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Domestic News May 19, 1821

Alexandria Gazette & Daily Advertiser

Alexandria, Virginia

What is this article about?

Governor of Tennessee publishes letter detailing state resources: 40,000 square miles, land grants, treasury receipts and expenditures from 1815-1818 showing surplus, estimates of future funds, and total wealth including lands and bank stock valued at over $3.8 million.

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STATISTICS OF TENNESSEE.

The governor of Tennessee has published a letter on the resources of the state, from which we gather the following facts.

'The state of Tennessee, by computation, contains 40,000 square miles—equal to 25,600,000 acres.

Amount granted by Congress for colleges, &c. 200,000.

Aggregate amount of appropriated lands, 9,809,839.

Aggregate amount of vacant lands, 15,790,161.

Aggregate amount of vacant lands to which the state has an indefeasible title, 12,702,236.

TREASURY.

Receipts for 1815 and 1816, $78,709 42.

Do. for 1817 and 1818, 115,256 75.

193,966 17.

Expenditures for 1815 and 1816, 64,778 93.

Expenditures for 1817 and 1818, 62,689 32.

127,468 25.

Balance in favor of the treasury, Oct. 1st, 1818, 66,497 93.

Average amount of revenue for each year, 48,491 52 1/2.

Average amount of expenditures, 31,867 60.

Average balance in favor of the treasury, 16,621 00.

Estimate of the surplus fund on the 1st of Oct. 1822, 132,995 68.

The following is the account given of the debts due to the state, and of the value of bank stock and land.

Is 200,000 acres of land estimated at an average of 5 cents per acre, would amount to $1,000,000 00.

Add to this the sum due on the sale of Hiwassee land, 365,833 63.

From sales of occupant claims south of French Broad and Holston, 85,000 00.

Stock owned in the Knoxville bank by the state of Tennessee, 20,000 00.

Capital in the Bank of Tennessee, (precise amount not known, say) 200,000 00.

$4,267,833 63.

"Thus," says his Excellency, "it appears that the foregoing items exhibit an aggregate amount of wealth in favor of the State of Tennessee, of three millions eight hundred and forty three thousand four hundred and forty dollars and sixty three cents." We give His Excellency's own estimates in his own figures and his own words, only being unable to make words and figures agree, we presume that His Excellency must have studied arithmetic at the same school with the Secretary of the United States Treasury.

However, as this is the only endeavor that has been made since the first organization of the government, to present the gross amount and also the growing wealth of the state, before the public," a few errors may readily be excused and the Governor deserves the thanks of the people under his care, for the facts he has stated in his letter.

What sub-type of article is it?

Economic Politics

What keywords are associated?

Tennessee Statistics Governor Letter State Resources Treasury Balance Land Values Bank Stock

What entities or persons were involved?

Governor Of Tennessee

Where did it happen?

Tennessee

Domestic News Details

Primary Location

Tennessee

Event Date

1818

Key Persons

Governor Of Tennessee

Outcome

aggregate wealth estimated at $3,843,440.63 including lands, sales, and bank stock.

Event Details

Governor publishes letter on state resources: 40,000 square miles (25,600,000 acres); Congress grant $200,000; appropriated lands 9,809,839 acres; vacant lands 15,790,161 acres with indefeasible title 12,702,236 acres. Treasury: receipts 1815-1818 $193,966.17; expenditures $127,468.25; balance Oct 1, 1818 $66,497.93; average annual revenue $48,491.52 1/2; expenditures $31,867.60; balance $16,621.00; surplus estimate Oct 1, 1822 $132,995.68. Debts and values: 200,000 acres at 5 cents/acre $1,000,000; Hiwassee land sales $365,833.63; occupant claims $85,000; Knoxville bank stock $20,000; Bank of Tennessee capital ~$200,000; total $4,267,833.63 (noted discrepancy in summary).

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