Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1868-12-02

| / have prepared the following tabular state
ment. which is, As you viii see at once, sim
pie statement Of facts. fg0m which al them
! formation sought may easily be derived. rms
method of replying to the resolution afosesaid,
| l Judged would be more satisfactory and reiIa-
bic than n mere communication setting tortD
! my opinion.
THE ENTIRE RAILROAD DEBT TO TVS STATE OF
| TENNESSEE, WITH INTEREST TO JANUARY ],
| Ie65- INCLUSIVE
BONDS LOANED AND ENDORSED Ell TIE STATE.
East Tennessee and 949Git
East Tennessee and GeOrgIa........--.-.. Sol. ~
Edgeheld and Kentucky .--..........-- 2sl Y5Sl
Cincinnati. Cumberland GGp and
4so i5
Knoxville and Kentucky. 2.393 9e2
MeMnnville and Manehsster-----------.-. gSi IA
Memphis. GAINESVILLE and Louisville 2.226,II4
Memphis add Charles z.Ug0.5d6
Memphls and z 4bo5o5
Mississippi and Tennessee.----.....----- ~. "a
mOOile and OhiO-.-.--...- lfi9.sJ3l
MISSISSIPPI Central and Tennessee .tZo.{f9
Nashville and Oga-.-...-...-.----. s5SS35
Nashville and Northwestern. --.-.-.---. O6,yl2
kogersville and effsrsOn..-.-...----.---. 4S5g54
Masnyi le and Decatur ~ ~
Winchester and Alabama ,6lS 300
Memphis and Little ROck.......-..--..-- 535.y9O
knoxville and Charleston -..--.---....-.. I3l,50J
Evansville. Henderson aud Nashville 2l2OlO
East Tennessee and West North Caro-
hna--.-----.------ 1910. 11I,1oJ
Southwestern Sl5uJO
Total IS, stSl5
REHABILITATION.
Bonds loaned 4lOOO
Bonds indOrsed 269VJJ
Funded interest.--.-.------------..- 2,ll1.S5
Interest TO January L Is69...-.......-. 2,27l 4US
TotaI.........................,..........sass1sl
Clam q Haiss e rs,sl fe sss saT s1
me s ---.0--. ~-.---.@ eslsoso1 50
Claim Of United States vs.. Memphis,
Ciarksvile and louisville railroad
assumed By the ,756 "A
Grand tOtal............................s3lsu.87 s
The following table shows the State debt
proper. the amount Of bonds loaned railroad
companies. and issued for other purposes. for
the interest of which the State is liable:
State bonds loaned railroad CON-
panies IS, 1900 %
State debt S43 sos Sc
Turnpike and plank rOads..----.--..-- 525 DO %
Agricultural Bureau..--..-...-------.--,. s0OO %
Funding 4S90OO0 %
s3l5lO.sO6 &c
Less amt refunded By DR.. Burton 1900 90
State debt 49S 800 50
Annual interest on the above. S3O72 4S4 %
State governments anal expenses 100000 90
s2q72.44O 90
Estimated revenue for.
lS6i-.......-.. ISL. 2O5.j45 %
Est'mtd receipts from
Railroad companies. SS9. 25l o. S2,094.S06 90
s877.sl2 90
The aggregate value Of property
listed for taxation in 1855 is S20S.-
cents cen so on the 500. Would produce sssa23 81
The number of polls listed is 49, 80
6i1, At SD .---.--.-.----.... llZ,Uoo %
STATE II
From this amount is taken deduc-
tions for releases, commissions,
and about Is per cent, on prop.
On polls for insolvsn-
cies. errors, etc, p per .
5Js0l5 % SuO,3al .
Amount received from tax on prop
eFty and SSl.5AB 81
From privileges. ete--..--.-.-..--... 3yl l6lo Oh
Whole amount Of State revenue 81. 2)5,544 IS
These are the facts in the CASE facts that will
not damn" till the State IS lessened-
II will be seen at once that the financial inter
est of the state will not permit reduction IN
the rate Oftaxation. L am not. Of the opinion,
however that higher ratio Of tax on property
and polls would be good policy If II were pos
sible for the State to have property assessed n
seysnty-hve per cent Of its real value, me
present rate Of taxation would amount u as
much money as the people could well Afford 20
pay, and indeed, 10 as much as they ought u
be called on now TO pay. under any emergency-
think the law taxing insurance companies
ought to be changed at once, 50 "a TO collect
from each company at the time Of taking out or
renewing license all the tax that is charged. Ad-
passed at the last session of the Legislature. BY
So many companies that but little more has come
iatO the Treasury from that source
The law taxing merchRn 1ise ought also, IN ny
opinion. TO be changed. Better tax goods but
once. The two per cent" drought more money
into the Treasury than the present law does
Many notifications, changes. might. with great
profit be made in the laws OF the State bearing
ON and very seriously affecting its finances; and
new laws might be enacted which would greatly
profit the State financially. but As there Is a
| bill now in the hands OF your judiciary Com
raittee. which has been preferred specially Wlt1
L that most respectfully request the House 20
i give that bill deliberate and favorable eonsi-
4 derati0n for / can assure your honorable body
| that I know Of my own knOWlelge-knOwledge
1 that has been hammered out on the anvil Of eX-
/ perience-that there IS great necessity too every
| section Of that ball 81 proposed 70 be ameqded
| and enacted into a law
/ From the foregoing tables Il VIII be seen that
/ the cardinal and all-ImpOrtant truth thereby
| eIicited-l truth which may be regarded as the
i tutelsry deity of the State, calling on the Leg
islature to interpOse its power and authority m
i behalf Of its injured CREDITS this, that the
/ policy Of issuing bonds to railroads which have
/ been taken out Of the hands Of the company and
out into the hands Of Receivers that IS, Of the
/ bonds. the roads and all their assets, and who
i have for a longer or shorter period OF time so
managed the roads the bonds and the assets SIS to
i prevent the State from receiving one single
i dollar, can no longer be tolerated. IhIsls the
great change the financial interests Of the state
1 call forE To the consideration OF u most re-
1 spestfuily and earnestly call the attention %
l your honorable body. Your Obed1eat serYsnt'
l G.. W BLACKBURN. Comptroller