The Milan exchange. (Milan, Gibson County, Tenn.) 1874-1978, 1877-05-17
LETTER FROM COL. DAY.
An Account of his Stewardship
His Views ON the State Debt
Question, etc.
Hr,fnor Dr Mas IL VI

xuc8NA0Ms CtLs
HUMBOLDT, May IA, IT.
Editor Exchange:
In free Government like ours it
IL the duty of the peoples servant to
render an account of his stewardship,
and as have not been able since my
return from Nashville to meet my
fellow citizens in public council, and
as am not accustomed to public
speaking, ! propose through the me-
dunn of your spicy journal, to give a
brief synopsis of the leading measures
adopted by the Fortieth General As
sembly of Tennessee.
If the number of bills introduced
in our Legislature is any evidence Of
the amount of good accomplished for
the people I certainly think the For
tieth General Assembly of Tennessee
is entitled to more than ordinary
credit. There was introduced during
the session 5efween elevenand twelve
bills; and ont of this enormous mum,
Der only one hundred and sixty nine
passed and became laws; large ma
iority of which were local bills. l
propose, however, to address myself
to such laws as win most likely be of
interest to my constituents, and with,
out further predatory remarks ! will
hasten in as brief q manner as possible
to the task.
The ten per cent Conventional ln~
terest law was repealed without any
penalty for a greater rate of interest
than six per cent, except that impos-
by the old law, which / believe is a
forfeiture of the usury: The repeal of
this law will certainly add much to
the relief of the people, for [ have
been long since well satisfied no peo-
pie can pay ten per cent and prosper.
The farming interest is not paying
more than three per cent upon capital
invested, and the farmer who pays ten
per cent for money his ruin is only a
question of time. The adoption of
this measure, | believe, will induce
money holders to invest in lands and
manufacturing enterprise, and there's
by build up our country and contrib
ute to the prosperity of all.
The repeal of the Assessment law
has certainly met with general favor.
L WAS an ardent supporter of this
measure, and if there is voter l have
the honor to represent that was OPP
posed TO therepeal of this law, | have
never heard of him.
The bill extending the time of pay
ing the taxes for 1876 to Oct. 1877
1 opposed. believing there was no re-
lief in any such measure. The adop-
ton of similar law in rs afforded no
relief to our people.
A bill was passed declaring the
mode and manner of valuing the
property of telegraph companies for
taxation. and of taxing sleeping cars.
This law will afford some relief to our
people end meet with the requires
ments Of our Constitution.
An act was passed to amend an act,
entitled An ActDeclaring the Mode
and Manner of Vuluing the Property
of Railroad Companies for Taxation,
passed March the 10th, 1875" and to
adjust the rights of the State and rail-
roads, &c. 1t will be remembered
this act of rs imposed tax upon
railroads of one and a halt per cent.
upon the gross earnings. The Su-
preme. Court decided this act uncon-
stithtional. The present law provides
that railroads shall be assessed every
two years. Assessors are appointed
by the Governor, and it is made their
duty to estimate the value of all en-
gines. cars and rolling stock as be-
longing the entire road, upon which
the same is operated; but not such as
belong to other roads. am not able
to say what. amount of revenue this
act will yield to the State, for the rea.
son that all the roadsare exempt from
taxation for twenty years / think, and
but four of them have been in exis.
tence for that length of time, and be-
side. the tax they have already paid
under the requirements of an act de-
clared to be unconstitutional will have
to be refunded, especially the excess
they have already paid.
A law was passed "to amend an
act approved March 13, 1875" (chap-
ter 36) to punish executors, admins
traitors, guardians and trustees, for
trust funds to their own
use and benefit, and failing to pay ov-
er same. Such protection every min
or should be entitled to, and
this act will doubtless deter
men from robbing helpless
children.
A bill was passed for an Arbitration
Court, and, although I am opposed to
creating new offices. yet, as there
was an absolute necessity to provide
some means to dispose Of the vast
of work that has accumulated
in the Supreme Court, voted for the
bill.
An act was passed to deprive the
State of the power to borrow money.
This bill met my hearty approval.
Debt is q curse to individuals, state
and nations, and we can neyerb an en-
tirely free people unless we are tree
from the shackels imposed by debt.
What glorious state of affairs would
exist if we owed our fellow>man moth
ing but good will. If such a state of
affairs existed we might soon expect
one universal brotherhood in the fam
ily of man.
An act was passed giving the
Chancellors of this state concurrentjur-
isdietion with the Circuit Court Judges
in granting writs of ceriorari and
removing causes from
Justices Court TO Circuit Court. On
official report from AZ counties shows
thai our Circuit Courts cost the state
aboat Sc. 600. while the same num-
of aaunfiaa saakas our Chapcpry