The Bolivar bulletin. [volume] (Bolivar, Hardeman County, Tenn.) 1865-1888, 1881-03-17

est thereon, at the rate Of six per cent.
would amount to $972, 0O0, While the
annual interest upon the terms Of set
Element now proposed amounts to
$500, 900, or $4,000 less than the
annual interest upon settlement
based upon sixty cents on the dollar
bearing six per cent. interest. Thu
it will be seen that upon the basis of
settlement now proposed the people Of
the State will be required to pay S172,-
600 per annum less on account Of the
interest than upon settlement based
apon the returns recommended by said
committee of arbiters. To meet the
accruing interest upon the terms Of
settlement now proposed tax of forty
cents on the one hundred dollars
worth Of the taxable property Of the
State, as ascertained by the last assess
ment, alone viii not only be sufficient,
but it is confidently believed that with
returning prosperity and the conse-
quent enhancement OF the value of
property, and with just and equal
assessment thereof, that the rate of
taxation necessary to meet the accru-
ing interest on our debt may be largely
reduced, and fund provided without
depressing the people for the extin-
punishment Of the principal long before
its maturity. I viii not make an ap-
peal to your pride as Tennesseeans, nor
invoke a DISPLAY Of that high moral
courage which has so often distin-
guished her SONS in an effort to redeem
the plighted faith, credit and honor OF
our State, hut in view Of our obliga-
tions and the indisputable fact that
every material interest in our State is
suffering if not surely dying because Of
our failure to comply with our con.
tracts. With full faith or confidence
in both the willingness and ability Of
the people to comply with the liberal
terms of settlement now voluntarily
proposed by large psrtion of oul
creditors, do most earnestly recon-
mend a prompt acceptance thereof
Should this be done, the proud escut
cheon of our State will no longer beal
the stain of reputation. She viii be
lifted up, and placed again up a high
plane of financial integrity, public anC
private credit will be restored, conf
dence will be inspired and new life
will be infused into every department
f of business, unparalleled prosperity
viii spread its happy influence.
throughout all our borders. Should
you in your wisdom determine to &C
cept the terms of settlement now pro
: posed, l would recommend that a
least portion of the new bonds to b.
issued be in smaller denominations thar
$1,000, so that our citizens may becom'
the holders and owners thereof.
this be done, they viii be eagerly
sought after for purposes of investment
and viii at once become 4 circulating
medium at home, and furnish to oul
citizens a ready and convenient means
of paying their taxes. The question
now submitted to sou is one Of NJ
T ordinary gravity. In its solution oul
future is involved, and, in determining
|, your action, I trust you will rise above
and superior to every consideration
except that Of the common veal Of oul
beloved State. Confding in youl
wisdom, and with q confident belize
that you will act in accordance with
your convictions OF duty, I leave the
matter in your hands.
ALVIN HAwKINs.