Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-03-27
ANOTHER PROrRsr.

ANOTEER PROTEST..
We have this morning another protest
fom the anti-funders. 1t was the same
which they attempted to get spread upon
the journals, but witch the House refused
10 receive. by an overwhelming majority,
many Of the majority declaring, in language
more emphatic than polite, that 1t contained
statements which we're untrue. The at
tempt to create the impression that the plo-
testants were cut off from debate after three
days discussion, will recoil upon those of the
gentlemen who Intentionally FILTERED away
so much of the time of the House for the
purpose of defeating important measures.
The most important matter ia
this protest is the statement
obtained from the Treasurer, which, by he
way, we find as editorial in Memphis
paper. 1t will appear somewhat strange to
the people of Tennessee and TO the finan-
cisl world thai the anti-funders should 60
to the Treasurer, in whose Office there is
no statement of the Indebtedness of the
State, rather than to the Comptroller
where the statement of the indebtedness is
kept. 1t may also appear somewhat
strange that the Treasurer should give this
statement, which he says sis made entirely
from the report of the Comptroller" in
stead of RENTING these gentlemen to the
Comptroller AID his books. 1t is to this
ex-official statement that we shall devote
our attention to-day, calculated as it is to
injure the credit of the State.
The estimates and tables furnished by
the State Treasurer are well calculated to
produce an erroneous impression as to the f.
nancial condition of the State. 1t is so ar
ranged and stated as 10 produce the impress
sion that an annual revenue of nearly four
millions of dollars or to be more exact
S, S54, $4,000 will be necessary to pay the
annual expenses OF The State government
aud the interest uron the public debt. As
opposed to the basis upon which be has
framed his statement we present a table
carefully taken as to its figures and basis
from the report Of the Comptroller. 1t will
certainly be sufficient TO convince the most
skeptical that full justice hiss not been done
by the Treasurer of the State to our inan-
cial conditions:
The Comptroller's report shows bal
ance due from Tax Collectors, on the LIST of
January, 1872, of. 81 ,oSb, 542.OO
And he estimates the loss and
costs of collection at 20 pr ct. 337, 3OS.OO
Showing an available bal
ance Of. ............. Sl,349, z34.UO
From this deduct the amount of floating
debt due lst of January, 1913, as shown by
Comptroller's report, to-wit:
Warrants outstanding. S476,834 Y
| Loan account. 100000
Tennessee money. ........... 100000
Unsudited salaries and other
dues. IOU,OOO.OO
Overpaid interest 1,2S6.60
1858, 121.S2
And we have balance from
assessments heretofore made
of.......................S 396,112 6S
From the assessments for 1873
rating the taxable property
of the State at S350,000,000
and the ratio of taxation be-
ing 40c on the 500 we have 81 ,400, 900 90
Privileges for 1873. .... 100000 90
Total. 100000 90
Deduct for loss and cost of col
lection Is per cent. 100000 W
and we have a net revenue OF s., 1OO,OOO w
To which add surplus from
1oIZ. oSO,lIZ 10
and we have. .s2,O96,1l2 6S
Out of which is to be paid the
expenses of the State Gov
eminent for 1873, the sum
of ..................... 100000 90
Leaving q surplus from the
tax Of 1873 and present as
sessments. ...............s1, 496,112 6S
The same assessment for 1874
will yield q net revenue Of. !, 100000 %
As above, making total. s., 1876, 112 66
Out Of this is to be paid ex-
penses State Govern
ment 1874. S6OU,OOO w
And interest due in July,lo74 GIG, $50 90
And interest due in January,
1875. ........ 1880 co
Total. ...,...............S2: OBJ, 500 90
leaving a surplus available revenue Of ST..
1G3,6l2.6S, after the payment of the inter
est for July, 1874, and January, 1875.
In this statement the debt upon which
the State will be called to pay interest is
estimated at S23, S75,l54 81, Of which
S2,512, 800 is the school-fund. This calcu-
lation is based upon the idea that under the
Assessment Law as passed by the present
General Assembly, the taxable property of
the State will amount 10 S850,0OO, 900, and
the friends of the Assessment Law are
confident that such will be the result; but if
it should only amount to $500, 100000, q
simple calculation will show that iG will pay