Clarksville chronicle. (Clarksville, Tenn.) 186?-1872, 1869-07-10
Neatly and Promptly Executed.


state Financcs Aedi1-Xnothcr Lct
ter from the osnfstroIlcr--IA Chan
sl,otat Railroad Receivers.
Tho following letter, from Comp
troIlcr blackburn, addressed TO n gen
tlenlan in Knoxville, is printed, by
permission, In the last issue Of the
Press and Herald, which paper thinks
In somewhat "sarkastilul. ~
1ra CoMrrRof.bER's OFFICE,
NASHVILLE, Tenn, June IL, 1869. !
II. G. Tarwater, Esq: .iIa.l sbrsssl
Ny DEAR SIR--Yours of the 18th
instant has just now reached me. /
only have had time 10 give scraps
of the information you call for.s
First, il will be safe to say that
$26, 000,000 In bonds have been loaned
to railroads; that ~, there is now
that amount outstanding against the
State, of tho bonds loaned to the
roads. .rs .. t.,.,. ..l....t.l. ~.
The Secretary of State says section
s, chapter AZ, acts lSe7-6s, has not
been complied with. - yai1g
For the indebtedness of the rail-
roads in particular and In full to Both
September, 1890, see House Appen-
dix, 1S8S-0g, pages 50 and 80. send
you copy by mail. e.I,oa ~
ID. Il. Davenport is Receiver on
two roads, McMinnville q Winches-
ter and Winchester and Alabama,
and DIR. Cliffs Receiver on twoi0,ds,
Nashville and Northwestern and
Memphis, GAINESVILLE and Louisville.
The law allows the Receiver as much
as the Superintendent of the road got
when it was in the hands of the COM
pany, Colonel Jno. Is. Brownlow Is
Receiver on the Edefieid and Ken
lucky Railroad. His salary, l be-
lfeve, is 5000 per annum. / don't
think he pays much attention to the
road. The State has received some
81, 500 from Brownlow's road, direct
| ly after lie took charge Of It. This II
all the State has received from any
road i'm the hands of the Receivers.
1t is not, or hts not been, as think,
intended that Che State should get
anything from the Receivers, the
payment of the $4,000 by Colonel
Brownlow being All old fashioned
transaction from the country. 1t II
likely the blunder will not again be
committed. The annual interest on
the bonds loaned to the roads, H.
about, 81 ,580,000. The roads pay
about halfof this, and the tax payers
the rest. ftss. 49,
The State debt, the interest on
which we know we have to pay, II,
I'm round numbers, S35, 600, 900. The
semi-annual interest on this sis 81 {,
O50, 900.
In thinking upon these subjects, II
Is enough TO know that the demands
against the treasury independent of
that political monstrocity called tho
militia, are greater than Its incomes
by at least 5000, 900 per annum. "
of two years, every dollar will have
| to be borrowed. -
If money is borrowed, not less than
and bonds used az collaterals, &C not
more than fifty cents OH tho dollar.
Only one road has yet paid. ]
hope to receive about S40O, 900 from
THEM on the July interest. / fear,
however, shall fail TO do so. From
the roads In the hands of Receivers i
expect nothing. a,a... t,.,f,.s.
The hope of the State Is that hon
est, prudent men may come to the
Legislature mex fall, and SO economist
as to give hope to the people, and sell
out some of the roads that don't pay
for bonds Of the State-cancel them
and thus lessen the State debt.
~
Hastily yours, a..J .I...
G.. w. BLACKBURN, Comptroller.
+. S.-Since the date of the report
In the appendix, several hundred
bonds have been issued. Remember
this. nfat ao @. w. ID.