New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1852-01-08


me would repeat all That Mr. benjamin had said last
evening on she OF TAXING property" we have only
"puS sa'eS 'hoVeapies, machinery houses ana stocks
on the Plantations; ana landed property means
houses ana lois In New Orleans The question whether
our pocy 10 TAX anything but landed property will be
ecioeo by inc Legislature Mt hobb explained why it
necessary In be country to resort to taxation to
cure means fof internal improvements. 1t Is argued
that such taxation Unequal in its operation but II is
no. 80 Inc hho IL penetted by the improvements for
wch IL Is taxed and there can not be any injustice in
| the principle involved
when Newfork and Ohio commenced their great works
they levfd Their canal taxes gentleman had told him
that he happened to he in one of the counties Of Ohio
soon aer the passage oil the Law IN That state when an
Indignation meeting was held by the inhabitants and they
threatened 10 hag the sher or the deputies that should
attempt 10 colbert the TAI IL was not long however be-
lore the farmers OF very COUNTY we're Getting no cents
per bushe for their wheat which before had brought them
~ cents only ana then they were ready to hang
VINO would gainsay the canal.
lie would show how great an interest NewOrleans had
In 'e trade OF the world 1t has been said that she can
never heoome great importing city-but it is not so
When <lir establishes these projected connections she will
have Her share OF foreign commerce S" now has to pay
for c"rh ship Coming ~ TINS port the eSrenS" OF two pas
sage but when we shall be aide to reach Nashville in 20
ho'fs and o'ier places IN propnronate time ahal
have attained even the destiny Of great importing city
II" WON'T ASK "lsat agency 1t required to receive sell and
snip 9oOoo bales OF cotton single counting housc will
d" IT. ana even ndw-yes 10000 bales And what agcn-
ciT are required I" distribute e proccehs-say one ana
half millions of dollars Why about 200 persons. who
Will occupy 2 places OF business residing in 200 houses,
employing nbor" backSmths carpenters and all those
industrial AIDS that constitute the elements of prosper
Gus city Our vacant lots would be filled with dwellings
and property would increase in value throughout our
borders l.
may tax about the receipts Of cotton and Of sugar
anu all ths but Neworleans fails to become great i'm
porting CITY she Will fail in all
1t Is asserted that NcwOrleans has no banking capital
ETC. but the assertion is not true. Look at Boston.
mat city derives Its Importance from commerce All
know full well the Importance of Boston commercial
clty Boston with all her commerce and all her
lectures, has SlSOOooOO banking capital NewOrcans
without either. has $4,000 600 NewYork with her I'M
mese population and trade has S25O0oOo0 banking CAPT
tai while Neoreans ''as ten millions active capital and
seventeen millions inactive. OF deposits. NewYork has
S25WOOCo, while NewOrleans has only SS.000O0O less
The proportion OF active capital is therefore two and
malt to one Willie OF population it is six to Phadc
PIMA has less banking capital and less deposit than New
orleans,
Baltimore long since foresaw what NewOrleans ought
to nave foreSeen That her natural advantages could not
secure for her commercial preponderance. and she
began to build railroads
Baltimore has now s3Oo0ooO less banking capital and
soooooooicss OF deposits than NeWorlcans.
Cincinnati has only one and quarter millions Of bank
ing capital
81 Louis though having population equal to that of
NewOrcans, has banking capital only to the amount of
half million Of dollars.