Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1857-06-27
REPORT

To the Mayor and Aldermen Of the City Of Nashville
The Committee on Finance think it important
previous to introducing the tax bill, to present to
the Board their reasons for proposing increase of
the taxes. and to place before them the probable de-
mands upon the Treasury up to the first Of July,
1858.
1t viii be recoIected that the improvement upon
the Water Works was called for from all parts Of the
city and the necessity Of them was apparent to ev-
cry one.
At the time the bill was passed authorising those
improvements il was confidently expected that the
bonds of the city could be disposed Of such rea-
sOnable rates, and for sufficient sum TO complete
them without making an immediate call upon the
citizens by direct taxation The Committee regret
that they ar compelled to say, that il has been
found wholly impossible to sell the bonds except at
rate that would be ruiuous TO the finances Of the
city, and your committee were reluctantly compelled
to give up that mode Of raising money. We are
therefore brought to the point to determine, either
TO suspend the Improvement for the present, or to
Increase the rate Of JaxatiOn.
The first alternative cannot be thought Of for
moment, as q considerable amount Of money has
already been expended; contract has been made
for making the pipe some Of which have been de-
Hvered and contract has also been made for the
raising and embanking the reservoirs.
The Committee therefore confidently trust that the
citizens will cheerfully come forward and pay the
additional taxes which to be raised for only two
years. and which will furnish a sufficient to
complete the improvements without increasing the
debt Of the city.
From a statement prepared by the Treasurer 1t
appears that the amount of cash liabilities notes.
&c, that are now due, and will fall due up 70 the
first of July, 1853. amounts to S12,25l 80
Amount esteemed necessary to complete
Water Works improvement, $1,000 90
Int. on Corporation bonds, 39,3OO,OO
Ordinary expenses Of Corporation for
streets, police, gas, salaries, &c. $4,000 90
Making the sum required for the expen-
ses Of the year, S2ll,555 %
The amount Of the assessed value Of the real and
personal estate of the city for the present year Is
about 81, 100000.
The Committee propose TO asses the taxes for cor
poration purposes at the rate Of ten mills and one
half in the dollar, and for school purposes to two
mills in the dollar, which makes l2B mills in the
dollar the rate for last year being ten mills in the
dollar and they also propose to increase the water
tax at the same rate, say Is per cent.
This will produce for Corporation pur-
poses about the sum of $4,000
The water tax about, 2J,OUO
Estimated collections by the Recorder, 10000
do. dividend in Dec. n. C r. r. $4,000
From miscellaneous sources, lzOOO
Sl95,OOO
This will leave an apparent deficiency Of Sl6,55l,-
SIS but as there are always a large amount Of ap-
propriations that are postponed, and many claims
against the treasury that are not presented for pay
meut within the wear. the committee do not think
that any difficulty need be apprehended in supplying
the means for the deficiency.
The Committee have thought il TO be their duty
to make this explanatory statement which they
trust will be satisfactory to the Board and the ciu
Zens generally.
W. A. GLENN,
DAVID c. LOVE.