Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1876-03-25
10 PAY. Oh NOT 10 PAYi


Unfortunately for those who indulge |
in ill-natured filings at the advocates Of
State credit they leave no room
for any other inference than that they |
themselves are the advocates of uncon-
ditional or modified reputation. Did
we advocate reputation in any form,
we should insist that il be absolute and
unconditional, because to repudiate
half the debt would insure the full |
measure of dishonor and only half the
pecunlary profit of a clean sweep. To
save money at the cost of honor will
have the same effect upon the State
which the same course would have
upon an indIvidual-loss ofcredit, fol-
lowed by iistrust fatal to future hope
of pecuniary assistance in the hour Of
need.
1t is not true, however, as charged,
that those who insist upon the payment
of the whole State debt contend that
it can be done on 40 cent tax, after
meeting interest and current expenses.
Their position, as we understand it, is
that the debt must be paid because the
State is able to do it, and because hon.
or demands it-leaving the rate of
taxation to be determined by the
amount annually required to pay the
interest and current expenses. But
before such rate can be fixed. with any
degree of certainty, every available
source of revevenue must be made to
pay its fair proportion Of taxes.
The crisis is one which demands the
exhibition of the most enlightened pa
triotism and the practice of the most
rigid economy, and there must, in addi-
ton, be perfect concert Of action be-
tween the administrative and legisla-
tive departments Of the State govern
ment 10 order to derive the greatest
amount Of revenue from the property
subject to taxation. If the State be
worth six hundred millions, as we have
seen it stated, a fair assessment on that
basis will make a vast difference In the
volume of revenue; but if assessors, at
their own option, depreciate the value
of property to about half the amount
above stated, it ceases to be strange
that the tax fails to meet current ex-
penses and pay the interest on the
debt. And unless the Legislature does
something to prevent this rapid depre-
ciatiOn in the value of property, as
shown by the assessors books, it is idle
to hope that higher rate of taxation
will supply the deficit, because that
higher rate will be urged as the cause
of proportionate depreciation in the
immediate future Nor can it be long
before this cross purpose between the
law and those selected to execute it,
will be followed by disastrous results
the State will be bankrupt and the
people dishonored.
What is needed to be done in view
of the crisis is to enforce fair assess
ment of all property subject to taxa
ton, trim exemptions down to the
smallest point; hunt up new sources of
revenue--for instance, the consumption
of liquors distilled in the State-and
then, with the lights before the legis-
lature, it can safely adopt a sliding
scale Of taxation, moving up, or down.
as necessity may indicate. The impa-
thence of the people under the burden
they now carry is due in our opinion,
not more to the weight of that burden,
than to a want of confidence in those
who enact, and those whose duty it is
to interpret and execute the laws.
Want of confidence generates discon-
tent, and discomfort breeds demagogues
who glory in political schisms, hoping
that the storm of popular excitement
may lift them to positions unattainable
in times Of harmony and safe counsels.
Hence the questions of high or low
taxes? the payment, or prepayment
of the State debt2 Hence too, the
question-who's to blame for not pay
ing the interest past due2 The true
answer is that the people are to blame
for electing incompetent lawmakers,
and this is the root of the evils COM
planned Of But the demagogue fiat
tiers the people that they have acted
wisely, and that the fault lies in the
legislature, or in the Executive, or
anywhere except in their own ignor-
anee of their most important interests,
or criminal Indifference to the means
whereby those interests may be most
effectively advanced.
We are for the payment of the State
debt because it is the only honorable
solution of the financial conundrum,
and because the State is able to pay it;
but in dealing with the subject, we see
no wisdom in singing out this. that,
or the other department as the scape-
goat of condition of affairs resulting
from q general inefhciency in the ad-
ministration of the State government.
Who struck Billy Patterson? is a query
of far less importance than the ques-
tion-where shall we find the skill and
ability to heal the wound inflicted by
the blow2 Criminstion without dis
elimination, is unjust and impolitic,
and it should ever be borne in mind
that bare suspicion is no warrant for
grave and direct charges, nor should
acts of inGiscretion be accepted as po-
sitiVe proof of corrupt motives and
criminal intentions.
ALTHOUGH the Centennial is clear
ly the mercenary speculation of ring,
yet the South is interested in it as a