Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1859-10-28
-nni. 70 vo,e On II. constitutional ground Of in

his position ana that the proposition for attorneys
did ot come from him at all. and he had no opjee-
ton TO Withdrawing his vote. I.
Ar Minais' vote was accordingly stricken from c
the roll and the vote then remained, ln the amrm-
alive 10, and in the negative 10 30 sne moAsn
did not prevail
The amendment was then adopted, and the resO-
luton, as amended, passed.
kmvSDmEEr or rms CONSTITUTION.
Mr.. STANTON (by leave) withdrew his resolution
foffered some days sinee to amend the Oonsu1usion
20 as to ALLOW each county in the State st least on
Representative.
TAXING MIssRs
Senate bin No AZ, to require misers to pay taxes
on rnonevs NOT Invested, having been read,
NJ BIJ4lPAsS said he did not exactly under
stand what vas rsent by the term mser, as useu IN
the BILL and he would move TO strike cut nllSer anu
insert citizen, which m1tion prevailed
The Question recurring upon the adoption OF the
bill ss amended, .u MI
NJ PAYNE said he was opposed to the bill lie
doubted the policy Of taxing men VINO nau null. ~.
| laid up. The principle of taxing people upon ING
rooev they had aoarled up, he conceived to De en-
| ,i-alv ,ro1g The Legislature has said, that men
Who have money 20 loan out shalt make notolng' OF
~ lsast vstv Tftle BY ioa0ing it. As the law nov
Sands the uete-shaver and the pfeKer are lsss9p
iug upon the borrower, because the Legislature mas
inierdicted free trade in money. 1hey essts
resard The lsw which prohibits the loanlhg o. Onsy
- shighsr rate of interest than six per cent, snd
!. . fr the law enables them to grow
rich noon the necessities OF the borrower, Wno ean-
not obtain the money necessary TO carry on ms DIS
mess AZ the legal rate. IL WAS wrong " soy " sD
~ ra,y ond then lax him if he does mt loan H.
/ II - ,.5,e he might loan it Rt SIX per cent, out
Il ,v;iI not Weld him that amount, because he
Il has To nav a tax upon the money thus loaned.
/ The system Of legislation here otore pursued IN
tbt 500 in regard to money as an article OF COM
L =, tandAocy to drive capit9l cut OF
/ an safe 10 seek a more profitable market
4 oIsawhe-e Inouiry in regard to the matter had
v.tis6ss him that from So 900 200 TO SeVOo,Vuo Oh
tennessee capital was Invested IN otner otstes'
i where more lib raj policy t9uening the mater
t ~ iptereet was pursued. bouislsns MISSES
n ;n-; Nisseuri. ard other States around us, have
It onsned NJ merkets for the profitable INVESTMENT o,
a oenitaI. ana it would seek such markets He had
l. been oredibly informed that at least S2,VUu,uVo
n Of Davidson county capital was loaned IN the CLUES
Of New Orleans and St. Louis, because money was
N y-crth more in these cities than it was here ID
70 Nssbzile lie considered it wrong to fix the price
y NJ The money The Legislature might, with equs
y proprety f the price of land negroes, or anything
else citizen of the State possessed aud which ne
- 6asired 70 sell Men who respect the law who vii
= not violate it by loanng money alta higher rat'
Il than six per cent will send il OF to marKe
n where it will command higher price. gres
IS many farmers boarded up their money because incl
have no agents at those points whers 1t Will com
mand remuuerative price, and they adops tni
course in preference TO violating the law.
The tendency of legislation in this State has oeel
to fatten the note-shaver and the broker I'M
noliey should be changed, ard such policy sdop'
oy I'd as will induce our people to Keep their money
home By allowing men who have money 10 l9an
to put il out at living rate, capital when Is 10
sc king market elsewere will hnd investment
no home, and greater degree of prosperity tnan ma
rs ever been witnessed among will be the resui
u He hooed that the bill would be defeated, as IL wa
extending the policy Of not allowing man 70 lsN
D. anything by loAning his money, and then IaAln
him if he did not loan it. GU
tie Ar STANTON said: The Senator from Sheib
nk fMr Payne) opposes this bill because Legislature
re- have heretofore imposed taxes upon loaned cal
ital aud because he thinks that the leglssnou
"a this Sac is tending in the wrong line oil pOncy
a. that it cripples money accom- Jdation Mhle
ge agree With the Senator that the imposition Oh lax
ton on loaned money may have that tendency
as some ex ent certainly that is no good reason WI
's the owner OF msney uHnvested should Dot DC TAKE
TO Because the mau who has been clever enough
rs loan his money his oppressed nelgh0or mas oee
taxed for his sccommodai ion and kindness, Is IN
ra suv reason that he who has not been thus seeom
sal dating to the public should not be taIedI Ihe
ee oislature has said TO the money holder SIR, y
loan YOUR money cut We will tax you for IT.. We
the money holder may say, will not loan IL 'ne
will keep it within my vaults. Now my OIL 50
of TO him. IL you keopit within your vaults we
+, tax you aleo; so you had just well loan 1t out
etc there shall least be indacement against yo
,e,- loauing H. for will put you upon equshy WI
ia those who do loan. As long as We have imposed
hal | tax upon the man who has opened his hearI 3
va loaned his money 10 his oppressed neigaoor' a
saved his property from the sacrihelrg s'roke
the heavy and imperative hammer OF the colecl
,Iu officer / am strongly in favor Of taxing HIN
has been less accommodating, less sympathetic
iae less liberal. The man who, with olosled pur
nm has stood by sad seen his neighbors properly stru
1 hsrli volua and
clad woman aud children, and even the fatherl
nd orphap turned into the cold shees of starvatli
when by a single act Of liberality-oy single
mise of humanity-he could have stretched to
his hand and averted the disaster Is the last
Z on that desire to favor by legislation. But DO
desire TO lay the hand Of burden more heavily VI
g Of him than is fair aud just l wish simply thst
ass shall at least be subject to the same amount OF
- den THAI is imposed upon the lender VINO 1lspi
'o' the better part Of usefulness 70 society anu W
anu country.
Unaer the present law you tax negroes whose
rIoH bor is exertei on farms which also taxaole
withstanding tho result Of that labor ana Oh
YES farm spreads produce and plenty al over tn9 co
try-sends bread to the hungry orphan and rapi
,ion ishes the markets. Aud you tax the money los
~ whose accommodations strengthen the energies
an commerce aud alleviate the fortunes OF peounlary
Give thrslmen-giyes impetus to enterprise ana CO
nj of age to of industry and merit VINO are NOT o
ed with fortunes Inherited; but 10 'ne HI
bofl VII
maid boxes there to await some financial reVaision wi
F1 thew NAV be brouy ht forth to prey upon sserih
> - nropertv at perhSps one-tkird its value, you
sit said sit still by your heavy VauH-hoiu on 70
tive neck Of your blosted purse and De thou sse In
80; | security for if you should crawl out with y
80 nurse we will make the assessor seek your scquI
dont lance If perchance the current Of commerce
;ti6n | trade should disturb your dreams OF inert
and clusicn and summon you to the fields Of INV
r. ment and usefulness to society, stay securely vii
idea your closet and nod over your rusty ooiSS' ~
do in Won venture out the fields Of business, you
.oeos meet the tax assessor. So you will MAKE
II re- save money by staying at home My pohcy is to
ra the assessor into his dungeon and drive HIM cut
iDcp, to life with his capital and let him beneht Il
and kind As it is now, you allow the assessor 70
rect proach the lady and enquire after her Jeweiry
dr count her knives aud folks If they are Of the
On Of cious metals while at the same time her hush
a,is may have his thousands of dollars within his
q M vault watch cannot be inquired after
is a But tie Senator from Shelby, says that Y
nrs the money is doing him good, he ought not
Mr. pay taxes on H. Now did you ever ne,f su1 "a
SEN argument? Can't he make it do him good y
into he ln it and get the interest minus the small
tion- centums of taxation? Why We are required TO
,oud taxes on lands not in cultivation aad not yie
not us profits; is it hard then for the capitalist
10 the pay tax that which he might convert 20 use
a M any time? But the Senator from Shelby say
ionoJ will have tendency TO drive such capital out OF
OK State and taus deplee the currency OF that med
that Of trade? Do you pretend to argue that to dri
,t fo from the vault of the mser will be driving 1t
TONS circulation 1t had well be in Europe as IN
c;do pocket of man who withholds it from circula
o,e SO far as the public interest is concerned But
sttn- Senator from Shelby says that it will drive 1t
,f of the brokers' shops Why so? 1t will be taxed
thai under this bill, and what inducement to carr
emon there's This bill simply taxes all amounts of MT
over $3.50 provided it is not kept on hand for
fac payment Of outstanding debts which is to be e
,entr BY the oath Of the capitalists and it exempts
= are lie eff ,ers who have money on hand not yet
e are over.
ms IN Mr.. PAYNE said the Senator from Jacks on
most Stanton) misunderstood his argument in refes
pdeT- to lard and negroes. He said the hegsla
these might as well fix the price of those articles
ones money. 1t was the fixing the price below tina
incad other m4rkes that would drive capital from
nm s, ate New Orleans and St. Louis offer four
h the cent more for money than the law allows m
N, At take in this Slate aud hence he contended tina
policy of Tennessee legislation vas to drive O.
.ttdto from this State, or into the hands OF the
shavers ana brokers' or it is permitted to rel
n na- idle in the hands of its owners.
81; O ma ia q miaeF becau