Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1881-03-26
able body is not too pressing, adj
journ over for eight or ten days, and
let's all go fishing.
CouNTRYMAN.
Coupons ReceivabIe Eor Taxes.
Nashville American.

NaSnFllle American.
Some who are honestly in favor
of settling the state debt question
have deubts about the coupon-re.
ceivable for taxes feature "a kind oi
fear Of it, the reason for which they
cannot explain. The feature is one
really for the benefit of the people
of the state. A man in New York
owning a lot of the bonds viii not
receiv We any benefit from it, but the
owner of bonds ia this state will be
benefited. One year is q good crop
/ year the farmer is flush of money;
he has only to invest 500 in state
bond, and he is secure for the pay
ment of 30 cents on the 500 valua-
tion forever, as long as he holds the
bond. The next year may be bad
year, but he need not fear the truS-
tee; all he will have to raise is his
county tax, and as much more for
the state as may be the levy; but il
is not at ali likely that the tax will
be much, if any, over 80 cents on
the $lO0 with a fair valuation.
Some have an underlined idea that
the state treasury can be flooded
with these coupons. Now, the sim
pie fact IS that no more than the
amount of interest due can be paid
in, and when tax is laid sufficient
to pay the interest and the annual
expenses of the state government,
then for that tax the number and
amount of coupons corresponding to
the sum of the interest for that year
can be paid in and no more.
With the coupons receivable for
taxes it will become the interest of
every man who owRs property in
the state of Tennessee to also own
her bonds, and in no shape or form
is it possible for any one or all, to
pay in, or the comptroller to receive,
more coupons than the exact inter-
est for that one year. One may pay
all his taxes in coupons as others
pay all in money, but there is no
possible way for the coupons paid
in, in any one year for taxes, to
to over the amount of $780,
600, the total interest on the debt /;
and it does not make the slightest
if that interest is thus
paid. If $4,000 worth of coupons
are paid into the treasury, then the
is paid; and if $4,000 in
money is paid in, it must go to take
up the coupons. What is the differ
ence?
Besides this feature makes con-
to the home-holder of
bonds. Heretofore, the owner of a |
state bond in some far off county
must send his coupon to a bank or
to Nashville to be cashed. With |
coupons receivable for taxes, all he |
has to do is to go to his county trus-
lee and pay his taxes with the
coupon, or get the money for it, be-
cause it is the same as cash to the /
can pay his dues to the
state with il.
Again, every SO coupon will sim
ply be equivalent to bank bill; the
s. coupon pays taxes, and what
pays taxes is money. Taxes must
be paid or land sold. The farmer
will be able to sell his produce for
the bondholder to pay
with his coupons. The $3 coupon
will be a circulating currency, as
also the $50 bonds. These will
eventually all be held by our own
people, and thus add to the amount
IF money in circulation. United
States bonds and greenbacks are re-
;eivable for all public dues; so will
De Tennessee bonds and coupons.
surely, with these facts, the great
yreenback party in the legislature
should be for the compromise.