The Union flag. [volume] (Jonesborough, Tenn.) 1865-187?, 1865-11-03
The Legislature.

up in the House on Tuesday last. In
the Senate the following resolution
was passed:
Resolved by the General Assembly
of the Stale of Tennessee, That the
thanks of this General Assembly, in
their own name and in the name of
the State of Tennessee, be presented
to Major General George H. Thomas
and the officers and soldiers under his
command. for his wise and spirited,
and their brave and patriotic conduct
in the battle of Nashville in defense
of the capital of the State of Tennos-
see, in December, 1864, and that a
gold medal be struck in commenda.
ton Of the great and decisive event,
and be presented to him. That the
medal exhibit on the outside head of
Major General Thomas in profile,
with the inscription around it to
Major General Geo, H Thomas, from
the State of Tennessee" and on the
other side, the State Capitol building,
with other appropriate inscriptions;
that the Government of the State of
Tennessee cause and procure this
gold medal to be struck at rs early
day as practicable, and present to
General Thomas, with letter of
thanks. in the name of this General
Assembly and the people of the State
of Tennessee.
A message was received from the
Governor in regard to the interest
due by the railroads of the State on
their bonds. The Governor says:
am now satisfied that it will be ut.
terly impossible for most of the com
panics to pay the interest on the in
dorsed bonds Of the State, and the re-
suit will be that several important
roads will pass into the hands OF re.
ceivers. unless the State provides for
payment of interest now due In u
word, if this interest is not provid-
ed for, nearly every road in the
State will go under Tho first effect
OF this will be to sweep from the
thousands of Stockholders all they
have expended in building these roads
Should the State attempt TO run item,
there will be extravaganza, waste,
swindling aud general corruption and
the State will have to issue several
millions Of bonds in that event. or tax,
the people beyond endurance to raise
the money TO meet this interest, and
to put these roads in order. If tho
State should sell these roads, they
would be purchased 10y II combina-
ton of spectators from abroad who
will mauage them for heir own benefit
without any regard for the honest and
public spirited people who benefit
them.
They would sell for less than half
their value, and finally leave the State
To pay their bonds, or large part Of
them, which result is the worst that
can happv, to the State if the roads
are left in the hands of the companies
What, then, is the best policy to
adopt, and how shall the State meet
the issue? respectfully suggest that
the State issue three or four millions
more Of bonds to ran six, seven, eight
aud ten years, the first payment Of
Interest to commence in July next.
Let them be given in payment Of in
terest now due, upon condition that
they are Ia ken at par
If the Legislature shall think prop
err let them he sold on similar condi.
ton, and the proceeds applied to tho
payment Of the interest on all out.
standing bonds, and let there b. n
further line in favor OF the State on
each road for the sum paid for its
benefit The first effect of this will
be to bring the bonds Of the State up
to par value Immediately, and to place
the credit and integrity Of the State
above suspicion Ourpeoplc are hon.
est, and will submit TO taxation almost
beyond endurance rather than be dis.
graced by the brand Of reputation.
The second effect, however, would DO
to relieve the people Of the heavy tax.
alton now imposed on them, and
hereafter to be imposed on them, to
meet the interests for which tho State
isliabIc In the future, when the people
recover from the devastations Of war,
they can pay two dollars easier than
they can pay one at present Tho
third effect will be to save our rail.
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