The Milan exchange. (Milan, Gibson County, Tenn.) 1874-1978, 1879-03-27
GOVERNORS MESSAGE.
Gentlemen of the Senate and House Of
Representatives

| have the honor to submit here,
with the accompanying communica-
ton from the railroad companies Of
the State.
1t will be ssen irony their com-
munication that the railroad compa-
nies propose to abandon all claim to
charter exemption, and to submit to
such an assessment Of their property
as will require It to contribute from
eighty to one hundred thousand dol,
lars per arhum upon tax Of forty
! cents.
This offer on the part Of the rail
road companies to contribute 20 the
common burden is a move in the
right direction. For obvious reasons
the railroad companies are largely
interested in satisfactory adjustment
of the State debt, and as they declare
themselves for a settlement that will
not exceed tax of forty cents for alb
purposes, it simply remains for you
to determine whether you will meet
them on that basis. 1t is apparent
that if the railroad companies and
the tax payers of the State can
unite upon a common ground that
a satisfactory settlement will i'll
evitably follos. As the tax-pa, ers
of the State are more interested IN
the amount they have to pay as taxes
than they are in the details of the set
tlement adopted, it is respectfully
suggested that you determine the
measure of taxes you are willing to
levy and let the details of the settle
ment follow. AS the people in con-
ventiOn have number of times
declared their ability and Willingness
to submit to tax Of forty cents am
of the opinion they will ratify a set
tlement upon that basis.
While this subject remains unset
tied it will continue to be a fruitful
source of destruction and expense to
the State, and If it Is IN your power
to reach a Just settlement of it at your
present session, it ought to be done.
Any settlement you may agree upon
will have my concurrence, which will
not require a greater rate of tax than
forty cents, which does not make the
coupons receivable for taxes and
which proTides for submission Of
the settlement adopted to the people
for their ratification or rejection at the
ballot box.
If you reach a basis OF settlement,
! suggest that yCu fix a minimum
amount to be paid by the railroad
companies, and set 1t apart for appli
cation to the public debt. If this is
done, it will render the minimum
amount to be paid by them certain,
and if a failure to- pay it occurs, the
responsibility of a failure will rest
where it properly belongs.
ALBERT S. MARKS, Governor.
March 20, 1879.
NASHVILLE, Tenn; March 18th,
1879 TO His EXcellency, Albert S.
Marks, Governor OF Tennessee-Sir:
The undersigned, representatives of
the railroad companies named below,
believe that a settlement of the debt
of the State of Tennessee, upon terms
satisfactory to the people and the
creditors Of the State, would, by
restoration Of confidence and credit,
greatly promote the agricultural and
mechanical and commercial proSperi-
ty of the people anH enhance the
value of their property.
By far the largest proportion ofthe
railroad property in this State-in
fact, above two>thirds of it's, as the
companies confidently believe, pro-
tected, by charter exemptions, from
all taxation whatever, but being de-
sirous in aiding in such settlement
and thereby relieving the State and
her people frohi their present embar-
rassments, the said companies dgree.
in the event of such settlement, that
their said property shall, in future,
be subjected to State taxation for
State purposes as and upon the same
assessments and rules as the property
Of private citizens.
They further believe that should
the State debt be settled such will be
the improvement in the value of
property in this State, that fair
assessment upon the railroad property,
including that portion of it now for
the first TIME subjected to taxation.
will produce an annual fund of be.
tween eighty and one hundred thous-
and dollars, which, with forty cent,
tax upon the cther property Of the
state, will enable her to meet with
ease the expenses of the State govern
ment, including her charitable insti
tutions and school fund, together with
the interest upon the bonded debt and
a proper sinking fund for its ultimate
redemption.
Very respectfully,
+. y. STANBIFoRD,
Pres. L. Il n. r. r. Co.
G.. NJ. MCGHEE,
V. Pres. f. T., Va. Il Ga. R r. Co.
Z. W. COLE,
Pres. N, G. & St. l.. Ry.
G. NJ. MCGHEE,
V. Pres. NJ. d &. r. r. Co.
G.. NJ. MCGHEE,
Pres. X. & 0. r. r. CO.
By the reorganization Of the te,n>
mittees, Senator Bailey received the