Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1855-10-18

Lebanon and Nash 80
vile do... .....1 So0O0OJ z s14ozo
4 Nolensville do .....-re 4,0OQFs-~, Ito
; Nashville and Char ooao,
lotte do. oU,pOo if AV,OA'
Lebanon and Sparta - Jo03
do ..... -. .-.- fo9,NoQ -
Columbia Central do, l39,oOo ~ -'l "a, IN
Nashville and Ken-59f0g .lf nIE5 ..Is o
| = lucky do..;. -! $1,000 1a.s yls,S 1890 (
seIIyiiis do. s75oo7 stec sOo(
Columbia, Pulaski and sisLf. -a s9fta.g.
Elkton do.. 1866 $50 Iz,Zot
ffeslst1 freesboro ts Do. ss,sss esI eSo5aC
G1llatin 13dafhnd and nd Cum g 5000 0xj Us h s2ss
GaiIatin 100000 $4,000
| stones and Ca,nb- ss.
erland River do. $4,000 2o,OOo
Total value. s8,,29a ,7ls &C. s2,,244,s27
The above turnpike companies pay
/ six per cent on the estimated value. e
Total value of Taxable Prop- o,-o,
The humber of Taxable Polls, 10000 II
State Tax on s2l9, ,011,o47 81 s,..,
at 10 cents on the 100 dollars 219,oll o4
State Tax on 10Oo11 polls at SO n
l5 cents. ........ ...Tarfs 5,ool 90
At.the last session Of the Lagisla-'
ture, an act was passed, directing the
Governor and Comptroller to- invest
the dividends arising frem the stock
in the Union and Planters Banks in
the six per cent. bonds. e5We have
received, on account Of said bonds,
one hundred and fifty-fve Thousand
two hundred and forty-nine dollars and
thirty-six cents; and have contracted
with the Bank of Tennessee for the
whole amount in Bonds. -o-s 81 q =
'i9 AS it becomes your duty to ap-
appoint Committee to examine the,
accounts of the ComptrollerandIr Treas
urer, [ would therefore suggest that
YOU direct the same Committee to e3-
anime and report as to the amount !
received and disbarsed under the act
of 1854, Chapter AZ: III l.
For the details Of the State debt,
and the true condition Of the Treasu-
ry, [ most respectfully refer You to
the report Which will be made by the
Comptroller of the Treasury. ,saiania /
7a- BANKS. 3@Ga t. agtfo,fh
The condition of the Bank of Ten
nessee will be fully set forth and made
known in areport which will be made
and submitted to the General Assem-
bly, by the President and Directors of
that institution at an early day. I'll
will be seen, from a careful examina-l
ton of the report, That the principal
Bank and branches have been con-
Quoted with great efficiency in the or
binary banking transactions, and es-
peciaily SO in collecting and securing
a large portion of what is called the
debt. More of this debt
has been collected and secured in the
last two years than at any former Pc !
Rod. 'b
In regard to this Institution, | still
adhere to my former opinion, as sub
mitted to the last Legislature, that
the principal Bank and its branches
ought to be put into gradual liquida-
ton, and that the present is an auspi-
cious time forsuch gradual liquidation,
giving ample and reasonable time to |
all persons who are indebted to the
institution, to make arrangements for
paying the amount they may owe the
principal Bank and its branches. The
process of winding up the institu-l
ton at the present time, can be made
so gradual and easy as not to embar-
rass the indebted portion of the eem-
munity in the smallest degree.
A number of banks have gone into
operation under law passed by the
General Assembly Of 1872, and
others no doubt viii soon commence.
In addition to this, the last Legisla-
ture incorporated seven Stock Banks,
which will more than supply the vac
uum created by the withdrawal or
the winding up of the Bank of
Tennessee, and furnish all the bank
inc facilities needed by the whole com
mercil and business portion OF the
country. AS the capital of the Bank
is withdrawn from circulation, it can
be pro6tably invested in the Bonds OF
the State, thereby again making its
way into the general circulation, and
at the same time creating a home
market for the Bonds of the State
equal to the entire assets of the Bank.