New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-11-24

lO(Al.. GUU..VVV
These are items Of which it was the object
of the act of consolidation that the admins
tratiOn should start unembarrassed. The
peculiar wording of the charter leaves them
unDrOyided for, and it has been generally
understood that the Legislature would, at
it's first session, authorize the issue Of suffi-
.cient seven per cent bonds to cover them, as
well as few unaudited claims upon the
floating debt, and some rejected ones that
may be placed upon itrby the courts.
The charter also provides for the issue Of
improvement bonds, in order that works Of
such urgency as would not admit OF delay,
and such magnitude as not to be provided
for by current taxation, should be, met by
the issue of bonds, and the payment Of in
terest ut seven and three-tenths per cent.
The issue of 100000 of such bonds for
wharves has been already provided before;
but there remains liability of 800, 900 for
cost of paving St. Charles avenue, to be
met in the same way. Thus $802, 900 Of the
estimate will be disposed Of, leaving still.
however, 81, l64, 848 to provide for.
This deficiency must be met first BY a gen
eral retrenchlnent and econOmizing of the
resources of the city government. The
items Of the estimate have been carefully
-canvassed. They represent, in many in
<st1nees, the absolute necessities of the city
government. In others, the possible require
ments, where these are subject to cOntin-
pcncles beyond our control or prediction.
But in other particulars, however carefully
arrived at, am satisfied there can and must
be reduction. The estimating or setting
aside Of SO much upon the budget does not
mean spending it. The city government
will be limited by its own act from exceed
ing these items: it is kept within them by
law; but it is not thereby implied that it
should exhaust or spend the whole Of any
of these items, ii within its power to spare
or saveany portion.
We have the problem in hand, and these
are the figures which are required for its
consideration. We must retrencl, without
impairing the efficiency of the city govern
ment. The demands of the times and of
commerce require improvements to streets
and wharves, and efficiency and thorough
ness in every department of the public SER
vice. Our credit must be maintained, the
current expenses of the city must be
promptly met, and no public creditor must
be made to wait a day for his interest when
due.
The issue of bonds, except for unprovided-
for floating debt due when the administra-
ton commenced. and for purposes OF I'M
provement strictly contemplated by the
charter, should neither be made nor asked
tor.
1t will, therefore, be necessary to apply
to the Legislature for power to levy a spe-
cldl lax. lnlS seems 10 Dc tllc oHiy PioPOi
alternative to sustain the public credit; for
the issue of further bonds should be
avoided. and at the same time no just claim
Of a public creditor should be postponed.
The assessed real estate of the
city Of New Orleans amounts
to-. .$ll5,S78773
Personal property. 23,095,l72
Total. .sl3s, s73,ef5
Ap average failure or postpone
lnert Of collection on ten per
an,lst always be counted on. 1885,. 1874
Leaving reliable computation
on only. .Sl25, 076,551
If the deficiency of 81, 1874 ,s4S can not be
materially reduced; or if new and unfor-
seen causes shall add to the expenditures
and necessities of the city government, it
will require special tax Of one per cent for
the occasion, to sustain the public credit,
and the truth may rs well be told at once.
Such contingencies look us in the face;
heavy lawsuits are pending and the emer-
gencies of protection from overflow, and of
epidemic, may be looked for any year to
900 uncalculated liabilities.
Wnaso thus presenting, as believe it is
nay place. to do, truthful and not over
sanguine statement Of affairs as they bear