The daily clarion. [volume] (Meridian, Miss.) 1863-1866, 1864-03-30

Aie APpiirai len OF adequate means OF
uitiioate payment. Spasmodic efforts.
by oDerous taxation by which properly
AMI industry are overTburtheued sand
driven from the country. are des'ruc-
tive of their credit. Non payment Of
The principal al the time when it is due
or even Of tle interest, will not cause
loss OF confidence Il the circums;ances
are unusual. soca as the eesuyatiou of
part Of the territory by ar enemy, by
reason OF Which the levy and collection
Of taxes cannot b, eF-ctel or such 20.
litical or financial revolutions as wouid
mike tie pnDc;ual payment cf them
impossible, without 90 over burthenin2
property and industr, as to destrog the
very sources Of revenue.
In regard 70 our own finances. re-
commcGd lhe continued suspension Of
the specie tax and that no more taxes
be raised than snfii,iens to pay the in
terest of the p"b,ic debt and the cur
rent expenses of the Government. ani
leave to the time Of peace the provision
for the principal If the military es.
tablishment IS reduced as hereinafter
recommended. [ bcliove that less than
two millions of dollars will be sufficient
for theplyment Of the outstondirgslia,
bilities of the State oa account Of mill.
tarv expenses, and provide for the snD-
port of the State forces and civil GOV.
erument, and meet all appropriations
duriug the present year To meet this
| advise n further issue Of treasury
notes !un1abie in G per cent coupon
bonds at twenty years, redeemable Ut
The pleasure Of the State, the interest
payable annually. The c2upons,s should
be receivable ia payment of all public
dnes EXCEPT the tax for The payment OF
the convention notes. Such ameant ot
the annuaIra should be specially ap-
propriated as may be necessary TO pay
he annuGl interest ~ tie whole debt. -
The h,liers Of The State treasury notes
are by Law entitled 10 fund them in eight
per ecu. bonds These bonds will soon
DO prepared. When Issued .hey will be
subject to taxation hy the State. They
wilt DC without coupons. and the inieress
will be payable at tie Treasury oa,y-I
| believe that 6 per cent. coupon bonds
may be issued, which may DC made
more acceptable than the eight per cents,
and | recommend that you authorize
the issuanc, of such bonds to al am.
cunt sufficient to fund all treasury
notes heretofore issued, or which you
may autho,,zs to 90. issued These
bonds should be exempt from taxation
This exemption being part Of the con,
tract clnnot be repealed The coupons
should be receivable in payment Of all
public dues. and to insure their pt
payment it presented ut the treasury,
portion of the revenue sufficient for
that purpose should be specially set
aside end appropriated
In order that the bonds mayb BE uni
form and the coupons 1ayab e on the
same day, the bonds sho1d be dated
onthe first Of August, that being he
day OF payment Tor the collectors, and
to enable the holders TO use the cou.
pons or payment of taxes the cou.
ponA should be recoverable three
mon,hs'before their maturity in pay'
ment of public dues With SUI L al.
vdntages | believe that these bonds
would be more desirable securities
than the six per cent Confederate
bonds, but as some holders might pre-.
fer the latter, they should have the
privilege OF exrhanoing the State.
bonds for such Confederate bonds as
the Stale may receive for her ConTcd.
crate notes. To further encourage.
The filniing Of all State notes. | lecosns
mend that on all deposits Of notes fsfI
finding, interest shall be allowed lnlilcl
late Of The bond that's on he lcn per
cent notes, al thfIr interesi OF len per
cent on1 IN fho rshor .,,RS,.,.Iiro