The daily crescent. [volume] ([New Orleans, La.]) 1848-1851, 1850-02-04

NJ N \. -,
~. I,
s.;s. .sa f,t,,ss ,la.,;,s s
4 $500. - e, ,xo,...,,,... s-,;.h..s5
5,..,;.,,., e a.
,,. ,lsr ~ f,,s.ra W. ssll
.,y,s.vor 4, ~ ..,ls. y, 81 a,,.
49,. Z, 49,. -. .s.;,l,a,,, ~,
.,.,.., :, q s.. .a.,s.. ., fs,.f
.sa,;s AZ -e.i.,,,.l. a,..n,.as.
,.:s - . 49,, ~
AZ, e - Ar...t 1eae ,,,hh ,.;la 4, ,nant.;rad
az - * M, II ,o.,,sr. ~ common ~
.es.... "a ~ 49,, "a. q s,oh .sc,;or M
r;a,.,;,,, ,,,aar ~ an,.;va cootrol f =. ;,h,t
5,n,.
III. M,vor aud Ssensr,l f;onnc;l ,ya,s h, 10,
a,s,;s,,ed he ,du;n;str.t;ye an,bor;,,r e H.
mbols. ,hs;r rosve,s !. sncb ,vsrs dst;n.d III
lu,,sd aod 4 has been clearlv shown a.. H. ~
restr;ete limitation Of their no,srs and ,;s. ,;,b
,esnect ii the debt Of The ;tv sx;s,;ne :. ~. .;r
/ 4 h Great measure IL mi en,;ral,, ~ o,,.a q
4 he ,,eounarv difficulties .,b;ob b,,a g, .;,
embarrassed the finance. ~ ,be Mun;ci,,l;,;e.
The debt. then amounting q, .bo,, a. ooo mn
was matte, of co,,,,o, ;,,.a.... H.. (. La,,5
have aevolved 4, nc NJ, ra.a.a,.;,- -,
CITY to nrov;ds for ;,s r,,,,,,sn,
This. indeed. was a,temnted bv ,h., law I'm, he
mode sdon,sd 10. soon so,na - = 49,, ;nar
c;ept for The esnsraI t,opnc;I we've a;raot.d
| nualiv 70 cali On he .en,ra,e Mrn;c;r.l;,;ss a.
the;r ye.nec,;va nro,o,t;ons ~ ~ ,.alad
and that bv rule most arbtrarv and ,n;rst--ac'
eordipe 10 their relative revenues Ths neonle ~
he second Muuo;nal;t, who =, tbs ,;,,a of d,;s-
ion found themselves destitute If svsr,, ;,,Drova
ment essential q tbs;r r,osrer;,,. oor .an,,sno.
If The sectional bos,;I;,v .nd na,;on.I ,a;,,d;oo
which had induced The Ioo;.I.,rra ,,,h art,,o,J;
nary unanmity. 10 adopt the act Of tsa6 yv;tbou,
wharves for the convenience If cor,,os,oo ,,,;,h
out paved streets-witbout ,nsrket.bonsss enoins.
houses nub6s schools and xy;,bo,,, roi;os
Obliged 10 provide for all these and altbouab 81,
tain writer's so far nresume IN IL gnor.roa - ~
people as to assert, this Municpality has "potbine
to show for It's debt, the above enumerated objects
have actually cost to the Treasury more than double
he a,nonnt If that debt A. he ,o,s1 io,, 60
all sources within the limits of the Second Munich
paIity was at that time only $4,000 DER annum-
4 sum insufficient to pay the unavoidable current
expendtures-it was obvious to ALL that those great
improvements which within a few wears thereafter
had effected change most rnagical-had converted
this portion Of New Orleans, which in 1886 was a
neglected faubourg Of the city, into the most i'm.
portsnt, most valuable, and most populous part of
the whole--could only be achieved BY borrowing
the money, and relying on the means which were
to result from such an enlightened policy for
the payment Of the debt so created. The result
has fully realized those authorizations. and al this
time the amount of revenue of the Second Munich
paity, adopting the same rates Of taxation on real
and personal property as those Of the oitv Of Nav
York = namely, one and one-tenth per cent
amounts to over 100000, while its local debt does
not exceed, deducting means in its possession. an.
plicable to its payment, So, 1000 or three times
we e, amount Oh US annual income
Inc oeDt Oh 'ne FIRST municipality, where i'm
inense improvements nave also been made since
iooo' pears yet less proportion to Its annual reve
nue. assuming the New York rate OF taxation on
real ana personal property.
AS to the Third Municipality, which, since 1886,
has more than doubled its population, the proportion
OF income 70 debtIs not so favorable but there good
reason to believe that the time is not distant when
this portion Of our city will not be far behind her sis
tiers In prosperity and in pecuniary resources Now
in New York the city debt is six times greater than
its annual income Real estate is there assessed at
one-t6rd to one-haf more than it is here in proper