New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1852-08-09

erosion, and, we presume, he will promise never
to be found in such company again.
THERE'S no disposition to, drag gentlemen's
names before the public; has those who live in
glass houses should Not throw stones. If the
Delta would institute an inquiry among its
friends, it will be at no loss to find an answer TO
its first question.
Much stress is laid upon the fact that the
usual bankers commission of one per cent. was
allowed to Messrs. Corning s Co., for aiding in
effecting the sale of the bonds In Judging of
this, the USUAL rules applicable to business life
should be regarded. NewOrleans was the debtor
party, soliciting an extension ii the time of her
payments. 10 do this II was necessary that n
statement Of her affairs should be made, and
that it should be accompanied with such au-
thority as to claim the credenee Of capitalists
IN 'nls community, where the Commissioners
are known, reliance might have been placed
upon their statement; but as the best bids were
70 DC expected from abroad, it was necessary
thes statement should he placed before the
european public in snch a way as to command
the confidence Of its capitalists. 1t is notorious
that heretofore every effort has been made to
dlsofedlt the statements made by the officials of
this city; and however true they might be, it
was, therefore, the part of wisdom to give them
the stamp Of high authority. This could only
be done by the endorsement of banking house
Of known solidity and reputation This was
done by Messrs. Corning s. Co., for the usual
bankers commission. They agreed to pay ex-
penses, which, it is said, will amount to from
to 8 thousand dollars.
The gentlemen prepared pamphlet, setting
forth the condition of NewOrleans, the sound
ness and advantages of the loan, which were
sent in large numbers over Europe, and it is
probably to these pamphlets that the city is in
debted to the. very satisfactory sale of the
bonds. 1t is customary, in the negotiation Of
all bonds, that some banking hoase should be
employed, Recently Messrs. Duncan, Sherman
~ Co., were employed to negotiate the bonds of
Mobile, endorsed by the Mobile and Ohio Rail
road, and though the bonds bore per cent. per
annum, they brought but par. It can not be
doubted that there are many who would have
undertaken this negotiation for much less
commission, but would they have brought the
negotiation to as satisfactory RESULT 1t
would be well to estimate the fruits of this ne
gotiation before the commissioners are accused
of extravaganza in the employment of the
means necessary to produce them.
May it not be that the sin of the commission
ers, in the eye of the Delta and its correspond
ent, consists in being wings, and in not employ
ing as their agents special and particular IA
Yorites Of the Delta? 1t is said that the COM
mssloners INTEND, as soon as they have adjusted
the debt and established the finances con-
nected with the old city debt upon firm basis, ]
to make report of their stewardship through
the Council to the people; and, in the mean
time, they will not be diverted from the per-
formance of their duty to win the smile or avert
the wrath Of any one. 1t is said they feel
strong in the correctness of their course, and |
are prepared, not only to defend themselves, |
but to show who have been most active in |
thwarting the interest of the city. They feel no
desire to throw anything personal into their
statements, but if forced to it, will protect their
OWN good name; such a course any one should |
eel at liberty to pursue; but it is to be hoped |
hat such insinuations as are put forth by the
correspondent of the Delta, will not again be
lazarded without some better foundation.
Ii the matter is pushed, if a controversy is
creed, we shall be compelled to revive all old
we had hoped buried) controversy, and to
tate some new facts, which will look rather
queer to the public We may be compelled
o prove what we have already intimated, that
he instigators of the Delta's articles disap-
,ointed in obtaining the brokerage upon the
'onds of New0rleans, really sought to discredit
What they now claim to have advanced We
eek no controversy, but if forced, we know
where the proof of what we intimate can be
ound. FIVE take up the subject again, we shall
commence with the proposition of u NewOrleans
enator in the last Legislature, to pay our debt
l an impossibly brief time, and at a ruinous
ltsrest, and shall follow this up with the state
tent Of some curious facts, In the meantime, {
show consistency, we re-publish the following
musing editorial of the Delta, of the 3Oth ult.:
We take very sincere pleasure in referring to the an
,uncement below OF Messrs Converse and Place, Com
issoner for the sale of city bonds in NewYork-a
ty which they have performed with much credit to
lemselves and in manner so highly advantageous to
ie interest and the credit Of the city The several bids
" those bonds will be found in commercial article
lis evening The City of Neworleans is now where she
loud hare !ens since heencear out of the grasp of
hylocks and shavers her matured debts all paid or about
be paid, and her financial credit and character re-
Established Messrs Converse and Place are paving off
10 obligations of the several former municipalities and
the late City Of Lafayette fast they are presented
them In Newfork and Colonel Garland the able and
milar duty here. q
Last Friday he paid 100000 of the old debt and
Tuesday and Wednesday paid each day about $4,000
ne demand on the Treasury has since we learn fallen
|, and but few claims were presented to-day
This healthy tone of the finances of the city cannot
IL TO nave highly beneficial effect the general bust
ess of the city .
ANNlHlLATIoN.-We understand that the Or
m Of our friend, l. N Marks, the Campaign .
epublic, "a paper we never read,) has been s
'wn upon us lately, "like o thousand of t
ticks '--insinuating one thing or another
ne operation of destroying us is very cruel :,
lie. The superintendent of thep paper Tour friend,
arks) may have some reputation as being
death on editors" but we beg he will not an
hllate us through the immense pressure of his $
organ. lie is the only party we +
now of, who supervises that " able and brilliant G
aper the Campaign Republic; every other
comment member of the Wing Central Com. :
ittee having told us that he neither knows nor h
Tres any thing about it; and we can only BEG "
INN and his associate not to open their des- 7
uctve batteries upon us If they do, we shall |,
compelled to take to corner, or request one N
our Lafayette contemporaries to furnish us, for \
publication, with one or two articles about c
70 years old. Our friend, Marks, is very \