Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1871-10-12
WANTS.
UNION AND AMERICAN.
TENNESSEE LEGISLATURE.
SENATE.

WEDNEsD AY, Oct. 1.-THE Senate met
at 10 A. NJ, Speaker Vaughn in the chair.
RESOLUTIONS.
By Mr.. Porter-That a joint committee
be appointed to consider and report to this
General Assembly for its consideration and
action bill relative to the government Of
fire and life insurance companies doing or
proposing TO do business within the limits
ofthis State, and TO whom all matters relat-
ing to this subject shall be referred. Lies
over.
BY Mr.. Porter-That the Deorkeeper of
the Senate be instructed to prepare a roster
of this body, setting forth the age, place of
nativity, whether married or single, occu-
patton, district represented, counties con-
stituting same, place of residence in the
city of Nashville, postoffice, etc, and have
one hundred copies thereof printed for the
use of the Senate.
Mr.. Porter moved a suspension of the
rule to consider the resolution at once.
Carried.
Mr.. Gibson moved to amend it by adding
the words 'the number of members who
chew tobacco and drink whisky" Lost
ayes o, noes IL.
Mr.. Staley moved to amend the resolution
by striking out the word sage" suggesting
that there might be some widowers in the
Senate.
Mr.. Warren moved an amendment to the
amendment to strike out also the words
''married or single" ~ Bad
Both motions were lost, and the reSOlu-
ton was defeated on a vote-ayes noes 13.
Mr.. Sewer offered a resolution to lend
stand of arms to the University of
the South in Franklin county. Lies over.
By Mr. McConnell: Requesting the Com
mittee on Charitable Institutions to enquire
and report as to the probable cost of pur-
chasing site and building an Asylum for
the Blind. Adopted under a suspension of
the rules.
BY Speaker Vaughn: That our Senators
in Congress be instructed, and our Repre-
sentatives requested to procure such Con-
gressional enactments as viii place the wild
ows Of pensioners who were married after
the war upon the same footing as those who
were married before the war, and such leg
islation as win prevent any discrimination
against pensioners on account of their SYM
nathy in the late war between the States.
Lies over.
NEW BILLS.
The following bills were introduced and
passed a first reading:
By Mr.. Coulter: TO repeal section 9, JOB
of the Code, and to regulate appeal cases.
BY Mr.. Windle: To repeal section of
f'an act TO amend the road laws of the
State" passed oath February, 1870.
BY Speaker Vaughn: To modify and
construe an act passed March 10, 1860.
BY Speaker Vaughn: To abolish the
office Of Tax Collector, and to provide for
collecting the taxes by county Sheriffs and
their deputies.
REDUCTION OF TAXES.
Senate resolution favoring a reduction of
taxes was taken up.
Mr.. Gibson (Republican) said the one
great financial problem to be solved by this
Assembly was whether they should levy
sufficient taxes to pay interest arising on
the State debt. For his part, he was in
favor of postponing that payment for the
present, and merely collecting sufficient to
meet current expenses. He was no repudi-
ator, but the postponing of the payment Of
this interest would injure no one, and was
nothing more than the holders of the bonds
had to expect. These bonds were issued by
authority of the first Legislature
assembled after the Wa. The Republicans
were then in power, but there was also, at
the time, another party in the State numeri-
cally gleater. The Democratic party,
through lis papers and speakers throughout
Tennessee. constantly, repeatedly and openly
declared that they would consider the ques
ton of repUdiating these bonds when they
came into power. The purchasers knew
this, and that time would come when the
Democratic party would get into power.
He had always opposed the issuance of
these bonds, and in this respect stood aloof
from his party. Now, it was well known
fact that the purchasers of these bonds DIS
counted them by looking forward to their
reputation at a future day, and thus OBJ
tanned them at from 80 to 60 cents on the
dollar. Those bondholders, then, had no
Just ground of complaint if, in view of the
financial embarrassment of the State, the
shortneSS of the crop, and the heavy taxa
ton on the people, decided on reducing the
taxes aud deferring the payment of the
interest on these bonds. 1t was a part of
her financial policy to collect sufficient taxes
to pay the current expenses of the govern
ment, and no more, till the State should be
in a more prosperous condition.
Mr.. Sewer said that most Of those old
railway bonds sold for 90 cents in the dollar.
He, like the Senator from Campbell, (Mr.
Gibson) was opposed TO the latter issues,
but he did not approve of repudlating the
liabilities of the State. He would 60 as
far as anyone in reducing the burden of
taxation, consistent with an honest and
sound financial policy.
Mr.. Mcconnell (Republican) would ask
the Senator from Campbell if he recognized
the validity Ct those bonds; or if he thought
the State would lie any better prepared next
year to pay the accumulated interest than
they were to pay the accrued interest this
year. He (Mr. McConnel) was opposed to
reputation in any shape. He believed the
people of Tennessee were willing and able
10 meet their Liabilities, and if he thought
he represented a constituency that was OPP
posed to the payment of honest debts, he
would resign and 90 home tomorrow
Now, what would be the effect of this res
,Olution before the House? Why il would
be practically declaring to the Finance
Committee that they were in favor of re-
pudiation. He would therefore oppose it.
Mr.. Hughes said he was satisfied tha
One-half of the Taxpayers of the district ht
represented would be unable TO pay tn,
taxes this year unless they were reduced
He did not look upon such reduction or de
ferring the payment of interest Il
bondhelders as leading to reputation
These men were men Of means and the,
looked more to permanent investmen
than to prompt payments of interest. HI
would therefore support the resolution.
Mr.. Merritt thought gentleman coul,
very safely ote for the resolution before til
House without committing himself to any
thing. II simply declared tha, the take
should be materially reduced if practicable
He supposed everybody was in favor G
that. ear
Mr.. Ridley said he would vote for thi
resolution that the people Of this Stat
might see that there was disposition o
the part of this Assembly TO reduce the bun
len of taxa ion that was weighing theI
DOWN. -r' .a
Mr.. Warren said be apprehended that th