New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-02-18

more apparent than real, especially II the
present market value of State securities be
taken as the basi. Of computation.
And further, while some Of the States owe
large debts. and others comparatively attic
or nothing, yet when the amount winch
each State contributes to the federal Ieye-
nue. and the great impetus which the relief
from large portion ef Soat@ taxa
tiHn would give to commerce, manufaC-
tories and productions OF all kinds. and
everywhere throughout the country are
taken into consideration, il will be i0uno
that tb. objection dvindle. 70 little IN
pOrtanCc, ana these considerations, TO some
extent. apply 10 another and more potent
objection which may be raised, VIZ the IN
crease of the national debt which this ~
sumption of debt would cause, and the
deletProus effect upon our national credit
which might be thereby produced.
The Governor submits a detailed state
mcnt of the total Indebtedness Q: all the
States. which, if assumed by the federal
government. would increase the national
debt $500. 100000, if taken at par. but, II
taken at the market value, it would be
much less. This sum. at five per cent n
terest, would annually require slJ,OOO.OO3
to pay the accruing interest, and to this ex'
tent, and no more, would the burdens OF
the federal treasury be increased
The Governor claims that this compare
| lively small SUN would cause no embar
rassment nor necCssitate an increase 81
| federal taxation. as the present revenue OF
the general government is sufficient to meet
all current expenses, including the interest
| on the public debt, and would leave d
| balance Of nearly one hundred millions t,
| pay the principal of the national debt. ant
that, too, before maturity.
The adoption of these propositions. IN
stead OF injuring, will enhance our nationa
| credit by the withdrawal OF all State Sc
| curlties from the markets OF the world, aht
| by leaving the national bonds the soi'
| American security would check the go"
| ing danger of reputation ana place the
| national debt upOn so secure a basis tina
| in a few wears it might be funded lnt'
| bonds bearing no higher rate OF interest
| than those of England, reducing the inter
| est upon the pablo debt and diminishing
the rate of interest upon all otner securities
The wealth of the country would be EN-
| Dloyed in the development OF It's resource:
rather than in Specializing upon It's necrssl
ties The Governor says he knows OF M
| measure which could be advised OF more
general advantage to the people, more bene
| fetal to their interest, nor one which wOulC
lead in an equal degree 20 unite and har
monizc the whole country and obllterat'
| the last vestigeS {: national differences and
| antagOnism.
He also recommends the General Assem-
| bIy 90 unite the cooperation OF all tb'
| States to secure the adoption of these propo
s;ti0ns Resolutions were introduced IL
the Legislature to-day to carry out thes'
| Recommendations.
Weather Report.
WAR DsPARsssNY
| ONCE Chief Signal officer, ,
| Washington, February l.. 1870. t:3S :. u
PROBABILITIES.
! Light winds and pleasant weather &
continue Tuesday through the Atlanta
States. Increasing southeast winds yeerin!
| to southwest TO prevail west of the ApaIa
| chan range. The barometer to continue L
| fall, with tire 8tening weather from the up
| per lakes southwark TO Texas. On the LAT
ter coast sOutherly winds and cloud!
| weather.
River infellizence.
SOUTHWEST PASS, February IL. p. M
| Barometer 3O:2J; wind east-n0rtheast, Light
| No arrivals. Sailed-Ship Iris.
SHREVEPORT, February IT.-Arrived Sun
day-LaBelle, Seminole and Texas. from
New Orleans. eparted-ShamrOck. fO
| Jefferson. Arrived t0-day-Lady Lee. from
| St. Louis, and Firt, from Jefferson. De
parted-Carrie A. Thorn, for New Orleans
Weather clear and pleasant. River riseI
| eighteen inches within the last tOrty-eig b
hours.
VICKsBURG, February 17-Passed down
City Of Quincy, 6 A. NJ. Up-Sam j. Hale
ana barges, A. Nj; Belle Lee, K. NJ
! Weather cool and clear. River rising fast
CINCINNATI. February H.-River thirty
seven feet in the channel and falling
| Weather cloudy and mild.
LOUISVILLE, February 1.-THE river ha:
| risen three feet six inches, and Is rslns
rapidly; fifteen feet six inches in the cana
and thirteen feet six inches in the chute
Weather cloudy and damp all day. Olt
boatmcn say there is a prospect of tht
highest water for several years. Arrived
| Commonwealth, from Cincinnati. The
! Alice Brown is expected TO leave tonight
with twenty coal boats for New Orleans.
| EVANSVILLE, February II. - Weather
| cloudy. Mercury "A. River risen foul
| feet and rising fast.
CAIRO, February 7.-Arrlved- Sil
/ yer. from ST Louis, s Z. NJ; Indiana. from
| Evansville. s p. NJ Robert Mitchell. from
Evansville. 9 2. NJ; Tom Sherlock, from
Cincinnati, ) A. NJ. Baker, from Pittsburg
| 6 A. NJ: Charley Mcdonald. from Pitts
burg, 10 A: NJ; John Kyle, from New Or
leans. | Z. NJ; Richmond and Atlantic
from St. Louis, | p. NJ; Julia, from St
Louis, ) Z. NJ. Departed-Susie Silver
for New Orleans. . z. NJ; Indiana and
Mitchell, for New Orleans, II p. Nj: Sher
Jock. for New Orleans, 5 A. NJ: Baker. for
New Orleans. A. NJ: Glencoe, for New Or
leans, A. NJ: Mcdonald, for New Orleans,
10 A. NJ; Henry Ames, for New Orleans,
T. NJ: Julia, for Nicksburg, 2. NJ; Kyle,
for st. Louis, 6 2. NJ. Weather clear and
mild. The river has risen one foot.
ST. LOUIS. February H.-No arrivals or
departures. River rose five feet up TO :
p. NJ. when it became about stationary.
The ice from the Missouri has been run
ming past the city ali the afternoon but no
damage reported. Weather mild an!
damp.
VIcKsBURG. February I.-Weather clear
AMI warm. River rising fast, and is now
within ten feet of high water mark. Ar
rjyed-itlewid. from Evansville. and
Henry probascc. Departed-Grand Tower,
las, night: to-day, Belle Memphis and
inma FIJI, t.. tar -. Louis: Colorado. fir
N.,lleGar.: PINK Narb!e. B!u4 City aI.i i.
+ EgE,r.. for CAIRO.
CI.AEiXETs;.