Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1868-08-19
TO TAx.PAYERs.
An Appeal from Alderman meDasits'
Of the Finance Committee.


sumpiuous In me, as Chairman OF the
Finance Committee, to make you few
plain statements concerning our present
condition and prospects financially.
/ feel Il TO be the duty Of all good ciii-
Gems TO aid, by all means In their power,
in building up aud sustaining the credit
Of their city government, and certainly
they ought to do this, when we have off,
cials Gas We now have) who are doing all
they can TO economize and save them
from bankruptcy and ruin. But the tax
payers Of the city have not co-operated
with us as they should have done ifthey
had. our credit would to-day be far in ad'
vance Of what tits. Just look at the facts
the entire floating debt ofthe city amounts
to 81, ll0,l7 SO. OF this amount, a por-
ton is for bills payable, which will not
mature for long time to come,say eight
TO ten months. But the worst part Of Il
ali is the larger sum Of 1886, 1923 that is
owing us by you, for taxes, and which, II
you will come up and promptly pay Jou
can now do 1t cheaper than you will be
able to do few weeks hence, when scrip
will have advanced, as it certainly will,
will help US out more readily than any
thing we could do. You will notice also
that $4,000 Of our scrip is being rapidly
absorbed by the funding into bonds,
which will leave but about 5000, 900 in
the market to be used by you in paying
taxes.
know you oil livery justly, toe,) com
plain Of hard times but let big specu-
lation present itself and most ofyou will
manage some way to raise money to 90
into it. Let me here say, that, in my
opinion, no better speculation can be
shown that will pay you so we'll as to
come up honestly and pay your taxes,
thereby elevating our credit, which you
ought, any way, to feel pride in doing,
and enabling us to redeem the amount Of
your tax next year. This is great ad.
vantage you will have, and these are
matters that deeply interest the smallest
tax payer in the city. Let me here as
sure you that it is the duty of the authori'
ties to enforce, by all the legal means in
their power, the collection of this large
balance of unpaid taxes, and know l
speak the sentiments of the whole
Board Of Mayor and Aldermen, when |
tell you they will do so, promptly and
without fear or favor. If this large debt
was paid by you, then the city would
be relieved Of her entire floating debt,
and the expense Of carrying on the city
government could be reduced from
twenty to thirty per cent. Your city
bonds would advance, and you would all
soon see very different state of pros
perity on the subject of city bonds. 1t
is most astonishing to me that you will
ell lay still, and see one of the bestpay-
ing stocks that can now be got hold Of
taken from you by Northern capitalists,
just as you did the scrip. The bonds, at
the present market rates, are q twelve
per cent investment, and to you, tax
payers, what is safer to put your money
in +? You have the interest provided for
in your taxes, and the bonds, at maturity,
will bring double what they now cost
you; besides, these bonds are first
mortgage on every foot of your
property. In every other city
but Memphis, the property owners try
and get hold of their own bonds, and
thereby keep them at home. Just so
sure as the sur rises, gentlemen, if you
do not appreciate your bonds, you will
regret it, for have every confidence that
in short time you will see them sought
after at from seventy FIVE to eighty cents
on the dollar.
Very respectfully, e. McDAvIrT,
Chairman Finance Committee.
Memphis, August 10, 1868.
The CoxING DRAMATIC SEASON. We
take pleasure in being able to announce
that the New Memphis will be re-opened,
with Mrs. W. G. Thompson, the estimable
widow of the late Manager Thompson,
as lessee, and Mr.. G. d. Steinkuhl as
manager. Under these auspices bril-
liant and successful season may be
relied upon. Mr.. Steinkuhl, who has
been associated with Mr.. Thompson for
several seasons past in the conduct of
the establishment as Treasurer, is q
most worthy successor to the manage
ment, and, with considerable experience
and cultivated taste, is possessed ofyouth
and energy, which will not fail to achieve
for him success and reputation. To-
gether with Mrs. Thompson, he will leave
shortly for the East, to effect arrange
ments with stars, secure q stock COM
pany for the season, and, also, secure the
services of first class stage manager
The result Of their visit we trust we may
be able to place before our readers at an
early day.
"MooEsroNE," by Wilkie Collins, re-
ceived by Cowperthwait, Chapman d
Co., 279i Main street.
Final discharges in bankruptcy have
been granted the following parties since
L. III . C.o.nn ID MnNnhh II w