The Marietta journal. [volume] (Marietta, Ga.) 1866-1909, 1880-01-22
Political Economy.

Msssrs Editors Please have the kindness
to publish full and correct list OF "StatC
Aid Bonds" Endorsed by Gov. Bullock, du'
ring his administration, designating in the
list the Bonds recognized as valid, and those
which have been declared by the legislative
enactment, and Constitutional amendment
void.
Also which of these, the State, now has
to pay the interest on, by reason of such IN,
dorsemonts, and which if any Of the Rail
roads Endorsed for by the State during Cove
Bullock 5 term. that have paid the interest
on these ndorsed bonds. Then please give
a list of State Aid Bonds Endorsed by Cover
nors Smith and Colquitt, specifying partic-
ularly which, ifany, the State has had to
nav interest for and how much
And while on the subject of state bonds,
please rive resume OF them from 1872,
specifying what bonds were then outstand.
ing, when and how any have been paid
since then And if you know by what au.
thority $40 of per cent. for State taxes
were levied, and collected for the years 1873,
1S14-5-67 and 5, and what was done with
the 40 of per cent. levied and collected
! in those wears in excess of the amount
specified in the several acts OF the Leglsla-
ture LAYING taxes fer the support OF the
Safe Government for those years. The Leg
isature of 10 in providing for the payment
of the Nutting bonds authorizes the Cover
nor TO assess such percentage as might be
necessary to raise 500, 600 each year till the
Nuttng bonds were paid oh-tho taxable
propertv of the State has averaged about
| 1925 900, 600, and 10 of per cent. for six
wears named would seem to have yielded
| s. $50. 900, $3.50, 900 more than enough to
have paid off the debt for which the extra
tax was authorized, but we find that for
| 1879. leo of per cent was levied and col
| lccted for and on account Of this same Nut
ting bond debt Now Mr.. Editor, | want
| information and | trust you can make every
thing inquired about perfectly clear, but, il
YOU can't, or haven't time TO try please
allow these questions asked through your
columns in the hope that they will elicit
reply from some well informed source, pos
sibly from Gov COlquitt. or Col. Avery,
both of whom are doubtless in possession OF
full knowledge on the subject.
And then what has been done towards
the accumulation of the SIC, 900 OF PUB
lie School Fund provided for about the
time the Nutting bonds were issued? Don t
YOU think IL WOulu ne an 6AHlulllOi VI WI
rect political economy for the State OF Gcor-
gia to pay all her surplus funds on bonded
debt, rather than to be ransacking the State
to find safe repositories for these same sur
plus funds
Every bond so paid off would reduce the
yearly interest to be provided for, and per
haps "A still greater good would accrue from
placing that much money where it would
naturally seek investment either in active
business or useful investment Now Mr.
Editor, do notpretend to have correct in
formation, but think the State has been
carrying halfa million OF surplus money
! for months, no matter how long, why not
| pay off bonds that the bond owners might
| have the cash to invest in something else
Suppose all the Public debt in the United
States were paid of, why it would give such
an impulse to every industrial enterprise as
| would astonish even the most sangulne and
it would not be initiation either, but it would
] Just place the country where it would, or
at least where it ought to have been, had
not Governments and Corporations trans
cended their just powers by levyng tribute
on the years unborn when the tribute was
levied and expended. More anon perhaps.
II. J. THOMAS.