The Morristown gazette. [volume] (Morristown, Tenn.) 1867-1920, 1875-01-13
Governors Message.
ABSTRACT OF DOCUMENT.

We give large space this week TO
Governor Browns Message, as our
readers will be anxious to know
what his views are, and forecast as
far as possible from his sentiments
the action of the Legislature. In
the main, it is an able State paper,
but we have not space this issue to
point out what we consider it's mer-
its or dement's.
Senators and Representatives.
The fruits of the Legislation of the
last five years have manifested
themselves in an Unprecedented re-
duction of the public debt, and in
the settlement of important and
complicated questions growing out
Of the States connection with her
internal improvement policy. Our
credit has been restored. Increased
activity in all departments of trade,
and in the Industrial pursuits of the
the country gave promise of an
early restoration Of the State to her
ancient prosperity, until collapse in
the money centres, and unfriendly
seasons chilled for awhile these san
gnine hopes.
TIE EXECUTIVE DEPARTMENT
The Governor says there has been
q combined effort to reduce the ex-
penditure of the public money on
the part Of the officers in their sew.
eral departments, and he confidently
believes the State government is adj
ministered as economically as can
be done under existing laws.
FINANCES
You will observe, from the Comp
troller's report, that the value Of
property as assessed in 1874, under
the assessment act of the session of
that year, is $35, 215,480 more than
in 1872, yet the returns for 1874 as
compared with 1879, exhibit a de-
crease Of $18 556,173.
The revenues, by the valuation of
1873, at a rate Of four mills, If the
current expenses of administering
the government are not reduced by
judicious legislation, are scarcely
sufficient, unaided by arrearages
from previous years. to meet the de-
mands upon the treasury. re-
spectfulIy suggest that the remedy
clearly and plainly is, first, in legis-
lative retrenchment second, in in
voking new sources of revenue,
which will not create increased bur
dens upon the private property of
the country.
ASSESSMENT OF PROPERTY.
The Governor says the Assess
ment Law falls far short of meeting
the requirements, and recommends
the substitute previously suggested
by him to the former Legislature.
that is, Board of revenue asses
sors in each county, appointed by
the County Court, all valuations to
be made upon dispositions.
COLLECTING TAXES.
Under our system the county rev.
enue pays a double commission
one to the collector for receiving,
and another to the county trustee
for paying ont.
The Office of county trustee being
constitutional, cannot be abolished
without the slow process of chang
lug that instrument. The Office of
tax collector is statutory, and with
in your control. Abolish the latter
office, and make the county trustee
the collector, and allow him only
one commission.
SOURCES OF REVENUE.
The Governor recommends such
legislation as may lead to an effcc-
tual mode of taxing all corporation
property in the State that suits be-
fore Justices of the Peace should be
taxed a light tax, levied upon the
execution of bonds payable to the
State, would add materially to our
revenues.
Another considerable source Of
revenue, not heretofore made avail
able, is Tennessee bonds. Although
declared taxable by the revenue law
of the State, very few of them are
reached. If instead of assessing
the bonds as now, and collecting
revenue upon them as apon other
property, the Treasurer we're re- |
quired to retain the tax when he
pays the interest, this revenue would |
be saved, without cost to the State. |
FUNDING OF THE PUBLIC DEBT |
With the report of the Comptrol- !
Ter will be found q complete state
ment Of the execution of the act of |
March 18th, 1873, directing that the
past due bonds and coupons, matur-
ing on or before the Ist day of JAN
uary, 1874. be converted into the
new series of six per ceft bonds,
provided for by that act.
The securities redeemed unGer |
this act, are registered and cancel
led, and await the inspection Of
committee to be appointed by the
General Assembly, which it is hoped
may be done without delay.
A statement Of these securities is
herewith submitted
Six per cent bonds. .....-..$ sos, 900 90
Five and quarter per cent
bonds. l,OUO w
Five per cent bonds. ...... 624 800 90
Thirty dollar coupons. 4,953, $50 90
Twenty-Five dollar coupons 1T $50 90
In addition TO the above interest \
upon bonds that never had coupons
but which may express contract,
bore interest to maturity, has been
allowed TO the amount Of S18,475,-
76, and cash has been paid to the
to make even bonds to
he amount of 81. 814.64, making an
aggregate funded $6.222,000.
COUNTY W0RK-HO USES
The Governor frvors the estab-
ishment of county warehouses for