Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-11-16

|
are we 10 derive the meaRs If our resources al
| taxed to death9 There are great many PEI
pie in Tennessee who do not colnpthend tn
moral obligation they are under 10 deny a
education 70 their children and the ordinar
comforts Of life TO their families. in order tina
they may pay immediRiely She iull hInouht M
| holders fifty cents on the dollar. repeat thH
It requires highly educated mind TO compre
| hend this duty. confess that for one, hol
that the highest grade Of obligation now rest
| ing upon us is 70 educate the children OF IN
State Our debt 10 Them Is one of a NOR
| pressing character than any other, because
| Is q debt thai must be paid at maturity or nc
| at all. The youthful mind Will not walt;
will develop in uneducatsd baroaIism, OF Il
| polished and educated refinement. Our bond
| grow better as they grow Older. Our children
II uneducated, grow worse. II is use tess 70 tai
of the plighte0 faith of the State and c
| our duty 20 preserve our credit. 1t Ia poor con
ISOLATION to the tax-ridden people 10 tell then
that the buI den which presses the life ou
81 them preserves the, the credi. .edIt Gt b1s In
served at such q cost, because at sucl
a cost it ceases 10 be credit Nor is It to tn
states are like individuals, and should b
| treated as such. Tennessee is now endeavor
| ing, by the most tremendous efforts, to reliev'
herself from her Ii ancial embarrassment, b!
| means OF q superlative effort Sne is abou
i to free herself from the tolls so hlgeniously
/ woven about her by railroad rings. And snail
/ by adding to the weight that is alroady press
ing her to the earth ? Mol Let Us be true t(
her interests and faithful to our t'ust. Whst
| Is there about this debt that renders IL so pecu
| dsrly sacred9 mean that portion crested In
| aid of railroads. Are the circumstances undel
which it was created OF character to recon-
mend II 70 more than an ordinary c0psidera-
| uon? In other words, do bonds, Issued to
| companies having no existence, save on pa
and sold TO parties who Understood this fact
| do these evidences OF debt cieste q higher OBJ
| legation upon me people Of the tate than
that which she owes TO her childrenS 1 do not
so regard IL. l do not mean that these bonds
are not binding upon the people, nor do
mean 10 attack the authority OF The legisla-
| tura authorizing their Issuance; but this do
| mean, that the purchasers of our bonds took
them with full owledge Of the circum-
stances under which they were issued ,and paid
( r them accordingly. Aud 1t is but fair TO re-
mark here that neither OF the political parties
Of this State are exclusively responsible for
| this state Of affairs. AS q republican member
Of the legislature 1855 voted against every
single proposition 10 tax the people to build
up railroads. It occurred 10 me then that
evitable result Of this course Of legislation.
We have thus far escaped utter bankruptcy.
Let US now endeavor TO avoid repudiation.
Let US husband our strength, curtail our ex-
penditures, reduce our taxation, foster our
manufactures, develop our resources, open up
our rivers, build our railroads, educate our
children, and we cannot repudiate our debt.
But in order 10 do these things the people
lust have time TO recuperRte from the inRn-
cial reyerses that 50 heavily weigh upon
them. But six or seven years have elapsed
since we emerged from utter chaos, and while
much Of the legislation which has interviewed
since that time is Of character which can
not approve, yet much Of good has been ac-
cOmplished. Our roads have been rebuilt,
and our schools, in many places, have been
put In operation, and every appearance indi-
Gates that with a few years OF light taxation
We viii be enabled 10 regain our lost position
and once more assume our place as first among
the prosperous and enterprising Of the west
ern states.
Let u.s. then, by a system of wise and pru-
dent legislation, encourage our people 10 go
forward In ali their laudable undertakings
Let rs stand as a bulwark between them and
the financial ruin which threatens them.
beseech this house IN reduce the rHte of taxa
tion now proposed, and relieve the people
feOm a burden which weighs like an incubus
upon them. This is a solemn duty, which ve
owe TO the people whom We represent. Do
this and the people will rejoice in the fact that
their servants have been faithful 10 their
trust. Do II not, and the gloom Of 3 funeral
procession will mark your return to the peo-
pie. urge this policy, repeat, not alone be-
cause the people desire IL, but because Il is
right, and proper, and necessary. Let us deal
frankly with our creditors, by telling them
that al present We are unable TO pay. And
beg you representatives not 10 pursue such
policy as will rende- them unwilling 10 pay.
With proper observance of economy in the
various branches and departments of our State
twenty-five or thirty cents on The hundred
dollars ought to be sufficient 10 meet all the
necessary expenses Of the State. II, however,
upon comparison of The reports of the vRri-
Gus departments, Il shall be found that this is
not sufhcient let 3 tax be ASSESSED upon the
gross receipts Of railroad and turnpike COM
pantes, sufficient TO meet the remainder. The
principal amount of the State debt has been
Incurred In behalf Of these companies aud Il
is but fair and just that they should pay a
large share oft. But apprehead that with
a just aud economical administration OF our
State government We need not even have to
resort to this mode OF raising revenue. The
comptroller's report shows q total revenue
due from delinqu snbs (,noludiu g the tax of
6l, which ts lot Ss yet det1que ~, of 50 OS3
q 81. Toe privilege tax on suits win yield
y n Qhnnr Ghh0 mo and a
rem tax. estimating tho taxable property of
the State al sS1 ,0.00 eco at 50 cents on re hum
dred dollars ". Il yield TeVeEu0 o. 81 $4,000.
These various TENS ofrevenue fOotup e 49,
4f0 81. row II viii bo seen from, the various
reports that the liabilities to provide, for
which this enormou tax is to be assessed co
NOT sxceed So SIS. siT a, includins current ex.
peusss, outstanding warrants, Old Tennes see
money and loan Hecount, which am unt can
ne amply provided or with an as,e Elnent oi
80 cents. with 8 margin sumo 'sns to provide
ior sl c0Dtlngen iss In ADDITION TO sll this
IL may be FAIR 70 presume thst the cost OF
leeiRl stion will De reduced, Ca aSd eY.
ecative expenses ought 10 De cuTtailed, while
in The iiem o. public printing alone we may
sxpees a saving 10 the Slate OF eight or ten
thousand dollars annually
Whcn these reforms and re.renchments
shall rave been effected, and when our con-
neetlon with ths railroads shall have been
severed, ta oousummatlen TO be deVoutly
hoped for,l then and NOT TIL then viii we be
in a condition to meet cur oblisstion TO our
creditors.
MI. speaker desire 10 see our 1entS paid as
promptly and as early as possible, but do not
hesitate TO say that at present tlle people are
unable 10 pay. And all this atteQpt to alarm
them by the cry of reputation WiN not make
them aDe. WHAT sense would thefAbe in tell
ing a dying man tina his death WIN amount
70 a reputation OF his debts, aud, therefore
he must not e7 IL is not with the pNpple a
question Of choice, but one of sbility.A And
all this parade of state credit aud our plghted
faith will not serve TO disguise this attempt 70
compromise the interest OF our State. My
"plighted faith" is TO relieve my peo-
den OF the present rate Of taxation.
That pledge was freely given, and freelysand
fully do intend TO redeem it. shall not vote
either TO "bull" or 20 'bear" our bonds. 1t is
Of but little interest to the mass Cf the people
spect for moneyed combinations who are spec
ulating on our credit. do believe, however,
that US large Indebtedness is due, aud is 10
become due 70 the State, from delinquent rail
roads, IL is to our interest that these bonds re-
main within reach Of these com panies In Or
der that they may pay their indebtedness. In
not to our interest 70 initiate at present the
value of Our securities, Almost from time
immemorial we have been v1ctimized by
"rings" and combinations and mopopolies,
and Il is high time the legislature were taking
steps 20 protect the taxpayers against these
In every cont=t that the
porations and the people, the latter have
been the sufferers. The interest Of cor
porations is concentrated, tina Of The people
of the fOrme are represented and protected by
agents and officers appoi ated for that purpose,
the i gislsture alone is entrusted with the
duty Of protecting the interests of the people,
and they should carefully and vigilanIly dis
Charge this trust. A uortton OF the committee
here reported in favor Of thirty cents on the
one hundred dollars. wish they could have
here determi ed that 3 smaller rate would be
sufficient. ! believe, that with proper re-
gard 10 economy, that smaller amount
Mr.. speaker, the sentiments to which 1
have given utterance TO are not of a partisan
character. l myself am 8 Republican,
voice and interpose my vote % protect the
people against the insutferRble burden of high
axes: And do hope that q sufncient num-
Der Of the other party may be found true to
the interests Of the people TO prevent the pass
ing OF high tax bin. care not what position
indulge in these excursive flights Of patriotic
fancy. II will not do TO return 70 your con-
stituents and tell them that the credit OF the
State demanded high taxes. What is the State
but the people Of the Stats; and where is the
glory OF people that have Learned 20 trem-
bic At the taK-gatherers approach? The credit
OF the State is made up Of the credit of the in
dividuals com posing it, and ihey must be
taught TO observe their undertaking., Our
debts, both public and private, must be paid.
people 70 meet these obligations that l ask
that they be relieved from the burdens which
now weigh 30 heavily upon them.
Mr.. Enloe, in q clear and consecutive
speech, ssidI
Mr.. SPEAKER-In opposing the policy re-
by our worthy chief magistrate
and adopted by a majority of the committee
of finance. ways and means, do not wish 10
be understood as opposing the spirit and in
tent Of that policy, but merely rs expressing
difference Of opinion Is 10 the rate OF taxation
necessary 10 the successful Inauguration and
maintenance Of the policy recommended.
That policy would dictate that we should
only levy tax sufficient TO cover our out
standing indebtedness and to osfray the cur.
rent expenses Of the State government and
sfn satisfied that such Is the sincere and hon.
est desire OF large majority OF the mem bers
OF this general assembly, but the question
arises as TO what rate Of taxation Is absolutely
necessary TO effect this purpose. and upon this
there Is q greet diversity Of opinion. This is