The Bolivar bulletin. [volume] (Bolivar, Hardeman County, Tenn.) 1865-1888, 1878-03-14
THE STATE DERT.


Of the State debt is subject of wide
spread public interest. Ne question
Of greater dignity ever engrossed the
grave consideration of our people. |
The credit Of the Commonwealth is in
peril by reason of the threatened re-
pudiation of her bonded Indebtedness.
We assume that the legality and equity
Of that portion of the debt represented
by the proposed fifty cents compromise
will not be controvcrted, because the
remaining half, which the creditors
seem willing to surrender, embraces
the total amount of what is deemed to
be unjust and illegal. We conclude,
therefore, that the State may be con-
sidered honestly owing fifty cents in
the dollar of her Indebtedness. That
being conceded, the practical question
presents itself: Can the people of Tenn
essee provide for a fifty cent compro-
mise without saddling property with
onerOus burdens? The matter resolves
itself into that of mere dollars and
cents as expressing the ability, and
consequently as embodying the will of
the people in the proposed settlement.
To preserve unimpeached both private
and public credit, we believe to be
the wish of every honorable citizen
within the limits of the State. We
cannot desire otherwise and be true to
the instincts and teachings of indi-
vidual and public integrity. While
we favor this compromise, and grant
that the people through economy and
sacrifice could meet the requirements
of a reasonable annual interest on the
same, yet VIC are opposed to resorting
to high taxation to raise the needed
revenue, whcn, by proper retrcnch-
ment Of State expenditures, and by a
careful revision of our revenue laws,
We can largely increase the Treasury
receipts, and thus easily provide not
only for current expenses, but the
yearly interest on said compromise
We shall oppose levying any higher
tax on property than that which is
now imposed, until, through legisla-
ton, we shall have exhausted every
available means of increasing public
receipts. BY retrenchment and the
establishing other and new sources of
revenue the paying ability of the pub
lie exchequer can be greatly enlarged.
The State should be stripped to the
skin in the way of rigid economy in
the management of affairs before one
cent more tax is sought to be imposed
upon property. After the State has
exhausted every possible means of
raising revenue, and stands, open
handed before the world as an honest
and consistent debtor, the people will
not object to a reasonable increase of
taxation to meet the deficit. They
will come to the help of the State in
maintaining her credit.
The payment of fifty cent COM
promise does not depend upon high
rated property tax. There are other
and ample sources whence revenue
can be derived, and it becomes the
coming Legislature to have wisdom
and nerve sufficient TO put them in
operation. 1t is too true that property
has been a convenient chOpping-block
for years past in Tennessee, and the
sharp ak of taxation has cut into its
vitals until now very many of our
best citizens say they are forced to the
bitter alternative of Reputation rather
than be further tormented by the tax
gatherer's memorable demands. The
people are averse both to Reputation
and high taxation, and favor main
tanning State credit in other legal
ways than by placing heavy burdens
upon property. In order, therefore,
to reconcile State credit with low
taxes, we are forced to retrench, to
economic, and to raise funds outside
of increased taxation on real estate.
Of the one hundred and seventy.
five thousand dollars annually contrib
uted by the ninety-four counties of the
State on account of criminal prosccu
tions, seven counties alone consume
two-thirds of this large sum, leaving
about onc-third to be apportioned
among the remaining eighty-seyer
counties. Moreover, in 1876 twenty
counties in West Tennessee received
forty-nine thousand dollars for crimina
expenses, while Shelby county alone
received sixty-nine thousand dollars OF
same account, being twenty thousand
dollars more than all her sister counties
combined consumed. If Shelby county
had received in proportion to thu
amount she paid into the State Treas
ury, as compared with what the othel
counties of the Western District paid
she would have gotten only twenty
four thousand dollars as her share
To change this whole unjust procedure
let the Legislature require the indi
vidual counties to defray their owl
criminal prosecution expenses. They
then will have economy, and not, Al