Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-02-28
MEMPHIS, February q, 1852.


To the Editors of the Appeal.
While the recent decision of the Supreme
Court of Tennessee, declaring the funding
act of April 3, 1881, nugatory and void,
has called forth much comment and specu-
lation from writers, speakers and news
papers, both in and out of the State, as
to future adjustment of the bond contro-
versy and the possible course political parties
will take In final settlement of this all
important question, would it not be well for
the people, without party distinctions, al
once to request Governor Hawkins when he
convenes the legislature to redistrict the
State for members of Congress, to call atten-
ton to the importance of repeating so much
OF the revenue law passed April Z, 1881, as
provides fund to meet the interest on bonds
to be funded under the 1908 funding act?
The legislature at its called session should
also repeal the law authorizing the collec-
ton of a tax for State purposes for the year
1882, as the revenue collected and to be col
lecied for 1881 under the present law will be
more than ample to meet allsdemands for
the ordinary expenditures of the State for
the years 1881 and 1882 Experience of
several years past has proven that 10 cents
State tax on the 800 furnishes reve-
nue. sufficient. to meet the ordi-
nary current wants of the State gov
eminent, and l think at time like the pres
ent when the wall of want and the cry of
actual restitution is hourly heard and felt
among the producing and laboring classes of
our people, it would be good policy and wise
craftsmanship at the earliest moment to repeal
all laws, and parts OF laws, that provides for the
levy and collections of taxes on property or
privileges, for the purpose of meeting any
contemplated obligations created by the pass
age of the 1908 funding act. Whatever
may be the merits or dement's OF this meas
ure as passed by the last regular session Of
the legislature, the Supreme Court has erased
it from the statutes of the State, and the peo-
pie should at once be relieved from the pay
ment of any and all taxes which were levied
for the purpose Of paying interest on State
bonds. There is also subject of local in
terest, if | am correctly informed, which the
governor should include in his proclamation
By an act passed on the 9th of April, 1881,
for the purpose of authorizing the funding of
the Indebtedness of the old city of Memphis,
it will be seen that tax of so cents on the
800 of taxable property, including merchants
capital and other property and privileges in
the original wards of the old city, and
10 cents on the 81 in the Nineth
and Tenth wards, which constituted
the old city limits was levied. This act
further provides that this tax shall begin
with and include the year 1852, aud continue
until it extinguishes the entire debt at 33l
cents on the dollar with interest. This act
also creates a funding board of persons,
at an annual compensation of $500 each, and
gives them a secretary at not over $500 an
nually, making $1,000 year which the peo-
pie of the Taxing District have to pay three
officers for simply holding position under a
law which am informed is wholly inopera-
tive go far as their legitimate functions are
concerned. This board has been organized
several months, and L have no doubt has per-
formed its duty as far as it could; but L am
told that no bonds or other Indebtedness of
the old city has heen funded; nor is there
any reasonable probability that any consid-
cradle portion OF it will ever be funded I'M
der the present law. Ii understand the
correctly, the law ought to be repealed
by the legislature at the earliest opportunity,
or the collection of taxes suspended until
majority of creditors agree to fund their
claims The laboripg masses of Tennessee,
from whose toll all taxes and wealth must be
derived, were never in more impoverished
and helpless condition, and a solemn duty of
the State is not to further Cypress, but to
afford all possible relief.
JESSE F. BEowN.
MEMPHIS, February p, 1882.