The weekly herald. [volume] (Cleveland, Tenn.) 1876-1888, 1877-01-12

Balance in the treas
Dec. %, 1916, 4 1892 10
LOAN ACCOUNT.
In January, 1915, a loan of 5000
600 was made in New York to
pay the installment Of interest on
the State debt then due. As this
loan fell due, it was paid in part
by revenue receipts, and by eff
fecting other loans, Except for
renewals of part Of this original
loan, no money has been borrow
ed for any other purpose,
INTEREST PAYMENTS.
The interert on the State debt
paid since July, 1871, is as follows:
In 1874, July and subsequent
thereto, $j4l,SS7
In 1873, 104,655
In 1876, $3.50
Paid by New York Fiscal
gent for 1874 420,G90
Paid at treasurer's Office
for 1871 I2l,197
Paid by New York Fiscal
Agent for 1875, 59S,280
Paid at treasurcr's office
for 1875, 2Oj,375
Paid by New York Fiscal
Agent for 1916, 5l7,560
Paid at trcasurer's Office
/ for 1876, 1910Si
At the expiration Of some thir-
| ty days from the time The State
/ began to pay the coupons in New
York, in September last, payment
was transferred from there to
Nashville, and is still going on
here at the Treasury.
Concerning State taxation, the
Treasurer says:
by reference to the tables Of
receipts it will be seen that Trus
tees have, up to Des. 20, 1876, |
paid into the Treasury the sum off
$74, 4,094.14, and the receipts from
Dec. 30 to Jan. /, 1871, from the |
same source amount to $l0,195.13, !
making total of $S4,S89.S7. This |
leaves due and unpaid on Jan. /,
1877, of the levy of 1876 (amount- |
ing to $l,072, ,03l.3i) the very large |
sum of $9S7,14l.4T.
ut will also be rembeyed that |
| the railroad tax for 1876 is yet TO |
be paid, and will reach the Treas
ury early in 1877, Then a consid |
cradle part Of the privilege tax
for 1871 will come in during the |
next few months. In addition to
these reliable sources Of revenue
| to meet current expenses, We
have several hundred thousand
dollars Of "delinquent taXes"-a
large per cent. OF which will be
collected. Then there will be a
handsome revenue derived from
the lease OF the Penitentiary,
should such disposition be made
of that institution.
"From these different sources,
! there is no sort Of doubt, we
should be able to run the State
government, for twelve or eigh-
teenmonths without the levy Of q
dollar of State tax for the year
1877, unless it should be decided
that interest payments are to be
continued.
"In view Of the great financial
distress Of the people Of the State,
when the revenue of whole coun
ties remains unpaid just because
there is not money enough in
them to pay with; when it is
struggle for the people to provide
board and clothing, much less pay
heavy taxes, the demand for re-
lief is so great rs to force prompt
recognition.
Under these circumstances,
the suggestion is respectfully Of
fered that. unless there is to be
an adjustment or compromise of
the State debt, it would be wise
on the part Of the General Assem-
bly, to say to the people Of the
State that we will levy no tax
for the year 1877, and thus give
them at once relief that will be
practical and substantial Unless
we are going to pay interest on
the bonds, the revenue now due
and levied for previous years will
meet ourevery need aud carry
US well erinto the year 1878.
There is no need chat a dollar be
yond our necessities as state
ebouId hn pollprtp1 There SbOull