Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-12-07
TIRaT ROARp.
The following were the sales on the Sd
FrsaT ROspD
The New YORK World of the 2i inst

says .....
There is some doubt as to the payment
OF the January interest on the State debt. /
The State Treasury holds sum less than
$50, 900, while the amount required TO pay
the January interest is about 500, 900, and
for the current expenses of the State over
$3.50 1000, making total of about 81 ,000,-
600. The Sherifs have unti December Is
to make their revenue returns, but politi-
cal complications, general distrust, and the
poverty of the people render it more than
doubtful as to collections being sufficient to
meet the State liabilities on January l.
Georgian is the only reconstructed South
ern State that has resumed the payment of
the interest on its debt. 1t is said that the
Radical Convention, to meet on December
| 3. will provide in the constitution for the
payment Of all the Indebtedness of the State
| contracted before the rebellion, but at the
same time, it will be ordered that no in
terest shall be paid until this Indebtedness
is ascertained, audited, and reported to
| them. The statements made by the AHdi-
| tor and Treasurer of the State, that they
"knoW nothing financially why the interest
should not be paid, inasmuch az proper
assessments have been made" must he
| taken in connection with the actual con-
dition of affairs, to which we have drawn
| public attention"
The World ignores the fact that Tennes.
see has resumed the payment Of interest.
1t is true, that we have had so extravagant
State government, that notwithstanding
the enormously heavy taxes imposed upon
the people, we are compelled to borrow the
money to pay the interest falling due in
January. The same state of affairs existed
when the July interest fell due. We we're
then compelled to borrow money to pay
interest. What has been the result Of this
bad management? On the Sd of June
last the new issue of orr bonds were quoted
in New York at 6s@681c Now they are
down to 62sc Here is decline of &c,
being loss of $50 on every bond. 1t is
not difficult 10 see where we shall soon land
if by extravaganza and bad management of
our financial affairs this declinebe kept up.
1t is high time that the Legislative should
pay some attention to our financial situa-
ton.
The Committee of Ways and Means, at
its session on the Sd and 4th inst, had up
the question of contraction Messrs Hoop
er and Moorehead took strong ground in
favor Of allowing the Secretary Of the
Treasury to continue the withdrawal of
greenbacks, bat the other members we're
found to differ from their views, and there
are four of them. They announced them
selves in favor of repeating that provision
Of the law. No action vas taken, but it is
believed that the vote of the committee
will ultimately be against Mr.. McCulloch.
The New York Journal Of Commerce Of
the afternoon of the Sd inst. says
The market is without animation, and
business in most departments is languid.
There is moderate movement in bread
stuffs and provisions; but not much specu-
latiFe activity. The drygoOds trade con-
sists chiefly In the distribution Of stapIe
styles Of goods adapted to the current
season, in small quantities required to keep
up ASSIGNMENTS Prices Of heavy brown
ootfons are generally we'll maintained; but
medium and low grades of bleached goods
are held with less frmness. Woolens re-
main dull, and values of most classes are
unsettled. The demand for money IS a
little more active at COZ per cent. for all
loan on good securities and larger pro-
portion Of the transactions are made at the
higher rate. First-elass commercial paper
at short date is taken at SOLO per cent.
per annum discount