The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-01-09
TENNESSEE MUSINGS.
Politics and Finance i'm Andy Johnson's
Home-Radlroad Burdens-Crop Move.


ments.
NASHVILLE, Jan. L. 1874.
The political atmosphere here Is quiet just nOwv
though tie parties are arranging their forces for
the elections OF the present year.
ANDREW JOHNSON
has been with us for the last two weeks. His aims
and purposes have not been well defined, and the
leaders OF both parties disincllned to take him
up. AS an Independent candidate he can accom-
plish nothing. lie developed his fun strength in
the last election receiving about 200 votes. His
course embittered the democratic leaders to such
an extent that they will never afriliate with him
again. He is the first prominent politician that
has openly and boldly denounced the late civil
The republicans are kindly disposed towards Mr..
Johnson, but his hostility to General Grant drives
them from him. 1he republican party In this State
Congressional election but his star ia evidently
declining; he VIII sink between the two parties.
THE FINANCIAL PROSPECTS OF THIS STATE
funded interest amount to $50 000,0 A revenue
law was passed at the last session Of the Legisla
which will amount to nearly 81, 500 o0e. The reve-
nue. assessed Will be sufficient to pay the interest,
sne ocss are ue
an act OF the Legislature, reserving the money
to pay the July interest. and are issuing warrants
ket at discount. This state Of things win not
long exist. as the people will become ciamorous
lot Cnc yIucuJ u JueIT CL8IIuSs Iu6 VI
the ponds and the funding OF the accumulated In
terest by the last Legislature have become exceed
ingiy unpopular. The annual
INTEREST OF THE STATE DEBT IS INCREASED
to $500, 600, and it Is looked upon o scheme OF
the b0ndholder and the railroad m0nopolists. The
bonds were secured by statutory mortgages on
roads; aud they having been sold. the
purchasers were anxious to. be reheved
and the bondholoer wanted interest on his
and that OF the Governor and his friends. who
were warm advocates OF the measure, the phi was
passed. The present state officials nave lost the
confidence OF their party, and there Is none SO
poor as 40 them reverence" unless IL DC an once
holder or seeker. There Is an unwinlngness on the
part Of the great body OF the people to repudtato
the debt OF the State; but the
FAILURE OF THK CROPS,
to some extent, and the tightneos Of money cause,
much discomfort BY the present Revenue law,
horses cattle, &C., are taxed which were hereto
fore exempt, and consequently al classes OF per-
sons are brought 10 feel the laws burdens. THIS,
necessarily renders the poor man dissatisfied, and,
I much fear Its ultimate eject upon the honor
and credit edit. o. the state. The entire RAN.
sold, amounting to about $4,000, 600 which was
secured by statutory mortgages, and from which
only about 900 has been realined, leaving,
the debt to be paid by taxation. Nothing but Inn
migration and increase In the value OF our lands
will save the State from reputation OF her debt
Our city has recovered from the sc0urges OF tho
BUSINESS HAs RESUMED t
again Its wOnted swing. Cotton Is coming IN In
vast quantities, but is not bringing remunerative
prices, as 1t costs she producer at least IL cents
but the farmers are hopeful and are preparing for
the coming crop and looking for better times In the
spring.