Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-04-22


diatOn OF Tennessee bonds is now the
declared policy Of the APPEAL" This
assertion is the "declared" falsehOod
Of the Avalanche. The APPEAL has
discussed and will continue to discuss
the ability Of the people to pay forty
or fifty millions of dollars OF State
debt, most Of which was contracted
in violation of law by a set Of vii
lains who propose to fatten 'On the
hard earnings Of the taxpayer. The
anxiety Of our neighbOr about the
state debt, reminds US Of the fellow
who vociferoUsIy proclaimed "the
natiOnaldebt niugfbe paid! ItsHALL
be pald!" and thrusting his hand
deep down in his pocket, continued,
show much is it? Pupsy it myself"
An honest man is generally slow in
! paying a dishonest debt and the State
Of Tennessee is in no great
hurry to pay a debt which
she knows to be the product
J Of fraud and rasoality. Bankrupt
debtors are not careful in taking care
Of their "credit, and Tennessee, while
her resources for payingare constantly
diminishing and her debts steadily
increasing, cannot pay a dishonest
debt if she would, and would not if
she could. We insist that the State
should Iquidate her just debts as
rapidly as she is able; but it is not re-
pudiatiOntO tell the taX-p yer that mil
lions Of the State bonds were issued in
violation of law, are held by Williams
who were parties to the sWindle, and
thatit is for them TO say whether they
are willing to sweat and toll in order
that rOgUes may roll in luxury. The
people Of South Carolina are burdened
with the same misfOrtunes which have
cursed Tennessee, and they declare
that they cannot pay the mountain
hight Of debt which has been piled
upon them by just such swindles as
rolled up the debt Of Tennes-
see. The Cincinnati Enquirer fur
nishes US with the indebtedness Of
South Carolina, and the means by
which it was contracted. Here it is;
read it, taxpayers Of Tennessee, and
ask yourselves, can they pay it? Can
we pay, will we pay debt still larger,
contracted by the same party, and for
the same dishonest purposes?
Average taxes for ten years be-
lore l5UO .-....-. e43l.00O
The year 1870 being onIy..--.. $4,000
The State taxes for 1865 were. L.S58.OCO
Taxable value Of State property
IN ..--...-. -......4 400. 900. 900
Taxable value In 57l-.-.... ....l S4, G00, 900
In 1870 the taxes were not quite
$4,000 0 on a taxable basis Of about
$500, 000, 200, whereas the taxes Of 1868
amount to S1,85S, 600 on a basis Of only
SlS4,00 900, so that while the proper
ty Of the State was reduced one-third
its former value, the taxes are in
creased nearly I've hundred per cent. {
l85s Expenses OF the legislature. $4,000
1905 Expenses OF the legislature. 90 600 ,
1883 Executive expsnses.- bO00 !
1865 Executive expenses-..-.-. 10000 !
Lo5o civil eNpenses----............... $1,000 /
Looo CiFh eXpenBes-.--..-............ 2I8.COQ
The State debt, which was but s.. {
DOG, 900 in 1860, has since been run up to ,
BIC, 600, 900, which, when we consider :
ne difference in the valuation of I
property in the two States, is equal to
nearly 800, 00O, 1000 for Ohio. The !
and county taxes this year must
mount to between four and i've mill i
ions Of dollars, to be collected from T
fl the small white population in this J
Unfortunate State. Every day more !
nd more real estate is being put upon
he delinquent tax list and attached for /
ale, bat with no bidders, for who s
would want to purchase property
where its profits would not begin to !
its taxes. One-sixth Of all the
and IS already up in several counties. s
'outh Carolina appears to be doomed, I
-ndeT the new reconstruction regime, !
o b same ruin as the hOurishing 4
stands Of Jamaica and Hayti, in the I
Vest Indies, which, from the highest
OF prosperity, were reduced in q
9w years, under negro administra- T
ions, to utter ruin and degradation. n
he finest plantations were deserted .
nd the islands became, to a great OK. v
a perfect waste. In their history
may see the future Of the once z
onored Palmetto State, unless the a.
rise in their might and expel y
be charlatans from power, who, bv a.
he bayonet alone, are casting this n
condition Of things upon the a
Of what should be one Of our
nest States. g.
~
A Washington dispatch saws at 4.
Felve O'Clock the House, bysa strict y
9rfv vote al az 10 "a has odonho6 ~.