New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1855-09-27
THE CTTY-sALR or BONDS.

~ u e u
For some weeks an advertisement has appesr
ed in our columns from the Commissioners q
the Consolidated Debt, advertising for purchase
by the highest bidder. series Of four hundre
and fifty bonds Of one thousand dollars each
payable thirty seven years from the LIST of doto
her, 1855-the principal at the Treasurer's Of
fee in New Orleans and the interest coupon
semi annually in New York-bearinr intores
at the rate of six per cent. per annum. Tn
i Commissioners expressly reserve to tbensolye
the right Of rejecting any or all Of the bid
| which may be oftereds Bids will be reoeiveh u,
to the second Monday in October, until l.
fo'elock NJ, and no longer. Terms Of payment
cash or in any of the obligations Of tina OLE
city, the late municipalities, or the late city
Lafayette, maturing in 1868. ~
I Here is afne chance for capitalists to make il.
yestments, Better bonds than these win be
were never thrown upon any market The "a.
curity they offer is unexceptionable. Nothing
but an earthquake, Or come other immedic abls
calamity, can prevent them from being prompt.
| " paid OF maturity, and tbs Interest punctu.
ally met. OF this no well-informedl mainland
| capitalists are proverbially we'll Informed
entertain shadow of doubt. III
| The present mnch maligned Common Council
especially the Board of Assistant Aldermen
deserves great deal Of credit for their judicious
oudeayors to re.establish and place the credit
Of the city on firm and enduring basis. They
wentto work IN the right direction -commenced
Topping of expenses and stopping leaks at the
beginning. Our readers will, no doubt. be
surprised to learn that by the practice of rigid
economy in every department, OF. the publib SER
vice, they have succeeded in reducing thu ex-
penses Of the corporation some $500 900. Here
| is an item Of reform true, practical, tangi-
bic reform which, if persisted in, will set
things all right in brief period. Much in.
justice has been done the Common Council by
uninformed or designing persons, who mako ii
rule to grumble or misrepresent, no matter how
gross the injustice or how great the expense to
the cause Of, truth and the best interests of the
city, while the business community, property
holders, etc., have been so much engrossed in
their own affairs that they have not taken the
time to Investigate sufficiently to enable them
to do the Council sheer and simple Justice,
The sale of the uharves was q measure of
sound policy which ought to reflect much credit
upon the Council. By their sale the CITY will
receive arevenue of about, s175 900 per annum
from what used to be an expense, instead of
source Of profit. The sale was an admirable
movement and it Was effected in the yerY nick
of time, for the proceeds of the notes given viii
enable the city to iquidate its floating debt
forthwith. This will be cause for congratula-
tion;a fthe same prudence and wisdom that
have governed the past six months control in
future, the disagreeable Incidents, improbable
to all parties concerned, consequent upon an
empty treasury, will never occur again.
In passing, it is we'll enough to refer to the
causeless annoyance and expense which several
of the employees Of the corporation have seemed
delighted to put the city to- We alludp to the
recent suits, and the manner inwhich seizures
were made These parties had Alright to their
pay. That proposition is perfectly clear they
had right to sue and seize; but several of
them went about it in manner as though that
was not al they wanted. They eyinced dis
position to give as much trouble ss possible,
which certainly was, to ssy the least, very
wrong For instance, on Saturday lsst. dur
ing the absence Of Gen. Lewis, the closk in the
.a.'a-' eAs.i. and haasptisnl p5frss6
ana removed, although responsible parties
offered to take the office of keeper and 10 liable
for its forthcoming, which was .refussdl The
clock is worth from $l GOO to 81 200. and the
mere process Of removal, it is feared, will injure
it more then the amount of the Judgment for
which ii was seized 'ts
Comment is unnecessary.