Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-09-22
ruE RArr OF srArE rAxAr1oN.


~The revenue of a State should always
be measured by the actual demands Hpon
her treasury. Our lew should be Just
sufficient to defray the actual expenses OF
the State Government, economically ad-
ministered, and pay the interest on the
public debt. | heartily endorse resolu-
ton adopted by late convention Of the
Democratic and Conservative party Of Put
nam county, where the State has nos built
a mile OF turnpike, nor expended a dollar
in aid Of railroads. 10 is as PILLOWS:
Resolved, That while we are In favor or our
State meeting and payingOh all her Just liabili-
ties as soOn a. practicable, vet We are opposed
% burthening an depressing the people by
heavy taxation, and are in favor Of only sucn
rates OF taxation FOr the present as may become
necessary 20 pay OF the interest," ON our State
debt and meet the current expenses Of the state
under an economical administration Of the
State Government
This has the ring Of the Old-fashioned
patriotism Of the days of Jackson and
White, Gruudy and Bell; Of Cannon and
Polk and Jones; OF Aaron v. Brown and
Foster; Of Campbell and TrOusdale. It is
an eI.unciatiOn sf pure, disintereSted prin-
ciphs. dictated by 4 sincere love for the
welfare Of Tennessee. You perceive from
these authentic statistics, that, with the
exception Of bonds issued to the capitol
and the Bank of Tennessee. the whole
debt Of the Stale grew out of the States
and 10 internal Improvements. and, while
much Of this debt has been improvidently
and unwiSely contracted, vet the benefits
derived by tie STATE from her internal i'm
prOyement policy cannot be estimated in
dollars or by figures. Under that policy
The whole railroad system of Tennessee
sprang .niO existence ard was fOstered into
its present magnificent proportions. Many
of tie most gifted sons Of the State lent
their influence 10 the policy. It was
not party measure. Men Of all phases
of political sentiment cOnspired, through
this policy. 10 elevate and vitalize
Tennessee from a sicklS existence. The
markets Of the world were closed upon her.
Trade languisbed. Her sons sought new
fields OF enterprise, where labor and energy
met their reward. No attractions were
presented to invite immigration. Our towns
aud cities were in 4 dying condition, but a
new era dawued when the State determined
10 loan her credit to construct thOrOughfareS
Of trade and commerce. The principal IN
itiIl step was taken b. the General Assem-
bly, Of 1872. That act gave new life to
the State and quickened everywhere the
energies Of trade and commerce. From
tnilL ustte 70 1oVJ' uiiurf tic luSpifdIlOuS
and effects of that law, the wealth of Ten
neSsee swelled from Sol ,246,6S6 10 $685.
800, So, an increase of 1922, 657, 206--mOre
than double. During the same period the
population increased over two hundred
and the other results Of the sys-
tenn are that We have now about sixteen
hundred miles Of railway, worth over one
hundred million dollars, more than one
half Of which will soon be subject TO taxa
ton, which will add two hundred thousand
dollars per 2nnum 70 our revenue
The large majority Of the bonds out
standing and not vet due, We're issued dur
ing the four administrations next preced-
ing the war. Those administrations issued
bonds as follows: