Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1874-02-05
THE xAYoR's FIRST MESSAGE.

Mayor John League sent IN his frst
message last evening to the General
Council 1t is rather lengthy, and en-
tirely too concise to admit of a synopsis;
hence we viii only pass upon it in the
way of running comment. The full text
will appear officially in the LEDGER as
soou as a certified copy is furnished.
The first subject noticed is the financial
ouestiou. which is but natural, as the
Mayor is a man of figures, by profession
n banker, and in the habit for many
wears of mastering the most intricate
details of financial operations. He pre-
sents at once a full and comprehensive
statement of assets and liabilities OF the
citv. with the sources of revenue. The
situation is not the most hopeful, as the
combined rate of taxation, in the origl-
nal wards, is 81 in the 800 worth OF
property, and, in the new wards, 80 and
TO this must be added an additional tax
to meet the judgments already decreed
and temporarily held up. Mr.. League
shows that the bonded debt of the city on
January !, 1874. ~ ~
Floating ooo'ooI u
r..., 4,5s5, Os1 81
Total sSS s1S 90
The total assets are put down at... l,o4o'oio'OS
Leaving net debt of..............'. S'OSo'zoo -
This does not embrace the claim OF
T. e.. Brown & Co. Ivy w
OF which the city admits.............. lzO'VOO W
1t is shown in the list of assets that
the purchasers of the city's stock in the
Memphis and Charleston railroad owe
Past due debt 5 5s9 ~ 0o
Past due taxes si''lo9 W
OF the latter then one-fourth is due for
taxes prior to 1870. An interesting
comparative statement is made OF taxes
collected for four years and the costs OF
the several departments. The average
current expenses Of the last year have
been per month 1886, 43s 20. The Mayor
suggests that, with the aid Of the courts,
the city may collect her past-due taxes
and speedily liquidate the floating debt,
and urges that the suits commenced
against the purchasers Of the Memphis
and Charleston railroad stock be prose-
cnted with all possible speed. He
recommends that the city dispose of
some six hundred lots (bOught for taxes,
we presumed, and that the mortgage for
$4,000 on the Gayoso House be fore
closed, and that rents be collected on all
property recently acquired by purchase
at tax sales. The fact is cited that
the small property holders and mer-
chants are required to bear more than
a fair taxation, and he might have men
toned butchers, fruit stands and other
classes. The sinking fund, it would
seem, has been misapplied, and the
commissioners are kindly mentioned.
The Mayor very justly suggests that the
privilege tax or merchants, which IS
equal to the ad valorem tax, be abolished.
The city, it will be remembered. copied
the obnoxious features OF the State
law, and made it still worse by
requiring a payment of $26 privilege
tax, in advance even on the
smallest stocks, where the ad valorem
tax is only few dollars. The subject
Of the water-works and gas companies,
the Nicolson pavement, sanitary affairs
aud others receive a passing mention.
The great body of the message is devoted
to city finances. His Honor is opposed
to proclaiming any more bonds, to all
unnecessary expenses, and favors a rigid
collection Of taxes, the proper applica-
ton of the money and strict economy IN
every department Taken as a whole
the document gives evidence of ability
and practical views. 1t is apparent that
Mr.. League has given the affairs OF the
city very close attention, and that ne
means to do so. The exhibits which
accompany the message are plain ana
business-like, and should be carefully
examined by every taxpayer.