The daily crescent. [volume] ([New Orleans, La.]) 1848-1851, 1849-03-15

BILE the payment of the debt such as real estate under
$4,000 leaving the ota debt be provided for % OOO
or about five per cent OF the assessed value of taxable
proportion, than the debt either Of New York Boston or
Baltimore The rate OF taxation on real and personal prop
than in the first named city The Misrepresentation which
frequently made this subject have suggested the pro-
pnety OF stating these unreasonable facts
The year 1872 precated
the Compoe annual statement ssOOOO 90
And that OF the expenditures and unavoidable payments
Interest floating and funded debt ..... $4,000 90
Public WORKS rky $1,000 co
floating debt. 1880 Co
ing Fund IN lSis. 10000 90
Estimated reduction during the year s2ii,35O 90
1t IS however, mpossi be estimate. with degree of
certainty NE amount OF expenditures which may be nece
se on MnarVss hevees and landings and tor PavRs
The deduction Of the debt 5tG as estmaed
objects may from that estimate. But may safely be
assumed that by the lst Of January next the reduction of
administration of Municipal affairs in other hands
and when the debt had reached its highest point and the
s ssS 6 the Municipality " lowest will not be less than
When considered that the aluvia deposit of the river
along the front of this Municipality such have
quei in order to proper facilities during
during Glss sna
streets and STU 243 80 for public education, neither the
comParedlwithiohe cities unreasonaby heavy Nowith.
standing the great expenditures incurred for these objects and
know there has been considerable Ammunition Of the debt
made. The Committee herewith submit resolutions pro.
dns or the purchase and redemption Of s75 goo OF the
Funded debt by the Sinking Fund in the Union Bank and
The saved to the Municipality. during the year,
in principal and Interest, by the redemption Of its bonds by
means OF the Sinking Fund system is s246s8
During the last year FIST class dredging boat has been
vial deposits in front of the whaves may a very
M he X
pendqye of from $4,000 to $50 900 annually.
The Finance Committee in its last years report urged
the Council the great importance of observing making all
appropriations the most rigid economy, and Of avoiding all
by Comptroller annual account that the expendi
lures for vanons objects, usually clased extraordinary
The enterpr,ng spirit Of our Citizens i. visible in every
part of the but recently considered
constructed residences and inhabited by and
BY the ouas aus sks s to been
tension OF new streets extensive dtchng and draining,
deab the es
expenditure without producing corresponding increase
the year in the rear Of the SEVENTH Fourth and Second
Mard have by Their visible effects furnished ample cyl
which every given to extend population in
The demands on the Treasury by the Commissioners of
the General sinking Fund to pay the proportion io Which
ting at the time of the division of the City into three Mu
inequalities IN 1886 constitute heavy item OF expenditure
General Council 81 54l0O per cent This Committee has
several brought the vicious and unjust system
created by the act of the 9Th of May 1886 for the quIda
ton of the City debt before this Council with the hope that
the who have deep an interest in the Ise ana ana
obtain eectna remedy for the evils which that system
shall be applied New Orleans must occupy humiatng
position among the other great cities OF the Unon as me
cga Of its obligations held By them. ''0
OF things ncalculable Confidence, essential to
the prosperity of commercial community most senousy
i've hqe
odium which thus attaches to all and 1T by no means
ties should BE- So dpe when for Which
three are responsible entirely dsegaded indeed to TINS
rassed condition Of our sister Muncpatie both possessing
ample to their debts reasonable time and
TO eop the sources of prosperity which are within their
limits. 49,
The funding of the floating debt, of the Municipalities
would al extricate them from all pecuniay embaass
men,s and would insure the puncusi payment Of the pn
cpa and interest. Were funded and It should be made
by law the duty of the General Council provide annually
D the Municipal Ta1es could at BE-
oneha while the tax laid by the General Council need moi
1t may be well to show how important the measures
posed to the tax payers OF this Municipality and with
then adoption by aiding in funding the existing floating
debt. taxed Capital or Real Estate valued al
s00 coo pays $780, Ii he should fund OF the floating
debt $40 o. he will receive annually SO interest, and s
ou be- thus SGa Be
dollars the interest received and diminished tax together
twelve per cent on the inTestmea but this dimnuion Of
tax contempates the city debt and being proy
therefore to be three dollars per $1,000 in such the
would receive and equal TO nine cent per an
electualy contributed towards rescuing city
from the ep9aeh to which i now subjected , hon
orabe distinction of having first successfully established the
and for having bonght that system to degee of perfection
which commands the admiration of those the most dlstin
cause of Public Education This has been effected great
and times when the depressed condition OF every
such an object, sacrifice patriotism, and evinced
precaton Of The value Of public education as credabe to
them will be fruitful OF benefits to the rising and future
generations Good deeds with them their reward our
schools are now at once source OF Just PRIDE ana OF nGs
cuabe advantage TO community. But IN the eNpend
ure for their maintenance and then increase we
houses Sc wRcR Wou3 involve an expenditure Of $50 900 are
recommended by the Board of Directors of the Public Schools
be erected and egby situated in the Flrst Fourth
Third and sixth Wards have been purchased therefor but
to build them would probably render necessary TO In
ng ccumstsnce. expedient The act of the Legislature
establishing Public school system for the State operate
general School Tax and dsbues the money thus raised
manner that of the Of School Tax levied on this
Municipality in 1877 s42 $50 81 (ot which on the 9th OF
psg i to- s sse and las only
So in fact by the operation of that law are taxed sly
we s se taHns onneye upwards Of $4,000 for the
The Injustice of this is illustrated by comparing the opera
ton of this law in several Parishes in the interior
Sabneis taxed. School tax, S5aS " y,
And has received from the state. ........S9SS @.
Washington Is taXed X
And has received re-
Livingston is taxed S3g 9
And has received 10
These three parishes have already received s6lS5 more
than they contributed and with many Others -,
The potsx collected by the State s as well as the n-
tax appropriated to the support OF public sehoo 9ut re-
turned for that object TO the Municipality or pars within
which has been collected the rule, 1t woa!1 seem,
should apply the mill tax and if il the injustice
of which the Second Municipality has so much reason to
| complain would be etfecuay remeded. ~
During the years 14S and 1s49 the State will have re-
ceved from the people of the Second Municipality OF the
ilI tay ahout $40 900 more than will have returned to
them for the support of their public schools As tins
amoupt will be distributed among other parishes unde. the