New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-10-19
WHOLE NUMBER 4
called and the following members answered

Speaker Lowell, Bennett Belot, Brewster,
Baroee, Burrel. Bergeron, Collins, Curell,
] Ouny Crawford, Devices, Dufresne, DeHza-
rest, Dupart, Eager, Esnard, Faulkner,
GGoigIonet' GogIoD u.S, Gsir, Gray, Hill, Haskell
Blanc, Leroy, L'Hoste, Lott, Norris McCd-
len, MeVean, Murrel, Mansion MOrey, Nc
rand, May, Mathews, Noble, Pearce, Pratt,
Pierce, Prescott, Prejeaa, Raymond, Reese,
Rey, Rengstorf, Slaton, Sterrett, Simms,
Wren, VIM. @. Williams, II. Williams, Wilt,
lZoelly-62. af
Prayer by Rev. Mr. satchell.
On motion of Mr.. Rey, of Orleans, the
reading of the journal was dispensed with.
The Speaker announced the following
, committee to investigate the action of the
Grand Jury in the case of Eugene McCar-
thy, Fifth Justice of the Peace, Orleans
right bank:
Messrs. Alexander, of Orleans, May, of
Orleans, Matthews, of Tensss.
RESOLUTIONS AND MEMORIALS.
A petition of Eugene Mccarthy, fifth JUS
tice of the Peace of the Parish of Orleans,
Right Bank, praying for the appointment of
, a committee to investigate the charges made
against him, etc.
The petition was referred to the commit.
tee already appointed for that purpose.
A petition signed by the officers of the
Turner Association of New Orleans, praying
for exemption Of taxes on their property,
corner of Lafayette and Dryades, to be
built for educational purposes. Referred to
the Committee on Ways and Means.
Mr.. Faulkner, of Caldwell, introduced the
= following resolution, which was adopted,
the rules being suspended:
RESOLVED, That the Committee on Public
Lands and Levees, through their Chairman,
be requested to report to the House imme-
a diately on House bill No. 2S2.
5 Mr.. Lott, of Rapides, offered the follow
e ing resolution, which was adopted, the rules
being suspended;
Be itresolved by the House Of Representa-
tives, That Michael Casey, contestant of
e the seat of Hon. ]. N. Judice as Representa-
It tiges Of the parish of Lafayette, be allowed
:, mileage and per diem as allowed members
Il of the General Assembly to the day his case
= was decided.
= Messrs. Pratt and Wilt called for the yeas
e and nays on the adoption of the above reso-
: luton, allowing per diem and mileage to
= Michael Casey, resulting as follows:
n Yeas; Alexander, Belot Burrel, Collins,
Cuny, Crawford, Devices, DHtresne, Evans,
n Faulkner, Guigonet, Gray, Hill, Holland,
~ Hall, Heidenhain Isabelle, Leroy, Lott, v.
NJ. Lange, Morris, McVean Murrell Mansion,
If Morand Mathews, Pearoe, Prejean, Ray
mond, Reese, Rey Sterrett, Simms, Taylor,
Umphreys, Wren, William G. Williams, IL.
Wllliams-3S.
,e Nays Bennett Buckingham, Brewster,
n Barbee, Bergeron, Curell, Demarest, Du-
n part, Eager, Haskell, Hanlon, Harper,
- L'Hoste, McCullen, May, Pratt Pierce. Reng-
storf, slaton, Waters, Wiltz, zoelly-22.
il Mr.. Faulkner, of Caldwell, moved to re.
consider the vote just taken.
4 Mr.. Gray of ST. James, moved to lay tho
ID motion to reconsider on the table.
Carried.
Mr.. McYean, of Caddo, offered the follow
lg ing resolution, which lies over under the
$ rules:
1s WHEREAS The Committee on Internal I'm.
provements and Corporations to whom was
referred a resolution over two months
since, directing said committee to INQUIRE
10 and investigate all the facts connected with
ct the granting OF the lease by the State. tgl
III Richard Taylor, or Others of the New Canal
= Basin, aud appurtenances, the manner IN
AZ which the attairs Of said Canal have been
I'd and are now managed, by whom and under
s. what contracts or lease, and how the &C.
, counts stand between said Canal and the
Il State, ETC.; and the said committee up to
this time having failed to make any report,
therefore be it
Res0lUed, That their said committee be
and are hereby directed to report to the
House the results of the Investigation next
Monday the nineteenth instant.
On motion of Mr.. Holland, of Tensas. ten
IS days. leave of absence was granted to Mr..
y Hutchinson, Of st. Tammany.
MESSAGE FROM THE GOVERNOR.
The following message was received and
e read:
f To the Honorable Speaker and Members of tho
~ House OF Representatives,:
T 1 return to House of Representatives an
S act entitled AN act to authorize and require
the Mayor and Common Council of the city
of New Orleans to issue bonds for the re-
dempton of city notes, and for the liquida.
6 tion Of other indebtedness without ny
); signature, for the following reasons:
|, My first objection to the bill is that the
> city may be forced to sacrifice one million
L dollars in six per cent gold interest bearing
!, bonds, in order to redeem the city money,
which is not now in circulation, but held by
2 spectators. There is no reason why these
bonds should be disposed of at less than
par, thus saving the city one million
dollars, which added to the half of one
per cent given tc the financial agent for his
G services, would be total saving to the city
of one million twenty-five thousand dollars.
Secondly-The city of New Orleans can
not afford TO pay interest in gold This bill
provides for the payment of three hundred
o thousand dollars in gold annually. The
city has no gold revenue and must rely
upon purchase for the gold it obtains to
e meet the interest on these bonds. Gold is
I selling at 8 lower rate to-day than it has for
Y months past and 1t may be twenty per cent
higher two months hence. There is no GER
tainty as to price of coin. so that the
city may be able to buy at l33 to-day and thus
i pay four hundred and fourteen thousand
q dollars for interest in currency, the present
equivalent of three hundred thousand dol
lars in gold; but next year specie may be
e twenty per cent higher and the city com
: | PEELED to exhaust the six hundred thousand
g dollars of taxes in order to meet the an
= nusl interest leaving no fund with
: which to redeem the bonds twenty wears
hence. The bonds should bear interest in
the currency of the country, then the prop
= erty of the city would not be subjected To
4 such enormous taxation, and the city gov
eminent would always know the amount to
set aside with which to meet the interest on
the bonds.
Thirdly-The second section Of the bill
authorizes the Mayor and the financial
ag Mt, in the event the bonds can not be sold
at par, to negotiate loan. It is obiection-
able for the reason that it does not limit the
loan In amount, and does not indicate the
security TO be given by the city nor the length
OF time for which the loan may be effected.
If the financial agent fails to sell the bonds
at not less than eighty cents on the
dollar, what is there in this bill to prevent
him from borrowing two or three millions
of money and pledging the whole issue OF