If all property be assessed at the same rate,--whether for the full value or for ten per cent, of the value of the property,--the payment of each owner would be unaffected; for the higher the assessment, the lower the levy; the lower the assessment, the higher the levy.

Our State revenue is mainly derived from a six mill ad valorem tax." When the Alcorn administration took charge of the State Government the War had just come to a close.

Everything was in a prostrate condition.
There had been great depreciation in the value of real and personal property.

The credit of the State was not very good.

The rate of interest for borrowed money was high.