Southern standard. (McMinnville, Tenn.) 1879-current, 1889-01-19
THE GOVERNORS MESSAGE.
his Official Communication to The
M General Assembly.

is long document of which we give
a synopsis below, with liberal eX
tracts from that portion of itreferring
to state finances, the assessment law
and the state penitentiary.
The governor congratulates the leg
islature and the people upon the aus
piciOus conditions surrounding the
material interests of the state, and
then proceeds to discuss the state
finances. On this subject he says:
ut will be observed that the funding
of our bonds is practically complete,
and that the debt is compacted into
shape to be more easily handled. 1t
is remarkable tribute to the wisdom
that conceived and the genius that
executed this transportation that it
has been done without increasing the
taxes upon the people and without
failure to meet promptly every
obligation both current and extra
ordinary. The immense eXtraordi-
nary expenses incurred by the build
ing of our new charitable institutions
and the payment of the state bank
debt made it necessary in order to
meet the semi-annual interest upon
the funded debt to borrow some
considerable sums Of money. But
for these extraordinary expenditures
the state would have been able to
meet the interest out of her own
treasury, and would have had quite
q respectable sam to pass to the
sinking fund. This achievement
foreshadows what will occur within
the next two years. Tennessee will
be emancipated from the thraldom Of
unwieldly obligations and plant her
feet once more upon the solid rock.
The present taX-rate is entirely
adequate to consummate this end,
and until this lOng-sought result is
reached it occurs to me that the
unanimous voice of TennesseanS,
cOuldit be heard, would demand
that the means be not decreased.
The current treasury receipts du-
ring the biennial term show an in
crease over that of the term before of
1923, 75l.92, the total receipts being
S3,G9i, 1861. This increase is due to
the natural increase in property, to
closer collections and prompt
settlements by trustees, demonstrate
ing the better ability of the people to
pay. The increased valuation of
property and the new property which
the new assessment law ferrets out
has not yet been materially discerni-
bic in the collections, but will be
manifest in the collections now being
made. The valuation of property
has increased SjS,0O0,000 giving a
net increase of property tax for the
current year of about $4,000. The
total expenditures have been S., 40S,.
76l.69, divided as follows: Interest
on the debt 81 , l54, 1850, hospital for
insane for West Tennessee $144, 06S.-
"a, Bank of Tennessee obligations
1878, lib, interest on loans 1884,
$3.50, loan account $4,000. The
balance was currently expended
There have been borrowed at various
times amounts aggregating 1866, 002,.
10. OF this amount $262, 800 has been
paid, leaving balance chargeable tC
loan Of SOP, 1902. 10. The estimates
for the current year show that the
current expenses can be met and this
amount reduced to about S200,00(
within the next two months, thu;
stopping the accruing Interest
These loans were made necessary and
were foreseen by the last Legislature
that authorized them by the building
and completion Of the two new
asyluns,by the funding of the bonds
by the Bank of Tennessee obliga
tions, and by other smaller eXtraordi
nary appropriations. 1t will be OBJ
served that it is imperatively necess
AIRY that the present valuation o
property must be maintained il
order for the state to meet its obliga
tons under the existing taX-rate
With this rate continued within the
next two years the state will have
entirely recovered from these extra
ordinary drains upon its resource
and will be able to meet every Obliga
tiOn out Of its current receipts.
Concerning the present assessmen
laws the governor says: "Our presen
system has brought good results il
shat it has yielded more revenue
but it is questionable if this has no
beenaccomplished at the expense 0
exact equality Of assessment. You
IntV * tO SOP that all pitizpnS siam