The Louisianian. [volume] (New Orleans, La.) 1870-1871, 1871-02-09

the Auditor and Treasurer. You viii
therein find o complete statement Of the
financial condition of the State. I can
not too seriously urge your careful con-
sideration of the matters discussed and
the information furnished by these Off
| GERS.
| Our State is not well Of, but it is far
from being bankrupt. We are burden
ed with heavy debt, but we have inn
mense resources. Our recuperative
powers are perhaps greater than those of
any other section of the country but
small fraction of our rich products
sugar, rice and cotton-is used in home
consumption. The saving wealth
Of the State-increases with wonderful
rapidity. Therefore, I am hopeful for the
future, and look forward to day, not far
distant, when our finances shall have at
tanned most prosperous condition.
Several wise financial measures were
adopted by the last Legislature, and have
conduced to more healthy condition Of
the treasury. Prominent among these I
regard the requisite provision for fund
ing the floating debt Of the State. These
measures, and others, will enable the
State to very soon assume o cash-paying
basis a.t.... .lnr,
earnestly recommend you to exercise
rigid economy in making appropriations
1t must be borne in mind that the con-
stitution now limits the debt of the State
to twenty-five millions. Our present
bonded Indebtedness must now preclude
us from making further appropriations
as subsidy or other assistance to works
of internal Improvement. do not forget
that it is the policy of the State to use
all proper means to assist and protect
every enterprise calculated to increase
facilities for production and transporta-
ton. The railroads, canals and other
public works so fostered will, I doubt
not, inure to the incalculable benefit of
the whole people. Still, think that we
have granted such aid about as far as we
safely can. We must now strive to live
within our income. II we reduce the
taxes to the least amount necessary to
conduct the government upon IN econo-
mical basis, in short time the problem
of the payment of the debt will solve it.
self. With peace and prosperity with
untold agricultural and mineral wealth /;
with system of improvements carefully
fostered by the State, our capital will
soon double, and, without increasing the
tax, the bonds can be rapidly retired
I need not specially call your attention
to the several suggestions made by the
Auditor. I will, however, note few.
First, some changes are needed in the
revenue law. The Auditor has carefully
prepared bill, which accompanies his
report. / commend it to your careful
consideration. One serious defect in the
system, the Auditor states, is that the fis-
cal years. made to run from December
to December. This causes serious COM
phcations in the collection of taxes and
licenses. The date was fixed to enable
the State officers to prepare their annual
reports before the meeting of the Assem-
bly,. To remedy this evil, the Auditor
suggests change in the date Of the con-
yening of the Legislature and that the
current year be the fiscal year. I join in
this recommendation.
| The Auditor calls attention to the large
and increasing amount of unpaid taxes,
exceeding four millions of dollars I join
in urging you to adopt some practical
method to inforce collection at the ex-
pense of the delinquents.
In conclusion, upon the subject of the
finances, recommend, in conformity
with the suggestion of the Auditor, that
you consider the propriety of levying an
equitable tax upon SUGGESTIONS not fall
ing to forced heirs. I also recommend
thu. you consider a law to require in
surance companies doing business in the
State to deposit bonds to secure prompt
payment Of policies. This has been sue
cessfully tested in other States. ! further
recommend you to consider aplan for re-