Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1859-11-16
The MANS or BUILDING IT.

THE MANS or BUILDING IT.
intended to show the ability Of Memphis
to subscribe to this road, as she has done to
her other roads but the calculations ] have
made, and The other resources contemplated,
make it little likely that there will be any ne
cessitv for corporation aid in an enterprise
which will rebound so greatly 70 its interests
in an respects. Ihave shown that When she
embarked in her first road $4,000, she had a
population Of 1882, against an estimated popu-
iation now Of 3O,000-perhaps less in the city
limits proper; and that her taxable property
vas valued at about S3.000.G00, while now Il
IS estimated at about S17 100000. viii add
further, (fnom an annual report OF our most
accurate city register in 1851 that, then, the
reliable assets Of the city, enumerated BY him.
amounted to 81 ,97O,230.30, while her habili-
ties (Which were chiefly on account Of her
roads, amounted 10 5 l~,693,s52.l2. Probably
the relation Of the figures, about this time, Is
somewhat The same, excepting that the trans
fer Of her liability, on account OF her Memphis
and Charleston railroad stock Of S5O0,OOO,
has been in that amount reduced. Her assets
consist in the immensely valuable navy yard
grounds, then estimated at only S5OO,OOO
i've valuable lots occupied BY the fire depart
ment. then valged at only $4,000; seven other
lots, then valued at only S21, 500; other real
estate in and near the city, then valued at
/ $500: thus estimating her total real estate
az s624500, and Der other property, including
stocks, at s1,345, 1890. Il may be remarked
Is Of course, that her liability has increased,
but not in proportion to her taxable wealth
and the value Of her assets. Her railroad
stocks. or railroad subscriptions or Liabilities
Whatever you nay please to call them) Of
TODAY. DO not exceed the value Of her assets,
rs estimated in 1857, which were then put
down at a low figure. I give a statement;
] Wemuhi and Charleston Road.....--..-. sf00oQo-Cl
Memphis and Ohio Raad-------.-.. ELuo o.
Nem1his ant Little Rock Road-.--..--. esoooo g
! Memphis and Tennessee Raad------.-.- 2J10o0
sLsT7oo0 O
SIS go .
Leaving this amount Of assets over railroad
] liabilities, but deduct the first amount Of la
bility (that transferred as aboye,) hom tbs
total sun above, and the amount Of railroad
liability to-day, substantially, Is only Slr5zI,-
90. being S643, 230.30 less than the assets Of
the city as estimated in 1851. But il must b,
taken into account that all property has en-
HANGED very greatly; and il must also be taker
into the account, in estimating the real wealth
and property OF the city, that the above figures
do not include the public squares and prone.
nades Of the city that are Of immense value
worth more than all the rest Of her assets, a
cherished property which, in al probability
] she VIII never OF HuCAlG never blIItAAtI OF pau
from. though subject 10 her disposition, with
the consent Of the corporators. Altogether
then. comparing her population and assets, shi
Is not only solvent and rich, but probably th'
weaIthiest municipal corporation In the Union
And in connection with all this, see the i'm.
mense annual increase of her revenue or sub.
ieets Of taxation. See The influx Of wealth, O.
population, the growth Of trade, the multlpii
cation Of an the elements that enlarge the is
49, - Canm. H. - -.
mere matter Of subscription 10 this road wer
concerned, in view Of her time bonds. if woull
be a tribe in the matter Of winding up herrail
road system, IL she took the whole amount
Why, before her bonds could mature. al hal
Der present rate Of progress, she would likell
be a city numbering not only her tens bu
t~Fentiss Of thousands, with pecuniary capac
ity corresponding. and her present indebted
ness be a mere consideration And at tn
same time it must be remembered that thi
railroad liability may be disposed Of long be
fore then, as was that she was under on &C
count Of the Memphis and Charleston road, o
be worth not only dollar for dollar but a pre-
MUM. For such a city, WITH such an amour
Of property, and having such prospects as this
T her present time-indebtedness is Insignificant
I deal in figures.
Below is given a statement for rejecting
calculating men, as I get it from the City Reg
/ isrer, showing me increase OF LdAdOie plopeEL
in the city limits, from year to year, sine
1851. II IS reliable date, on which to build 0
estimate the prospects Of the future, and whic
1 think indicates a progress not only rapid bu
healthy and vigorous +;
ne CITY Assessments we're fer The 24fh
Cdrrarais Year, eniing June 20. 1851 : 4,60o,oO0
%. lsa...-..---.~-....-.. Bp5ooo {
30 Observation-Disclosures. su@o q
so' is5G.N."~~-..-~.-.. 7,Iss,s4s
For the ash Corporate Year, rlains June
90. er-rosto9 {
i For he a1h Corporate Tesr, ending June
a.. ha1uol2 I
For the sob Corporate Year ending June
30. NsA--ftap
POI fha sIst Cororute fesr, ending Jrne
%. INtl-NNt Z
Ala b. hls. Tor ne Corporate Year, ems
inT July I, Hr1olu8 Z
Afd. for the Year ending IN 1885,, ftls
estimated iANvViV9
"a