History of Tennessee, its people and its institutions . ts on the dollar, and three per cent interest, and making coupons receivable for taxes. The Supreme Court declared this act unconstitutional, and the vexed question was again opened. Three extra sessions of the Legislature were held. At the third extra session an act was passed to settle and fund the State debt into bonds at sixty cents on the dollar, with graded interest at three per cent for two years, four per cent for thenext two years, five per cent for the next twoyears, and six per cent thereafter. Thisact was approved May 20, 1882
History of Tennessee, its people and its institutions . ts on the dollar, and three per cent interest, and making coupons receivable for taxes. The Supreme Court declared this act unconstitutional, and the vexed question was again opened. Three extra sessions of the Legislature were held. At the third extra session an act was passed to settle and fund the State debt into bonds at sixty cents on the dollar, with graded interest at three per cent for two years, four per cent for thenext two years, five per cent for the next twoyears, and six per cent thereafter. Thisact was approved May 20, 1882, and bondswere issued under it to the amount of$8,211,000. Like its predecessors, it wasunsatisfactory to the people. At the beginning of his Hawkins appointed Dr. W. as State Superintendent of PublicInstruction. Dr. Doak was a descendantof Rev. Samuel Doak, the pioneer of educa-tion in Tennessee. His useful career wasclosed by death in 1882. He was the only State Superintendent of Public Instruction who died in Hon. w. S. Doak, Superintendent Public Instruction 266 History op Tennessee;.
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