New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-04-04
ISSUE nF CITY CURRENCY.


From the report of the treasurer it ap-
pears that the amount of city currency is
sued by the administration of lSG1-1S62
in excess of that destroyed, was 81 ,492,-
620 25. The amount issued by the mill
tary government of the city, in excess of
that destroyed, was S1,897 SIG. The
amount issued by the Monroe administra-
ton, in excess of that destroyed, was ST.
164, 230. The present city administration
has destroyed SCI ,958 more of the city cur
rency than it has issued; and all its issues
have been made for the sole purpose of
supplying small notes to take the place of
large notes.
On the twenty-sixth Of March there was
81 ,4S64OS % city currency in circulation,
50 $50, $50 IS of which was issued by the
rebel administrations of 1861, 1862, and
1866, and s5SO,OO0 was issued by the mill
tary administration for the payment Of old
bonds on account of the consolidated debt
of previous administrations. Thus it ap-
pears that the rebel municipal administra-
tons are responsible for the issue of 49,
236,s50 % of the whole city currency in
circulation.
The military administration running from
the spring of 1862 to the spring of 1866
issued 81 ,s97, SIG, S5sO,O00 of which was
to pay old bonds. The present city ad-
ministration has reduced the issue in the
amount of $67,95s, and this, too, under
very embarrassing circumstances.
The rapid editorial writer of the Bulletin
who is generally correct, but sometimes
glances at proposition and gets the fig
ures mixed, has made an inexcusable
blunder in stating that the present city
administration has issued 81, 7O2, 772 more
currency than it has destroyed. The writer
was led into the blunder by deducting frsm
the whole amount issued, $1,77O,73O, the
amoaut destroyed in sexcess of the issue,
s67s5s, instead Of stating that the amount
destroyed by the present administration
was 81 ,83s, 6ss, or s67,95s more than the
issue.
On the present city government is de-
velved the responsibility Of paying the
debts ia the form Of currency contracted
by the rebel administrations Of 1861, 1852,
and 1866, and the military administration,
beside providing for the current expend-
itures. II has paid s67 1858 Of this indebt-
edness, and the sale Of the market stalls
will probably absorb the balance Of the
currency debt now outstanding.
There Is one peint to which we especially
request The attention Of the Taxpayers q
this city; that the Monroe administration
inaugurated in 1866 and swept from power
| by General Sheridan in 1867, issued
| sI,164,23O more city money tran il de-
stroyed. We do not know that there wa
The slightest authority for any Of this in.
meRse issue, but we do know that q large
amount Of it was issued BY direction Of ths
finance committee during the recess Of ths
oemmon council ia 1866 without the slight
as shadow Of authority from Tx
esaurl and for the purpose Of pay
Ing re aursent expenses Of he city. w
know hElher that some members Of tht
city ceqaea amone them Alderman Whit
neg, oppoas ae resolution lsgalizing thl
acs Of the lnanes aammlttee in directing
this unlawful issue q tll5 money, and thai
there WIS some deias b lils nsssaee Of thai
resolution.
! The people should hold q lfsnrsa a