Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1878-07-18
mounted to $1,434,OOO granted

Polk, in his message TO the
Legislature in October, 1889,
urged ga vigorous prosecution
Of a judiGous system of inter-
nal improvements" 1t was du-
ring his term and that of Gov.
Jones that the bulk of the turn
pike bonds were issued. Gov.
Neill S. Brown in his message
to the Legislature of l047,
characterized the issuance of
bonds, under the act of 1878,
as "indiscriminate." Two years
before that, Gov. James c.
Jones referring TO the same sub
ject in his message, said, 81 am
gratified to know that in refer
ence to the importance OF max
ing ample and certain pIovis-
ions TO meet all our liabilities as
a State, there is but one senti-
ment amongst our constituents.
They do not stop 10 inquire in
to the wisdom of the original
measures out Of which their III
debtedness has grown, bat re-
quire that the credit OF the
State shall be maintained. Gov.
NeiIl S. Brown, in the message
referred to, recommended addi-
tional State aid to the Hiwassee
railroad and 10 other similar
works. Gov. VIM. Trousdale,
in his message of 1049, advised
the grant of an additional State
aid, and gave utterance to this
sentiment, so consistent with
his exalted character-"we are
bound by the highest obligation
to preserve the credit OF the
State inviolate and untar-
nished." And in his message
of October, 1851, he foreshad-
owed the system of internal inn
provements, Afterwards adopted
by the State, by recommending
that the companies should ''pre-
pare the roads for the rails and
fixtures and then call upon the
State for aid," and, to roads that
promise good results, ''let the
State loan her credit in State
bonds payable at distant day,
say fifty years or lesq, bearing
an interest of six per cent. pay
able semi-annually at some COM
mercial point. Gov. VIM. b.
Campbell made the same rec
ommendation, and his successor
Governor Andrew Johnson said,
in his mcssageof December, 1858
that "it should be the great
and primary object Of the Gen
efal Assembly, to bind the State
together from johnson TO Shell
by, by railroads or other I'M
provements which would ac-
complish the great end Of MAX
ing lis one and the same people. u
RAILROAD BONDS.
Under the act of 1850, three
hundred and fifty thousand dol
lars, in six per cent. bonds, were
issued TO the East Tennessee
and Georgia railroad. The Il
Bile report, made py Messrs.
::lollolson, Gentry and Others
in 1885 s, first gave form to
the prevailing and growing O.
piniOn in favor Of additional
commercial facilities. This SEN
timent continued 10 grow I'M
til it was developed by the pas
sage of the act of 1872, pro-
viding for a system or genera
internal improvements. This
measure was supported by the
press, by public opinion, anc
bv the leading Democrats ant
: Wings of that day. Under 1T
J provisions and amendments th'
) principal part of oar railroad
indebtedness was created.
OTHER STATE BONDS.
l The State issued, for the cree
tion of the Capital, SSG6,600 il
: bonds; about one-third OF thu
: amount is unpaid; to the Agri
= cultural Bureau, in 1856, $50,
a 600; one third of this amoun
! has been cancelled. In 1o5
! the State issued $4,000 i
:, bonds for the purchase OF tn
. Hermitage; $1,000 of this q
t mount has been cancelled.
Y AMOUNT OF THE STATE DEBT
S The debt of the State on tn
t first of January, 1878, amount
b ed to 500, ,212,6O6; this include
o the bonded debt past due, nv
!. installments Of interest and ba
o anccs, of several installment
II not presented, amounting t
! $4,000. The greater part Q
| this debt was incurred prior
!. 1861. And a very large m;
iority of the bonds were issue
n by Gov. Andrew johnson an
It Gov. Isham g. Harris. III
t. following table exhibits the
It mount issued since the late WI
V between the States, the amour
s. cancelled and the amount no
II outstanding:
!. !. |. IIIIIIIZIII IIZll :.