Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1874-08-22

The rate Of taxation paid by Mem
phis in 1870 for all purposes, ifassessed
throughout the State, would pay the
State debt in one year.
Those communities most burdened
by taxation would find butrelief, even
temporary, from a reduction in
THE RATE OF STATE TAXATION.
The revenue of State should al
ways be measured by the actual de-
mands upon her treasury. Our levy
should be Just sufficient to defray the
actual expenses of the State govern
ment, economically administered, and
pay the interest on the public debt. |
heartily indorse a resolution adopted
by late convention of the Democratic
and Conservative party of Putnam
county, where the State has not built
mile of turnpike, nor expended a
dollar in aid of railroads. 1t is as fol-
lows:
Resolved, That while we are in favor Of
our state meeting and paying of all herjust
liabilities as soon as practicable, yet we
areOpposed to burthening and depressing
the people by heavy taxation, and are in
favor OF only such rates of taxation for the
off 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-fash-
ioned patriotism of the days of Jack
son and White, Grundy and Bell Of
Cannon and Polk and Jones; of Aaron
V. Brown and Foster; of Campbell
m-o,-1.lo IL = Of
pure, disinterested principle, dictated
" sincere love for the welfare of
Tennessee. You perceive, from these
authentic statistics, that, with the ex-
ception of bonds issued TO the capitol
and the Bank of Tennessee, the whole
debt of the State grew out of the States
aid ACKNOWLEDGEMENTS. to And, while
much of this debt has been imprOvI-
dently and unwisely contracted, yet the
benefits derived by the State from the
internal improvement policy cannot be
| estimated ia dollars or by figures.
Under that policy the whole railroad
system of Tennessee sprang into exist
ence and was fostered into its present
proportions. Many of the most gifted
sons of the State lent their influence
to the policy. 1t was not party meas
ure. Men of all phases Of political
sentiment cOnspired, through this pol
icy, to elevate and vitalize Tennessee
from sickly existence The markets
| of the world were closed upon her.
| Trade languished. Her sons sought
new fields of enterprise, where labor
and energy met their reward. No at
fractions were presented TO invite im
migration. Our towns and cities were
in a dying condition, but a new era
dawned when the State determined to
loan her credit to constuet thorough
fares of trade and commerce. The
principal initial step was taken by the
General Assembly of 1S5l-52 That
/ act gave new life to the State aud
auickened everywhere the energies Of
trade and commerce. From that date
| to 1860, under the inspirations and ef-
iects of that law. the wealth of Tennes-
see swelled from s20l ,2l6 CSC to SI93,-
500. .S92, aniacrease of So, -,69l ,2D6-
more than double. During thesame Pc
riodthe population increased over two
hundred thousand, and the otherresults
of the system are that we have now about
sixteen hundred miles OF railway, worth
over one hundred millions dollars,
more than one-half of which will soon
be subject to taxation, which will add
two hundred thousand dollars per an
mum to our revenue.
THE EFFECTS OF THIS GRAND SYSTEM
are more striking in the rapid tribes
| by which Memphis reached her present
proportions. Her population in 1850
was {, ,i27 in 1850 it was 2z643. Her
wealth in 1850 was 81 600, 900, in 1860
it was $2l.500O00 In decade the
population of your city increased over
threefold. and your taxablewealthnear-
CONCLUDED ON FOURTH PAGE