Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1874-03-16
OUR STATE FINANCES.
Important Letter from State Treasurer
MOrrOW-Interest Payments
Commenced.
No Regulators in the State Worth
Speaking Of-The New Issue
Splendid Prospect.

From the New York Financler, March 7th.l
The treasurer of the State has written
the following letter, dated February
9th, to gentleman of this city:
"The State commenced this month
paying the interest due in July, having
a considerable amount of funds on hand,
on which we are getting no interest.
We are prepared to pay interest on every
bond that has been registered, on the
new or funded bonds, at rebate of one
half of one per cent. per month, being
the same rate the State pays. With the
funds already in hand the treasury will,
by the last day of May, or June at far
thest, have every dollar in hand neces-
sary to meet the interest, and all from
the revenue collections proper. Tennes-
see finances never seemed so bright as
at present. The people are pleased that
we are about to get straight once
more. In my position see
citizens from every county, and
no sentiment even squirting toward
reputation could muster enough men
in Tennessee to form regiment. All
agree that, having started afresh ca our
new financial career, there must be no
turning back. l predict that the next
Legislature will be even sounder on State
credit than the last one. 1t is expected
that next week will determine hestatus
of what is known here as the new issue
bank of Tennessee money. The case,
which is set for next Monday before our
supreme court, seeks to make the bank
of Tennessee receive these notes, issued
by her in 1861, in payment of debts due
the bank. No question is before the court
that affects the revenues of the State.
In fact, there are nos enough solvent
debts due the bank land cash assets)
to absorb every dollar of the new
issue, SO that it could not come In for
taxes. The proof shows that this new
ISSUE was not issued for war purposes, but
in the usual Way-in discounts, etc.
and there is no doubt but that the bank
should take it for its debts. Thousands
of dollars (the amount outstanding is
less than nine hundred thousand dol
lars) are held by parties owing the bank,
and will be paid IN at once if the ques-
ton is decided in their favor. The as
sessment of taxable property in the
State for 1873 shows an increase of about
fifty million dollars, while the executive
officer thinks the assessment for 1874
will show an additional increase over 1873
OF fifty million dollars. The State viii
continue to pay interest before maturity,
with the discount at the rate of six pei
cent. per annum off, so that if you OF
your friends have any July coupons
let them send them on at once.
The Richmond (Va.) NesOs of thesixth
instant says that on Saturday a young
Iadv named Miss Mary VintZ, residing
in Greene county, was seized with dizzi
ness, fell upon a lounge, and to all ap
pearances died in about half an hour
The funeral services took place at Ger
man church, four miles distant, on Mon
day, but as the body had not becom'
rigid, the coffin was allowed to remain
in the church to await results. 1t is un
der the care of watchers. Every two o.
or three hours purple, pink and scarle
spots appear on the face and disappea
in a short time, but there is no appear
ance of modification setting in. Th
joints are timber, and the skin as soft a
! q person in health.