The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-14

or "A
the Jreseut time, 70 amend the ooastitu,iaa OF
he State wo,it DO e's adcaton 70 capita sis that
he pnec nil ". heal ~ saa Sound 10 r,s.ra 20 s.s
people In the fususe AgAa. inpIoydens &c rolling egS
alton and the creation = heavy and ssi State Ia
osbsdress without st least hrs' OBJ aiming the peoples
The tcs, vNus 0, taxable prop ,y, according 70 the
nest oAa that can now be ooA ied III appraxmse shrss
ge,si nd mber OF isIaoie polls .....,... 125,oOo
:paie iAx 20 three burdroa million dollass, Il
ten cents en- the do'iAr, ,..,.,........t. 100000
staie lax N one hundred and I. emit, q ~ ,bou.
sand polls, ct twenty I've cents ......... $3.50
he State will derive large revenue, ming TO three
aandred sud thirty ono thousand two hundred AMI My
as.s tsssi soG 60? .nan .n inc q ,sr rso.pa INTO
Gay be cu,fens expenses Of the SAse when judciousy
sDd economically ,pyopriA.ea.
For fel md detailed staten ant OF the debsed
Of the state ana the true condition Of the rcasurr
meet reeresfoly refer you 70 ue reports 81 me C'aP
Bys ac passed on The 9th day or February, 1874 II
a provided that Af&r paying the inNyes the e,ads
sa issued for stock IN the Union BiuS ne b,ancs
tne dividends and bonus abAl DO vested ~ ue over
Eor and In liz pr cont bon 10 OF the Stats Il
also, made the duty o. the Governor aud Comptroller
aivicends OF sac ock bends OF the aim Sank
~ the amount shs equal the patt OF the treasury
or me IeSe ngson o. Unlon oanE ooa uSaer sne pro-
Comptroller, OF tho bonus and dividends " tae aoa
Brk ere hundred ana fy seven thousand one huudret
and hvs dollars snd nirst, two osns (slo1 ls6 % U
this Mt there has been vestsd hunaFsd nd "a
'hcwApd bupdred and three dollars and f,afess
s Credit os .bs Doc "a Of he bAok ia favor Of this
iuni OF ninety dol rs and seventy egn cena The
bonds Witch have been cancelled are On dePos. II m
ala also provided By The second section OF said act,
hst d7idcncs airing from the school Fand Stock ia the
Upcn ana snlers sarks sba be PAID to tho ord=r
&c Governor and oopr Tor six per cent boaaa OF
ihs Sac. IL further made the duty OF the Governor and
deads m School Fund stock 10 tho Union and Plant
banks In the Bank Ct Cenuessee and take sns receipt
4 the President Of the bank FOR she rhas has bsen
Ad Of ne divder ds arising from the 5choo Fand Ssock,
Union Aad Piante banks, upon Governor and
csmpyolers order, the or afy nine tho sand dol
lara 1859 000 which sum has been vested In six cen
oonos end tee receipt OF the President OF Bank
II Tennessee tAken for Il o same,
Az Il viii become your GUY TO appolr Committee 10
xsmne The account, OF the Comptroller aad treasurer
acud therefore, suggest that you diser. .hs
t to examine and report s. TO the amount received
aod oisbu aed ondsr The Ia - refarrsd TO
In my 1rst two biennial Messages TO 10 Legislatures Of
1854 and 1866 sub mitsd for their ooDsde assn the
prop ley OF ng the 3ank o. Tennessee and M brunch
"a In graousl c0arse Of liquidation; 70 whnh messages
you referred for the 'eAsons and agu eats wuch In
ouCed these recommendations Thee views were follor
no sustained b. the Pfesdent Directors Of ihe
bank IN their report ma1e to tue Legislature OF 1856
he esiden. and Directors, after having asd the oaux
Two eas under their control closely observing in ~
ia practical operations INJECTED With he haauces OF tbs
treasury together with the msney s,rs OF trs state,
Vhh great unsnni.y OF ooilion, recommended that Il
sond be better for the State AMI he peope generally to
Wind up she bank, or to psce |. To grad OF course Il
quidaaon and In their repor! present tue foosing ire
iraebie facts Tsaments il suppor Of rec,.
| menoatioUs, 70 which AK scar earnest attention.
The creation Of many bank. :. the session q he
20 d mss ion D.'nsss them y u -
iojsiy The coninuaDce Of all OF cadets
sn sSG a s .ai Of n s
Likely TO 2. made the victim OF tn. sedshn-. .rd nnug OF
han czsSs os snd esisisar eau
no. nov recall The charters gained 70 Others h directors
thai best reanre
don and " concerns closed eAry period he
Ia resident holder, should have over
the mO5sysd 5s;u Ions 10 s SLATE M, hsvs in u
di.tress aces, often Thsr
ss per e Sa1 u% 0'l ss u S0 Lem via and %
S o, 81 as ssn w ,. sos WIN hen re. s e as
Is toe crcusDg meu the state whe Der Of the pr c1us
% ssA dss 81 he s :ss Be
prohibited as far ~ the LssSh tbs su'hsry TO 10
a sa ns me VICE. .:
:sass Win y sSosoSssr. ssscal.ofs Ssc.sis
The bank Of established purpose o,
creating = FUND for internal and % AID In tie
ss ss s,SS n s sT ys. IN to have CON
pssns he sress ebscs Of cyessS 1nag ID. ssss
Sn wh s had ssen syeS Ard a. act . ps,ssd Z $50
snd he payment ne The no STATE aud
NJ sf NJ ssF i So" The &c" s ~
d; s.ss inns
s se doba b.. an sa a ss % NE me sss ns
saspnT pS he piis 4 ssns in he Soods q the
IL
s.n z.ion . :. ne essus Arising from b. ca. o,
ysii,e elsc.ns. nsgs.sc: o.
lei Srns 70 tss si.s million Of dol =. Va. ooi.a.d o.
ls,olns ,osd, q ~ s..s ss.rs. =, css, sr. ssd
pay sssSer he sani S,Sc, iq VIZ ''"'sn'a
ss s s.rs s,s rs gs
sad a C, ss Tnesr such oIc nc ao1
3. 81 ssaa a. ss
S Sass nG 81 s.nf ..s S sas s nd I
hssEd. nci EMIT DO TowiEE mon. V be reosasd asa-s
De- " .uSs SSnc. osssmss ' ''''@ 0sAs
u. essnes -ssssp be done arouss r., rassa ~ ~
The prs on discount. ard loans ma 20 The hneush such
gner,y or ,hs e1sns l,. 10 ne ooaioa q the board p
be ssss e'said ss q he
es.er hsOp.oiDs 70 before he s1sra o Of IL es.,s1
VII o~.rs enr.s ns se s1a asS =, Ss s.
The prs,sn ms seems nore is,srst- Tor The .ce pa,h
e,p,ces for ysss % cone The nrcuIsna o. IA. tsas Z
place VII Re osSs .ns Sy he sunsrou. sspia 20 IL
oserSOn and ~ loss VII be scarcely fell by the commu
past been more svor,bis the sres, Ia
eas srss. ne o.s.ors q .. ;. i . me- snspd.
., cc..s he y. bsns end III ,. made Of
toe ecmretton FOR mating the stats and
evn cfsens and -spe-sy With hos crpovsoas Ia VIII "a
has snrh oontsNs siwAgs 10
lcss u rootv vet credit 70 he state add tbs -rciIas
corsU Tor The control OF is capital oh b Ia witnessed
| o. ever genera e ecor. viii be avoided
This report Of NE President Directors, OF s.l,,
seems am'N conclusive upon the scbjsc,, well nigh
persechg the propritsy OF Offering anything I'D
diton 70 vth tbey have said. The Escessy and errs
diercy OF longer continuing the bank fiscal agent
ne treasury or oouyenienos for the peops 10 ,s'r
mol earT ArNrs, you'd seem, aer reading we aoe
pert made % The PfejeEi and D ectog Of tue bAax
Tier absurdli' ana u shsul be disponssd vlsh, aud
httebg Oh rot necuou The NaLe sud psnks be dis
soyed 10 cary On The urress or baking not Of
NE otct foy which ne saie ~s created no m,rs than
| nsa q Mto ne pg1sui OF agric1isurn or mechanics
va rot dfNsned By ID se sh1 framed tue contribution
OF The SAT- or Of he United sab States snould
become either banners OF brters money Changers 10
any sense ~ he term, oy 70 msks snvniue ten der Ia
paymem or debts txoepi gold aId silver THIS the
ency htended by TIE amers Of the Constitution o. the
Unitst sasei and Of the aaes Tor the people u may 90