New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1853-07-29


By reference to our advertising columns 1t
will be seen that the Commissioners of the Con-
solidated Debt propose to anticipate the interest
coupons and other obligations of the city, ma
turing between this and the first OF next jan
nary This announcement must be most
gratifying to our citizens, and reflects the high
est credit upon the manner in which the Com
missioners have discharged the duties devolving
upon them But little more than twelve months
ago our city was without credit, its obligations
hawked about the streets, and the spirit and
energies of our people paralyzed; but now,
owing to the able and judicious manner in which
the wise provisions of the Act of Consolidation
has been carried, the credit of the city has been
restored, its obligations not only promptly met
but means are in the Treasury to anticipate the
payments for year, and the spirit and ener-
gies of the people are directed to the completion
of those great lines of internal improvements
which are calculated to make New Orleans in
truth and in fact the Queen City of the South.
By the provisions of the thirty seventh sec
ton of the Act of Consolidation the amount of
$3.50 200, which is annually raised by special
tax, can only be applied to the payment of the
interest and principal of the bonds issued by
the Commissioners, and to the liquidation of the
coupons and debts of the several corporations
existing at the time of consolidation; and as the
Commissioners have already received near
100000 Of the taxes collected this year, and
having a considerable balance on hand, they
have wisely determined to anticipate the pay
ments Of the presentyear. The debt of the city
rs reported by the Commissioners in April last,
was $S,716,5l6 "a, and as the whole liabilities
of the several corporations had then been au-
dited and ascertained, the amount of the consoli-
dated debt can never exceed the above amount
indeed, we learn that since the report this debt
has been reduced near 100000, and under the
operation of the Act of Consolidation it must an
nually decrease.
If there was any thing wanting beyond the
wise provisions of the act of consolidation to
give confidence to the bond holder, the prompt
ness with which this tax has been paid, and the
fidelity and righteousness with which it is being
applied to the purposes for which it was intend
ed, must assure them that NewOreans will
promptly meet all of her obligations.
A reference to the report of the Commission
eTb, Hdue vi tue urst VI luSt April, Will snow
that the present state of their finances is not the
result of a casualty, but is the natural conse.
quence of the policy which they have pursued
The following statement taken from their report
will show the very satisfactory condition in
which this debt has been placed
The matured debt is.....,......S3O 359 So
Amount due in 1858, as per state
ment A. '.....,............,.. ol,S52 Il
Interest due LIST July,
1858, on old debt. .ss72, 1868 90
Interest due lst July,
new bonds. l66 ,020 00-S23S, 1888 90
Interest due from LIST July, 1853,
to the January, 1854, on whole
debt of $S,600,000. ......,. 25s, 900 90
Liabilities to LIST January, 1854 $609, 099 So
The means to meet which the
Commissioners have cash on
hand. ........... S43I 800 y
Tax collectable in
May and June, 1853 coo, 900 00-l ,OS7, 800 %
Balance in hands of Commits
missioners on LIST January, 1854, S47S, go 66
Add tax due May and June, 1864, $50 600 90
Available means for 1854 -. 81 ,l2s, 200 66
Amount due in 1854, as per
statement A.. $l43,7S4 Is
Interest on So $780,
600, from Jan'y
LIST to July list,
1904. S2DS, UUU
Interest on SO ,456 900,
from July, 1854, to
January, 1855. -. 253, $50
Liabilities for 1854 655 464 Ia - S65k 161 -