The Morristown gazette. [volume] (Morristown, Tenn.) 1867-1920, 1875-12-22


riod of eight years:
1855, sum Of assessments, $5.335.92
1867, % 8,753. 80
1868. $500. 90
1859, 9,752.22
1872 1870 :. %a :. i lt.a5s sSs -ss ss
1872, 1880. .46
1873, q ID, ,851.55
1874, g." i" 1890 90
To this must be added for money
received from other sources. $4.8l8.-
go. This makes a total of Slo5, ,7s5.
IA, assessed for these eight years.
an average for each year. the sum of
$I3. from which we now de-
duct the sum OF $2.856, required to
pay the interest due each year on
the bonded debt of the county. and
we have left the sum of $40 367.18,
which has been expended in the
county. aud as we have not made
any permanent improvements. we
may set it down that it has cost us
this sum to run the county, which, to
say the least OF 1t, is rather expen.
sive; and we would like TO see n bill
of items, for each year. But this is
not the worst of this matter. The
tax known as the railroad tax" Was
first assessed in the year 1867. This
tax is levied for a specified purpose,
to-wit the payment Of the interest
OH the railroad debt Of the county.
and the payment Of the principal Of
the debt !; and this being the purpose
for which the tax ia levied and coll
lected. payment is required OF the
people in money. Our railroad debt
is $4,000; even the interest thereon
annually being the sum OF 50. 400.
II the money collected from the
people had been applied rs the law
directs. to payment Of the interest
and in liquidation OF the principal.
or hal been put at interest on good
security to meet the payment OF the
bonds ut maturity, the result would
have been as shown in the following
table:
1s67-tax 81 424 ~ deduct % 400 surplus al 02& ~
q Interest on this sum for 8 years 49l. IS
1s68-ax 3D. 61s. 49, deduct s., ,4O0 surplus S1.2ls9
Interest on this sum for years 5Il go
l869-tax S. 357. 81, deduct 81 400, surplus S9T7 q
Interest on this sum for years ....... 35204
1s70-tax S. 294 G6 deduct g. 400 srplua sgA Gs
Interest on this Bum for years ss3 80
1S7l-tax S. 90 deduct 81 G00 surplus s. g5s 20
Interest on this sum for years e37, ,4S
Is72-tax s5 532S2 deduct 81 400, surplus S. Is2s1
Interest on this sum for 3 years -. -. SOS al
1sT9-tax s. 6SS S. deduct 81 4OO surplus s. IS
Interest on this sum for 2years....,. ass 90
1674-tsx s46a0.00 deduct 81 400 surplus 81 zoo 90
H4fR Foatu this Huu for M
is75-tax not known-estimated surplns 81, 10000
This gives us q balance of $23,-
358.34, which ought now To be in the
county Treasury or the bonds of the
county paid to that extent. Now. if
we make from this sum the liberal
deduction Of So, ,558.34, to cover cost
of collecting, losses. &C.. we have a
net sum of $50, 900. which, If it had
been properly applied in the pur.
chase Of our bonds as the law con.
templates, would have cancelled at
least $50. 900 of the $4,000 bonded
debt of the county. But instead of
this being done, the $4,000 bonds
still stand against the county unpaid.
and strong as it may appear, while
there has been surplus assessed
and coll ected over what was neees-
sary to pay interest during these
years of $1S. 1920, the county ofti.
cials have failed to pay the interest
as it fell due. And find one item
of $l25 paid by the connty as cost
Of suits prosecuted against the 1oun.
ty for the collection OF the interest
due on these bonds, and other judg-
ments bave been taken on the past
due coupons. some of which now
stand nnsatisaed, thus depreciating
the credit of The county aud placing
heavy burdens IN payment of cost on
the people. who have already been
placed. under extra bardens, as the
above table shows.
Again, if We estimate that one,
third of the county tax proper, is
paid in money, which viii be foand
to be below the a8nount; we ind
that these have been paid in the act
ual cost. During these eight years
the sum of sol, 246. So, being an aver
age for each year or sc. ! .405. .82, which,
after paying the interest each year
due on all the county bonde, left q
surplus OF $3.549,S2, which in the
eight years would amount to the sum
OF Sls. .396. Sc. Now patting the
charitable construetien onthe man.
agement Of the county finances, and
assuming that all the money collect
ed has been actually paid out in the
county liabilities, gross injustice
has been done the people, and d
favored few have reaped rich bar
vest at the expense of the people.
Il is a self-evident proposition that
If the county expends $40. 900 year
and Issues TO the people-lier credi-
toFs--county warrants for this sum
and LAYS q tax OF $4,000, with q
sum added to meet expenses of col
Ieeting aud contingent losses. that
1t the end Of the year, when all tho
taxes are paid, all the county war
rants viii be returned TO the treas
urv or the money would be in The
treasury to pay the warrants out.
standing and county paper would be
At par. and serve the people As me-
dium Of exchange. But the facts
and dgures shows that different pol,
Icy has been pursued. The. county
lax proper has been levied as q snn
insufficient to meet the current T.