Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1861-10-02
S6s7 Ol
:. n. THOMAS,
Street Commissioner.
CONTROLLERS OFFICE, I
MEMPHIS. October 1. 1851. I

CONTROLLERS OFFICE, I
MEMPHIS, October /, 1861.
To .as H9a Beard Of uoyu end Aldermen d tie ciyer
MeHphs-
GENTLEMEN; The accounts Of assessors and
clerks, referred to me, have been adjusted as
follows
j. Park and J. T. Trezevaut, for -
days' service oach-------.-------- Sl3259
G. W. Lincoln and w. H. Taylor, for
- DAYS scrvicc----------------- Ib6.2l
J. 3. Locke, for - days service.----- 65.S5
4. ID. Gibson. for 50 days seryice----- 1915
II viii he observed that this adjustment is
based upon the number Of days' seTUice performed
by each individual, a. it was impossible for me
To Judge of the raias of each ones service. The
amounts have been placed TO the credit of each
respectively,
I will take the liberty Of suggesting to the
Board the p~ropriety of asking the Legislature
for the privilege Of issuing treasury warrants, OF
the denominations of $40, $50, $50, and 500,
bearing interest at the rate of six per eeutum,
until paid-to be paid out in redemption OF the
present due debt OF the city, and to be received
iv the city in payment Of all dues.
The bills payable, exclusive of those issued
for city defense, now outstanding, amount TO
| S3B7, 900. the holders of a large portion of which
would prefer having the liability in the shape
suggested. The advantage in changing the
1 form of the debt would be in releasing the en-
dorsers to the extent Of the warrants issued III
enabling YOU 70 rcduce vour liability more rap
idly bv reason Of a large amount being distrib-
uted in small sums in the hands of a great many
more tax PAYERS and if the banks could he
prevailed upon to receive and pay out your
treasury warrants, (Which privilege would per
hans be granted them by the legislature the
whole amount Of your outstanding notes would
soon be in a shape that would greatly relieve
the holders and, Instead of being, as az pres
en-, tied up-not only useless, but absolutely q
very great incumbrance, both to the holders and
endorsers-would become useful and beneficial
! to lhc community as a circulating medium, th,
security for the ultimate payment of which j:
not possessed in higher degree BY any bsnl
in the State for it, own liabilities. Whether o.
not the banks Of Memphis win receive and pay
ont these warrants is a question, of course, 10 b'
decided by their director, but, with the sane
ton Of the Legislature, there are many reason
why they should, and one Is, the unquastonahl'
character Of the security for the ultimate pay
ment Of al liabilities Of the city, the courts o
the county having decided that the who'll
amount of the real estate in the corporate limit
is bound for the debts Of the city.
As all your notes are endorsed by one or NOR
: of the best business men, it would relieve then
y Of the odium of protest, and greatly facilitate
4 many of their business operations.
The amount of bills payable, exclusive Of ii.
D war debt, which Is provided for, is now 1897 ,0OO
= At the beginning Of the 3ith corporate yea
, the amount was S43I, 600; showing a decrease
at this time, Of SI3I,000, notwithstanding tn
expenses Of the city government for the last COZ
porate year were greater than for any prevlou
q year; besides, the appropriations for improve
meuts were much larger than they are likely +
be this year, while the expenses for the city gov
eminent proper viii be very materially reduced
5 thereby enabling you, from these Tetrenchments
, to apply SO much more Of your receipts to tn
payment Of your debt.
Besides the revenue arising from the Office 0
Recorder, from privileges, from the wharf ant
= navy yard, there IS the entire assessment Of taXo
for The 35th corporate year, amounting to
S210,00t
Unpaid taxes for the 34th corporate year,
amounting $1,000
Unpaid taxes for The sd and SD corpo-
rate years, amounting o..---.---.-. SO,oe