Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-12-29
FINANCES OF THE CITY.

AA.A1
Meeting of the Finance Committee
Last Night-Representativ of the
Taxpayers Present-ImpOrtant Pro-
ceedings-StaGIsticsO of Indebtedness,
etc., etc.
The Finance Committee of the City
Council met at the Council Chamber on
last night, pursuant to the following call:
NASHVILLE, Dec. 81, 1867.-Dear Sir :
| The Finance Committee of the City Coun-
Gil will be pleased to meet you at the Coun-
Gil Chamber tomorrow Saturday evening,
at 74 o'clock, to take into consideration the
present financial condition of the city, and,
| if possible, devise some means for relieY-
ing the corporation from its present ems
barrassment, either by issuing bonds and
funding the debt, or levying a special tax
As every taxpayer is personally inter
ested in this matter, we hope to see you
present at the meeting.
By order of Committee.
JAS. G.. OGDEN, Chairman.
There were present John M. Bass, w.
Nichol, n. E. Alloway, Dr. T. A. Atchi-
son, Chas. Hillman, T. d. Fite, Samuel
Pritchett, q. H. Vessel, John Lumsden,
A. H. Hicks, J. w. Manner, r. F. Woods,
G. P. Thruston, Z. r. Glascock, NJ. Wet
more, A. q. Adams, Arson Nelson, j. B.
Knowles, Mayor Alden, and many others.
The meeting was organized by calling
John NJ. Bass to the chair, and appointing
A. G. Adams secretary.
James G. Ogden explained the objects
of the meeting, and presented the follow
ing exhibit of the Indebtedness of the city
in outstanding accounts, interest, ETC.
Expenses of the corporation for 1865,
'66, and by disbursement for the municipal
year ending October LIST, 1865, $343, 24S 10.
There was paid during the year on inter-
est account $25,667 80, leaving $317,-
$50 81 as the amount disbursed for corpo-
ration expenses during the year.
From October lst, 1865 to October 1st,
1866, $59l, 1922 25; paid on interest &C.
count, $98,057 03; expenses for the year,
$493, 1865 %.
From October, 1866 to October, 1867,
| $737, 1I3 10; interest account, $50,080 90 (;
expenses for the year, $687 ,O32 81; of that
amount $263, 882,75 was expended by the
Street Department.
On the first of October, when the present
administration came into power, there
were outstanding checks, as per Recorders
and Treasures reports amounting to 1885,
| III %; issued since that time in settle-
ment of contracts made by a former adj
ministration and for current expenses of
the corporation, $92,093 10, making 1927, :
210 80.
The Treasurer has paid and cancelled,
since October lst, $8l, 1876; leaving
checks Outstanding $l46,028,67; estimated
and still due contractors $4,000; amount
past due interest on city bonds $50, 900 /;
note to Mrs. w. A. Chatham, which is
past due, $25, 900; due Thomas Eakin, of
New York, ST., 900; present floating debt
$263, 02S,67, which must be provided for or
Judgment will be obtained, and the per.
| sonal property of the corporation levied
upon and sold at sacrifice
To provide for the payment Of the above,
| together with the current expenses of the
corporation, which we will estimate for the
present municipal year at 100000, we
have only the receipts from taxes and
| privileges. The collections from all sources
since the lst of October are as follows:
From revenue collected SIS, S25 So
From water tax 1872 05
From Recorder 9573 66
Isl So
Mr.. Rutland, Revenue Collector, esti-
mates the unpaid taxes at $500, 0O0-a por-
ton of which will be collected only by
legal process-which is very slow. Sup
pose the whole amount is good and collect
able, the receipts from that source will
not be sufficient to meet the necessary exs
penses of the corporation, which will be
largely increased by reason of the discount
on corporation checks.
The taxes assessed for 1867 amount to
$245, 1888 So, which amount was undoubt-
| eddy too small, in view of the largely in
creased expenses of the corporation, as
shown by the Recorders report. The
Council, in levying that tax, evidently
overlooked the payment of the outstand-
ing checks-$42, 000-of bills payable-to-
| gether with the interest on the bonds, a
| very considerable amount TO be paid on
street contracts.
The large floating debt is to be provided
| for, and the question arises how can it be
done to the best interest of the TAXPAYER
and the corporation.
After the reading of the report, A. E.
Shsnkland offered the following resolution :
Resolved, That VIM. Nichol, c. E. Hill
man, Samuel Pritchett, r. F. Woods and
]. NJ. Bass be and are hereby constituted a
committee, whose duty is declared to be to
make inquiry of The city authorities and
learn the financial necessities of the cor
poration; also to make report to an ad
journed meeting, with plan of relief, on
Tuesday evening next.
On motion, Mayor Alden was added to
the committee. -
The importance Of the resolution was
comprehended by all present.
Mr.. Allen, the City Attorney, said he
was glad to see the citizens interesting
themselves in the matter, and that any
feasible means of financial relief that
might be suggested would be welcomed and
respectfully considered By the City Council.
The resolution was amended by fixing
| the meeting at o'clock on Monday, the
9th Of January, when, without discussion,
| it passed unanimously.
MIR. Arson Nelson then offered the fol-
| lowing resolution:
Resolved, That Messrs. n. Z. Alloway,
A. .B. Shankland, and John KiTkman. be
1 4 Il