Clarksville weekly chronicle. [volume] (Clarksville, Tenn.) 1865-1867, 1865-10-27
THE TENNESSEE LEGISLATURE
SENATE-TurspAy, Ocs. ~.
MESSAGE FROM THE GOVERNOR.

i ann WV n"Nvn'
Inc iolioWing message was received from the
Governor and read
Se"" " tennessee, Exeeutive DEPARTMENT.
Nashville, Oct. "a, 1865.
1enuemen OF the Senate and House Of Repre-
sentatives; In my late message, advised that the
railroad companies OF the State be required to pay
their interest ON debts due upon bomb issued and
endorsed for their benefit. further advised you
there IS now due upon railroad bonds loaned to the
oinerent railroad companies In the State So 1853 500
This is the interest now duo upon the bonds In
dorsed by the State for the railroad companies
amounting to $lS2ll.OOO> This is subject Of
vital Importance to the people OF the State, and
since the issuance Of my message, have gwen il
much consideration, and have avAiled myself Of
the best sources Of information.
lam now satisfied that 1t will be utterly impessi-
Bile for most OF the companies TO pay the State and
the result will be that several important roads will
pass into the hands Of receivers unless the State
provides for che payment Of interest now due. In
word, If this interest Is not provided for nearly
every road in the State will 60 under. The first
effect Of this will be to sweep FROM the thousands
Of stockholders. all they have expended in build
ing these roads. Should the State attempt to run
them, there win be extravaganza, waste, swindling
and general corruption, and the State will have TO
issue several millions Of bonds in that event. or tar
the people beyond endurance to raise the money to
meet this interest and to put these roads in order If
the State should sell these roads they would be
purchased by combination of spectators from
abroad, who will manage them for their own bene-
Mt without any regard for the honest and public
spirited people who benefit them.
! They would sell for less than haif their vahAe,
and nnaly leave the State 70 pay their bonds, or
large part OF them which result is the worst that
can happen to the State II the roads are len in the
hands or inc companies.
WHAT snen, Is the best policy to adopt and how
SHAH the State meet the issue2 respectfully sug-
gest that the State issue bonds to run sir, seven,
egnt ana ten years the rst payment OF interest 70
commence In July next. Let them be given in
payment OF interest now due, upon condition that
tney are TAKEN at par.
4 IL tne Legislature shall think proper, let them
oe soid on similar conditions, and the proceeds ap-
piec TO the payment OF the interest on sn out
standing bonds, and let there be q further lien 10
favor OF the state on each road for the sum paid os
It's dement, The hrst 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. Our people are honest and will
submit 70 taxaaeH almost beyond endurance rather
than be disgraced by the brand of repaalation.-
? The second effect however, would be to relieve
the people ofthe tSfaton!now imposed on them, and
hereafter to be imposed on them to meet the inter-
ests for which the State is liable. In the future,
when the people recover from the eevastatons Of
war; they can pay two dollars easiefthan they can
one at present The third effect WILDE to save our