New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1852-10-23

Fss.sDess 81 4 tltcushout Loulsians, "
|call upon 3cd y ~ ;sp nd doing. Evsry man
IL ~ POI, and every man with Scott ticket
~. <ke b6flot -bsx ~
Rally out your. ncighbors, and sea that every
iian yctes fbf WinHeid SCOTT 4 u "A 4 4 : 'i'''
Beware of che. tricks and last hour tales Of
our opponents They will be thick a. Autumn
leaves in your path but like Scott, in one 81
his most glorious contests, you must Know how
to recognize the enemy, even in concealment
and the dark.
MApisoxvlLE BARnEcuE Change ef Day Editors Of the
Courier will please In your paper thai
the Democratic Barbecue VIII take place Tuesday the
18TH inst The friends Of Fierce and King Invited tt
attend. ~ JOS Sasiris, Secretary
Oh ali! yesl We republish gratuitously
from the Courier Of yesterday DON'T you think
the postponement q capital joke, neighbors. al
sss Wa
QUEER Nov, does not the following item
look queer among the regular Geographic items
published in yesterdays Courier: .ss
aMAssAoHusErrs PoLIrlcs--Bostof October q The
democrats and free-soers in this city have formed
coalition far as the State ticket is concerned while in
City Bends.
Two advertisements in this paper from the office Of the
Commissioners Of the Consolidated Debt Of NewOreans
city charter extending consolidating and securing
the debts Of the old city the three former municipalities
and the city Of lafayette The first invites proposals for
the purchase Of million three hundred thousand
lars of city bonds payable here In forty years. with
six per cent interest semi in the city Of New
York the invites offers for bonds
Of This description the unatured bonds and obligations
OF the city any Of its former subdivisions The
by which this Is authorized Is In the thirty
ss
Is
between
dss.s ~ I'D shs
SPY the supplementary act annsxing Lafayette, the
provisions extended to the debt Of that dis
trict, and by another supplementary act the Commits
soners further empowered to sell such amount of
bonds might be necessary to pay the interest the
consolidated debt which may accrue before July, 1852
TIVE millions q bonds were recently sold II MexYork
tured debts and providing for the accrding interest
This exhausts the of the city to issue bonds for
any purpose whatever except for the purpose Of paying
OF maturing ebts Or to exchange for uninsured obiga-
tons It Is for this object that these proposals
issued and it must be not for the
purpose Of increasing the city debt They intended to
change its character and convert it into obligation
tho consolidated city entitled to the benefits Of the rigid
securities which the new charter the
Of principal and interest 4N
These securities make the new bonds Of the city an
investment inferior to none In the country The present
amount of the city bonds never be increased and
fast paid of it be renewed so as to in
terre with the specific guarantees given by the law for
these bonds No debt can ever be except by
the people, given at special election for some
single object work named in the ordinance approved
and every such ordinance must provide the means for
ftoY nHnht
pealable until those discharged.
These new bonds are therefore preferred charge
provision for them It i made By the charter The duty
Of the Common Council to pass in the month of January
in each ordinance to raise the Of $650000 by
special tax on lands and slaves to be called The Con-
soidaton Law Tax and to the performance of
this duty punctuay, it is provided that all ordinances
resolutions other acts passed by the said Council after
the first day Of January in each year shall be null and
void unless the ordinance imposing the loan
tax shall have been previously passed, These bonds
therefore, have the security Of Of capital upon
which they are specific and first liens
recapituate these details, which are familiar to
feet and solid is the security for these bonds They COLI
stitute investment safe be found anywhere
in this country or abroad" ,s5 ig5. .3;l
We take the above just remarks from the Pic
ayune yesterday morning, and we will add that
the present debt of the city, ~ 700, 1000, must
BY the provisions of the new charter, be reduced
every year. The annual income or tax of
S650,0U0, must first be applied to the payment
If the interest, and the residue to the redemp-
ion of a portion Of the bonds issued under the
let OF Consolidation. As soon as the debt is
'educed to uniform one, bearing 6 per cent.
interest, the annual interest will be $s452, 900,
which will leave of the $G50,000 about $4,000
o be applied to the redemption of the bonds
ssued by the Commissioners.
In addition to the intrinsic value which these
bonds will have, growing out of the certainty
of the payment Of the interest, and the SOL
vency of the principal. they will have an addi-
'ional value from being the basis of Free Bank
ng. 1t seems to be generally conceded that
lpon the adoption Of the new Constitution, that
he bonds of the Consolidated City will be
,dopted as one of the bases of Free Banking.
here cannot, therefore, be any investment
Which presents more advantages than the bonds
f the new city
The policy of the Commissioners as developed
n the two adjustments, which will be found in
ur columns, seems to be most judicious. For,
s soon as the debts shall be reduced to an uni
orm one, there can no longer be any changes in
heir value, save that which necessarily grows
ut OF the fluctuations of trade. The marked
hange which has taken place in our city securi-
les since the organization Of the Board of Com
nssloners, conveys a very high compliment to
he skill and wisdom of the course which they
ave pursued They found the city without
redlt-its obligations at a discount of twenty
er cent, in the course of a few months they
ave negotiated loan at above par, (Which is, !
m y j
re believe, the first time that either city or State
ecurities were ever negotiated above par,) suf1i-
lent to pay off the matured obligations, and |
ave provided means in London, Network, and |
t the Treasury, to meet the interest as it ma
ares A result so complimentary to the Com
nssloners and so gratifying to the city, could |
carce have been anticipated in the short space
A which it has been accomplished.
Boats Ieabtng port To.nap.
See Table on Third Fage
For Geographic news see third page 49,. |