Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-09-02

increase Since 'O5, 1901, ne %
Result OF Three Years OF Radical
Rule.

From the Nashville Banner OF sunday
The rast thEee years Of Radical rule in
Tennesses have been characterized by the
most wenton waite Of the public money,
the grossest corruption and the most reck-
less extravRgsncs that eve cursed any
community. We have been at some
trouble aud taken no little pains to inves-
tigste the fnsr cisI condition OF the
State, and TO ascertain by comparison
the difference between the funded debt
and other liabilities Of Tennessee, az 1t
vas in the month of May, 1865, and its
present figures, September l, 1858:
From the report dated May, 1869 OF
Comptroller Fowler, we find the then
debt thus -
Bonds issued TO railroads 10000 90
To turnpikes and plank road.-.-- 5000 90
To Agricultural Bureau $1,000 90
For capital OF Bank of Tennessee,
state Capitol and other purposes,
denonin2ted state debt proper" 3s94.6O6 So
Making Of fqndea debt s I7, s0s,6c6 e6
To which add indorsement OF bonds
ofthe city of Mem phis aud OF va
rious rauroads.~~---------. 80. O7,GOO 90
Showing its entire liability in May,
C6mptroiier BiscFburnIS rs1o;f "'le0'"O %
dated August 3, Is6s,) gives the
amount OF outstanding bonds and
habilttieI for Endorsements, as
To which must be added matured
interes4 since January l Is Sop
TENDER l, 1858, about---......- .... I,400,O00 90
berI 1853 sss, I5O,ses 50
the month or May, 1865, as above
20, Fo5,6O6 So
showing an increase of the debt in
1903 As OAI Tlh %
This statement may be relied upon as
in all respects entirely accurate. In ad-
dition there are Also to be mentioned the
" school debt and the redemption of
the circulation OF the Bank Of Tennessee,
which are TO be provided for.
liz it shy wonder, with such an exhibit,
that the taxation under which we are
grosning, and which is p~arslyzing our
commerce, Is too g~riev0us to be borne ?
And yet, with all this palpable misman-
agement Of the State finances, we see
men, claiming to represent the people Of
Tennessee, advocating a militia bill at
the behest OF the Gubernatorial mono
maniac ct Knoxville, which contem-
plates the saddling of e debt still more
enormous upon the tax-ridden citizens
whose substance is already nearly eaten
up by the vampires who order these ex-
traOrdinary levies. With the above
truthful and accurate exhibit of our real
financial situation, no intelligent observer
can possibly doubt that q call of the
militia will utterly destroy the credit Of
the State, to say nothing Of more tragic
and disastrous consciousness which are
likely to follow upon the heels Of that
ruinOus measure.
We desire that the Brownlov admins
trati0n and the Legislature should ex-
anime with most searching scrutiny the
figures given shove. They will be found
TO vary but g very few thousands from
the actual condition Of the State finances,
and. furnish the only correct statement of
the debt which has been made since
May, 1866. = such an expose does not
open the eyes of those who control the
public purse, they must indeed be too
perVersely blind or too thoroughly dis
honest to comprehend the financial
situation.
1t is but just that in this connection We
should exonerate Comptroller Blackburn
and MS chief clerk, J. 7. Piunkett, from
even Implied blame for the confusion
worse c~OnfOunded which hes character
lied our finance for the past three years.
Amid ali the violence OF party contests
their honesty has never been impugned.
II the hungry rats Of Radicaiism have
gnawed into the public crib, and fattened
themselves at the public expense, it was
not for want Of vigilance on the part of
the keepers.
"6esides this debt, there is due TO the " School
una, ana for the redemption OF the out
standing circulation of the Bank of Tennessee,
an uhascerts1ned amount Of probably some two
or more millions OF dollars.
fyfIhlSi Increased indebtedness some 5000 600
or - SVVooUot IL was usedin paying and fund