Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-11-03

warrants at present, inssmuch as they are
generally held by speculstors who bought
them at deprecated rates, and occupy no
higher grounds than coupons from bonds
issued according to law, and now overdue
are of opinion that 80 cents on 500 Cf
tsxsblss will meet, and more than meet,
every demand which should be paid at
this time. Take the estimate Of the ma
iority, of S2,5Is, AZ q, as the sum neces-
ssry TO meet the demands Of the treasury
for ls7l-2, as q basis. Then estimate tie
taxable property at $500 .OOO, 900, as do the
majority of your committees; and, by
levying q tax of 30 cents on 500
worth Of taxable property, we have
total OF 100000. Add to this
$3.50 OlO arising from privilege tax on
suits, etc., and balance due from delin
quents, as per comptr oller's report, psge
IS, and We hsve q total Of s., ,5SS, 900. By
estimate it will be readily seen that this
sum raised by tax of three mills on a
dollar exceeds the necessary expenses, in
Guiding balance for 1871, loan account,
old issue of Tennessee money, outstand-
ing warrants, and expenses for 1872, by
the handsome sum Of 81, OILS, ,5S3. This lat
ter sum, we may reasonably suppose, will
psy collections, cost, losses, &c. These
figures convince the minority Of your
committee that three million dollars Is
sufficient, and therefore they earnestly
protest in the name of the tsx-ridden peo-
pie Of the State against higher rate So
absolutely unnecessary and upjustihsble
under existing circumstances. They are
anxious to see every dollar Of Just and le-
gal Indebtedness discharged as soon as
possible, but think that the time has not
yet arrived when steps should be taken to
effect that object. Your committee are
further Of the opinion that the net In
come of corporations, which the msjority
propose TO tax i've mills on the 500,
should be three mills, for the reasons al
ready given, and for the additional reason
that, under our constitution, uniformity
in the assessment of dd UalOTem taxes
should be preserved.
There are other points Of difference be-
tween the msiority and the minority OF
your committee, but 1t is deemed unnecss-
sary to refer TO the same, ss the more OBJ
jeetionsble features have been pointed
out. Believing we have discharged our
duty 70 our constituents, We leave the
suhisct with this House, Ia full conf
dence that our conduct viii meet the
hssf:y approval Of the people of the Stste.
TsiRned w the committee, Messrs. ]. A.
Mccall, W. D Lumpkin, J. NJ. Crews, W,
F. Hinckle, J. L McGlsthlin, B. w. Psdget,
Chs=,ss Lynn, J. q. Msgill, B. A. Enloe
and J. N. Harris,
Among the new bills and resolutions
was one by Freeman providing for the
printing OF five hundred. copies Of the re-
port and testimony OF the Baxter COM
mittee; by Wilson to amend laws in re-
gard to suits brought by poor persona;
by Doss to change the line between
sbe counties OF Wilson and DsKslo;
by Lewis-prescriblng the oath to be sd-
niuistsred 70 witnesses before grand
uriss; by Buford-to amend section
2477 OF the ccde; by Moore-Teducing
State and county tsxss on public hacks,
making State tax ten dollars and county
ave dollars; by Lumpkin-regulstiDg
legal proceedings by or against railroads.
The senate bills adopted on second read
ing were: To amend the general law con-
cerning railroad corporations, sutboriZ-
ing them to consolidate with each other;
8 committee to investigate the
statutes OF Tennessee compiled by Thomp-
son & stisger; also Shsnklsnd's
10 amend section 277S
Of the code; TO amend the charter Of the
Washington fre and marine insurance
company; in regard to the poll-tsx; to
prevent sppeals from Justices Of thepesce
for purposes of delay; to repesl q portion
Of section /, chapter IA, Of the acts of
ls6g-7O, relating TO justices attending
quarterly court.
House bill providing for appeals from
recorders and mayors courts, passed
third reading, and the house adjourned.