Daily union and American. [volume] (Nashville, Tenn.) 1865-1866, 1866-04-19
TENNESSEE STATE ncNps.


Having repubIished yesterday para
graph from the Union Of the day before, in
reference 10 the manner of signing the
bonds of the State, and offered some addi-
tional suggestions, we publish the subjoined
reply from Secretary FLETCHER. We are
willing to exert our greatest influence to
sustain the credit of the State and are as
far from depreciating the value Of Tennessee
bonds as any others can be. To do this sue
cessfully, the purchasers must have assurance
that the bonds are genuine, and that the
State is able and willing to pay them at
maturity. The Secretary states that there
are to be issued S8,OOO,OOO, in sums of
$1,000. The filling up, dating and number
ing the bonds is a mere clerical act and can
be done by any one; but the signature
stamps its authority and evidences its gen.
uineness. These should never he dispensed
with, when by any possibility it can be
avoided. Mr.. FLETCHER says:
There can be no difference in the validity of the
when made by another by his order and direc
ton. And 80 with the signature Of the Comp
trOller. ....
| deem it proper however, for the benefit Of
persons interested in the new bonds to make
statement Of the process of issuing them. The
amount OF labor is immense. The Comptroller is
required to number and sign each coupen-ffty
two in number, TO each bond of $1,000. He found
it impossible to number and sign over twenty-five
bonds in day. An estimate of the number Of
bonds TO be issued under these two acts shows the
d
three hundred and twenty working days. or over
one year The Governor, owing to frequent in
terrupions by the calls OF the people on business
and other official duties, could only make about
equal progress with the Comptroller If both
these officers had been in vigorous health they
would have been physically unable to perform
the task without abandoning all their other Off
cial duties, in less than from one to two years.
But they were both in feeble health, and for this
cause were compelled TO perform their duties by
proxy.
The number of bonds delivered by the engray-
ers strictly noted IN both the Office of the
Comptroller and Secretary of State, and on the
books of the engTayers. Two series are being is
sued, each commencing with No. J. The new and
splendid plate making the green impression is
used in filling the appropriations to the railroads
under the act of Janua.y 18th, 1866. The other
impression being from the old plate changed
by the engrayers is used TO comply with the
act of November 2}d, 1865. for funding the State
debt.
The series Of bonds from the new plate will be
signed in the Comptroler's Office by Capt. F. NJ.
McFall, and in the Governors office by Gen. II.
IL. Thomas of the Governors staff The other
series will be signed in the COmptrollers Office by
Mr.. d. W. Kelly, and for the Governor by myself
Every bond that has been or will be issued (if
keep my health) will bear my signature in my
own handwriting, and the well known great seal
of the State affixed in my office. Thus there will
be complete uniformity in each series. After all
it is the seal of the State that verfes the bond,
and it matters not whose hand holds the pen that
writes the Governors name, SO that il is done by
his direction, so that bondholders need take no
alarm at the sensation articles of ill-dispOsed
newspapers. For the better understanding of
those concerned, an act of Assembly will be
passed reciting the facts and declaring them valid
A. J. ELETCHER
Secretary of State.