Clarksville chronicle. (Clarksville, Tenn.) 186?-1872, 1871-11-04
THE srArE FINANCES.

4
THE STATE FINANCES.
Tn view Of the fact that the State
finances are now SO largely occupying
the attention of the General Assem-
bly,, and indeed, of the people Of the
State generally, the following synop-
sis Of the Comptroller's annual report,
submitted last Thursday, is of pecu-
liar interest and Importance. Out
standing warrants to October /, 1870,
S606, l23 So; warrants issued from Oc-
tober ], 1870, to October L, 1871, ST.
953, 5i5 81. Total amount issued Oc-
tober ], 1871, $3.50, $3.50 90; warrants
paid from October j, 1870 to October
n, 1871, Sl,S07,25l 10; outstanding
warrants Oct. ], 1871, s7s2,417 %.
There was paid into the Treasury
upon warrants Of the Comptroller as
follows: From October I, 1870 to Oc-
tober, I, 1871, 81 1896, 4yS SO.
There was paid out Of the Treasury
upon warrants Of the Comptroller as
follows: From October /, 1870, to DC
tober l, 1871, 81 ,s07, 25l 20.
From 1861 to 1871, inclusive, State
bonds to the amount of 81, 727, 666 SO
matured.
The following statement shows the
total amount of bonds and coupons
paid to the Comptroller by railroad
companies, from June, 1870, to Octo-
Der 1, 1871, thus retiring that much of
the State debt: East Tennessee, Vir-
ginia and Georgia railroad, 81, I16, $50;
Nashville and Decatur railroad, 50,
695, $50 /; Memphis and Ohio railroad,
S2.6l2, $50; Mobile and Ohio railroad,
$l01, 730; Memphis and Charleston
railroad, 1921, 430; Mississippi Central
railroad, sl6l, 200; Mississippi and Ten
nessee railroad, S20, 300; Nashville and
Chattanooga railroad, S2S,7OO; Ten
nessee and Pacific railroad, S71,l2O;
Evansville, H. and N. railroad, SAL.
10; Edgefield and Kentucky railroad
1925 900; McMinnville and Manches-
ter railroad, $4,000; Winchester and
Alabama railroad, S75, 900; Memphis,
GAINESVILLE and Louisville railroad,
SS5O, 200; w. b. Greenlaw, SAL ,010;
s. NJ. Arnell, $1,000. Total, &l1 1885,
100.
OF the above amount sl1 1856, 100
was paid in coupons, and 81 223, 100
In bonds.
The total Indebtedness of the State
Is shown to be as follows:
Total railroad and turnpike indebt-
edness, with interest estimated to
January l, 1871, as per my last re-
port, S31, 300, 4l7.l4; State debt proper
81 ,0S3, 99l 20; interest funded on same,
$7S5, 553. Total, 81, 819, 544.27. Bonds
Endorsed by State, 81, liz, 900; interest
funded since January l, 1870, S25, 900.
Total, S3S,3l6, 961. 40. Interest esti-
mated to January l, 1872, 81 ,S07, 1893.
10. Total, with interest to January
], 1872, $40, 124, 961. 10; liability Of the
State for debts N. & N. w. railroad,
estimated, $3.50, 900; Tennessee mon.
ey, $3.50, 900; outstanding warrants,
October /, 1871, $752,4l7.27; Loan
account, S208, 1000. Total, S42, 2S3, 1873.
81. Less Endorsed bonds, on which
roads to whom issued pay the int
est, 81 1895, 600; less bonds past due
coupons paid in, 81. 27O, 440--S9, O02,
440. Total debt and liability, $780,
100, 93s.97; from railroads, $40, Gas, 0S3.
20 = go, 5il ,9Oi.61. Tennessee and
Pacific omitted, value $500, 900.
AS to the value Of real estate In
Tennessee the following figures are
given: East Tennessee, 1875, Is acres;
valuation, s., 800, 005. Middle Ten
nessee, l0,082, $50 acres; valuation,
sos, 344, 1924. West Tennessee, $780,
4s8 acres; 59,348, 14S. Total, "a, 49,
258 acres; total valuation, 500, $780,
ut. Increase in value Of land In
East Tennessee, 81 ,272, 478; increase
in value of land in Middle Tennessee,
Sic, 08S, l59; increase in value of land
in West Tennessee, $9,509, 957; total
increase In the State, $25, $40, 392.-
Average value per acre In State, $780,
total valuation of acres, sos, 1886, III;
total valuation of lots and other prop
erty, S72,51S, 243; grand total valua-
ton, S2S7, sos, 020.
The Comptroller states that the
amount of S2,083, 440 81 stands upon
his books as due from delinquent Rev
enue collectors, County county court
clerks, etc.
School money is due the various
counties, amounting to SAL, 5S4 SO,
for which warrants have been issued
to the Trustees of each county.
After detailing the circumstances
of his sale of $50, 800 Memphis cou-
pons to certain parties of that city,
the Comptroller shows that 500, $40 Is
still due the State from the city Of
Memphis.
OF the common school system he
says:
"rhe present system Is of such re-
cent origin that 1t is impossible for
me to give an opinion, as TO its eff
tlciency. The people of the State
need to be aroused upon the subject of
education, and it Is believed that IL
we have not seen the immediate good
results of the present law, the fault
Is to be attributed to the indifference
OF the masses upon the subject Of ed
ucation rather than any serious de-
feet in the law.
Since the last apportionment and
distribution Of the school fund there
has been received In my Office about
the sum of $3.50, 900, the larger portion
OF which consisted of bills of the
Bank of Tennessee, and which were
destroyed In accordance with the act
Of the Legislature.
Changes In the mode of assessment
are recommended by the Comptroller,
there being too much favoritism In
the present plan; also, that the State
be better protected Us to the bonds Of
Revenue officers.
With regard to the accounts of Rail-
road Receivers, the report says:
At no very distant day, there must
be made final settlements with quite
IA number of Railroad Receivers, and
the labor involved In the same, II the
settlements are conducted as the In
terest of the State should demand,
will require the constant attention Of
at least one first-class business man
for year. The fact IL, the Comp
troller knows nothing of the validity
of vouchers presented by receivers,
aud cannot know, unless he could
visit the localities aud summon wit
nesses in each case to establish the
Validity of such accounts. A. the