New Orleans Republican., 1868-12-17
the Beard Of Aldermen, were unanimously
adopted on their several readings: 3t

:.
the Beard Of Aldermen, we're unanimously
adopted on their several readings: 1t
Resoloed, That the Surveyor be and he is
hereby authorized and instructed TO cause
the necessary repairs to be made to engine
house No, provided the cost thereof does
not exceed $500
Resolred. That the City Surveyor be and
he is hereby authorized to construct, or
cause to be constructed, flag crossings at
the corner of Poydras and Delta, Gravier
and Delta, and Lafayette and Delta streets:
Provided, The cost OF said work does aot
exceed FIVE hundred dollars (S5O0); also, 8
tagged crossing on Tchoupitoulas street, at
st. Mary's Market, provided it do not cost
over $50.
WHEREAS, In view of the damages caused
to the flooring of the whsrves by vehicles
OF all descriptions being driven upon the
woodwork thereof; therefore, be it
ResolUed That article No. 1926 of Leovy's
Digest, which has been repealed by ordl-
nance No. ST. new series, be and is hereby
revived in full force and effect, and binding
upon all parties contravening the same, or
infringing, as expressed in said ordinance.
Resotued further, All ordinances or parts
of ordinances or resolutions or parts OF reso-
lutions in conflict with the above be and the
same are hereby repealed.
Resolced, That the Surveyor be and he is
hereby authorized to place or cause 70 oe
placed six gas lamps in the new extension OF
the Ninth Street Market.
The following report was submitted by
the Finance Committee:
...... FINANCE COMMITTEE ROOM,
No. q, City Hail, I
| New Orleans, December -. 1s6s.
! To the Honorable the President and Members Of
the Board of Assistant Aldermen;
GENrLEMEN-Your committee beg leave
| to report as follows:
On the resolution authorizing the sale OF
| the contract for the collection OF licenses on
| all itinerant merchants, favorably.
| On the resolution providing that the city
shall not plead prescription in the case of !,
M. WEYMOUTH, relative to his claim of $500
to test the same before the courts, Ia
| vorably.
| Concerning the licenses for the year 1859,
| your committee had hoped to report an or
| dinance making very considerable reduc-
tions on all licenses, believing, as we do,
| that the tax by license Is unequal and op-
| pressive and calculated to retard the mate
rial progress of the citys interest, but
under the present embarrassed condition of
the city treasury we have prepared an ordi'
nance with but small reductions in some
cases and increase in o few others, believing
that any radical reduction would not meet
the sanction of both Boards of the Common
Council. We also recommend, in view OF
the fact that as in our opinion the licenses
are not fully collected in any year, and II
collected by individuals directly interested
a much larger sum could be realized to the
city, that the collection of licenses be
farmed out for the year 1869, we offer reso'
lutions accordingly.
On the subject of city money your com.
| a
tion. They have met with daily and hourly
embarrassments in the settlement and IL
quotation of the citys Indebtedness, owing
to the depreciation of the city money.
Claims based upon losses made by con
tractors and others of the creditors have
been pouring in upon the committee, and
we must admit that nearly all of these pos
sess merit iu equity. Boundless litigation
has arisen, and Is daily growing out, of the
difference existing in the value between
city money and United States currency,
and it is evident to US that If the city con
tlnues to receive her issue at PAR with
United States currency and to pay it out n
forty to fifty per cent discount, (by the diff
ference charged for contracts and for bills
of merchandise purchased), that an unne-
cessary loss is sustained, equal to, If moi
beyond, half million dollars per annum.
We see no remedy for the embarrassed
condition OF the clty's finances, except II
! the refusal to receive city money in pay
l i ment of licenses taxes or other dues to the
f, city, and it is with the greatest reluctance
that we recommend this course for the actor
; of the Council. The issue of the city money
was made by the city in good faith and &C
cepted by the people in good faith, we ad
init and has become debt that should b.
acknowledged and eventually paid, not re.
pndiated. but as the illegality OF the ISSUE
Is beyond any question and the enforcement
of redemption would not be sustained BY
the courts, we deem it only proper for TIL
city to take advantage of the position auC
postpone the redemption OF her issue II
some period when she could make more ad
vantageous terms.
The credit of the city is very low, but
she continue to receive city money 1t vii
: go still lower. The city owes nearly $500, 90
past due interest coupons on consolidate
! and railroad debt, aud S63, 900 past du
bonds of Second Municipality. This fac
operates against the city credit, and 1t wi
be almost beyond redemption ii she fails I
! meet the interest on her late loan.
Where, then, is she to get money to pa
the $50, 600 interest due on the million loa
on first of April next, and $500. 600, princi
pal and interest, on first October next?
: Sincerely wishing to contribute as muc
y ! as it lies in their power toward the solutIo
i of these embarrassing questions, your com
mittee offer with this report resolutio
embodying their views on this suhiec
which they submit to your consideration.
Respectfully submitted.
j TIL. F. FISHER,
I -.-...- Chairman;