The Pulaski citizen. [volume] (Pulaski, Tenn.) 1866-current, 1876-04-27
For the CITIZEN.
State Finances.

III NV AOAtA1AAAtA@e4AAOh ~ -e~=N
week / attempted to compare the
total of the estimate Of assets made
by the present Comptroller for the
year 1876, with the like total as
shown by previous reports, from
which 1t appears that the deficit
amounted to the sum of $607, 654
per annum. In other words, that
the assets of the State, realized dur
ing 1876, would be $607.654 less
than during the year 1872, 3 or 4,
when the taxable property and rate
of taxation the same as in 1876.
We propose to examine in detail
the several items of the ComptroI
ler's estimate, in order to trace the
reason of this deficit.
In his table of assets the first
item of assets is, the estimate of
amount that will be realized from
unpaid taxes previous to rs, to be
collected in 1876, $4,000
The question arises, what was the
amount of taxes previous to rs un-
paid on 1st of Jan, 20. The Comp
troller has furnished no figures, but
taking the report of Jno. C. Burch
as basis, they could not have been
less than S77O,O77. Now is it pos
sible that of this amount only fifty
thousand dollars can be realized,
not quite per cent? If so the col
lection laws are fatally defective, or
the execution Of them neglected.
But this amount of unpaid taxes was
more than seven hundred and sew
enty thousand dollars, owing to the
fact that the stay law of 1875 had
postponed larger amount of taxes
than ever before known, and be
sides, the administration of Jno. c.
Burch was signalized by an unpre
cedented collection of back taxes
never before known. This item
should have been at least 100000
or % per cent. of the gross amount
THE NEXT ITEM IS
Taxes of 1875 to be collected il
1876, $741,7O2. This is perhap:
well enough, but the reader will Sc,
that no estimate is made of the take:
Of 1876 that will be realized during
that year. About 80 per cent. o.
the taxes levied reach the treasury
during the year for which they ar,
levied. About 100000 of the ta1
of 1876 would he paid into the
treasury during that year. Adding
these two items, one of$2OO,0OO ant
one of 100000 to the Comptroller.
estimate, and we have the total esti
mate for the year increased $500,
600, and aggregating 81, ,7O2, IN
stead of 81 POI, 7O2 as stated by the
| Comptroller; and these figures agree
with the actual figures as given il
Burch's and Pennebaker's reports
To this we may add for the tax Oh
railroad property $4,000, which is
a new source of revenue, and some
uncertain and unreliable amount
for the dog tax. In addition to al
this, we should add the sum Of
100000 tax upon the Mississippi
Central, Mississippi and Tennessee
and Memphis and Charleston rail
roads. These roads are required tt
pay the interest on their bonded
debt into the State treasury Thu
7 bonded debt amounts to SO, 300,00t
in round numbers, and the annua
interest to 100000 in round mum
bers.
This sum should be realized il
t money and not in past due coupon
and bonds purchased by these rail
road companies at 80 to 40 cents Oh
the dollar, while the State has tn
= interest on their bonded debtto pa
In cash out of her own treasury.
What then is a proper estimate c
the assets Of the State on the 1st @
, January, 1877?