The Morristown gazette. [volume] (Morristown, Tenn.) 1867-1920, 1877-04-04
TAX Bills.

-
put into operation in the several
counties OF the State under the act
of the 39th legislature, the popular
verdict will be against them. and
that their legislation will be con.
demned as hasty, not to say Ieck.
lessly inconsiderate of the public
economy.
At the first blush many viii no
doubt applaud Legislature which
proposes. and actually provides to
run the machinery of the State gov
eminent upon one-fourth of what
the people had been required to pay
before but when they discover their
error-the popular clamor will be
anything but pleasant to the ears oil
the authors Of the delusioa. Ten
cents on the hundred dollars worth
Of taxable property, sounds we'll, as
an alternate for forty cents, as it
J SIOOi uHNCI AHC lAAC toSSSSlAOh "a
laws, but when the tax payer is call
ed upon to make up the deficiency.
or to meet the next siep-upward in
State taxes, he will wish the thinkers
las senator RagIand called them,)
of this legislature had not medd!ed
with the matter Of taxation at all,
or had at least looked an inch or
two beyond their noses in regulating
taxation.
We may be wrong in our calcula-
tious in this candidly, we
hope so, for the sake Of the tax-pay-
ers, and for the credit Of The legisla-
ture just adjourned. But we believe
the sentiment Of the people will be
found with US. in our fear that. in
their effort TO release Tic pressure
upon them, they have over shot the
marx, and perhaps done more harm
than good If they had put down
the rate Of taxation one haiR-if the
bill they passed over the Governors
veto had only made the tax 20 cents
on the hundred dol1ars.-there wculd
have been q larger feeling of relief
in the public mind, we verify be-
lieve, than as it now stands. Men
would have regarded it as somewhat
a fixed thing-a joyful thing. too, to
have half the burdens of taxes lifted
from their shQnlders at one time
Yes, that would have been relief ia=
deed-but TO take off more. with an
almost certainty that the next legis-
lalure - or some. perhaps, call
session of this one-wi!l have to
put all, or most Of i, back aga'n,
has an ominous look about it that
unhinges the joints Of popular
confidence. and sets mems minds at
unrest again. Gentlemen, We fear
the popular verdict viii be against
your wisdom. while fully according
to you the best Of intentions in the
premises.
And then, there was view of the
question which statesmen ought 10
have taken, that looked beyond The
States boundary. There was the
effect upon the mind Of the financial
world. which. as true representatives
of a proud commonwealth, legisla-
tors should have more carefully con-
sidered than we fear was the case
in this important matter. II Smacbs
ofrepudiatioa, 10 say Tie least Of it.
Because the State Treasury has not
been prepared to pay all The inter.
est due upon the State indeM eduess.
the legislature carefully provides
that no surplus shall acrue for taxa
ton during the nest two years, TO a.
low a dollar OF interest TO be paid
Is that The way honest men usually
meet individual troubles of this
kind? or would a man not be sus-
pecled. and justly so, Of an intent.
matured and ready TO be pm; in prac-
tice. 10 defraud his creditors who
should act in such a way as this?
And what is to be the next step:
may well be the question uppermost
in tile minds of Tennessee creditors,
after this legislation. Nor VIII the
attempt to stir up prejudice against
the honest creditors Of the State,
avail among a people like oars, WHO
are the soul Of honor themselves
and besides, are far too intelligent
to be imposed upon by such logic as
is sought to be paIined off upon
them. as that. 1--WE. The peoples
friends, are for legisIating for the
people now, and against the bond
holders Away with such Buncombe
appeals 70 human weakness The
bondholders, so far as we can see.
are as fUrbearing rs it IS possible 10.
men to be. and though we think that
they should have made their propo-
sition for a settlement upon the
basis of the market value Of our
bonds, still the fact that they have
made a definite advance on the basis !
of sixty cents on the dollar, shows
a light in the sky of orr difficulties
that gives assurance TO every Ten-l