New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-12-03

| Now how much of this debt has been
made by this administration Let us take
| up the items:
| One-The consolidated loan has been re-
! duced 1904 200. This is credit.
Items two, three and four stand as they
| were.
Fye-The city has retired since April 4,
1917, $43,3oO ten per cent bonds. A credit.
Six stands the same, and seven is tor
floating debt solely, all existing April 4,
1870
Eight is Fink debt and nine McDonosh
all existing then, but not placed by our pre-
decessors on the debt statement.
! Ten is Jefferson City: of course, old debt
Eleven is the wharf debt. We issued
| S720O00 and have redeemed $4,000, leav-
ing S66O. 0OO out, for which we have the new
| wharves.
| Twelve-These were all absorbed, as fol-
| lows: Old seven thirties and Bank Of New
| Orleans certificates (all old floating debit,
| $oo6, 900, and schools 100000, which latter
was not budget account. The bonds were
given on account of the failure of the
| school tax.
Thirteen-Street improvement bonds,
$4,000 for st. Charles avenue, paving
Dryadcs street and opening streets in the
Third District. This is "a debt Of this adj
ministraton.
Fourteen-Is Sickles' legacy, another
old debt placed by us on the statement.
Fitteen-ls the tveeighths over col
lected. 1t all went into metropolitan war
rants, but | shall allow for them elsewhere
put 1t down, therefore, as one OF the debts
incurred.
Sixteen-We owe this to the Bank of
New Orleans. l: is the result of the past
due coupons OF previous administrations.
paid out OF our current revenues, and, there
fore. reprents old debts.
Seventeen-These were given mostly
for blue warrants and Mr.. Roselius' drainage
Judgments, all old claims.
Elghteen-Ihls was money used to re
pair city deficit, and must be charged as
debt incurred but reduced by So 900, which
we are paying out Of current revenues.
Balance 100000.
Nineteen-This is really debt not in
CURED by this administration. 1t i. sup
posed by fiction of law to be received in
the two per cent collected. though it is not
SO received. We can not, however, stand a
law suit on such question.
Twenty-This l charge 20 the admins
tration, though it is an overcharge, but it
is better to be on the safe side.
Twenty -One-If issued is divided as fol
lows: 100000 are reserved. by agreement
to await the decision of the Coleman claims
and other registered bills of the floating
debt of 1869 and 1870 in the Supreme Court
1, therefore, charge SSo4,lUV TO ueDt incurred
by the Administrators. But against this
will stand to their credit, as near as can !
possibly be ascertained up to the end of the |
year. the metropolitan warrants and appro- |
priation certificates redeemed by the city,
over and above the taxes collected for their |
account, making credit Of 1888, 600. The
deficit of tve-eights of one per cent out |
Of the taxes collected did not prevent these
warrants from being receivable They thus
intercepted the taxes received for budget |
account or ordinary city expenses. Out OF
one and three-Guarters received for city,
only the interest money in a large number
OF cases could be got in cash: the balance
lad to be taken in Metropolitan warrants.
he assessments OF the past Metropolitan
year. including the thirty per cent reassess-
nent, We're over a million. About $4,000
was the regular annual assessment. but |
think they economical 1000 ON that The
balance mad TO be taken up by the city For
Metropolitan account only S215,000 have
,een collected; SO the city had to lose
Number twenty two is the last. 1t is an
I'D debt of the city for which the Boards of
Drainage Commissioners obtained judg-
nent. and it has now to be recognized in
avor of the Mississippi and Mexican Gulf
ANAL Company for work
Now let ia sum IN.