New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-09-09

lssue sumcient amount Of bonds to take
" lts Outstanding obligations, and then the |
clty VIII nave sufficient amount of money |
to pay off all Its Indebtedness And IL Il |
will be relief to the employees of the CITY. |
VINO are now in a starving condition. tlaiIlk |
1t will be proper to authorize the Mavor and |
the Common Council to borrow money to |
do so.
Mr., Bacon; The proposition is to strike
out all after the figures 1855, in line eleven, |
section second, and to amend section third !
Mr.. Blackman: propose to strike out the
entire bill except section third, which shall
resd as follows: "That in order to meet the
current expenses of the said corporation
until such time as sufficient sums may be
received from the collection of taxes to meet
the current expenses, that they shall be
permitted to borrow q sufficient sum to meet
such current expenses
Mr.. Campbell: Mr.. President. I have one
or two remarks to make upon this subject,
certainly. agree most heartily with Sena.
tor braughD in his position upon lis bill
at the present time, although not pre-
clsely for the same reasons. Certainly
some courtesy is due to the Senators from
Orleans. think it very strange that Sena.
tors from other parts of this State are not
disposed to pay even that small need Of
courtesy which should lead them to ask
even the opinion of Senators from this city
with regard TO any measures whatever af-
te.cting solely the business interests of the
city, and especially upon such vital ques.
uon as this. | have several very strong OBJ
Jectlons to this bill as 1t stands here. i do
not think there are any Senators upon this
moor who can as well grapple with the diff
enlties, and as well point out the proper and
Just solution of them as the Senators from
this city. Now, sir, there are Senators here
from the different districts of the city
Senators Braughn, Foute. Coupland. and
others-who are well acquainted with the
finances of the city, and have at their com.
mand the wisdom and experience of others
long concerned, intimately acquainted with,
and largely interested in the financial con.
Germs of the city of New Orleans.
This amendment, presented by the Sena,
tor from Claiborne Senator from the
northern part of the State-instructing the
city how to provide for their current ex.
penses, has this objection to my mind. In the
trst place it provides for the most extraYa-
giant and expensive method of raising
money which this city, or any other city,
could take; namely, borrowing it by hand
to mouth obligations, instead Of upon bonds
Wen secured and running at q long time
and low rate of interest. Taxes provided
BY law will enable the city to receive their
loan at small rate of interest. Instead of
this you authorize this city government to
| go upon the money markets OF the CITY with
NAA@ AAoSh AAAAA9f anu N4At N4AdOlG HDENltS Vi
obligations. When you authorize the
| city to borrow money, you should
also empower it to take the steps
necessary to give the necessary
credit to enable them to borrow money
at low rate of interest. If these bonds are
authorized and issued as now proposed, they
will be shaved, sir, until the blood will come.
by the bloodsuckers. and brokers, who de.
light in these things. Now, sir, think that
there is not a city in the United States that
| has so grave a question before II in regard
to It's finances as this city. / think this
measure is one that should be referred to
the Senators from the city that thsy may
confer with men whom they know, and who
are versed in financial matters, and in the
| best methods of meeting the difficulties
under which we find the city laboring, and
| of giving relief to its employees. hope the
Senate will postpone the further considera-
| tion of the bill; and if | can obtain the sup
port of other Senators from the city, l will
move that it be postponed, and referred to a
committee consisting of the entire city dele
| cation. | do not wish to be appointed upon
that committee, because / have no time to
attend to it. / move that it be referred to a
committee of Senators from the city of New
| Orleans.
Mr.. Braughn I second the motion, un-
| derstqnding that Senator Campbell means
| the city delegation.
] III nay NlIs LGnlAeubs L QEslTG 10 MAKE
| an explanation very briefly. / do not pre-
tend 10 know anything particularly about
| city finances. You will recolect that on
! yesterday a memorial was presented to the
| Senate by the Mayor which urged thai
| steps be taken to secure relief to the city
| employees.
This bill that is now under discussion hai
been sent from the hands of the Senate
| some eight or ten days ago, and was re
\ ferred to the Committee on Finances.
have boen frequently applied to, for the las
| four or five days, by the city fathers recon-
mending by all means the passage of thi
act, for the purpose of giving temporary re
lief to the suffering among the city
employees: | have reported It here this
bers, and ask That ii be taken up, ID oTdei
that something may be speedily done tina
will bring, at least, temporary relief II
these suffering employees. Now, personally
know very little about city affairs, bu
having occupied position on the commit
tee in consequence of the absence of the
chairman OF the committee j have had the
matter explained to me by different city
fathers, and it seems to me there is a great
necessity that we should act promptly to
provide some means for relief in this case
And it seems to me that the propositisn Ol
the Senator, from Claiborns, would afford
present relief 1t is, of course, in
tended to be a merely temporary relief
1t is for the purpose of borrow wing money
to pay the current expenses. Now, the biil
before the Senate has reference entirely to
the means of collecting taxes. 1t is a bill
that has reference entirely to the collection
of those taxes. It has been called up three
or four times, and has been postponed sew
eral times on the motion of city members
and is now being here unacted upon
| Every city father have talked with upoI
the subject presses the passage OF the bill
| don'tpretend to say that Senators have
not good reasons for their action upon thil
subject, but the proceedings in reference tC
the collection of those taxes seem to be
checked by that means. Some kind o.
action should be taken to relieve these
people, and this bill seems to afford that
relief. 1t don't require person to be versed
in the city finances, or any other finances
to see that. have no interest in this mat
ter. It is local matter altogether: bui
when see the crisis, and the reports tina
are made to the Legislature, and the mem
orials asking relief, think it is proper thu
Legislature should do Whatever is proper
to afford immediate and temporary relief
II is mere license to the Mayor to borrow
not less than million of dollars to meet
the current expenses.
a Mr.. Bacon: MIR. President, / will say
| that the bin to which the Senator from
0uachita has slluded--the bill for the
collection Of these dues, it is only 8 0iH tor
/ their collection In treasury notes for the
/ future. The City Treasurer informs me
that the dues are coming in fast enough
I nos, There is no trouble about that, but
4 they are paid in in city funds, and the en-
nloyes are unwilling 70 take city money for
W6st il due them on account Of the great
disconnt upon Il. The bill heretofore Intro
SScs,S .loes NOT affect the collection of taxes,
Nj a. sdvertising and what the City At
sor,s-;g ~ q to receive. With reference 70 the
Mi hsgar. us now, / am In favor OF 50 much
of az Il Is pra scrlbes that the back taxes shall