Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1871-10-24
THE GOyERNOR,s ,rr~S.r,v

1hE UONEhNOk'SM MESSAGE
The late hour at which the first annual
message Of Gov. Brown was read yesterday
afternoon prevents us from giving that i'm
portant document the extended notice which
1t deserves. We can say, however, that we
beheVe that its tone is such as to commend
il TO the favorable consideration of the peo-
pie OF the State, and that its recommends
IONS VIII receive their cordial appreciation.
lie treats at greatest length and very pro-
perry, the subject of finances. 1t viii be
seen that reputation is distinctly
and emphatically repudiated. A min
ute statement of the character and
amount of the Indebtedness of the State is
given. The net bonded debt, is stated at
| $40, 493, 173. 60, Of which the principal is
SIS, 100000, and the remainder is interest.
The whole net debt, including Bank of Ten
nessee notes and floating debt, is placed at
S21, 16l ,590.p3. TLTTC
The propriety of taxing county and cor
| poration bonds in the hands of citizens of
the State is suggested, and the application Of
the same principle to State bonds is men
toned. The taxation of litigation before
Justices of the Peace is recommended, I'M
der Tie belief that an annual revenue of
$4,000 would be thereby yielded to the
treasury. A taxation of the bonds of trus-
tees is also favored. < sA'a'e.a ii s't-
/
| His Excellency is of the opinion that the
floating debt, together with the current ex-
penSeS Of the State Government, can be
paid by Jan. l, 1873, out of the taxes
heretofore levied but yet mcollected with
an asSessnet of fifty cents ON the hundred
dollars for the next year. This showing
viii be in the highest degree gratifying not
only to the people of the State but satisfae-
tory to her creditors. 1t is the opinion OF
the Governor that We can fund the accrued
interest on the bonded debt and resume
the payment ofinterest on the lst of January
1874, at the rate of fifty cents on the one
hundred dollars or even at less rate if the
necessary reforms in the revenue system
are effected and the new sources of revenue
made available Here, again, we have
matter of conglatulation, both to the PEG
pie of the State and to our bondholders.
The funding of all bonds and coupons
matured or maturing 10 LIST July, 1873, i
recommended.
The absolute necessity of some amend
, ments of the laws relative to tax sales an,
the assessment of property is distinctly in
sisted upon.
The necessity Of repeating the laws al
r lowing solvent roads to pay in past du
/ | coupons the interest on the bonds loane,
: them by the State is urged because the Stat
S is bound to pay this interest to the bond
), holder in currency, which must come iron
Y the taxation of the people. 1t is furthe
+ urged that the act of Jan. 20, 1870, to ALLOW
: Railroad Companies to retire their indebt
: edness be repealed or amended SO as to re
$ quire all roads which have not compile
n with its provisions to pay all accrued intel
|. est, as well as the sinking fund not hereto
e fore paid in. Ourrailroads received the mo;
n liberal assistance from the State, which wa
J. extended from time to time with LAWS
t prOdigality until thereby the State has bee
Y reduced to the very verge of bankruptcy
e The solvent roads viii we presume come t
r the help of the people in this their hour {
il need by promptly coming forward and pay
ing the interest due by them and retirin
: their Indebtedness, if any, under the act {
/ Jan. 20, 1870. If they refuse, the taxpayer
# can not longer suffer by Legislative indulgenC
p to them.
r Opposition to bringing convict labor int
n competition with the mechanical pursuit
of the citizen is clearly enunciated. A vi.
, orous enforcement of the law against erin
d inals of every character is pledged by II
: Executive department.
n To the other topics Of the message "
n have not time to allude this morning.
> The document is one which very en-
n phatically speaks for itself in clear and III
/ mistakable terms on all the questions g,
IS highest import to the people Of Tennessee
.. II will be sought for and read with avidIt
in every portion of the Union. We are col
d fident that its lofty tone, its wis
4 recommendations, and its genuine patrio
:. ism viii command the respect of all parti'
y and receive the hearty applause of IL
+ Democracy of Tennessee and the Union