Wilmington daily gazette., 1873-10-20
DAILY GAZETTE.
rae MonshIIes-Scrlbmcr.

scFibner's Magazine for November is already on
sale. It Is an excellet number and well worth
buylng. IL openes with finely illustrated article
on ''Old and New Louisiana" !" and from its de-
scription Of New Orleans, we take the following
glOOnhy picture. 1t ought to melt even the heart
OF Radical II there was any patriotism lett in
h 8 BISON. The labors for two centuries of the
whites has by that party been handed over to the
negro; "a ssAs-
"If capital could only flow in here and deveIon
all these wonderful lowIands! That thourht
strikes you at every turn. But the people have
given up hoping, cit were far better" said ma
i've Loulsanian TO me, "that our State be reduced
TO tho condition OF territory, and that Congress
assume the debt we have made, for the present.
than 20 allow our actual condition to eontiuue-
This staguatiOn Is becoming intoierable.'
new Orleans fN9srs peculiarly, its taxable
properly being cumbeFed with two huge debts
that 81 the city ITSELF now estimated at about
SSSocOOOo, aud over three-ffths of the States
various liabilities of e42,0O0.O0o, while the city
groans under such enormous taxation, il is loaded
down with Rrlevous license-burdens on all trades
professions and occupations, amounting to nearly
Sl,OOo,OO0 annually. Under these burdens il Is
not astonishing that real estate In the city has de-
cllned more than thirty per cent. IN most and
more than ffty In many cases The donhIe nnh
lie debt ofthe city Is already more than ouesourh
OF Its property assessment, aud the many times
more than the value of all the available property
owned py the corporation. The annual expoudi-
lures OF the city have been increased from SO 767
600, In 1862, to $685., 1871 in 1872 aud still
mount upward. Meantime the streets remain un-
ca ed for, and the treasury Is empty Where has
the money gone? The city certificates are sold
on the street at enormous discounts; the Legis.
lature 9 sessions cost the people half a million
dollars yearly instead of 100000 as in 1860. and
thls also the city is compelled mainly to pay;
therefore, OF course, whoever buys property Ia
the city Of New Orleans buys with 1t = share of a
great and discouraging public debt.
Here arc two or three instances which will show
the present status Of property: gentleman was
six mouths ago, offered loan of $1,000 on the
security OF certain real estate owned by him. He
dld not then need the money; but recently went
70 the capitalist and said, 81 will now accept yo1I
kind oiteF." al would moi" said the capitalist
LEND you 5000 on the property now Its worth
nothing as security. No property in the city
10 we current condition Of politics, is worth
anything
gentleman who purchased, short time be
lore the war, Ane wooded estate in a rich section
of Louisiana, for e1Co in gold per acre. informed
me that be had tried repeatedly to borrow upoI
the security Of that estate, and that he could no
get any one to lend a sum equivalent to 81 pc
acre on it.
Another, person of influence and good posi-
tlons took occasion some time since to make
round OF inspection among the foreign emigrants
VINO were preparing 70 leave In large numbers
on inquirng among the Germans, who were rap
loy departing, he found that they were all dis
connged At the continuance OF the crisis, an
had either decided to emgFBte TO Texas, Calllol
MA OF taA North, or to return to Germany"