USA > Tennessee > Williamson County > History of Tennessee, from the earliest time to the present; together with an historical and a biographical sketch of Maury, Williamson, Rutherford, Wilson, Bedford and Marshall counties, besides a valuable fund of notes, reminiscences, observations, etc., etc. Vol. 1 > Part 36
USA > Tennessee > Maury County > History of Tennessee, from the earliest time to the present; together with an historical and a biographical sketch of Maury, Williamson, Rutherford, Wilson, Bedford and Marshall counties, besides a valuable fund of notes, reminiscences, observations, etc., etc. Vol. 1 > Part 36
USA > Tennessee > Rutherford County > History of Tennessee, from the earliest time to the present; together with an historical and a biographical sketch of Maury, Williamson, Rutherford, Wilson, Bedford and Marshall counties, besides a valuable fund of notes, reminiscences, observations, etc., etc. Vol. 1 > Part 36
USA > Tennessee > Wilson County > History of Tennessee, from the earliest time to the present; together with an historical and a biographical sketch of Maury, Williamson, Rutherford, Wilson, Bedford and Marshall counties, besides a valuable fund of notes, reminiscences, observations, etc., etc. Vol. 1 > Part 36
USA > Tennessee > Bedford County > History of Tennessee, from the earliest time to the present; together with an historical and a biographical sketch of Maury, Williamson, Rutherford, Wilson, Bedford and Marshall counties, besides a valuable fund of notes, reminiscences, observations, etc., etc. Vol. 1 > Part 36
USA > Tennessee > Marshall County > History of Tennessee, from the earliest time to the present; together with an historical and a biographical sketch of Maury, Williamson, Rutherford, Wilson, Bedford and Marshall counties, besides a valuable fund of notes, reminiscences, observations, etc., etc. Vol. 1 > Part 36
USA > Tennessee > History of Tennessee from the earliest time to the present , together with an historical and a biographical sketch of from twenty-five to thirty counties of east Tennessee, besides a valuable fund of notes, original observations, reminiscences, etc., etc. V. 1 > Part 36
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After the reports of several committees, and that of the Grand Pro- tector had been received, an animated discussion arose as to the pow- ers of the Grand Lodge at this special session. The Grand Protect- or finally decided that any business offered could be transacted, and new officers were elected. D. B. Gally was chosen Grand Protector, and Mrs. E. E. De Pass, Grand Vice-Protector. The Secretary reported a total membership of about 1,500, distributed among forty-two working lodges. The first biennial session of the Grand Lodge was held April 2, 1883. But little except routine business was transacted. The Secre- tary reported forty-one lodges in working order, with an aggregate mem- bership of 1,650. The Protector reported that up to that time there had been paid to the families of deceased members in Tennessee benefits to the amount of over $80,000. At this meeting B. J. F. Owen was elected Grand Protector, and Mrs. J. E. Jordan, Grand Vice-Protector. April 13, 1885, the Grand Lodge convened in second biennial session at Nashville, and was opened in due form. The Grand Protector re- ported forty-five lodges in the State, with about 1,800 beneficiary mem- bers. He also reported that the State bad drawn benefits to the amount of $116,873.65, and paid in assessments $73,908.15. After business of a miscellaneous character was transacted the following officers were elected: George E. Hawkins, Grand Protector; Mrs. Dosie Brooks, Grand Vice- Protector; George Fuller, Grand Secretary; R. A. Campbell, Grand Treasurer; Mrs. Olive Peacock, Grand Chaplain; Mrs. Josephine Mac- kenzie, Grand Guide; I. C. Garner, Grand Guardian, and J. T. Macken- zie, Grand Sentinel. W. L. Grigsby was elected representative to the Supreme Lodge, with W. R. Kendall as alternate. The lodge holds its next biennial session in April, 1887.
On May 9, 1876, fourteen ladies and gentlemen met in the city of Knoxville and resolved, after a preliminary discussion, to apply for a charter under the laws of Tennessee, that they might organize an order to be known and styled the United Order of the Golden Cross, together with provisions for the pecuniary relief of sick or distressed members, and the establishment of a benefit fund from which should be paid to the friends of deceased members a sum not to exceed $2,000. The charter
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318 1
HISTORY OF TENNESSEE.
was granted, and on July 4, 1876, the Supreme Commandery was organ- ized. The first Subordinate Commandery organized was Peace No. 1, at Knoxville, on July 11. The order increased quite rapidly, and on May 10, 1877, a called meeting of the Supreme Commandery of the World was held at Knoxville for the purpose of organizing a Grand Commandery for the State of Tennessee. The members present were J. H. Morgan, Su- preme Commander; Addie Wood, Supreme Vice-Commander; Isaac Emory, Supreme Prelate; D. H. Weaver, Supreme Keeper of Records; William Wood, Supreme Treasurer; R. A. Brown, Supreme Herald; C. J. Gochwend, Supreme Warden of the Inner Gate; E .. W. Adkins, Su- preme Warden of the Outside Gate; Harvey Clark, Supreme Post Com- mander; W. R. Cooper, Mary Adkins, Maggie P. Morgan, M. E. Weav- ers and A. M. Emory. An election of grand officers was held, which re- sulted as follows: E. E. Young, P. G. C .; A. J. Baird, G. C .; A. M. Emory, G. V. C .; S. H. Day, G. P .; George W. Henderson, G. K. of R .; E. W. Adkins, G. T .; J. A. Ruble, G. H .; Addie Wood, G. W. I. G .; W. J. Fagan, C. W. O. G. J. C. Flanders was elected Representative to the Supreme Commandery for one year, and George B. Staddan for two years. The whole number of third degree members reported at this time was 317. Both the first and second annual sessions of the Supreme Com- mandery were held in Knoxville, but the growth of the order was rapid in the other States, and the third session was held at Washington, D. C. The Grand Commandery held its first annual meeting in Cleveland, Tenn., on April 16, 1878, at which time A. J. Baird was chosen Grand Com- mander, and Addie Wood, Grand Vice-Commander. Seven new lodges were organized during the preceding year, which increased the member- ship to 598. The second annual session and all succeeding ones have been held at Nashville. At the meeting in 1880 it was decided to hold biennial instead of annual sessions, and accordingly the next convention of the Grand Lodge occurred on April 18, 1882. Two sessions have since been held. The Grand Commanders elected since 1878 have been S. H. Day, 1879; J. H. W. Jones, 1880; R. G. Rothrock, 1882; C. S. McKenna, 1884 and R. A. Campbell, 1886. The other officers at pres- ent are E. J. Roach, G. V. C .; W. W. Ownby, G. P .; George B. Stad- dan, G. K. of R .; E. W. Adkins, G. T .; Belle McMurray, G. H .; J. L. Webb, G. W. I. G .; D. S. Wright, G. W. O. G. The membership in 1880 was 766; in 1882, 1,036; and on January 1, 1884, 1,114 The influence of this order is always for good, and no person not pledged to total abstinence from all intoxicating liquors is admitted to membership.
The order of the Knights of Pythias was introduced by the estab- lishment of Holston Lodge, No. 1, at Knoxville, Tenn., in March, 1872 ..
319
HISTORY OF TENNESSEE.
Soon after lodges were established at Chattanooga, Nashville, Memphis, and other points throughout the State. The Grand Lodge was organized at Nashville, April 2, 1872, by Supreme Chancellor, Samuel Read, of New Jersey. There were present representatives from six lodges: Hol- ston Lodge, No. 1, of Knoxville; Damon Lodge, No. 2, of Chattanooga; Myrtle Lodge, No. 3, of Nashville; Bayard Lodge, No. 4, of Murfreesboro; Tennessee Lodge, No. 5, and Memphis Lodge, No. 6, both of Memphis. The first Grand Chancellor was Calvin McCorkle, of Knoxville. The rep- resentatives to the Supreme Lodge elected at the same time are W. Brice Thompson, of Nashville, and W. R. Butler, of Murfreesboro. Since the organization of the Grand Lodge the chancellors have been T. S. Jukes, of Memphis; Alexander Allison, of Knoxville; W. P. Robertson, of Jack- son; J. J. Atkins, of Knoxville; B. H. Owen, of Clarksville; H. S. Reyn- olds, of Memphis: R. L. C. White, of Lebanon; E. S. Mallory, of Jack- son; R. J. Wheeler, of Nashville; W. C. Caldwell, of Trenton; W. R. Carlile, of Chattanooga; George S. Seay. of Gallatin; L. D. McCord, of Pulaski, and M. M. Niel, of Trenton, the present incumbent.
H. S. Reynolds, was chairman of K. of P. Relief Committee at Mem- phis during the yellow fever epidemic of 1878, and remained in the city, discharging his duties, until he fell ill and died of the disease. In recog- nition of his noble work and sacrifice of his life the Supreme Lodge of the World, by special dispensation, placed his name on the roll of Past Grand Chancellors in the following words: " The name of Brother Reyn- olds is placed upon the list of Past Grand Chancellors, though he died during his term as Grand Chancellor; but he died nobly at his post of duty, and immortalized his name in the annals of Pythian Knighthood."
There are at present twenty-six lodges in the State, with an aggre- gate membership of 2,012. Financially the order is in excellent con- dition, there being on hand in the treasuries of subordinate lodges on December 31, 1885, the amount of $5,543.64 cash, while the value of lodge furniture and real estate is estimated at $21,597. The Grand offi- cers, elected at Clarksville, in May 1886, are as follows: Sitting Past Grand Chancellor, George E. Seay, of Gallatin; Grand Chancellor, M. M. Neil, of Trenton; Grand Vice-Chancellor, Henry W. Morgan, of Nashville; Grand Prelate, G. B. Wilson, of Clarksville; Grand Keeper and Recorder of Seals, R. L. C. White, of Lebanon; Grand Master of Ex- chequer, W. A. Wade, of Milan; Grand Master of Arms, T. C. Latimore, of Chattanooga; Grand Inner Guard, E. L. Bullock, of Jackson; Grand Outer Guard, W. G. Sadler, of Nashville; and representatives to the Supreme Lodge, George E. Seay, of Gallatin, and R. L. C. White, of Lebanon.
320
HISTORY OF TENNESSEE.
The Grand Council of the American Legion of Honor was organized at Nashville, August 3, 1882, by Deputy Supreme Commander Michael Brooks. Past Commanders from ten councils throughout the State were present, and the following Grand officers were elected: George F. Hager, Past Grand Commander, Nashville; S. H. Day, Grand Command- er, Cleveland; George F. Fuller, Grand Vice-Commander, Nashville; W. Z. Mitchell, Grand Orator, Memphis; Frank Winship, Grand Secretary. Pulaski; Frank A. Moses, Grand Treasurer, Knoxville; J. Radomsky, Grand Guide, Nashville; E. G. Buford, Grand Sentry, Pulaski; W. Z. Mitchell, George F. Hager and Julius Ochs, Grand Trustees. George F. Hager was also chosen representative to the Supreme Council.
The growth of this order in Tennessee as in other States, has been rapid, and owing to its careful and economical management it is in a splendid condition financially. There are now in the State sixteen sub- ordinate councils with a membership of about 900. The Grand Council now bolds biennial sessions. The following are the present officers: George F. Hager, Grand Commander, Nashville; Joseph Wassaman, Grand Vice-Commander, Chattanooga; W. Z. Mitchell, Grand Orator, Memphis; Alexander Allison, Past Grand Commander, Knoxville; F. C. Richmond, Grand Secretary, Knoxville; F. A. Moses, Grand Treasurer, Knoxville; John T. Rogers, Grand Guide, Cleveland; Samuel Strauss, Grand Chaplain, Chattanooga; Henry Benzing, Grand Warden, Nash- ville; L. Williams, Grand Sentry, Cleveland. W. Z. Mitchell, Memphis; John B. Everitt, Nashville; Henry Benzing, Nashville, Grand Trustees.
The Ancient Order of United Workmen originated in Meadville, Penn., in October, 1868. The first lodge organized in Tennessee was Ten- nessee Lodge. No. 2, instituted at Nashville, November 26, 1876. When this lodge was organized it was supposed that Lodge No. 1 had been formed at Memphis, but this was found to be a mistake, and consequent- ly there has been no lodge of that number in the State. On February 22, 1877, representatives from six subordinate lodges met in Nashville, and organized a Grand Lodge with the following officers; Dr. G. Schiff, Past Grand Master Workman; John W. Childress, Grand Master Work- man; John M. Brooks, Grand Foreman; D. W. Hughes, Grand Overseer; Thomas H. Everett, Grand Recorder; J. M. Barnes, Grand Receiver: P. R. Albert, Grand Guide; C. A. Thompson, Grand Watchman; Dr. G. Schiff, John Frizzell and John W. Childress, Supreme Representatives. According to the provisions of the constitution adopted. the meetings of the Grand Lodge are held at Nashville on the third Tuesday in January. Annual sessions were held until 1883, when biennial sessions were sub- stituted. In 1878 the number of subordinate lodges was thirteen, with a
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321
HISTORY OF TENNESSEE.
membership of 742. There are now in the State fifty-four lodges and 1,900 members. The A. O. U. W. is said to be the oldest beneficiary secret society in this country. It embraces in its membership men of every vocation, profession and occupation. employes and employers, workers of all classes. It has no connection with any religious sect or political party, but is designed to promote mental and social improve- ment and mutual assistance. The amount paid in benefits in Tennessee since its introduction into the State is over $562,000.
The order of Royal Arcanum originated in Massachusetts, where the Supreme Council was incorporated November 5, 1877. The first council established in Tennessee was Nashville Council, No. 98, organized May 22, 1878, with twenty-eight charter members. During the next eight- een months councils were organized at Memphis, Knoxville, Chatta- nooga, Tracy City, Shelbyville, Edgefield, South Nashville, and a second lodge in Nashville. On February 20, 1878, official notice was received that a dispensation to form a Grand Council of the Royal Arcanum for the State would be granted upon the assembling of a sufficient number of Past Regents to constitute the same at Pythian Hall, Nashville, on March 9, following. In accordance with this notice a meeting was held at which were present twelve Past Regents, representing seven subordinate councils. The following officers were elected: A. B. Tavel, Grand Re- gent; W. Z. Mitchell, Grand Vice-Regent; A. M. Shook, Grand Orator; J. B. Everett, Past Grand Regent; I. K. Chase, Grand Secretary; T. H. Everett, Grand Treasurer; R. A. Campbell, Grand Chaplain; W. C. Dib- rell, Grand Guide; T. M. Schleier, Grand Warden; W. P. Phillips, Grand Sentry. Supreme Regent J. M. Swain then proceeded at once to in- stall the Grand officers, after which he pronounced the Grand Council legally instituted. A constitution was adopted, and the first session was closed. Since that time meetings of the Grand Council have been held in Nashville in March of each year. Although the growth of the order in the State has not been rapid, it has been remarkably well managed, and is now one of the most prosperous of the beneficiary societies. The number of members in Tennessee January 1, 1880, was 549. January 1, 1886, it was 1,106, distributed among twelve subordinate councils. Since that time Hermitage Council has been organized in North Nash- ville, with twenty-three charter members. Of the Widows' and Ophans' Benefit. Fund there was received, in the six years from 1880 to 1885 in- clusive, $105,383.01, while for the same period there was disbursed $168,000.
The following have been the Grand Regents elected since the first meeting: W. Z. Mitchell, 1881; Charles Mitchell. 1882; L. A. Gratz,
322
HISTORY OF TENNESSEE.
1883; Joseph Towler, 1884; H. W. Morgan, 1885; David Douglas, 1886. The Grand Secretary, up to 1885, was Irvine K. Chase. Since that time the office has been filled by Thomas Taylor.
On the 27th of February, 1882, George H. Thomas Post, No. 1, Grand Army of the Republic, was organized at Nashville. At the out- set the Post was very weak, numbering only sixteen charter members. May 1, 1883, the Provisional Department of Tennessee and Georgia was formed, with four posts and a membership of 136. The posts at that time, besides the one mentioned, were Lookout, No. 2, at Chattanooga; Memphis, No. 3, and Lincoln, No. 4, at Nashville. The Department of Tennessee and Georgia, comprising the States of Tennessee, Georgia and Alabama, was organized February 26, 1884, under special order No. 4, from national headquarters. The following were the department officers elected: Department Commander, Edward S. Jones, Post 1; S. V. Department Commander, S. S. Garrett, Post 3; J. V. Department Commander, Newton T. Beal, Post 17; Medical Director, Frank Weise, Post 1; Department Chaplain, W. J. Smith, Post 3; Assistant Adjutant- General, James Chamberlin, Post 1; Acting Assistant Adjutant-General, Charles W. Norwood, Post 2; Assistant Quartermaster-General, Henry Trauernicht, Post 1; Department Inspector, Henry R. Hinkle, Post 6; Judge Advocate, L. A. Gratz, Post 14; Chief Mustering Officer, J. T. Wolverton, Post 7; Council of Administration, Edward M. Main, Post 1; T. B. Edgington, Post 3; Peter Martin, Post 4; A. B. Wilson, Post 8; Samuel Long, Post 17. The first annual encampment was held at Chat- tanooga February 26 and 27, 1885, at which time the Department Com- mander reported twenty-eight posts on the rolls, numbering 989 members in good standing. The department now numbers fifty posts, having an aggregate membership of nearly 2,000.
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323
HISTORY OF TENNESSEE.
CHAPTER XI.
STATE INSTITUTIONS-EARLY MANAGEMENT OF THE FINANCES-THE CREATION OF THE STATE DEBT-THE BONDS REFUNDED-THE QUESTION OF REPUDIATION -MEASURES TO LIQUIDATE THE INDEBTEDNESS -- THE STATE BANKS-THE IN- TERNAL IMPROVEMENT ERA-STATE RAILROAD STOCK-IMPROVEMENT OF NAVIGABLE WATER-COURSES-THE TURNPIKE COMPANIES -- ILLUSTRATIVE RECEIPTS AND DISBURSEMENTS-INTERNAL RAILWAY PROJECTS-THE INTRO- DUCTION OF STEAM WATER-CRAFT -- CATALOG OF STATE OFFICERS - ELEC- TION RETURNS-FORMATION OF COUNTIES-POPULATION BY DECADES-STA- TISTICS, ETC.
H AD it been possible to maintain the primitive simplicity of the early government, little difficulty would have arisen concerning its financial management. The expenditures and receipts were very evenly balanced, the former consisting mainly in defraying the expenses of legislation. In the Territorial Assembly of 1794 Mr. Donelson, from the committee appointed to estimate the expenses for that year, reported the probable expenditures at $2,390. The rates of taxation, as fixed at this session, were 123 cents on each white poll; 50 cents on each black poll; $1 for each town lot, and 25 cents on each 100 acres of land. The Council had strongly urged that a tax of 123 cents upon land was suffi- cient, but after considerable discussion, and several offers to compromise on their part, they were forced to yield to the House, which stood firm for the rate fixed.
The following is a detailed account of the expenses of the Legislative Council and House of Representatives for the session beginning August 25, 1794, and ending September 30, 1794. The per diem allowance for each member and eath clerk was $2.50, and for each door keeper $1.75. All were allowed for ferriages, and $2.50 for each twenty-five miles of travel.
LEGISLATIVE COUNCIL.
Griffith Rutherford, 37 days, 322 miles, 4 ferries $125 70
John Sevier, 37 days, 200 miles, 2 ferries. 112 16g
Stockley Donelson; 37 days, 130 miles, 4 ferries. 105 833
James Winchester, 15 days, 312 miles, 4 ferries. 69 70
Parmenas Taylor, 37 days, 102 miles, 2 ferries 102 86g
G. Roulstone, clerk, 37 days. 92 50
Stationery and engrossing. . 47 50
William Maclin, clerk, 37 days, 380 miles, 4 ferries. 131 50
Stationery and engrossing. . . 47 50
Christopher Shoat, doorkeeper, 37 days .. 64 75
Thomas Bounds, doorkeeper, 34 days, 12 miles. 60 70
John Stone, house rent. 10 00
$970 711
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HISTORY OF TENNESSEE.
HOUSE OF REPRESENTATIVES.
David Wilson, 37 days, 310 miles, 4 ferries. $124 00
James White, 37 days, 370 miles, 4 ferries. 130 00
James Ford, 37 days, 420 miles, 4 ferries. 135 00
William Cocke, 17 days, 100 miles, 2 ferries. 52 333
Joseph McMinn, 37 days, 170 miles, 2 ferries. 109 833
George Rutledge, 37 days, 240 miles, 2 ferries.
116 83}
Joseph Hardin, 37 days, 150 miles. 2 ferries.
107 60g
Leroy Taylor, 35 days, 200 miles, 2 ferries. 107 663
John Tipton, 26 days, 218 miles, 2 ferries. 86 91%
George Doherty, 37 days, 60 miles, 2 ferries. 98 663
Samuel Wear, 37 days, 60 miles, 2 ferries. 98, 66§
Alexander Kelly, 30 days, 25 miles, 2 ferries. 77 663
John Baird, 31 days, 30 miles. 80 50
H. Lacy, clerk, 20 days, 100 miles, 2 ferries 60 33}
B. Harle, clerk, 37 days, 150 miles, 2 ferries. 107 66g
W. L. Lovely, clerk, 14 days, 200 miles, 2 ferries. 55 66g
Richard Mynat, doorkceper, 37 days, 40 miles. 68 75
Stationery and engrossing 102 00
James White, house rent. 5 00
$1,700 16%
The tax levy made at this session proved amply sufficient. The joint committee appointed to settle with the treasurer of Washington and Hamilton Districts for the following year reported the finances to be in a very flattering condition.
"Your committee beg leave to observe that the moneys arising from the tax levied by the last General Assembly very much exceeded their most sanguine expectations, and that such will be the state of the treas- ury department, that the next tax to be levied may be very much les- sened, and then be fully commensurate and adequate to defray every ex- penditure and necessary contingency of our government."
At that time the drawing of lotteries was not an uncommon mode of raising money for the erection of public buildings and the support of public enterprises of all kinds. There seems to have been no thought of any immoral tendency in the promotion of these lotteries, as schools and churches frequently instituted them. The following is taken from the journal of the Assembly of 1794: " A bill to authorize the drawing of a lottery in the District of Mero for raising a fund for erecting a district gaol and stocks in Nashville; endorsed, read the third time, and passed."
One of the first acts passed after the organization of the State gov- ernment was that establishing a treasury for the districts of Washing- ton and Hamilton, and another for Mero District. The treasurer of Mero District was ordered to turn over to the other treasury each year all the money remaining on hand, within six days after the meeting of the General Assembly. This plan was followed until the seat of government
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325
HISTORY OF TENNESSEE.
was changed. While located at Nashville or Murfreesboro the transfer of funds was reversed, and the treasurer of East Tennessee reported to the treasurer of the other division of the State. After the settlement of West Tennessee another treasury was established, and the balance of money remaining on hand in each of the other districts at the end of the year was delivered to the treasurer of Middle Tennessee. In 1836 the three treasuries were consolidated, and the first State treasurer elected At the same time the office of comptroller was created.
The following is the report of the Committee on Finance at the first General Assembly in 1796:
Receipts by the treasurer of Washington and Ham- ilton Districts.
$6,380 63
Disbursements . 5,838 03
Balance in the treasury. $ 542 60
Receipts by the treasurer of Mero District. $4,900 377%
Disbursements 2,297 33%
Balance in the treasury $2.603 03,9%
Whole amount on hand. $3,145 63,6
The first treasurer of Mero District was Howell Tatum; of the dis- tricts of Hamilton and Washington, Landon Carter. The expenses of the first General Assembly were $2,351.70. For the two years 1805 and 1806 the total amount of revenue collected was $36,181.72. The dis- bursements for the same period were $30,110.18, and the balance re- maining in the treasury was $8,253.19. For the years 1817 and 1818 the receipts were $118,008.173, the disbursements $62,689.31, and the balance remaining in the treasury $83,183.353. These amounts do not include the money set apart for the use of school and academies. In the settlement for 1825-26 an item of $3,826.50 is charged for the expenses of Gen. Lafayette, a large amount for such a purpose at that time, show- ing that the State entertained the French hero of the Revolution in a fitting manner. The following is an itemized account of the expendi- tures for the years 1829 and 1830:
Legislature $40,965 20
Executive. 5,687 50
Judges.
46,004 60
Attorney-general. 1,909 00
Militia 708 88
Public printing.
12,445 18
Criminal prosecutions. 23,041 86
County Commissioners. 1,912 27
Sheriffs' releases.
3,343 98
Treasurers' commissson. 5,374 74
Enumeration. 31 86
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HISTORY OF TENNESSEE.
Solicitors.
$3,518 05
Revenue paid out. 3,4S7 53
Wolf scalps. 2,676 00
Miscellaneous.
18,171 20
The receipts for the same period were.
$169,277 85
$175,986 52
Up to this time the government had been economically administered, and was free from debt. But it seems impossible for any State to emerge from the simplicity of the pioneer organization to the full development · of a great commonwealth without incurring liabilities beyond its power to meet at the time they are incurred, and it requires the wisest and most careful management not to overstep the limits beyond which it is impos- sible to recover. Tennessee has been peculiarly unfortunate in this re- gard. Drawn into the extravagant schemes of the internal improvement era, she was almost overwhelmed by the losses and disasters of the civil war, and still further embarrassed by the rash and inconsiderate legisla- tion of the reconstruction period; and it is only during the present ad- ministration that the question, how to preserve the honor and credit of the State, and yet work no hardship to the taxpayer, seems to have been solved.
The first indebtedness of the State was incurred in 1833, when $500,- 000 of bonds were issued for stock in the Union Bank. Under the acts providing for internal improvements and the State Bank the bonded in- debtedness rapidly increased. In his message to the Legislature in October, 1839, Gov. Polk presents the following statement of the financial condition of the State: "The whole public debt, exclusive of the internal improvement bonds authorized to be issued by the last General Assembly, and exclusive of the State's portion of the Federal revenue held on deposit, amounts only to the sum of $1,763,666.623. To meet this the State owns $646,600 of stock in the Union Bank, $1,000,000 in the Bank of Tennessee, and $263,666.663 in internal improvement compa- nies, chartered previous to the last session of the General Assembly. The internal improvement bonds which have been issued under the act of the last General Assembly bearing an interest of 5 per cent amount to $899,580, making the whole public debt of the State of every de- scription, exclusive of the Federal surplus revenue which she holds on deposit, $2,666,166.66§." The amount of the surplus revenue received by the State was $1,353.209.55, none of which was ever returned to the General Government.
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