
The constitution Of the State de-
clares that "a well re sulated system
OF internal improvements is caIcu-
lated dtodeyelope the T esources ofthe
State, and promote The happiness
and prosperity OF her citizens, there
fore it should be encouraged by the
General Assembly" Internal i'm
plovements is d subject that has
been for some time back, and is
now, exciting deep and lively in
terest among the people, in many
portions of the State. The ques-
ton, how far the State should be
involved in constructing works Of
internal Improvements, and what
works shall be first undertaken and
completed, must be determined by
the wisdom and sound discretion
Of Senators and Representatives,
who have been selected on account
Of their superior knowledge of the
local aud general interest Of the
whole State. "a well regulated
system Of internal Improvement
would seem to indicate that the
leading and most Promihent works
calculated and intended to connect
the three grand divisions Of the
State, should be first selected and
completed Such other works
should then be undertaken as expe-
rlence and the interest Of the coun-
try might suggest. Ii should be
the great and primary object of the
General Assembly to bind the State
together from ld dhnson to Shelby,
by railroads or 9th er improvements
which would &C complish the great
end, making us one and the same
people in com 10 erce, agriculture
and mechanics. A $ system like this,
conn getting itself with other impor-
tant works beyond the limits Of the
State, would seen to accomplish,
the design OF ih E constitution
While il is the duty Of the lesisla
ture, under the constitution, TO los-
ter and encourage "a well regulated
system Of interna improvements, y
it should be extr emely careful in
not undertaking too many works at
the same time, an i thereby dividing
the energy of the State, and indi-
viduals TO that ex tent which wonld
cause delay and ( allure in many OF
them, and at the same time result
in great loss and useless expendi-
ture of The peoples substance
The system should always be so
as not I'd involve the State
in heavy liabilities beyond what can
at all times be me It when they fall
due, by the treas nry, with prompt
ness, without ha4 wing TO resort TO
heavy and oppressive taxation on