Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1878-07-06

said: 81 am gratified to know that |
in reference to the importance OF
making ample and certain provis-
ions to meet all our liabilities as
State, is but one sentiment amongst
our constituents. They do not stop
to inquire into the wisdom of the
original measures out of which their
Indebtedness has grown, but require
that the credit of the State shall be
maintained" Gov. Neil S. Brown,
in the message referred to, recon-
mended additional State aid to the
Hiwassee railroad and to other SIM
liar works. Gov. VIM. Trousdale,
in his message of 1849, advised the
grant of additional State aid, and
gave utterance to this sentiment, so
consistent with his exalted charas-
ter-"we are bound by the highest
obligations to preserve the credit of
the Stateinviolatean duntarnished.
And in his message of October, 1851,
he foreshadowed the system of in
ternal improvements, afterwards
adopted by the State, by recommen-
ding that the companies should
Hprepare the roads for the rails and
fixtures, and then call upon the
State for aid," and, to roads that
promised good results, tlet the State
loan her credit, in State bonds, pay
able at a distant day, say fifty years
or less, bearing an interest of six
per cent, payable semi-annually at
some commercial point" Coy VIM.
B. Campbell made the same recon-
mendation, and his successor, Gov.
Andrew Johnson said, in his mes
sage of December, 1853, that sit
should be the great and primary OBJ
ject of the General Assembly, to
bind the State together, from john
son to Phelps, by railroads or other
| improvements which would accom-
plish the great end of making us
one and the same people"
RAILROAD BONDS.
Under the act of 1850, $3.50, 100000,
in six per cent. bonds, were issued
to the East Tenn. and Georgia rail-
road. The able report, made by
MesSrs. Nicholson, Gentry and 9th
ers in 1856, fiTst-gave form to the
prevailing and growing opinion in
favor of additional commercial IA
cilities. This sentiment continued
to grow until it was developed by
the passage of the act of 1872,
providing for a system of general
internal improvements. This meas
ure was supported by the press, by
public opinion, and by the leading
! Democrats and Wings of that day.
Under its provisions and amend
ments the principal part of our rail
road Indebtedness was created.
OTHER STATE BONDS.
The State issued, for the erection
of the Capitol, 1866, 100000 in bonds.
about one-third of this amount is
unpaid to the Agricultural Bureau
in 1856, $30, 100000; one-third of this
amount has been cancelled. In 1856
the State issued $48, 100000 in bonds
for the purchase of the Hermitage
100000 of this amount has been
cancelled.
AMOUNT OF THE STATE DEBT.
The debt of the State on the first
of January, 1878, amounts to $685.
212, 10000; this includes the bonded
debt past due, five full installmentS
of interest, and balances of several
instalments not presented, amount
ing to $40, 100000. The greater part
of this debt was incurred prior tC
1861. And very large majority Of
the bonds were issued by Governor
Andrew johnson and Gov. Isham
G. Harris. The following table eX.
hibits the amount issued since the
war between the States, the amount
cancelled and the amount now out.
standing: