Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1873-03-25
rHE srArR REYENUE LAWS.

THE STATE REVENUE LAWS.
The Legislature will adjourn to-day
without having passed any law to in
crease the revenues Of the State, except
70 Gxa tax of ten cents on the hundred
dollars. which shall be applied to school
purposes. In this the people will say
amen, but we doubt whether they wall
amen so fervently when the Funding bill
IL read and explained TO them. Ihat
bill, as il passed, was not an issue IN the
last gubernatorial campaign although
Gov. Brown said upon various occasions
tbathe favored an improved revenue sys'
tenn and the restoration ofthe State credit.
Comptroller Pennebaker, in his report,
recommended the funding Of the bonded
debt of the State in a uniform series oil
bonds. and the Governor advised in his
message to the Legislature, delivered
January 3, 1873, the funding of the
bonded debt and all the well ascertaied
liabilities of the State except the hoat-
ING debt. He recommended an im'
proyed assessment law, which was
passed, and made suggestions not fully
carried ont in regard to new sources oil
revenue that could be made available.
With such improvements in the revenue
system, be expressed his belief that
the present rate of taxation would
Weld sufficient revenue to deiray the
expenses Of the State Government,
and to pay the interest on the
funded debt. The Governor had a
laudable desire TO improve the credit OF
the State abroad during his administra-
tiou. but however much we admire the
ability. integrity and state pride OF his
Excellency, we greatly fear that he will
vet have cause to regret that be brought
the subject up in such a shape at this time.
Many unpleasant things have been said
on both sides which we know will be re-
GREETED when the excitement passes
away. The hints that corrupt influences
have been used with the Legislature are
unworthy ofnotce u Mess putin the shape
of charges aud sustained by something
stronger than mere prejudice or hearsay
Many of the most earnest advocates OF
the funding scheme are too well known,
for sincerity of purpose and integrity OF
character, to be affected by any idle ru'
mors. Perhaps all acted in good faith.
Let us admit this, in all charity. But
we have to say that the bill was rushed
through with undue haste, and that,
while all the funders had an opportunity
to make their speeches without Interrupt
ton, the previous question was carried
and was rigidly enforced by the over
confident majority, and that many OF
the opponents of the bill, including the
Shelby county members, were thus
cut of and deprived from making
their carefully prepared arguments.
This illustrates the high pitch of feeling
which prevailed and accounts for the
bitterness of the minority. The Ava
lanche of this morning says exactly
what we intended to suggest, and which
we adopt to-wit: That when the Legis-
lature meets in special session the fund
ing bill be repealed That is the best
thing to be done now. 1t is practical
absurdity to fund an immense debt
without providing either for sinking
fund or the payment of the seml-annual
interest. The funders cannot consist
emily vote for an adequate increase Of
taxation aud face their constituents.
They dare not; and it is certain the anti
funders wiU Roti Let this question go
to the people once and be made an
issue of the next election Of members to
the General Assembly. 1t is going TO
the people in any event. and will be
made a leading issue in the next general
canvass, aud when the people are heard
from there viii be more political graves
to dig and quiet little professions NOV
ing to the rear than ever known one
year in the history Of the State. Not that
the people object TO paying their just
debts, but they would have a rigid dis
elimination made, and that by more
than one, or even three men, before they
voluntarily submit to double the present
high rate Of taxation. There is but one
remedy for the evils which these gentle
meu have wrought for themselves and
their people. and that is the passage Of
an act sbon. three lines long repeating
the funding bill; next, adjournment
sine die.
OUR DECEASED wIFEs SISTER.