New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-07-12

hons, ana 1ngenOu8ly, Duk not 0lfecllys
congratulated the Committee Of Fifty-one
On the probability Of it reaching twenty
five millions.
All this was intended at that time to
bring the Administrators into disgrace,
and incidentally to reflect on the Gov
ernor, whom they pretended to hold re-
sponsible for it all The statements were
made to unreasoning multitudes and in
dorsed by partisan press, alike regard
less of truth and fair dealing. Notwith-
standing the tendency of such misrepre-
sensations was to depreciate our credit at
home and abroad, they were persistently
asserted, and the injury resulting was inn
pudently held up as the effect of policy
pursued by the Administrators, or par
ticular departments Of the municipal gov
eminent. The misstatements, despite the
fact that they were repeatedly answered
and their falsity shown, were and are still
in no small measure the political capital
Of the opposition. Like the peripatetic
IN, who asserted that the State debt was
sixty millions, they stick to- it, in face Of
proof to the contrary and even common
sense, But as Auditor Graham's report
was sufficient to remove the impression
produced on the public by IN. 81 fraudu-
lent declarations, 50 will Administrator
Shay's report put an effectual negative to
the false statements regarding municipal
indebtedness and the condition of the city
indebtedness.
This fruitful theme of ward and pot
house politicians is lost to them efectu-
ally, if indeed they are not like an, who
does not care a pins point for facts and
figures.
The summary Of the debt statement to
June 80, 1872, including all bonds of the
city, with certificates of appropriation and
interest due, and seven-thirty and drain
age and. gold certificates, amounted to
$50, 763, 658 81, which, by the probable
decrease of bonds by January, 1873, will be
lessened considerably over half million
of dollars. To this must be added the
taxes on the present years assessment,
which, less the expenses of the munic pal
government, reach within triflle of two
millions Of dollars.
Does this exhibit such a. disastrous con-
dition of affairs as Incorporation has per-
sistently declared? On the contrary, does
it not show by the retirement of large
amounts of bonds healthy and hopeful
condition of municipal securities and a
air prospect of liquidation within rea-
sonable time?
But these persons. so persistent in OBJ
jections, and who are SO free to denounce
and corruption, fail to tell
us that two-thirds of this Indebtedness has
been incurred by. administrations since
the war, preceding that which now holds
control Of municipal affairs. The disor-
dered condition IN which everything was
left on the retirement of the old council, !
was an inexcusable reproach to any gov
eminent Their populations, .shortcQm-
ings and incompetency, was hid by con-
fusion resembling chaos. If no exposures
were ever made, it was because a smoke
SO thick that none dared penetrate ii, eff
concealed their devices. Indeed,
4 prominent member of that council once
said to the writer: 81 didn't make as
much money as you think did, for when
ever big pile was in sight all the mem
oers made big heg-a-ballue and the confu-
zion was. so great that when I got my
senses clear again, the money had van
shed, and lost my share %