Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1873-02-07

peh.auon atainht them, 70 the atsrcfate
The option chosen do not think good on
for the city, and Il certainly Is not benehcia
one for the schools. as, when forced 10 sell
they realize but about any per cent. Of tn
nominal value. and whom hypotheealed, as
earn n large portion OF them are. the school
have 20 pay heavy rats Of interest. thus. n
fact, greatly lessening the yearly amount In
Deeming the past policy IN regard 70 this mat
ter an unsound one, hope II will not, ans
recommend that il DO not, again exercised
but, II the amount be really needed BY III
School Board. that a special tax be levied and
as collected, paid over Ia cash 70 the Board.
The question Il often asked: "llow Is ittha
Memphis Is numbered with 20 large bondee
debt, and has 50 little TO show for ity"
succinct answer Is; Because those whe. year
ago, controlled her affairs for some years
ignored. reversed or set entirely aside pruden
and sound financial principles. aud madly
plunsed the city into the vortex Of baseles'
II credi,. fuller answer will be found in thu
statement Of the principal items involved. al
| cOllated in the " explanatory statement"
4 The revenues Of a State, county or city are
It's life blood. The financial success Of either
depends on the regular supply Of this indis-
pensable element Of nutrition. In our cty'i
system We depend altogether upon taxes, II
having no other source Of income, Being thus
entirely dependent upon taxes, their non-col-
| lection. or n long delay in collection, places
the city in false position--false as 70 its real
| sOlvency-thus unjustly and injuri0usly affect
/ ing its credit. Our laws are very lame rs to
| the prompt payment Of taxes when due, and
equally so in enforcing them afterward. They
are also lamentably deficient in that they
unduly prOcrastinatu .he time as 10 when the
years taxes are due and payable. In New
| York and some other Of our principal cities,
| the taxes Of any given year are due and paya-
Bile. and mostly paid in, by the first day Of
! that year. With us, though nOminally due
on the LIST Of July of that year. nothing can be
done toward enforcing them till after the
IL. - NaNI
city. as TO realizing her resources, fully one
year behind others ostensibly, but owing TO
its inability to compel defaulters to pay
promptly, as other cities have it in their
power to do. actually placing us eighteen
months TO two years behind them in that re-
gard. Is IL, then. TO be wondered at that
Memphis has been and is harrassed and lack
ing in means for meeting her current OK
penses and the interest on her bonded debtY
In this connection, / adopt, as eminently
wise and Just. some remarks of our late state
Comptroller. Ed K. Pennebaker, Esq. in his
report TO the SSth General Assembly Of this
writer en- the subject, taxation is a dcpriv-
alton, but it can be demonstrated that there
is no act which can be performed by a COM
munity which brings in so large a return to
civilization and general happiness-improyed
roads, public health and general education"
Mr.. Pennebaker says:
Timidity about popularity never had n
resting place in the minds Of statesmen, and
the feeling has ceased to influence even poll
tieians in their conduct. for the growing in
telligence of the people demands truth and
candor. Public debts cannot be paid nor
governments carried on without the use Of
money. and money can only be obtained by
taxation on property. Laws then which will
force every man to contribute his share to-
ward the support Of the State cannot be other
wise than popular. Ger
tainty in the collection of income and rev
enuo is indispensable for pnnctuality in the
payment of private and public debts. The
collection of revenue under our laws is not
certain, and taxes. instead Of being charge,
are rather considered voluntary contribu-
ton for the support Of State officials. This
illusion must be dlspelled, or,we had as well
give up all hope Of punctuality in the dis
charge Of our obligations. The United States
easily collects its odious income and excise
tax. because the people know if ii is not
promptly paid the penalty will be imposed. |
Our whole law on the subject needs careful |
revisi0n.'
Memphis has in her list Of property owners
a very considerable number who pay taxes |
promptly, but unfortunately. many of her |
large property holders are not only not prompt |
in paying, but use all means in their power 10 |
staye of TO the latest possible period her Just i
claim on them for their fair pro rata of the |
public burthen. Justice to the prompt tax |
payers calls for more stringent law against /
the delinquent class. and it is hoped and /
looked for by the punctual that the present |
Legislature will pass such law, as much of |
the State s embarrassi arises from causes
similar to those that aflict the city. If those
indebted to the city-as fairly and honorably
bound to pay as those who have already done
se-will, even at this late day, come forward
and liquidate the city's claims on them. it
Will at once relieve her of all embarrassment
by enabling her TO meet every current obliga-
ton due. An. examination of the report of
the. City Comptroller and of the list of such
delinquent tax-payers as owe over four hun
dred dollars each, will verify this statement.
In that list, regret to have TO state, will be
found the names of some of the largest
property owners and some Of the most solvent
men and Institutions OF our city; some owing
taxes reaching back for period of from FIVE
% hiteen years, and varying in amount from
S2jOO to over S17 600; some Of them, even
while SO dilatory 10 paying the citY's dues
their equal share Of the city's expenEes-are
the readest TO find fault with and the
loudest to complain Of any short Jennings on
the part Of the city, to the extent even of ex-
pressing an exaggerated sympathy with the
p0oT hremen, police, laborers and other city
while they particularly bemean
lie improvements in their own neigh
borhood, forgetting TO remember that for
years past they have not themselves con-
tributed TO the only fund applicable
Tor those objects. Ont Of s9Il ,6T7 4s due the
,ity for taxes on December 81, 1872. these large
1elinquents, as will be seen By the list owed
The city. sl6S.90l, thus SHOWING, ct q glance
that 1t IS not owing to the smaller property
owners that the city Is in default TO any one.
Atmy direction the old, and may say ne
elected. tax books have been carefully exam
ned and their arrears collets1, by which. and
he measures thereafter adopted 70 put those
bat S2e0. 900. if not more. will be saved to the
,ity, lkeT much Of the real estate sold in
w, and struck eA 70 the city, deeds have
,See Sith as 9 lss aE Pssg2s a
apse Of sixty days. 10 each case, from date Of
ecordlng. during which time the holder only
an redeem; the Mayor Is authorized 10 quit
lain any such property 10 any one who will
Jay the taxes, cost and charges due the city
hereon upte the date Of the quit claim. Quite :
large amount Of back and lOng-due taxes
AVE t5pg been realized to the city with the
prospect Of e9Hunuous large increasing
during the current year,
In regard to the city assessments, complaint
: made that property is valued too high; that
{ serves as a guide 10 the county and STATE
sssFs0rsi and that, while IN the county out
ide of the city, and in other parts Of the State
eat. u is value, 10 tAe eity i Il Is sssessed al
= nearly up 10 its full value, II throWg az M
Tue, because heavier proportional, burtheu
n owners Of city property BY causing them % I
ounty taxes. If such be the case. Il would
eem 70 warrant property owners in the city In :
eokipg legal redress against the State and :
ounty on tie ground Of unequal taxation. OF
wner Of real estate ia IL Iihdls hso nc right Z
D complain while he insistl on the capital 81 :
be merchant, the stock in banks and other
money At interest, and all other
ersonal property, being taxed on their fun
alue Of onb hpndFed eents IN The dollar, a.
squired BY oHr STATE lgVs. Viewed in rs 4,
,gal aspect, the city assesSorg ere net pnlg =
Istihed. but are compelled. bY the languagb 6
the statute. 10 assess property az IT, fair n
ash value; and. doubtless, in the exercise Of T
fair discretion. they have aimed In all cases \
ct Z oyer-estimate. but have inclined rather .
take the l.ipimum instead Of the maximum
value A. presenisd 70 their judgment. r.
oiwithstauding this tendency VI lQuiencT fo- u
ards the property holder. AZ between him - Il
. individual md The city 4. /. nnrInralInu. | Z.