New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-03-13

LIQUIDATION Fund.- and to be employed un-
der the direction of the board of liquidation
solely and exclusively for the payment and
redemption of the floating debt Of the State,
past due interest coupons and past que
State bonds; provided, that this act shaii
apply only to debts contracted and adjusted
in due and legal form prior to April |. 1870.
SEC. 3. Be it further enacted, etc., a II,
at the expiration of thirty days from, and
after the passage of this act, the said Board
of Liquidation shall not have sold the said
bonds, in accordance with the provisions OF
the second section of this act, then and in
that case they are hereby authorized and
empowered to exchange the aforesaid bonds
at the rate of one hundred dollars in bonds
for each and every seventy-tWo dollars OF
all outstanding evidences of Indebtedness
against the State of Louisiana, which may
have been issued in accordance WITH Jaw
prior to the passage Of this act.
SEC. 4. Be it further enacted, ETC., mat
the Auditor of Public Accounts shall, once
in each year, estimate the amount.ot the
annual interest on all the bonds issued I'M
der the provisions of this act, together with
a sum equal to one-fOrtieth part OF the
bonds issued, and calculate as nearly as
practicable what rate OF tax on the toCal
assessed real and personal property OF the
State will be required to produce the sums
aforesaid: and he shall add the said rate to
the rate of tax already assessed for general
purposes; and the tax so calculated and as.
sessed shall be collected in currency and
paid into the Treasury of the State at the
same time and in the same manner as other
general State taxes are required to be COL
lected and paid, and the money SO collect
ed shall be credited ON the books of the
Auditor and Treasurer to a special
fund, to be known and designated
as the "Floating Debt Bonds Fund.-"
and the amount SO credited from year to
year is hereby annually appropriated Tor
the payment of the interest and part of the
principal of the bonds authorized by this
act.
SEC. 5. Be it further enacted, ETC., That
the aforesaid President of the Citizens
Bank, upon becoming Fiscal Agent of the
State for the purposes of this act, shall exc
cute such bond IS the Governor may re-
Quire, before entering upon the discharge OF
his duties, conditioned tor the faithful per
Torrance of the same.
SEC. 6. Be it further enacted, etc, That
the sum Of three thousand dollars, or 80
much thereof as may be necessary, be and
is hereby appropriated to pay the expenses
of printing or engraving the above described
State bonds, which shall be payable on tie
warrant of the Governor, and that this act
shall take effect from and after its passage,
House bill No. 1872, an act relative to the
charter of the city Of New Orleans, was
taken up.
Mr.. McVean, of Caddo, moved to dis
pense with the reading of the amendments
of the Senate to the bill, and that the
House refuse to concur in the amend
ments, and that a committee of conference
be appointed.
Carried.
The Chair appointed as the committee
on conference Messrs. McVean, of Caddo,
Isabelle, Of Orleans, aud Degrange, OF
Orleans.
Senate bill No. 2O4, an act relative to
the State Land Office, was taken up.
Bill read a first time by title, constitu'
tional rule suspended and bill read g sec
ond time by title, and referred to the
Committee on Public Lands and Leyees
and ordered to be printed.
Senate joint resolution No. So, "An &C
5 authorizing the Governor, State Treasurer
and Fiscal Agent to negotiate the sale o.
bonds" ETC., was taken up, and the bill
/ read a first time by title, and ordered t.
be printed and placed On the calendar iol
its second reading.
MESSAGE ROM Il GOVERNOR.
STATE OF LOUISIANA.
Executive Department.
; New Orleans, March IL, 1870
To the Honorable Speaker and Members OF tn
3 House OF Representatives:
| return to the House Of Representatives
: without my signature, an act entitled Al
act to compensate E. Fl. Angamar and Charlie
lizard for thsir services and expenses as
3 special Levee Commissioners OF tle State"
: for the following reasons:
D The. appointments were made wlthou;
authority of law, and the commissioners ap
= pointed accomplished no good for the State
Had their mission been successful, the.
, might possibly nave derived their compen-
f sation out of the negotiation OF the bond
= for which they sought the endorsement o.
! Congress-. The levee fund is derived from
q tax assessed in accordance with the aot
I: authorizing the issue of four millions o
S levee bonds, and is pledged by that act t.
t the bondholders as a fund to pay the inter
e est as it accrues and the prlnclpai when /
+ becomes due, and can not be diverted with
g out a breach of faith on the part of tn
' State.
Q Finally, if the appointment had been i
accordance with law, and actual services ha
v been rendered, the amount OF the approprlt
ton is, in my opinion. excessive.
e (Signed5 H. C. WARMOTH,
Governor of Louisiana.
Mr.. Gair, of East Feliciana, moved t
4 postpone the consideration Of the messag
until tomorrow at two o'clock P. NJ.
Mr.. McNIillen, of Carroll, moved to la
the motion on the table.
Upon which the yeas and nays were d
manded by Messrs. Gair, of East Felicians
l. and Lott, of Rapides, with the followin
result:
Yeas: Belot, Bergeron, Briout, Degrangt
Demarest, Eager, Haskell, Hanlon, Lowell
L'Hoste, Landers, McCullen, McMiller
-, Morey, May, Noble, Pearce, Page. Prescott
10 Reese, Wren, Waters, Witt, Yorke-24.
Nays: Abbott, Antoine, Adolphe, Bucl
ingham, Brewster, Burrel. Collins, Calhoun
~ Cuny, Crawford, Deslonde, Devices, Du
- fresno, Demarest, Dupart. Douglass, Fault
e ner, Guigonet, Gair, Garstkamp, Ora,
: Gaidry, Hill, Harper, Hutchinson. Hal
Isabelle. Leblanc, Leroy, Lott, Mollere, M
hier. McVean, Morey, Mathews, Pierc'
Rev, Rengstorff, Simms, Sterrett, Taylo
% Tournoir, Umphreys. Walsh, Washington
% Wilson, William Williams, Zoelly-47.
Motion to table lost.
Motion to postpone carried by q risin
vote of yeas, 81; nays, 20.
= The Committee on Ways and Means
- through its chairman, submitted the 10
lowing report, which was received an
a accepted:
ROOMS OF COMMITTEE ON WAYS y MFASs,
New Orleans, Marcn IL, 1870,
II the Honorable the Speaker and Members of Il