Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1861-01-24

pay is dividends into the Treasury and a..
legislature VIII not suspend the prJnnt coIIac+;
OF the revenue, anu that the balances drs lii ~
pad the ordinary revenue to be collected oy,b, -
meet the existing and current expenses AZ a. 60.
1t is true, the revenue for the present go ~,
less than for the last as under the finan,I N NC
litical troubles impending over u.s. the asse ~.u
the value OF taxable property Of the Sta.a M; ~
below that Tor is6u which was 1891 0g2 SIT ara
to that extent, will diminish the revenue 10
lected There will also be further probsbTo Ool-
duction from taxesgl imported goods ie
But should there be deficiency of revanra ..
meet existing and current engagements Of the S,ats
before the next meeting Of the Legislature. The
Bank Of Tennessee, by q sort Of common law and
as the State is usually heavy depositor always
honors the checks Of the Treasurer and has assured
the Executive officers il will continue to do So II
however. extraordinary expentures or appropria
tons are made during the present session. the Legs-
lature WILL no doubt, levy a tax or order loan or
provide other means to meet them.
The Edgefeld and Kentucky and the Winchester
and Alabama, two short railroads. unfinished in
their connections to their original termini have
failed to meet their January interest They are now
IN the hands of Receivers appointed by the Govern
or, for the benefit Of the State Under section 1I06
of the Code, | drew upon the Treasurer to pay the
interest for each OF them; for the first including
exehasge, S23 lS015 and fer the last also including
exchange, $l3 1890. have also been notified that
the January interest has not been met upon the
State for the benefit Of the Memphis and Little Rock
Railroad. have directed the interest upon them
TO be paid in the city Of New York: interest and
exchange amounting to sI06e5.
II all the railroads in the State fail to meet their
nextJuly interest, it is net presumed the Treasury
would have the means 20 meet it; but if so improb-
able contingency occur, the State would take
charge'of the roads and should draw. under sec
ton il06, upon the Treasury and the Bank of Ten
nessee, without doubt, would furnish the money
trusting to tire Legislature in October to protect it
and tle honor of the State. The interest due next
July upon 900 OF Bonds loaned to railroads
will be 1865 80; if to this be added the interest DIN
then upon the s2,354,000 Of Bonds endorsed by tie
State for railroads, the whole amount would be
S4js,Il0. have heard nc spprehensiOns expressed
that the longer and finished roads would fail to meet
Their interest but should they do So do not doubt
the State would promptly pay it.
Very respectfully, Ut DUNLAP
communication was referred to the Committee on
Ways and Means.
NEW BILL.
The following bill was introduced, read the first
time and passed.
By Mr.. HEBB No. 39-To repeal so much of the
act OF February -. 1860, grants charter to the
Fayetteville and Alabama Turnpike Company.
. HOUSE BILLS oS SECOND READING.
No. ga bill that VIII greatly relieve the people
if passed into law Passed.
No. 31-TO repeal the sixth section, chapter I25,
OF the act of March Is, 1860. Passed.
UNFINIsHED B0snEss-THE MILITARY
The House resumed the unfinished business, be-
ing the bill TO reorgsnise the militia.
Various amendments were disposed of, either by
adoption rejection, but without coming to a vote
on the main question,
On motion Of Mr. PICKETT, the House adjourned
to ten o'clock to tomorrow morning.