The Pulaski citizen. [volume] (Pulaski, Tenn.) 1866-current, 1879-03-27
The Legislature.

Senate, 19th.-The committee on
the Torbett issue reported a bill to
pay the Torbett issue in four in
stallments, two hundred thousand
dollars to be taken up in taxes per
year until eight hundred thousand
dollars are cancelled
Mr.. Tolley introduced a bill to
settle the debt at fifty cents, and
four, five and six per cent interest.
The discussion on the State debt
was continued.
House.-Mr. Witt introduced a
bill to settle the debt at sixty cents.
with SIX per cent. interest, as en-
bracIng the views of the republi-
cans.
Mr.. Gregg offered a resolution
that the State debt be settled upon
such basis that the tax of forty
cents will meet the expenses Of the
State government, the interest upon
the public debt, and provide a sink
ing fund for the early extinction of
the same.
Mr.. Mathes moved 10 suspend
the rules and take up the resolu-
ton. Lost. The resolution there
fore went over.
The bill to amend the school law,
by adding to the curriculum of
schools elementary studies on agri
culture, passed its third reading
March 2O-Gov. Marks sent
to the Legislature 70 day a
message, with communication
from the railroads of the State, pro-
posing to abandon all claims to
charter exemptions from taxation,
and to such an assessment on prop
erty as will contribute from eighty
to one hundred thousand dollars
per annum on a tax of forty cents
on the one hundred dollars. He
said it was a move in the right di
recUion, and it remained witn the
Legislature to determine whether it
would meet the railroads on that
basis. If the railroads and tax-pay
eTs could unite upon common
ground, satisfactory settlement
would Immediately follow. He
suggested that the Legislature first
determine the measure of taxes it
was willing to levy, and let the de
tails of settlement follow. AS the
people in convention had declared
their willingness and ability to sub
NIT to a tax of forty cents, he sup
posed that they would ratify the
settlement upon that basis. While
the subject remained unsettled, it
would continue to- be fruitful
source of distraction and expense to
the State, and if in their power to
reach just settlement at the pres
ent session, it ought to be done.
Any settlement which they might
agree upon would have his concur
renee, which would not require a
greater rate of tax than forty cents,
did not make coupons receivable for
taxes, and which provided for the
submission of the settlement adopt
ed to the people for their ratifica-
ton or rejection at the ballot box.
The message led to a conference
of Senators of opposing views to-
day, resulting In compromise bill
to fund at fifty cents on the dollar,
bonds to run thirty years, with in
terest at four per cent. the first fiji
teen years and five per cent. there
after, one third of the bonds to be
issued in denominational size of
five dollars to one hundred dollars.
March 21.-Senate.-A petition
was received from forty citizens of
Hardeman. praying that the taxes
of that county be RENTED to aid
in the completion of the Memphis
and Knoxville railroad between
Henderson and Bolivar.
Mr.. Wilson, from the committee
on the Torbett issue, submitted q
minority report. In it he says that
Messrs. Wilt and Watkins, of the
house, were assigned to investigate
and see if evidence could be pro-
cured to establish the fact these
notes of this bank were issued in
aid of the rebellion. These gentle
men, as l understand from the re-
port to the chairman, state that no
sufficient proof of this fact could be
discovered, and l have no desire to
question their sincerity or the thor
oughness of their search. The
facts are, so far as / have time to
disclose, about these: The State
issued three hundred thousand dol
lars in bonds to aid in her attitude
of resistance to the Federal govern
ment; the bank being a State insti-
tuition, was compelled to take these
bonds and pay for them; in doing
so all of its circulating notes were
absorbed to meet its demand; in
view of this disposition of its notes
it put in circulation a new issue.
After a decided struggle and at
tempts to agree on various PROPOSE
tions for an adjustment of the State
debt, a bill to adjust at forty cents
on the dollar, and four per cent. in
terest was passed by the following
vote:
Ayes-Anderson, Beckerdite Bibb,
Bledsoe, Grove, lands, Roberts,
Savage, Shearon, Smith (of Meigs J,
Tolley, Wilson, and Speaker Neal
-13.
Noes-Brandon, Byrd, Clapp,
Driskill, Ewing, Hatson, Miller,
Morris, Moss, Patton, Samsell and
Smith (of Davidson. )-12.
A motion to reconsider was tabled.
The senate bill 20 protect married
women in the rents and profits OF
their separate estate passed third
reading.
Senate bill providing for The pre-
of the State tax on litiga-
ton, passed third reading.
House.-House bill TO prevent the |
sala Of nAtfAn al |