Year: 1877




The Legislature and Gov. Porter
Veto of the Tax Bills.
+. From Morristown Gazette.


The 10th General Assembly close
its labors Tuesday evening, 26th ult


and its work, good and bad, is now


matter Of the legislative history Q


Tennessee. In the main its work ha


been of character to reflect credi


upon the gentlemen whom the peopl
sent to represent their interest, locally


at the State capitol; but in few par
tieulars, unfortunately very import


ant ones, they have in our judgment


failed to reflect public sentiment b


properly guard the best interests O.
< the people. We refer especially il


this expression of opinion to the is


sues a majority of the legislature saw


proper to make with Governor Porter


upon the subjects of the taxes and as


sessment law. We believe that, in


stead of sustaining the legislature in


the radical change made in the assess


nent laws, which have but just been


put into operation in the several coun-


ties OF the State, under the act of the


39th legislature, the popular verdict


will be against them, aud that their


legislation will be condemned as has


ty, not to say recklessly inconsiderate


Of the public economy.


AT the first blush many will no doubt


applaud legislature which proposes,


and octually provides to run the ma


chinery of the State government upon


one-fourth of what the people had


been required to pay before; but when


they discover their error-the popular
clamor will be anything but pleasant to
the ears of the authors of the Gelusion.
Ten cents on the hundred dollars worth
of taxable property, sounds well, as an
alternate for forty cents, as it stood
under the late assessment laws, but
when the tax payer is called upon to
make up the deficiency, or to meet the
next step-upward in State taxes, he
will wish the tinkers (as Senator Rag
land called them,) Of this legislature
had not meddled with the matter of
taxation at all, or had at least looked
an inch or two beyond their noses in
regulating taxation.


We may be wrong in our calculations
in this thing-candidly, we hope so,
for the sake of the payers, and for
the credit of the legislature just ad-
journed. But we believe the senti-
ment of the people will be found with
US, in our fear that, in their effort to
release the pressure upon them, they
have over-shot the mark, and perhaps
done more harm than good. If they
had put down the rate of taxation one
half-if the bill they passed over the
Governor veto had made the tax 20
cents on the hundred dollars, there
would have been larger feeling Of re-
lief in the public mind, we verify be-
lieve, than as it now stands. Men
would have regarded it as somewhat a
fixed thing-a joyful thing, too, to
have half the burdens of taxes lifted
from their shoulders at one time Yes,
that would have been a relief indeed
but to take off more, with an almost
certainty that the next legislature-or
some, perhaps a call session of this one
will have to put all, or most of it,
back again, has an ominous look about
it that unhinges the joints of popular
confidence, and sets mems minds at
unrest again. Gentlemen, we fear the
popular verdict will be against your
wisdom, while fully according to you
the best of intentions in the premises.


And then, there was view of the
question which statesmen ought to
have taken, that looked beyond the
States boundary. There was the ef-
feet upon the mind of the financial
world, which, as true representatives
Of a proud commonwealth, legislators
should have more carefully considered
than we fear was the case in this i'm
pOrtant matter. 1t SmdckS OF Tepu1id-
hon, to say the least of it. Because
the State Treasury has not been pre-
pared to pay all the interest due upon
the State indebtedness, the legislature
provides that no surplus shall
accrue for taxation during the next
two years, to allow n dollar Of interest
TO be paid Is that the way honest
men usually meet individual troubles |
Of this kind or would a man not be |
aud justly so, of an intent |
and ready to be put in prac-
lice, to detraud his creditors who |
should act in such way as this ? And |
what is to be the next step? may we'll |
be the question uppermost in the minds
Of Tennessee creditors, after this leg |
station. Nor will the attempt to stir
up prejudice against the honest cred
tors Of the State, avail among people |
ike ours, who are the soul of honor |
and besides are far too in
telligent to be imposed upon by such |
ogic as is sought to be palmed off up
1n them, as that, I'VE, the peoples |
friends, are for legislating for the peo-
pie now, and against the bondholdersv |
Away with such Buncome appeals to |
human weakness The bondholders, |
30 far as we can see, are as forbearing |
is it is possible for men to be, and
though we think that they should have
made their proposition for a settlement
upon the basis of the market value of
1ur bonds, still the fact that they have
made a definite advance on the basis
Of sixty cents on the dollar. shows a
light IN the sky of our difficulties that
gives assurance to every Tennesseean
hat the State can yet weather the |
storm of her great financial trouble |
without resort to the fatal policy of |
We thank God for the
light before us and without saving
more upon the subject a. present, We
,lose with the earnest hope that the
people of the State, through an honest
md outspoken and unshackled press
like the Morristown Gazette, which
waits for no nod from any quarter be-
ore uttering its intelligent convictions
lpon public acts) and through every
,ther legitimate channel of expression,
will hasten to undo any evil that may
nave been done by this inconsiderate
egislation of the 40th General As
,embly, in the matter of the tax bills
which they passed over the Governors
veto, and thus keep the way clear for
IN adjustment of the State indebted
ness upon terms as favorable to all
parties as the circumstances Of the
case will justify.