Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1871-10-12

OOulitys IdSScu.
HOUSE BILLS ON FIRST READING.
To loan arms to West Tennessee College.
Passed.
HOUSE BILLS ON THIRD READING.
To amend sections 3,l55 and STA of
to Judiciary Committee.
The Senate then took recess until three
O'Clock, when il re-assembled.
TREASURES REPORT.
The annual report of the State Treasurer
was received from the House of Represen-
tatiyes, he reported that he did not agree
with the Comptroller as to balance on hand
at any time. On June ], 1870, the Comp
troller's books showed balance in the
Treasury of $464, 1882, while his showed
nothing on hand at the time. On Oct. II
the difference was sl45, 601.52. The follow
ing is the financial statement:
Balance in Treasury June /,
1870. e s
Received into Treasury upon
Comptroller's receivable war
rants from June /, 1870, to
Sept. 30, 1870, inclusive. IS 317,529 OF
Paid out during same period
on Comptroller's payable
warrants. ................ 163,s49 50
Balance in Treasury Oct. /,
1871. 163,6I9 Is
Received into Treasury upon
Comptroller's receivable
warrants from Oct. 1, 1870,
to Sept. 80, 1871, inclusive. 1,666,498 SO
Total. ...........s1, s2O,17s O6
Paid out of Treasury during
same period upon Comp
trOller's payable warrants. 1,S07,251 70
Balance in Treasury Oct. /,
1871. OBSERVATION-DISCLOSURES. Sl2,v26 Il
Less amounts paid out for
RuSt OBSERVATION-DISCLOSURES. III, l53 AZ
Actual balance in Treasury
Oct. !, lS71............. S2,772 78
The monthly statement Of receipts and
disbursements from LIST June, 1870, to 30th
September, 1871, sixteen months, gives the
total receipts at 81 ,9S4,027.95. Total dis
bursements 81 ,97l ,l01. IS, leaving a balance
of S12,926.2T, from which deducting
amount against Rust, there remains an
actual balance of S2,772.7S. Appended
TO this is a detailed monthly statement.
The Treasurer continues regretting that
there is not heavier balance on hand, vet
in many respects there are evidences of
marked improvement. There are increased
manifestations of confidence at home and
abroad of the honesty and good purposes of
our people. He refers to the decision
respecting bank notes of Tennessee in pay
ment of taxes, and states that there remain
to be redeemed, of the old issues, $4,000,
aud perhaps S250000 of the school warrants
made good for taxes in the hands of any
person. He refers to delinquent tax payers
and states that the poorer class, as a rule
are those who pay first their pro rata. He
suggests the adoption of sometmeasures to
force prompt payment. The valuation
of taxable property of the State
has been increased during the last
fiscal year by about S25, 100000, but
this increase is confied to a portion of
the counties. With full assessment the rate
could be reduced to three mills or even
less. He does not think that the State will
be in a condition to resume interest pay
ments before January 1874, if then. To
pay interest, retire the Tennessee money,
cancel all outstanding warrants, and defray
current expense from month to month,
would require tax of SIPS on the hun
bred. Bondholders do not expect interest
under two years, but it should not be de-
layed beyond that time. After selling any
remaining interest in railroads and turnpikes
that the State has, the only way to pay off
the debt is to levy taxes sufficient to get nd
of all Tennessee money receivable for taxes,
to pay all outstanding warrants and defray
current expenses for lS70-71; then taxes
sufficient to run the State government and
pay the interest of the entire bonded debt.
We must either pay or repudiate. There
fore the rate should be kept at its present
standard. When the deferred payments
for railroads sold are made, and Tennessee
money and warrants redeemed, our State
debt viii then be about $4,000
600, with which taxes will not
be oppressive. The estimated re-
ceipts from taxes for the ensuing year, at
the same rate as for the fiscal year just
closed, is $4,250,000. The estimated dis
bursements amount to 81 ,296, 500, or an ex-
! cess of expenditures over receipts Of S46,
500. The estimated receipts do not include
receipts from delinquent tax lists, but then
there will be similar amount this year as
there has been in the past. He anticipates
! complications and troubles from the new is
sue of the Bank of Tennessee. If re-
ductiOn of the rate of taxation to any ex-
tent is determined upon, he recommends
| the funding Of all outstanding warrants. He
4 NOlNthtSo W AhdhAl6 Oil
| of invaluable assistance rendered him, as
| Treasurer, by the four State Depositories.
! The report was received and 500 copies
| ordered to be printed for the use of the
| Senate.
| RAILROAD COMMISSIONERS REPORT.
| The report of the Railroad Commission
ers, synopsis of which was published in
/ this mornings UNION AND AMERICAN,
was received from the House, and $50 cop
les were ordered to be printed for the use
! of the Senate.
LIBRARIANS REPORT.
! Mrs. Haskell, the State Liber-
ian, submitted her report recon-
mending several improvements in the
library. She reports between eighteen and
! nineteen thousand volumes catalogued.
She appeals to the Assembly to aid her in
Der efforts to preserve the good order of the
library, and prevent members Of the Legis-
lature from unnecessarily removing books
| from it.
Report adopted and 100 copies ordered to
be printed for the use of the Senate.
| Adjourned fill 10 A. NJ tO-mOrTOW