The Pulaski citizen. [volume] (Pulaski, Tenn.) 1866-current, 1876-02-24
THE WAY TO PAY.
The State Financial Cues
tiOn Solved.
The State Debt Paid Without
Grinding the People.
The Only Way Out and the Best
Way Out.

w eAJ OANs
Speculations and plans and sug
gestions as to how the State is to
escape reputation and pay her
honest debts have puzzled and per-
picked writer's and left readers in
doubt and in the dark to this good |
hour. 1t is not to be disguised that
if the State attempts to pay her
regular expenses and the interest
upon her debt in anything like a
reasonable time by direct taxation
that the tax would be so high that
it would amount almost to the ruin
of the people. Yet we are one of
those who believe that if direct
taxation were the only means by
which we could accomplish this end,
it should be levied, whatever it may
be, however much it might be. We
have plan, however, that will avoid
all this, be just and equitable to all
pay the State debt and be a source
of revenue above her demands, and
serve the double purpose of making
revenue for the State and of retain
ing a large amount Of capital within
the State that now goes to foreign
parts. 1t is simple, just, plain and
constitutional, and is simply this:
Let an extra session of the Leg
islature be convened at once for the
purpose of modifying and amend
ing the assessment laws so that
lands all over the State, regardless
of the improvements that ale upon
them, shall be assessed at their real
value per acre. That is to say, if
two 100 acre tracts lie contiguous
and are worth ten dollars per acre,
let them be assessed at 81, 900 each,
though one of them has a $4,000
residence on it. Then let compe-
tent men value each mans house,
furniture, stables and other proper
ty generally insured, and issue to
him a policy Of insurance for two
thirds the value thereof, with all
necessary conditions as used by in
surance companies, payable by the
State, the premium to be fixed at a
rate less than that demanded By in
surance companies; with this special
condition, that when the owner
takes out policy upon his prop
erty with any other insurance COM
pany, his contract with the State is
to be void. Then let the State pay
when she loses and collect the pre-
miums as they fall due and apply
them to State purposes.
That is an outline of the plan we
propose, and can there be an objec-
ton to it? The amount at which
the property is valued is not sufli-
cient to induce a man to destroy
his property, and he feels when he
is paying the premium that he is
getting something back for his
money. Under this plan the State
would do a larger insurance bust
ness than any company ever did,
and it would have the effect to retain
in the State the millions that now 90
out to foreign insurance companies
Is it any objection to this plan that
you make a man insure his property
whether he wants to or not? 1t is
but another way to collect a tax
from him, and you make him pay
that, and this has the double advan,
tage, that you not only benefit the
State. but you benefit each man, a
a cost little above the rates he nov
pays; and the burden will fall upoI
men who have the most, if burden
> it is, who area able to pay it, anC
who are now paying it to foreign
: insurance companies. Is there
constitutional objection to it
Where is it and what is it? W,
consider the plan feasible and prac
ticable, and believe that it is tn,
; best and only way out of our trou
bles. 1t will meet with opposition
from chronic croakers, but we be
lieve the masses will like it and tina
men of sense will see its possibility
its practicability, and its absolute
necessity. What says the press
If there should be constitutions
objections they can be easily re
moved by an amendment submitted