Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-01-09

and that the assets of the State on bon
: account are IS, 81, ,S95 %, leaving a.
excess of liabilities over assets nt $40,
> 090, 503 IS, The liabilities on floating
! or current debt account, amount to 81
U35 80 40. The assets are - 80 TO4
The assets exceed the iabilit Is 81, 30,
1853 76
The outstanding treasury warrant ac
count January /, 1873, was Sl76, ,S34 u
1t is now 1888 800 80, showing a reduc
ton Of Sl93, 544 % This, too, notwith.
standing the amounts issued in October
1873, and in April and October, 1874, for
interest on school fund, for poll tax, fOl
public schools, for insane ssylums IN
East and West Tennessee, and for July
interest on public cdebt-aggregating the
sum of s 9S 15S 93 None of these
items have for several years past entered
into the account Of warrants issued
some OF them never before. The
loan account as reported January l,
| 1873, was $500, 900. 1t is now only SEA
! 900, showing a reduction on this state
ment Of S235, 900. But the amount re-
ported January l, 1878, was evidently
only an estimate, and fell far short Of the
| fact. The books OF this Office show that
during the months of January, Februa-
ry, March and April, 1873, there was paid
on loan account, $3.50, ,5l5 -, and that
| during the same months tn re was bOr-
rOwed on loan account, ,$23S All 0S, show
ing dlmiUutiOu of S92 09S OF in the
loan account. This last sum deducted
from the SSO0,OO0 reported to be out
standing January l, 1878, would make
the total outstanding loan account, May
/, 1878, when l went into office, S2O7,.
9Ol SO. During my incumbency there
has been paid on the loan account, S27S,-
O53 80. There has been no new loan
made and but one renewal, May 4. 1872,
Of $40. 900. Adding this $1,000 to the
amount above stated as due May 1, 1875,
and we should have as the outstanding
loan account at that date, S2l7 ,90I SO
There has been paid since May !, 1873,
S27S, 053 80, or $50, Isl 81 more than there
appeared from the report January l,
1873, and the receipts and payments of
the first four months of 1878 to be due
Yet SOS, 900 is still due on loan account,
making total discrepanyo of SIPS, ,157 81
in the loan account. This is accOuntei
for by the defective or negligent planner
in keeping the books of the office several
years ago, which prevented the total of
the loan account being brought forward
into Comptroller Pennebaker's report.
By reducing our outstanding warrant
account, the people Of the State have
been to some extent relieved. BY re-
ducing our loan account, the State has
been benefited to the extent of the in
terast saved.
The statement of receipts and dis
buTsements show an excess Of receipts
over disbursements during the time
covered by this report, amounting to
1928, 545 II, Notwithstanding the heavy
payments on account of interest on
State debt, public schools, and loans,
and notwithstanding the statement oil
receipts does not include payments in
bonds or coupons made by railroad COM
panies, or the purch aseTs Of railroads.
Tue total taxable property of the
State in 1878 wa S30S OS9 73S being an
increase over 1872 of 81, 4,5l5 4S0. The
four counties of Davidson, Hamilton,
Jefferson and ROane have made 10 re
port of taxable property for 1874 E'U-
mating the probable amount in these
four cOInties the t1tal taXable property
for 1874 i, $3.50, ,533 $50 being an increase
over 1872 OF Sl6 65g 3O7, and decrease
from 1873 Of SIS 556 l73
The amUunLOf tax reported by collect
Ors of privilege tax, from October
1872 to October, 1874, is S642 917 o.
The amount Que from delinquent
officers, prior to January l, is $40
077 43 The property tax for 1874 il !
81 ,l5S, l34. Owing to tine lsteuess o.
the day when the collectors received |
the textbooks, and the general depres |
sion in business, and great scarcity of
money, the collection of the taxes OF |
1874 has not been vigorously pressed |
Only S99, ,S7S OF the amount for 1874 has |
been paid into the treasury, leaving |
balance due for this year, of 81, ,05S .256
Inis Is not properly delinquency, |
for none of the collectors have yet had |
the books the time allotted them by law,
for the collection of taxes. The balance |
due for the year 1874, added 10 the de-
from revenue due prior to |
January l, 1874, makes the total amount |
due from non-collected taxes 81, l,S28,- |
233 A