Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-10-27

1 Memphis AVdlancne.
Whenever the AUqlaRche mentions
the funding ring, the NASHVILLE
UNION AND AMERICAN puts on Its
war paint and brandishes its little
tornahawk. The explanation of this
NAV be found In the fact that John G.
Burch is State Comptroller, and that
he owns or represents the majority OF
the capitol stock of the UNION AMI
AMERICAN. The other day the Aua-
laYlche happened to say that.
Armed with the present assessment
law, the State Comptroller is seeking
to force from the people, by adding to
the face of taxable values, the add
tional revenues demanded by the fund
ing ring, but which the Legislature re-
fused to provide by increasing ad valo-
rem tax to so or zoe, as desired by
Gov. Brown. Thus he has already
forced the face values of real estate
from S272, 100000 to 1920, 100000. I'm
less the next Legislature mterpose, this
outrageous, unjust increase VIII be
further inflated to S400,000,000. This
is the programme. 1t is necessary in
order to enforce the provisions of the
funding law-that rich legacy which
Gov. Brown viii leave to the people of
Tennessee.
The UNION AND AMERICAN replies
that it has favored material modifca-
tions Of the assessment law, especially
in its inquisitorial features" that
Comptroller Burch ''has no voice or
part in the appointment Of assessors,
nor could he have any, except through
collusion with the ninety-three County
Courts throughout the State, which are
elected by the taxpayers direct. Our
contemporary talks as though each
assessor was subaltern, at the beck of
the Comptroller, like so many Federal
marshals under Attorney General
Williams. The comptroller has no
authority over the assessors, or the as
sessments they make, than has any
other citizen" Also, that "the closing
insinuation above, that the present
Governor or Comptroller has any
means under the law for forcing assess
ments up to S400,000,000 next year,
after their term has expired, is alto
gether too ridiculous for comment"
Let us inquire into this. One Hobbs
was elected State Comptroller by the
Legislature. He vas conspicuous only
for stupidity. The chief work in hand
was to supervise the funding of the
State debt in the interest of the fund
ing ring, whose moneyed lobby had
done such efficient work. Hobbs was
induced to resign. 1t is charged that
he walked out for $4,000. John c.
Burch who, as candidate for Comp
troller, could muster only one or two
votes, was then appointed by Governor
Brown, an advocate of the funding
bill. Col. Burch is and was very in
innate friend of Mr.. R. T. Wilson, of
Wall street, Tennessee's New York
financial agent, and generally under
stood TO be the chief of the funding
ring. It's not likely that any one OBJ
noxious to Nh. Wilson would have been
permitted to step into the official shoes
Of the gifted Hobbs.
The Legislature refused to increase
the taxation rate that the funded debt
current expenses of the State
Government, appropriations, ETC., could
be annuallymet; yet the men who voted
to fund at par bonds costing a ring of
spectators only fifty cents, thus agree
ing to pay the ring twelve per cent. on
the actual investment, knew that with
out such increase the provisions of the
funding bill could not be enforced.
What was the programme? True,
Comptroller Burchdoes not appoint the
assessors. But it is his official duty to
construe the assessment law. He
began this work by issuing
circulars for the guidance of assessors,
till many of the newspapers dubbed
him ''John Circular Burch." 1t was
these constructions that have already
forced the assessed values from S272,-
100000 to S320,000,000, accompanied
by the suggestion that they could be
to 800, 100000. The object
was to thus obtain by indirectiOn what
the men who betrayed the people by
selling them to the funders dared not
attempt openly.
These assessed values have been
forced up in the face of universal out
cry against nlgn taxes. Inc JaA-Dur-
lened people have discovered that, al
though unable to increase the taxation
rate, the State officials are laboring 10
accomplish the work of paying the
funding ring twelve per cent. on the
money invested IN bonds by turning
the assessment crank. To illustrate:
property heretofore assessed at $4,000,
md yielding at 40 cents $40 in taxes,
IS through the agency of constructions
# the law assessed at $4,000, and
made to yield S50-allf for the benefit of
The funding ring, whose debt the Leg
stature solemnly obligated itself to
make the first debt to be semi-annually
paid out of the State Treasury debt
hat takes precedence of appropriations
TO keep the inmates of the insane and
blind asylums from starving, and of
every other public obligation.