Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-01-15
STATE LEGISLATURE.
Measures for the Belief Of the Impoverished
State Treasury.
SPECIAL TO THE APPEAL

NASHVILLE, January l4.-In the Sen
ate, the House bills regulating the pay OF
Railroad Tax Collectors, and increasing
the pay of County Registers, passed on
their second reading.
The Senate bill Incorporating the Mem
phis Ice Manufacturing Company, passed
to a third reading.
4 resolution authorizing the Comp
! troller TO make an immediate apportion-
ment of $1,000 in the scholastic popula-
| tion of the State for 1865, was referred to
! the Committee on Common Schools.
The Senate adjourned until Monday.
In the House a resolution, asking Ten
nessee Representatives in Congress to
exert their influence to procure the aid Of
the Federal Government for the Southern
Pacific Railroad, was adopted. The reso-
luton was accompanied by a memorial
from the Memphis Chamber of Com
merce,
A bill incorporating the Memphis Real
Estate Association passed its third read
ing.
House bills incorporating Dresden High
. ~
county, were adopted.
Associated PRESS DISPATCH.
NASHVILLE, January 1.-THE Senate
to-day passed on first reading and referred
to the Committee on Finance, the Ways
and Means bill which passed the House
yesterday, levying a tax of sixty cents
on every hundred dollars worth of taxa
bic property to relieve the State Treasury,
and authorizing the payment in Bank of
Tennessee notes, and giving the taxpayer
the privilege Of compromising by paying
one-half in specie, greenbacks or Comp
troller's warrants.
House.-The House adopted a resolution
of the Senate thanking President Grant
for his course in regard to Tennessee, and
called up Mr.. Caldwell's preamble and
resolutions relative to memorializing
Congress, on the communication of the
Tennessee members of Congress TO that
body, denouncing the State Government.
Mr. Singleterry offered an amendment
to the latter, indorsing the administration
of General Grant.
Mr.. Ray moved to lay said amendment
on the table, which was lost. Yeas, 2S;
nays, "a.
Mr.. Hornberger proposed to indorse the
constitutional acts of the Administration.
He was in favor Of indorsing such acts,
but if this was an indirect censure of
the other aots, let II be so, as ne thought
it well deserved, especially in reference
to the XVIII Amendment. The whole
subject was then, after some debate, ,indefi- |
nitely postponed.
Mr.. Rhea introduced bill, which pass
ed on its first reading, to do justice to the !
Auditor and taxpayers of the State II |
provides for funding the outstanding |
bonds Of the State, whether due or not |
due, upon the conditions that the bonds |
already due, be presented to q Financial |
Board, consisting OF the Governor, Seore- |
tary Of State, Comptroller and Treasurer, |
with satisfactory evidence as to
what such bonds cost the present holders
in the par funds of the country at the
time of purchase upon which new oou-
pom bonds, for the amount of such cost,
bearing six per cent. interest, payable
semi-snnually, and having twenty years
to run, shall be issued to such holders
upon the old bonds being given up for
and that the new bonds shall I
DO issued to the holders of bonds not yet
due upon the presentation OF the latter to
the Financial Board for the amount said
new bonds cost the holder; and that upon
past due coupons on the old bonds, net
ting $500 or more, being surrendered to
said Financial Board, bonds of the cou-
pons, to the amount of $500, having twen-
ty years to run, shall be issued to take up
such coupons; and also, that the holders
Of the old notes of the Bank of Tennessee
may fund them at the rate which they
may have cost such holder.