New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-10-04
WHAT the CrY AUTHORIZATION HAS
DONE,

DONE.
Six months ago new city administra-
ton was appointed by Governor War
moth. The appointees were not chosen
as strict partisans, and though Republi-
cans, were not selected from the very
active, popular, or extreme members Of
the party. While acting with general
fidelity to their party, they have not
formed or conducted strictly partisan
government, but have endeavored to rep
resent the great body of taxpayers. On
the other hand they have satisfied the
moderate elements of all parties, particu-
larly business men and the tax-paying
public:
The time when parties can succeed
upon mere doctrine is past. The merits
Of an administration determine the votes
Of many, enough to turn the scale of
almost any election. If the Republicans
were to run worthless set of men as can
didates, or had put into Office, by appoint
ment, an incompetent or corrupt set of
men, they would deserve to be beaten.
Governor Warmoth placed in the Audi
torship of the State, and into the Mayor
atty and Administratorships men of bust
ness capacity and habits, careful and
prudent in their business affairs, and of
known reputation for integrity. Some of
them, while respecting his capacity and
his vigorous style Of administration, had
often differed with him, and were by no
means his personal adherents.
But Governor Warmoth, setting all
these differences in his party aside, Sc
cured an administration of public affairs
which has done credit to his Judgment,
and won the appreciation Of citizens with
out respect to party.
They found the city treasury without
dollar in its Golfers. Hundreds Of thou
sands of dollars of it's warrants, which,
like checks upon bank, the law forbade
to be issued except against actual cash to
pay them, were hawked about the streets |
Two millions of dollars Of
registered accounts and half a million OF
city notes were in the broker !
shops Five hundred thousand dollars of |
back pay roll accounts, covering eight |
months Of unpaid laborers, teachers and |
,ity employees, were discounted and traded |
about the streets at from fifty to seventy |
i've per cent.
No class Of city employees were in the
habit of receiving their pay. All had to
sell to shavers, or to wait an interminable |
ength of time.
Merchants would sell no supplies, and
contractors would do no work for the city |
except at double price, to indemnify them
or loss Of time and depreciation of city
paper.
Bonds were low, and going lower. They
we're no longer available for the ordinary
purposes of such securities, could not be |
lsed as collaterals, and were held in gen
sral disrepute. The matured coupons
ppm CICA1 "CiC uoV pau. we've
upon such coupons Of 100000.
Nj this has been paid, besides sG57, 221 %
If interest coming due since, making
more than a million dollars Of interest
oaid. They have met S25O.000 of the
principal Of the ten per cent bonds coming
lue first Of October, besides $50, 600 Of
pack ones, which were dishonored by the
'ast administration. They have pur-
;hased and extinguished $50, 900 of the
bonds.
Thus S439, ZOO Of bonded debt has been
in addition to s400, 900 past
lue interest, with the immense amounts
# current interest We have mentioned.
During this time the current expenses Of
he city, including salaries Of all payable
" the city treasury direct, have been met
q cash. Creditors are willing to trust the
ity. Supplies can be had without paying
xtortionate prices. All kinds of bonds,
even-thirties, and fiscal agency certificates
re going up. But for the unparalleled in
uence of the European war upon the
money market, our securities would be
quail to those Of New York, or any other
Northern city, as they soon will be in any