New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-11-01
THD PROPOSED CONSTITUTIONAL
AMENDMENTS.
Letter from Cove. nor Kellogg.
STATE o. LOUISIANA.
Executive department.
Few Orleans, October 81, ls74

STATE o. LoC1sIAUAs
Executive department. :
Hev Orleans, October 3D. ls74
EDrroe REPUBLICANS:
Under thu impression that the proposed
amendments to the constitution Of the State,
which are to be voted upon on Monday
next, are only imperfectly Understood, l ask
You - publish the following statement:
An objection often urged is, that should
the funding bill be finally ratified by the
amendments proposed, there is danger of
many fraudulent bends and warrants being
funded. This fear is groundless.
Two years ago the outstanding warrants
of the State amounted to about 81, 222l 600.
They have since been reduced to consider
ably lens than $l.00O0O This reduction
was effected mainly by receiving warrants
in payment Of delinquent taxes. If all the
present outstanding warrants we're funded
(and some are questioned, aud viii not be
funded until passed upon BY the courts)
the whole amount of bonds Issued in ex
change therefor would be- less than 5000, ,0CO.
A. to the outstanding bonds, they are all
well known. and the validity OF those ques.
toned is now being tested in the courts.
Tbe funding beard, at one 0t it's first meet
ings. Unanimously adopted she following
,eselu.ion:
hssolved, That the board Of liquidation
will mot !und any outstanding bonds what
sOever now IN question in anv Of the courts
OF the State until the validity thereof 4hsll
b. first determined by the Supreme Court
OF the State.
Am certain that no bonds now regarded
40 questionable will be funded, unless their
validity is first esta blished BY the court Of
last rcsor. 40 stated In this resolution.
Under the amendments proposed, the debt
Of the State can in no contingency exceed
$4,000 Gee. and taxation can not BE- in
cresee1 beyond twelve and . half mills
except for schooI purposes two m,lls).
There ia sno her amendment that believe
to he Of great Importance, dsvotiDg the
annual revenues of tho State - the ex-
penses "f the same year. The bsne of she
State for years past has been that the
yearly expenses bare largely exceeded the
warrants in excess Of revenue. and At the
enc IT every year large surplus Of out
standing wmrrants has been carried to the
account Of the succeeding year, thus in.
crrasiag the floating Indebtedness Of the
State year b., year amt eventually adding
to the bonded drbt The amendment pro.
posed requires the expenses to bs kept with.
in The recelp's. snd makes null and void eli
arproprIs' iune made in exc-es OF revenue.
Surely there eau be no objection to this
amendment.
Another propoaed amendment. limiting
the debt Of the city II New Orleans, and
providing that no cvid. nee of indebtedness
ur warrant shall be isaned after the frs, Of
Jnnaaty, 1875. except against cash actually
IN IN" city treasury, seems to me, also, ~
plainly beneficial in eveIy point of view
thas car not imagine any reasonable OBJ
jecti"n to it.
The last Amendmens proposed simply
provides for the election Of presidential
electors. mep,b.rs ot Congress- and State
ofi,are on the sa,rs day. thus avoiding the
expense and intsrrusion Of business which
~oult result from y. election on two cen.
seouiive days IN November. 1876. and every
fourth yenr thereafter.
If the taxpayers "f Louisiana will calmly
and diapassionately consider these amend
rncnts bs lieve they will com O 70 the con.
clnsior. that they are not only unoh}ectjcs
able. bns that their adoption vill scry
largely advance. the material intere4tA Il
the State. ard tighten the burdens Of the 5!
people. Very respectfully.
WILLIAM r. KELLOGG. I