New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-10-09
go MnEICTPAL FINANCIAL PROBLEM

trolled the city for years left something 0.
Indebtedness to swell the burden that now
rests as a mortgage upon the property d
the people; and unless some different sys-
tenn is adopted, the rule Of the past will
be the rule of the future, that each year
will find the city deeper in debt than she
was the year before. When the rebellion
seized upon New Orleans we had what was
called the consolidated debt, amounting to
some twelve or thirteen millions of dollars,
that had accumulated from former govern
ments and been funded We shalP leave
the responsibility for this sum to be fixed
by the Democrats, as they pretend to an
inheritance of all the glories Of the corpo-
ration that existed prior to the war.
When the rebellion carried Louisiana
out Of her pathway Of peace and prosper
ity to precipitate her into the troubles
from which she is now struggling to re-
| cover, the Council voted an issue of five
hundred thousand dollars of city notes,
to assist in the work of disaster. This
was the beginning Of all that present in
debtedness which the Democrats of the
McCloskey. calibre declare the Radicals
imposed upon the city. This issue Of
notes by the city was fragrant violation
Of the law but the war Democrats sancti-
fed it in their peculiar way, as they do
other violations of law and the bad exy
ample was seized upon by numDer Of
merchants, who issued their private exc
change notes payable in Confederate
money" General Butler found this
currency afoat, and he ordered it to be
suppressed from circulation, making pro
vision for its payment by issuing city
notes in exchange. The entire amount of
debt thus created may be roundly stated
at thirteen hundred thousand dollars for,
though the merchants who issued the
shinplasters were required to indemnify
the city against loss from the redemption
of their exchange notes, many of them |
managed to avoid their responsibility in
the matter, whereby the entire people
were saddled with their portion of the
loss. This, as we said, was the beginning
and from that day to the present the city
debt has gone on increasing in extent IN
til, from twelve millions, it has swollen
to twenty. And, what is still worse, the
tendency to increase is now as great as
it was when the increase first set in. 1t
seems to be impossible to restrain the ex-
pense list within the receipts. It is sim
gular, but it is so.
After the war the spirit of recklessness
seemed to take hold upon the corporate
Hundreds Of men were put
on the pay rolls for no other reason than
that they demanded to have theig patriot
ism rewarded in that way The officers
were in sympathy with their Smpecunious
md anxious comrades, ana they come
nenced stretching their patronage in the
most unjustifable way. Expenses in.
creased at rapid rate The tax collectors
with the tag wasted payers,
md were light upon them. The receipts
diminished The city paid more and
more, and lost in the same proportion.
his created a debt whose proportions
ave never been estimated We are pay
ag to-day bills that were contracted four
ears ago; and there are unknown ac-
cunts still out.
The present city government entered
pom its duties after its predecessors had
'ell nigh exhausted the credit Of the cor
Grafton, not to speak Of. its cash. It has +
adj to pay an immense debt that was !
by its Democratic prede- r
essOr. It has had to repair a city thor f
lghly wasted. It has had to contend r
it'll judicial expenses that are as curious +
) they are enormous. 1t has, conse- n
1ently, acknowledged an Indebtedness q
hich it did not create, but which it is n
I'D responsible for, that swells the !.
mount the city owes to the sum of twenty +
iIIions of dollars. And it is possible P
at it has done its part toward leaving .,
yearly deficit to be attended to by its y
From this outlook it is apparent that the p
xt city administration Will not be a al
ppy one. If the Democrats succeed
ey will be expected to pay all the debts "
re all the loafers, reduce all the taxes, p1
ali the work, and still have money in er
? treasury. Each property owner will m
mt his assessment reduced and the
,orites will expect the collector to omit II
em in making out his bills The Re
blieans viii have similar troubles, but th
Iii appetites are not so great and their an
ends understand that, instead Of en- Sc
ying more men, the city will have to ST.
charge great many that she now has
are as fully committed to reform and vi
renchment as any other paaty, and we
e better opportunities Of enforcing it. rel
that if the people of the city really de-
a more economical government than no
one they have or than any that any wi
er party can give them, they viii quiet acl
-ote the Republican ticket and let the la
nocrats wait for their pocket money
i the community is better able to
re it.
THE FIGHT OF THE FACTIONS. tue