The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-11-19
NEW ORLEANS FINANCES.

Depreciation of the City Currency-afectina
of Citizens 70 Devise R.snedy-Aapeai 10
General Eancock-Ben Butter wanted Tor
Couple Of Weeirs.
Iron tho New Orleans Crescent. Nov III
About four i've hundsed ciiixrrs assemh'ed iass
evening in Coliseum Hall. on BenTie street 10 con-
munity from the cmbaassments and losses people are
suffering Ia consequences az thu depreciation OF CITY
meeting originated with c,lzsns OF German birth, and
the great majority Of those present Of that race
There was, however, spink,lag of otter European
all of tho intelligent classes and within the extent OF
our observation consisted almost entirely OF persons en-
gased in brsness for themselves. who represented in
small degree the wealth and enterprise or the city, as
| well as It's intelligence.
The assemblaae called to order at o few minutes
after seven by Dir. Robert aogs', upon whoEe motion
Mr. Philip Kramer was called TO tao chair. No score
| tary chosen.
Mr. Kramer ON taking the chair proceeded to explain
tho object fer which the meeting were called The bills
issued by the city he observed. was really worth their
face value the CITY solvent and had sufficient
To meet It's Obligations IN tho course OF time
But tho fact was taat there we're ioir millions ane
half of It's notes In circulation and they were az such
discount as was runous people WHO received them.
He would not who had caused this depreciation,
whether 1t merchants brokers, or the council What
the meeting had to deal with that
deprecated, matter what the cause Mas he had
always been Union man aud Was reploncao pst !.
this the way to DO '.econstructed,' II we
he bv being compelled TO take for
| SIS . bill that would Pass for no more than four
(Crles Of "no,n "ro,n .no') when Mayor Heath, In
his communication to tho old Council, sad million
aud half Of city notes had ueeD issued author
y, those could DO exchanged for grsenbacks at
small discount Of two three per cent His letter ce-
ated an impression that money worthless Down
It went, and il has been gong down ever SINCE although
the reason gwen by General Sheridan for removing
the old Council and appointing the pressat one was
dsnclncd TO remedy tho financial troubles OF the CITY,
Tho city owned fourteen millions and halt Of real estate
sufficient could be sold 10 redeem The money or II
! could be bonded. Wbatsort Of municipal government
could BIO expected with sucn state OF affairs a. We have
| now Did people behave We could get good school
tcachcrs for fifty sixty dollars month. when they
paid in wencs they have to sell for sixteen or sew
faithful and honest policemen at eighty dollars MONTH
paid In such deprecated money that they did not re-
ceive seventy dollars in greenbacks9 Are these public
servants compensated for their laoor. when they
given twenty dollar note and told they eau sell e
70 some brokcr for sixteen or seventeen doarsS his
idea was that when General Hancock arrived commits
tee Of citizens should call upon him and toll him
frankly that when General Sheridan removed tho old
Council aud put in present he did not improve
tho value Of city money that the five dollar note now
worth only four and half was then more valuable
voIcE-lts worse than that Elves are discountn 6
! to- day at fifteen or sixteen per cent
| Mr. KRAMER-Wel, that makes our complaint 80
| much the more reasonable and so much stronger. wo
told we have republican government We have no
such thing In the South a. least For my part ia rather
have absolute despotisn than the sort OF govern.
| ment We arc living under
| SEVERAL VcIcEs--No politics.
Mr. KRAMER--wel, then, let's have no politics. Let
get up resolutions and whom the General arrives
let us go and hand them 10 HIM. am republican In
my heart and don't want to see despotism # we can
|
want 10 sec government Of constitution and laws.
| Mir. MoGsI next addressed tho meeting. During the
whole OF this summer nc observed, while the epaeinc
raging while business prosrated people had 20
their little piles OF money, aud before they could
buy food or medicine had TO go 70 brokers shop ana
suomt shave OF twelve fifteen pcr cent In ex-
changing The twenty -dolar city notes they had laid
by; and while they were thus suffering, members
Of the Council that were to do SO much for
city nnances had their heels cooked up and were
| smoking their fine cigars. This matter should DO
laid before General Hancock the moment he arrived
i " O 10
He who bad proved himself so llustrtous on the battle
field would heed tho just complaints Of our people u
| was not the military ~ho werc 10 blame; II was ths
Council. Mr. Mogci wished to God General Butler wls
here now Tor two weeks was astonishing TO MI NJ
how intelligent people as the people OF New Orleans
bore patiently what they suffering from misgovcrn.
nient In Germany in his country Bavaria tho rise OF
revolution, and in France. despotcsly = y wa,
governed its Emperor had 70 SEQ that the price OF
bread kept that all cass.s could buy u, or hi
throne would to.ter under him. He would not dare u
permit such condition OF currency as the people her
Moss closed ' BY moving the appointment Of com
mitiec Of 1--WE 70 draft resolutions and submit them
The venerable BARsAxD MARsuAr, Who must be full
eighty years Of age spoke after Mr. noee addressina
bis sud:nco 10 French for half 80 c s0
force TO challenge the applause OF theso Of
his hearers Who underwood the language In which he
spoke.
Mr. Mocei's motion for committee 70 dram resolu.
tons being put, when Mr. Davis, OF the clothing
nrn Of Davis Jackson, proposed an amendment that
l
Finance Committee Of the Common Counc 70 sec II
they would not do something to improve tho value q
The amendment was received With boisterous oppo.
sition and It was evident had few supporors Cries
the Council" sDamn The council,n &C. &c.
Mr.. DAVIS suggested that General Hancock would not
be here before the soth Of the month, and no harm
The suggestion was received with Kisses and shouts Of
sWe'll wait for him"
published. Members o. the Council w' see them, and
Il they want Us they can md US tcheerA,
| Mr.. Mogers motion was adopted.
Mr.. srURcKxS, member OF shs Board Of Assistant
| Aldermen Of tho lsto Council next spoke. He MAIN
sn r Se Of Ss city
ample security for tho redemption OF its issues,
whereas tho e'te, lately written 6y Ihsadsu =,
gieenbacks was already arrived at in the
North Mismanagemcnt and trickery had brought city
brokers and the finance committee It useless 70
so 70 that committee Tor relief. They were not dis
al tho City Hall unless he . favoriic there few
could get all they wanted Sir. s. said he saw soma
IL ss ana s coanc hss
passed ordinance providing for the Withdrawal aud
destruction Of milliop OF dollars Of CITY notes that
ordinance had put In force million Of grecnbacks
would now have been in circulation In their place
lad the present Council done nnythngf Cres Of "No
forcing that ordnance Tho nrss man 10 prs down
city notes Mayor Heath, with his proclamation q q,
his message TO the Councl by declaration that tho
tens and iwsntiss issued were NO. legal, statement
that proved TO % untrue Nobody was 70 blame
for These troubles butthe Mayor and his council.
Tho CHAR announced Messrs Conrad Shredder. Robert
| Moge, n. r. sturcken, - Davis tof Davis JACKSON
and Hugo Lehman as the Committee on Resolutions
| The namo of Bernard lisrrry WAS on motion. added
Is cbairman OF the committee but he had left the
the names Of Judge T. wharton Ccliens and George
Mungeiser were added
| M. DAVIS Insisting that the sense Of the mceting
should DO taken hn amendment nstructlng tbs
committee 10 appeal to the council frat, aoisy and dis
| orderly d!scusson followed
Colonel borsox made speech. which was Heard with
attention, deprccang any appeal the Council de-.
grading 10 the committee maintaining the nby Of tho
city 10 pay all is debts, and openly declaring that In
shs matter OF municipal notcs the people were prcyed
upon By set OF politicians SPECTATORS and ecoun
dres IN and out OF the CITY HAIL. In which, he further
sad there twas the biggest brokers' once In the city"
Mr. Srrncgrx was again addressing the nsseblage 70
show how vain would DO TO seek relief from Coun-
Gill; while he speaking. and for time before,
Alderman stapleton had been standing on chair that