Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1871-11-17

] wv anu DIS report Tor 1871 to the present
General Assembly shows delinquencies to
the sum Of S2,O83, 900, and by what means
| do gentlemen cone to the conclusion that
there will be no delinquents in the year
1872? We cannot fail to provide for the
redemption of the old issue Of the Bank OF
Tennessee, for we are bound to receive il.
We cannot fail to redeem the outstanding
warrants, for they are in the hands of the
Judges and other officials who have per
formed services for the State. While the
warrants bear no interest, the holders there
OF should not be compelled to wait for their
payment, while the bondholder is paid TO
wait at the rate of 9 per cent. upon their
bonds. We must prepare to pay the loan
account, because if We fail to do so, we for
felt $4,000 in bonds of the State. which
are hypothetical for the sum of 500. 900.
and if we fail to redeem we will suffer a loss
of $4,000.
The honor and credit of the State, allied
as it is to the welfare of the people, demand
the passage Of this bill.
MIR. Mccall opposed the bill in rema rks
which will be found elsewhere.
Mr.. Carr opposed the bill, eontending that
the taxes it proposed were altogether too
burdensome, besides being really more than
are required to meet the current expenses
OF the State. He estimated that in round
numbers the people would have to pay in
back taxes, and in State and county taxes
provided this bill should pass-the sum of
eight millions OF dollars. On a people al
ready suffering from the burdens of over
taxation, and with large numbers partially
impoverished, this sum was simply oppres-
sive. Heap up the taxes in this way, and
you place the people in that condition of
Encouragement, so that at last they become
opposed to paying any taxes at all Make
the taxes reasonable, just sufficient to meet
the expenses of the State, and while we will
be able to keep up the State credit, the bur
dens of taxation viii not fall too heavy on the
people.
Mr.. Lewis advocated the passage of the
bill. The ad valorem tax was now sixty
cents; the present bill placed it at fifty
cents-a material reduction. Presenting an
array of facts and figures, and reading ex-
tracts from the reports of the Comptroller
and Treasurer, he commended that it could
not possibly be shown how the State could
meet her liabilities at a lower rate of taxa
ton than fifty cents on the hundred dollars.
1t was worse than folly to suppose that the
State had not to make provision to pay her
just debts. He would make the prediction
now that if such provision were not made,
reputation was simply inevitable.
Before Mr.. Lewis had concluded his re-
marks, the House adjourned until 2:30 P. NJ.
Afternoon Session.
Mr.. Lewis resumed his remarks in favor
Of the tax bill. Those who contend for a
fifty cent tax, he said, were with the finance
officers of the State, who, by virtue of their
position, were compelled to be thoroughly
familiar with the wants and requirements
Of the State in financial way. Strike out
the fifty cent proposition and make it forty,
and you simply say that the State refuses to
pay her floating debt. The whole matter,
summed up briefly from data that cannot
lie, amounts to just this, that the State can
not meet her obligations at a lower rate of |
taxation than fifty cents. r
Mr.. Enloe replied that arrangements were
being made for lease of the penitentiarv,
which would insure the State against any |
appropriation for the purpose of redeeming |
.he warrants loaned to the inspectors of |
hat institution.
Mr.. Linn, of Fayette, followed. He was |
opposed TO the bill, arguing that thirty cents
vas as much as the people could stand at |
present. This he considered sufficiently |
nigh rate to meet present emergencies. Let /
he future take care of itself. While he was
n favor of low taxes, he was no advocate of
he State repudiating dollar of her Just
obligations. Mr.. Linn continued at some
ength, his arguments pretty much the
iame as those enunciated by others on the
anne side.
Mr.. Buford, in few brief and pointed
emarks, earnestly advocated the passage
If the bill. He was perfectly satisfied that |
! lower rate of taxation than fifty cents
would be insufficient to meet the States ex-
lenses and obligations. He had seen at
east hundred of his constituents the pre-
eding day, and there was not man of the
Whole crowd who was not in favor of |
high rate Of taxation to meet all
be obligations of the State.
Mr.. McGlOthin then addressed the
louise. He said the present condition of
ne people demanded the lowest rate ,of
lxation that would be adequate to meet
he floating debt and current expenses.
here was every reason why gentlemen
Mould vote upon this question without
ference to our bonded debt, the payment
which he maintained ought not now to
2 considered in connection with thisuues- {
on. As between the bond-holder and the
eople, he should not hesitate to take the
de of the people, not yet fully recovered
ON the effects of war, short crops and t
eavy individual burdens. He presented a c
BILE demonstrating that thirty cents would a
sufficient for the above purpose, and ar
led that all above that sum was levied {
the interest of the bond-holder, r
hich surplus would amount to about ],
If million. If however, this rate should / .
insufficient, he argued that the Legisla- q
re should look to another source of reve- .
le-viz.: taxes due upon real estate for "
ars past-and the real estate sold for their y
yment and bought in by the State; but "
e State has got neither tax nor land, but U
en- burdened by the heavy expenses u
,ident to such sales. Attention to the n
bject, he believed, would bring thousands u
dollars into the treasury, and he invoked O
earnest attention Of members 10 it. 1t
He argued that reputation might result
IN oppressive taxation, and even the
should beware of excessive al