The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1869-03-11

The following correspondence In relation
to the financial affairs of the city will be read
with interest by the public
SOUTHERN BANK,
New Orleans, March sth, 1869.
Hon ,. Conway Mayor, New Orleans;
Ny Dear Sir-According TO your polite request,
| hand herewith an extract from letter sd.
dressed to me by c. Ferdinand Rodewald, Esq, Of
England.
And thinking perusal Of the same would inter.
est you also hand herewith q copy of letter
addressed by our fellow. citizen Christian Rose.
lius, ESQ.,, to John Q. Jones, ESQ.,, president Of
the Chemical National Bank, Of New York.
Having greatly at heart the restoration OF the
high credit to which city is justly entitled,
/ would respectfully state that if my humble co.
operation with you, lin your elevated, arduous and
responsible position,) in bringing about so de-
siIahle contamination, can be of any service. it
will be cheerfully at your disposal, TO the extent
of my ability.
With the promising aspect that Is dawning upon
Us, and by faithful observance of the law jest
enacted in relation TO our municipal finances,
have no doubt but that our mayor and the men,
bers Of the Common CouncilSwill manifest gen.
erous devotion to the public interest and thus soon
bring about splendid financial credit for New
Orleans. promoting thereby the prosperity aud
happiness of our people, and securing for 1869
bright page in the municipal history of this city.
have the honor to be, my dear sir,
With the greatest respect,
Your obedient servant,
THOS. LAYTON.
Extract of letter from Mr. ROdewad of England
QUEEN INSURANCE BUILDINGs,)
IL Dale street,
Liverpool, January l6, 1862
fhos Layton Esq., president Southern Bank New Orleans:
Dear Shallow me to repeat my congratuls-
tons on your bank being appointed fiscal agent
of the cityEof New Orleans, but while it may be
extremely gratifying TO yourself, your esteemed
board and the shareholders, 1t seems to me
matter of still greater coDgrstulaon to the public.
that in the administration of their financial affairs,
they will now enjoy the benefit of sound and dis;
interested counsel and assistance, and the prompt
action you have taken In removing at once an
ugly stigma on the public good faith, by providing
for the immediate payment of the overdue and
present coupons of the consolidated bonds, can
not fail to exercise most sanitary influence on
the public conscience, which influence will proba-
bly, extend and work good results throughout the
whole Southern country.
[Copy of letter from Christian Roselus, Esq,
of New Orleans, to John Q. Jones, ESQ.,. president
of the Chemical National Bank, New York.
New ORLEANS, March 5th, 1869.
John Jones. ESQ., President Chemical National Bank,
Dear Sir-0ur mutual friend, Mr.. Layton has
suggested to me that it would be agreeable TO you
to have my views in relation to the system devised
by MIR. L. for the restoration of the credit of the
city of New Orleans, which has been sanctioned
by law Of the Legislature and approved by the
governor. As copy of this law has been trans
mitted to you, need not say anything of its pecu-
liar features its main object is to introduce order
into the finances of the city, to ascertain its entire
Indebtedness at once. TO fund the whole floating
debt to prevent the further increase, and provide
for the gradual diminution and extinction of the
debt. / think that you will agree with me that if
this law be faithfully executed, the credit of the
city will soon be revived, and with it the general
prosperity of the city and State.
The disturbing element resulting from the con.
fusion of the financial condition of the metropolis
being removed, there can be no reasonable doubt
that, with the valuable crops yielded by our soil.
and the immense natural advantages of New Or
leans, there is q fair prospect that we have q
promising future before u.s. But all these advan.
tages and resources can only be properly devel-
oped by the energy and industry, economy and
honesty Of our people; and l am convinced that
the dreadful ordeal through which we have
passed, has taught Us salutary lesson by which
we cannot fail to profit.
Excuse the liberty have taken in addressing
you on this subject.
Yours, very respectfully.
(signed) G. RosELIUs.