New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1852-04-26
MONDAY MORNING, APRIL %, 1852
~ For Sheriff's, Constable's, and Public Auc-
tioneers' Sales rec Third Page.
oomnis.ionsrs q The Consolidated Debt.

Commissioner Of The Consolidated Debt.
This Board, the title Of which forms our cap
zion, seelns to unite warmly in the general dis
position 81 the majority in power to urge for
ward the public interests, regardless Of any
clarnor Or any false representations Of increased
taxation, etc. It is composed entirely of men,
bars Of the party in power. The Mayor, Cross
man, Converse and Place, Chairmen Of Finance
Committees, DeBuys, Comptroller, Garland,
Treasurer, compose it. We have to state some
facts which show that it approaches its duties
with boldness, an independence and an intelli-
eence which must command the confidence of the
public, at home and abroad.
On last Saturday evening the Board decided
to issue Two Millions of Bonds, at 6 per cent
per annum interest, to run forty years. the pro-
ceeds to be applied to the liquidation of the ma
tured debt and accrued interest Of the Four
Districts Of which our city is now composed
The bonds are to be sold here and elsewhere.
The capitalist could not have a more favor
able opportunity for investment. The bonds are
q legal mortgage upon all the real estate of the
city Of NewOrleans, with what may be termed
the collateral security Of current taxes. The
interest is payable at such points as may be
agreed upon between the Commissioners and the
parties to whom they are issued, The sharp
sighted business man will not fail to note in this
an excellent opportunity to create profitable
exchange. For instance: if interest be payable
in Network, the city Of NewOrleans must Gre
ate exchange against which the bond holder can
draw. Again an annual tax of Six Hundred
Thousand Dollars must, according to the Char
ter, be raised by ordinance to Gquidate the
obligations for which these bonds are issued.
Considering these facts, and remembering that
the bonds the bonds of the great and wealthy
city Of NewOrleans- for forty years. the
capitalist could have no better chance for invest
ment, excepting only the bonds of the United
States The interest must and will be paid
the tax Of Six Hundred and Fifty Thousand
Dollars, specially pledged to this. more than
secures the capitalist investing
We are happy to see this first and energetic
demonstration, one it seems to us intelligently
made, towards liquidating the debt, which, like
every other city of the newly opened up but adj
vancing Southwest, we have incurred. If there
were no future before New Orleans, if there were
no prospect of progress and improvement, we
should still be abundantly responsible for all we
owe, and all we now propose to contract for.
But it must be evident that, with the efforts
making in behalf Of concentrated strength and
improved facilities Of transport, NewOrleans is
to her future but what the child is to the man.
The trade west of the Mississippi-the trade Of
section richer and more extended than historic
empires must unalterably pay us tribute; and
in that portion Of the great Western Valley ease
sof the Mississippi, Ne already claim commercial
empire; and in it the most unfavorable view OF
the future, at least, shows us a reasonable pros
poet Of fair competition. 4s...