The Nashville daily union. [volume] (Nashville, Tenn.) 1862-1866, 1865-10-25
TENNESSEE LEGISLATURE.


presented 70 Major General Gsorre II
Thomas and the officers and soldiers under
ms command for his wise snd spirited aud
their ave and patriotic conduct in the BAT
tie Of Nashville, in defence Of the Capital Of
the State in Decembe-, 1854, and that 2
Gold Medal be struck in commemoration Of
the great and decisive event, snd be present
ed 70 him that the medal exhibit on the
one side head Of Major General Thomas in
profile, with She inscription around TITO 1
MAJOR General George H. Thomas, from the 1
state Of Tennessee" and on the other side /
the State Capital building, with other appro-
pirate inscriptions that the Governor Of the !
state Of Tennessee cause and procure this I
Gold Medal 10 be struck al as early.a dav a. 7
pra -tieable, aid present the same 70 Major /
tIeneral Thomas With letter of thanks in |
the name OF this General Assembly and The I
people Of the State Of Tennessee. Unani- |
In0usly adopted.
The following message was received from |
the Governor:
sIATE OF TESS., ExEcUTITE DIR.
NASHVILLE, October p, 1865
CeafleMen Of the Senate and House Of
RePresenfafiUes- f
In my late Message, I advised that the
Railroad Companies Of the'sta be required
70 pay their interest on debts due upon
Bonds issusi and endorsed for heir benefit.
further advised you that there is now due
upon Railroad Bonds lolned 70 the different
Railroad ComPsnies IN the State s. ,T6g SOC
This is the intere now due upon the bonds
endorsed by the State for the Railroad m
psnies, amounting 10 SI6,2ll 600 This is a
subject Of vital inipostanes 70 the people Of
the State, and since the issuance Of my Mes
sage / have given il much consideration,
ane have availed myself ofthe best sources
Of Information.
an noE satisfied that It will be utterly
| impossible for most Of the companies 10 pay
the interest on The endorsed bonds Of the
State, asd he roads viii pass into the hands
/ Of Receivers unless the State provides for
the payment Of he Interest now due. In
word. # the payment OF this Interest Is not
! provided for, nearly every road in the State
! VIII 10 under. The frss effect Of this will
| be 10 sweep from the thou ands Of stock
| holders all they bave expended in building
these roads. Should the State attempt TO
run them there viii be tfavagance, waste,
i swindling and general corruption, and the
/ State viii have % issue several millions Of
| bonds in that exent, or tax the people be-
| yond endurance 10 raise the money 70 meet
this interest and 10 put these roads in order.
| IL the State should sell these roads they
would be purchased by a combination o.
lspsculators from abroad, who viii mauege
them for their own benefit, without any re-
gard for the honest and public spirited peO-
pie who built them.
They would sell for less than half their
real value, aud finally leave the State 70
pay the bonds or q larger part Of them,
which result is the most that csu happen 10
the State II the roads sre left in the hands
Of the companies.
What then is The best policy 10 adopt, and
how shat the State meet the issue I 70
specially suggest that the State issue three
/ r. ~ u j
| seven, eight and ten years, the first pay
men3 Of the interest to commence in July
next. Let them be given in payment Of in
terests nov due, upon condition that they
are taken at par.
IL the Legislature shall think proper, let
them be sold on similar conditions and the
proceeds applied 20 the payment Of the in
ierost on 81 outstanding bonds, and let there
| be a further lien in favor Of the State on
each road for the sum paid for its benefit.
The FIRST effect Of this viii be 10 bring the
b nds Of the State up 30 par value immedi-
aielv, aud % place the credit aud infcqrifv
Of the state above suspicion. our people
arc honest, and will submit % tsxati0n al
most beyond endurance "a her than be dis
graced by the brsnd Of repudiafi0H. The
second ehert. however, would be 20 relieve
, the people Of the heavy taxation now i'm
+ posed on them, and hereafter 10 be imposed
. 1 on them, 30 meet the interest for which the
State is liable. In the future, wheE the
! people recover from the dsyustations Of war,
they can pay two dollars easier than they
can one al present. The third feet will be
70 save the railroads TO the stockholders.
Theye j aud will meet the current interest
as il arises, but they eannot meet it and the
back interest. They can, alse, ia the end,
pas OF the honds as they mature, or before
hand, by citing aside So much Of q sinking
fund with which 10 buy in their bonds.
Finally, il vii save the Stale from All Gp-
pfarnce Of rcpudiati0H. for II the State
| now refuse 20 pay the interest due upon hsr
bonds, which have been endorsed by her,
| aud sold upon her credit, It viii be called
reDudiati0n, let her motives be what they
may The credit OF the State viii be gone,
an gone forever, Snd this mast not be
a lowed. Let as ma1ntsiu our credit, honor
I ard inlegr 4 at 81 hazerds.
Whilst upon the sub,ect Of Railroads,
sllow me 10 say that law should al once
be enncted providing for the punishment Of
amy and all parties condgciing ,ail Dads IN
G | this STA e, snjoy ing the circuit Of the state,
n who are discrim mating IN ireights 80 a. 10
. / favor the cities of other states, 20 the pre-
iudice and injury OF the large towns o. our
. smlr. such abuses should be met By
- prompt legi-iation.
There IS IN the future, a wonderful pros b
/ perity before f, when cur Re pie and roads
2 can pay q the State debi, wit scarcely an
e efiori provided We have the necessary
o legislation nov. in this, their hour Of need.
Give the roads time, aid them nov, and ig
- rnd, the Stats wall net lose dollar.
? These ars n.t only my We've, but the Yiegs
Of eFe-y ntelligs nt man with q om ! have
cunyers a Wa. :. BEaWSLOw.
1, Mr. Bowen introduced Senate Bill No l6i
fer the removal Of couri-bouses and county
? jails, Vhen too dilapidated for use. Psssed
e drst reading,
4 House Bill No. l5a, 60 charter and iucor-
porafe tue Middle Greek academies, ia Sc
vier COUNTY. Pissed first readng.
House Bil No. 30, TO incorporate the
7 Jackson Coal, OIL end salt Company.
4 House Bin No. l55, prohibiting the sale Of
spirtuous liquors within tao miles OF Cor
p nersville, Giles county, OF within Us corpor-
- ATE limits. Passed first read ng.
q Senate Bill No. l46, 10 incorporate the
Rock City Oh and Mining Company. Passed
third reading.
n Senate Bill No. l52 10 Incorporate the
r. Ocoee Marble Slate and Mining Company.
Passed third residing.
Senate Bin Ne. ls5, % incorporate the
Caney Fork OIL and Mining Company
=, Passed third reading.
.e Adjourned tiil 10 o'clock a. m.