New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1867-06-26

OF assistant aldermen the following message,
which will be likely to create something of
a sensation in the money market of this city:
STATE OF LOUISIANA,
MAYORAI.TY OF New ORLEANS
CITY HALL, June 25. 1867. y
To the Honorable Board OF Assistant Aldermen:
GENTLEMEN-It has just come to my
knowledge from an official report made to
me by Mr.. Joseph Hernandez, city treasurer,
that there has been issued by him and the
city controller, Mr.. P. G. NOLAN, since the
18th of August, lSGG, one million two hun
dred aud thirty thousand seven hundred
and seventy.two dollars of city money, with
out any authority whatever.
In answer to my inquiries, Mr.. Herman
dez states that this large amount Of money
was put into circulation "by virtue Of resO.
lutions of joint committees Of the common
council, aud which action was duly APP
proved by said common council under date
of November lG, 1866, resolution No. 309.f
This resolution reads as follows:
Resolred That the common council does
hereby approve and sanction the course
pursued and action taken by the joint COM
| mittces of both boards during the adjourn
| ment of the common council, from the Goth
of July to the I'd of October, 1866, as per
report of said committee, presented and
| adopted this day.
An examination of said report shows
that said joint committees made no men
ton therein of having authorized the issue
of any city notes, and it therefore follows
that the treasurer and controller have
greatly exceeded their powers, and issued
| obligations of the city without warrant by
| law.
With this exceedingly large volume of
! paper money thrown upon the market, in
addition to that already issued by the city,
| it is not hard to account for the great depre
citation which has taken place in the value
| of city paper, and cannot help shaking the
| confidence of the public in it. If it was
sanctioned officially or otherwise by the
joint committees, they, too, far exceeded
| their powers and must be viewed as equally
culpable with the officers already named
and look to the council to make an imme
diate examination of this matter, and t.
take speedy measures for the Impeachment
and removal of the parties guilty of perpe
trating this fraud upon the corporation ant
the community
For the further and full protection of thu
treasury of the city it is also necessary tina
all officers of the city should be instructed
not to receive any of the money in question
in payment of sums due the city. The SAINT
having been issued without authority ant
by irresponsible persons, is of no value il
law and the city can never legally be mad
liable for it. No authority having ever beel
vested in the present treasurer and control
Ter to issue any new notes of this city, thei
illegal notes can be readily distinguishe'
by the signatures Of themselves or thei
deputies.
1t is to my personal knowledge that, be
sides the large amount Of nearly Il millio
and quarter Of dollars already illegal
: issued, the treasurer and controller are q
/ the present time engaged in making NOR
1 of this money; and even now we have notl
/ ing to guide us as to the amount actual
put into circulation except the statement
5 of the treasurer himself; and it is also me-
essary that you should take immediat
> steps to stop any further issue of new cit
S notes.
l regret that from these illegal procee
: ings the citizens of New Orleans will sutf,
/, greatly; but it is of the utmost importanC
If that the people should be apprised of IL
u illegal doings of its officers, and that Il
promptest action should be taken by you
i protect the good faith and credit of Il
| cOrDOratiOn Nprv rasDectfully
L. HEATH, Mayor.