New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-03-15
y coUNcIL--oFFIcIAL
..xDoF OBSERVATION-DISCLOSURES
Regular Meeting.
CITY HALL, NEW ORLEANS
Tuesday, March 10, 1868.

.vips FLOOD, lnezdh, OuhHt 1iei5h', Suh
= sauvinet, and Joubert-I3.
me minutes of the last meeting were
!. motion of Mr.. Sauvinet they were
..aed so as to show that he had voted
~ the resolution offered by Mr.. Davies
...tipp the Mayor to withhold his sigma
rom the resolution authorizing him to
ne contract Of John B. Titus for the
..,rs of the streets of the third ward.
M minutes as corrected were approved.
me following Communication from the
,,or with document accompanying, was
MAYoRALrY OF NEW ORLEANS,
City Hall, 10th Day Of March, 1885,
,hs Honorable the Board Of Assistant Aldermen:
osSrr MEN, herewith transmit for your
ls.-.,ation the resignation OF the Hon. j.
nglesbv as member Of your Board.
E. HEATH, Mayor.
NEW ORLEANS, March le, 1868.
3. Heath, Mayor;
sn-The requirements OF business occupy
|. lime 40 fully / find it impossible to de-
tine necessary attention to public af-
= and beg to tender herewith my resig-
= tidn "a member of the Board of Assistant
sermen. This is the more imperative by
4 isct that my business partner, Il. W.
,hank. ESQ.,, is a member of the upper
''rd' 'p'VJ J. H. 0GLEsBY.
Al motion of Mr.. sauvinet the resignation
Nj. ]. H. Oglesby was accepted.
report of the Treasurer for the week
'aipg March Z, 1868, showing receipts
In5ss SO; expenditures ST2,242 20; bal
Doe on hand Ss5S,s47 6s, was referred to
Finance Committee.
The following communication from the
,,,surer was read and ordered to be spread
he minutes:
TRYAsuRER's OFFICE, CITY HALL,
New Orleans, March 10. 1868.
.,hs Honorable the President and Members of the
Board OF Assistant Aldermen:
GENrLEMEH-The exigencies of the times
smsnd that radical change be made in
IA finances of our city government. The
Evacuation of the city currency has for
= mast few days been so rapid, and the
M SO uncalled for, that to continue in
Bis way is utterly impossible. 1t is useless
discuss the cause of the decline in the
bllpations of the city. No just one can be
bund, but the crisis is upon us, and the
lmedy is with you. The railroads now re-
.se ne notes above the fractional issue;
Ne butchers and small dealers do the same.
q therefore useless to continue the pay
ent of the debts of the city in a currency
appreciated, but the city is compelled to
Ale payments in the currency so reserved.
an well satisfied that in a few years the
slire circulation can be withdrawn with
I'd any extra taxation, but the pressure for
Iief Is SO great that action Is at once de-
Ended, and / trust you will adopt means
take up the entire circulation:
therefore propose that with the ap-
uyal of the commanding general, bonds
sums of from fifty to one thousand dol
Is payable 10 $40. 5-ls, or $40 years be
Huea, drawing $40 per cent per
hnum interest. The interest paya.
semi-annually, viz: January and
hly of each year. The first
11pon for three months commencing first
.Ipril next. If necessary let the net reve
les Of the markets be pledged for the pay
amt Of the interest, and stipulate in the
fdinance that bonds will be taken up on
he frstof March of each year, commencing
1869, out Of any surplus in the treasury. :.
Z This plan will necessarily require al
hyments of dues to the city In legal tender
national bank notes; the same currency
'ceived to be paid out, the arrangement
take effect on the fifteenth instant, or al
zee IL required.
!, Out of the taxes of 1867, payable this year
10 be paid in legal tender notes. The
oupons Of the consolidated and railroad
0nds of the former in accordance with Law
Z hundred and fifty thousand dollars will
ave to be raised. Of the latter two hund
IA and twenty thousand dollars will be re
buried. In July last there was to the credi
h the consolidated fund over four hundred
housand dollars, but the entire anioun
slng in twenty dollar notes, the most of thu
oupons remained unpaid. This caused |
Expectation Of the bonds. From January
this date large amounts have been paid
nd with the exception Of coupons held b,
Ne city for account OF the trust iunds, thirtI
housand dollars will pay all present dul
coupons, and carry the fiscal agency through
nlil May. The importance of the paymen
fthese coupons in United States currency
nd at maturity, is oneIof the greatest induce
ents TO the funding of the entire circula
1p before the commencement Of the re
pts for taxes now nearly ready for pay
mt
Many suppose that by the Withdrawal
lom circulation of the city's small issue
peat endorsements would exist in the
ny Of small change. As matter Of cours'
hiding the debt prevents the money going
or out of the treasury, but II does not pre-
snt me circulation for ordinary business
Exposes. For the past year scarcely dol
yin small notes has found its way into thu
sasury. when it was well known larg'
mount had been issued.
ne circulation Of city notes is much les
lin reported last November, and this IL
ne Of large payments on the old floating
H OF the city besides the ordinary pay
ainls required, and large decrease In thu
action Of licenses compared. with thu
llllous year. The amounts received dur
& the months Of January and February
1m licenses for 1867 were S765, 767 81 +; fol
y 1874. 702 Is.
he outstanding taxes on the first OF De
nber last for the years 1861, 1862, 1868
*, and 1865 we're as follows /: on real estati
l59, $50 30, on personal property $5l7 600 "a
Ne real estate can be collected for at leas
Ae face OF the debt, but / question Y TWEEN
Ave per cent on the personal can be col
cled.
An impression exists that the take
hove named were suspended by act Of tn
lslature until 1870. The state and parish
les were postponed until the time named
lt ] am unable 70 find any law relative t6
4 postponement Of municipal taxes
ID ordinance lis, approved june 26, 1866
lpones the collection. This can be re
alfd BIZ the Council at any time.
thinkAa bureau for the collection Of al
back taxes ought 10 be established
Asge are probably ten thousand suits Il
courts ofthe justices of the peace, and
aTe 10 recollection OF a dollar paid int
treasury since have been In office; AMI
transfers Of property are daily made
be city has paid the fees and costs in al
cases, and an effort should be made I
rd out what they are worth
Respectfully yours,
8. Howell L, Treasurer.
nc following from the City Attorney wa
"a and the Secretary Of this Board r.
1pssed to furnish copy to the sewers
ekp Of courts.