, 1875-02-10
TENNESSEE,
/ State 1Yhich Is In Debt to The Amount Of
21,00V,0V0
And Which Finds Great Difficulty In Meet
Ing the Interest Thereon.

sr,rfn' Correspondence ef 7Tr f1ftnno 7,ribun,.
NASHVILLE. Tcnn., Feb. 5.--rl,ese las been
gtuwllg in TcnlleHece, since tho War. u m,El4ty
monster thai has at Inst assumed unwiciiy pro-
lurtIoi,s ui.l wears upon tic peoplo sit1 gall
ING oppression. 1t III
THE Mu:;sTEn pEET,
snd tho diretnl burden Of taxation. 1t has
grown year by yoar, aud waxe.l great. until nono
can sce through tito iabyrinthi,o nlazcs lntu
which the stA.o has gl,tod. It alis the thoughts
Of the people, for it is grinding tllom 10 tho
earth, and il CONSUMING their little ali. II liz the
subject tl,at comes up for solution by tho Lcsis-
laturc. 10 that body TIC peoplo look
for tho adoption of come means hy
which, thcy may obtain speedy relief.
Legislators have boen committed to low tasrs.
TO the slfictcAt eennomy. md to giving u tltfcr.
cnce to current debts over the lntorest Oh blatu
bonds.
Several calseH have combined to bring aba,t
tll:n ceasuless clamor of tlle ]ppuIaco. Tao dis
treahihE drought of last year loft u fearful it'll
rrcss upon the whole country in TehhehEco.
Many faruiurH, tailing IN tileir customary crops
~ore. left almost without subsistence. 1t not
pnjy destroyed thoir bollrccs Of revenue, but lett
them without supplies for tIeir immediate Use:
1nstuad Of transporting tie fruits Of their l.a.-
vtst to mafket they themselves wcro ni.le
dependous upon tue great Northwest. Tho
10 lie felt mora nn1 moro. The couutry Is bcins
DRAINED of money. where. in othor aud marc
rosnerotlg ycara, they furnished supplies To Ilso
holttA. alll kept up good circulation Of money.
Even logs have Dean imported IIcre frptu ILL.,
dana al1I Illinois, wlilo daily ysraius nrrivo loaded
with grain and proyendor FROM Central Illinois.
Thc large iarihB, that wero ouce source Of
pride to t4elr owncrs arc now only
AN 0SEltOus Eu1DEy,
no purchaser EXON fur smull tracts, which they
would be wiling TO part With at u sacrifice il
purchaser only could be fou1'l. Tie great
chatge Of the Interrogation llnH lcndered it next
to iil oEBb'e for farmcls 10 hEye their soil titled
so aA to nlke it productive.
And nuw the question Of all others, tho most
Important to I,e solved by the proscut l-egsIa.
tilro, ii to make some provision ur dihpoatlou Of
thu States bonded indebtedness. This Ans nl-
ready reached The extent OF @21 ,oGO,u00 which
bears an annual interest Of II ,.G0, G1n WIlcl,
prorot tom become roally Formidable when tl!o
poyerty-stricSen and ady-overb,.rlenol con-
Htton Of the State is taken Into consideration.
Tho Jauuary {i575} 'ntotcHt WIS provided for by
borrowing tws-tl,irds Of tho required unlollut.
1t waB M absolute necessity tliat tho Stnte
should borrow Ito money, anu yet she ga1ls lit
tic nr nothing by it, for this III cnty another
dott added to tic tremendous pilc which was nl-
ready compromising iutoreat. Tho Stata Treas
urer hayB that t!le borrowed srm cannnt bo ro-
pacad until the Int OF noxt July, wilen thcro
will bo moro Interest, to tho amount OF $3.50, 0,uuu,
due.
Tho poopls dread additional taxation, and Gov,
Porter advocated, in hia uleesaEe, that tl.cro 10
no ingrcase us taxation. Illih ,s the keynote Of
tho wislos Of tho people, and they have tho Leg
lhlatnre pledged to ECO to it tlInt taere is nu
more taxation put upon their shoulders. It IL
caHe Of
you CANNOT AND YET you MUTT.
1t narrows tho liuaHcial outlook dow, to very
hnall culnlasH, aud II scons woino tllal 1,sclesB
to exprct to bridge over tho troubled watcrs. II
it III done, it will require steady iaud and
MI unfang eye to steer tue State ouco muro
into prosperous haven.
Surprising that. i'll every department where 1t
is practicable, thcro be tho must rigid reform in
tila matter OF exponres s-oycrytlling cut down 10
tile lowest prRHble fgHteH,-yet tile siu1 hllni
Of $'25o. .000 only shows itself. 4 mere drop i'll
tho bucket.
1t IN Ill extreme case no mara taxes iesita-
bio, nhd tho e,tEtug down uE EXPENSES yielding
such small slim how in it 10 tu uIalagcI that
the difficulties may 10 metz Quo solution is by
the cnaGtlHont ON
stuHE EFFECTIVE REVENUE I.Aw
Tho oue i'll force at preacut IL full OF ohjec-
tions. and allows such latitude IN tho matter at
aBscrAIns and collecting taxes that Eroat p-s is
o.roliel'ccd through 1t. Tho County C>,1rtA-
toho slow. loavy, lttlargie bulirs-aro allowed
to elect tlieiE own members us Asseehoss. Tho
position pays them hut 4 ,altry h',n. but. tn or-
der tn 7nalntnn their Offices. they reEnato as-
Aossnonts luos" with regard to their own
i tho " we!I-bv.ns Bong OF tho s;tutn,-,naki,s
thom ut tlgnro fur boluw tller trua assessment.
Sometimes the ABscEsmont- -boukH arc unchanged
year after year. One country Squire, holding
tile position of AbscsHGr, obtains his pretlcocs-
sar's books. and merely .nnkes u copy. which he
prcsenH as his own valuation. T'al.a 1t happens
tllat, III so1Ee districts, Tho araeHsmens i!s not
varied for years, Wills tlo value Ut tho property
llas boon constantly tluctuatlHg. An inlniellse
vacuum IN the state 1rcasMry IN thu result from
thlH mode Ut uHncszng. Ile County Courts nre
responsible for le j''uccnrarieH, aud, In modify
ing llor revenue laws tue htate would 10 tils
gamer by dispensing with the services Of aacl.
lnics eltlrclv. aud authorizing tho election OF
County Commissioners in thui. htentl.
The otcr lonp.lsolo out OF this ditllcui,y-nnd
thoro il no help for its to
RAlHE THE TAXES
from 40 TO GO per rent. 1t III only through this
nleal,a tlt the July (lH73) and the January
(1B7G) una all hthas4uout interest cut. be paul.
A deat-lloH MAS struck ut tho interest IN
Tennessee bonds whon tho bill was passed re-
peal1ng tint section ct tho funding law which
luas'o i|,o interest = preferred payment.
Tho Supreme Court has hefcro it n cnBo for tile
decision OF which MI anxious public are louiinj;.
1t IL AZ totl1e validity Of tito ow lsslo lwar i-sno)
OF Tei'"easoo Bank notes, amounting ta 200 0on
Il Is believed that tho cause will bo
decided IN tic Affirmative and if so. these Lia,
now III tbs hands of kpcculatoiH, wllu bought
them for 10 aA. rs contB, vii! be soil to the tux
payers, who VIII 'lso them to oal,co their obllsa-
lions to tho btAIe, which, in turn, can Ia noli,-
1IG with them. nnfi Thus Ill additional .tetrlt in
tho payment of TIC fa4t-aceunlulatlng dubs will
10 created,
IL il uudcrstool that tho Court has already
come to aocision; hnt, for so,tlo reahon
oue1 Gu tho Yuhject. Uos.
IN THE GULF,