New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-01-14

Ihe administrator OF PuDllc ACCOUNTS,
Hon. j. Calhoun. reports the expenses OF
that department for the years 1872 and 1913
as follows:
lS72-Salaries Of officers and en-
ploy ..............$ 3U,b S4 10
lSl3-Salaries OF officers and en-
plOytS. .......-.......... @l,o1o ~
IS72-Ottice exnenses 1856 %
ls13-Otfice expenses ............ l,24l II
lS2-Iotal expenses. ..$3o,o0O Z!
lS13-Total expenses 23,006 81
Reduction to. 1873. CAB 80
This result OF economy forms but small
item in the vast account for which the city
stands indie bted to the Administrator OF
this department. whose extended and COM
pick affairs demand the joint abilities OF the
skilled accountant. the sagaciOus financler.
the experienced merchant and the learned
jurist. All these have been labnriously and
constantly employed by Mr.. Calhoun in
vigilant guardianship of the interests of
New Orleans. Although ably assisted.
the greater and more important part OF the
business of his depaI tment requires his
personal attention. All accounts. contracts
and settlements are subject to bis inspec
ton. His duties are .oiIsome and RESPONSE
bic. leaving him seldom at leisure OF free
from care. His intimate acquaintance with
city affairs and his sound judgment have
enabled him 70 aid the Council with infOr-
nation and advice. welcome alike for their
intrinsic value and for the graceful. plain
and unpretentious manner ia which they
are always given.
The aggregate nec savings of this admin.
istration for 1873 as compared with 1872
were 5000 G.}, or VI the rate CT about
i. $4,000 per day.
City Debt.
wv
the thirty.tirst of December. 1873, S2l $780,.
566 "a. the yearly interest on which will be
Sl.:S7. 34l. PAYABLE as follows: In January,
$22l,9l2; in February. sl49S6: IN March.
$I09.36I: in April. $lI0 915; in May, 500, $40:
in June. Sl33,496: in July. S224 .9l2: in
August. Sl4, 1885, in September, sos. 36l; in
October. $Il0,975: in November. $90.940.
and in December. sl33 49G.
There will mature IN May Of this year
jackson Railroad Company bonds to the
amount of $l,64, 600. and Opelousas Rail-
road Company bonds, to the amount Of
1922 coo. in May and September.
OF the bonds making the present bonded
city debt inore than one-half were issued
since 1868 to Wit: sll,19S.2?5o. These com.
prise s., $4,000 O. seven per cent bonds is.
sued in 1869 and 1870: s2,926 600 gold consoli.
dated bonds of the genera! and drainage
series; 1897 900 street improvement! bonds:
$.24 900 wharf bonds: $3.50 street assess
ment bonds: So. 700 Jefferson City bonds:
Sl.5i3, $50 ten per cent bonds: 100000 ten
per cent bonds. pledged. and ssi..J0 zone
millionloan" bonds. TIE SOC coo in ten per
cent bond: are pledged to the Fiscal Agent.
and do not represent an increased debt,
having been given rs security.
The floating debt Of the city. December
81. 1872. was s933.39 -. and consisted of
the following items: Floating debt eer,iti.
Gates. SoS1S 80: sever-thirty administration
certificates. $306S SO: ten per cent certiti
100000: Fisk ASYLUM bonds. $4,000:
certificates FOR so!l; bonds. sl06.023 -;
new .eveu-'hi,ty certificates. 1881 81:
;ive.ishts tax excess. $i6.i90 81: cert.
:icates OF appropriation. :!3. go 81; az.
Precipitation. anceHtified, $4,000; tax war.
rants. :3S.l0J 50: bills payable: $500 81:
coupons due and not yet presented. So.
Il. 20: difference owed Louisiana National
Bank. Fiscal Agent. :SO,BOo.
Adding this 20 the bonded debt the total
city debt appears to he So, aj.2 Sc, -. Bnt
the above amount OF floating debt. $685..
:}3S -. includes sl.7,.3D -; Of public school
warrants certified for funding. which did
not appear on the city debt Statement. for
tie year 1872. as there is no register stating
or showing how MANY were outstanding.
Addin. the above Si!.,;:30 80 to the debt
statement for 1872. the amount will be
81. :23 .0j 36. or difference OF $780, IS IL
in favor of 1873.
At the close Of the year 1868. ,hc bonded
deb. o: New Orleans was 1881 1877: Of
1869. : l5.359. 40: OF $780, bonded and float.
ing, $3.50. .S9G: Of 1871. bonded and float.
ing. $lJ393, S66: Of 49,. Bonded and flat.
ing. So. 42*,:GS. and of 1873. az above
stated, $2 a 3. 965. Vt the date of consoi.
iation. the debt o: the city was s7,!ei,445
This de.,t increased for sixteen years more
or les: rapidly. and in December. 1867, the
bonded and floating debt amounted to
about Sii,o0O.0o0. The pas: wear of yOur
administration. 1873. is remarkable as the
only year in which the debt OF the city has
not been increased.
III, enormous deb: O: III: city. amount.
ing 10 more than one sixth part OF all the
taxable property on cur assessment rolls, is
a legacy ct m.sinanagement. extravaganza
ana oppressive legislation for which the
present city government Is not at all re.
sponsble. The deb: was allowed to ac.
cnmulate in seasons OF prosperity. when
population. business and capital were in.
creaslng: its heavy weight must now be
borne 10y an impoverished city. But the
debt remains and the law tact No. - of
1917. Obliges Us to assess d tax sufficient to
pay the interest on tho debt and the bonds
falling due. This was found TO be one
dollar fifty cents and three mills. On eanh
one hundred dollars or more than one half
OF the entire tax. For this interest or debt
tax nothing can be received but cash. Thus
the property holders OF New Orleans are
now obliged to pay annually about $780,
O0c as the cost of their city government il,
former wears. for " Aich they are deriving
but little benefit.
Taxes.
Un the thirtv-frst Of december, 1872. the
taxes for that and preceding years from
1860 amounted to S3,lS6, 16i: collected
during the year from the same, $l.5l7 500,
leaving :lncoIlected S..G69, 29S. al! OF which
has been due since the first of August. 1872.
OF the taxes for 1873 there remained I'M.
collected on the thirty-trst of December
81 ,f99, 39i making the total amount of back
taxes for 1873 and preceding years remain.
ing uncellected $i.l6S, C52. The total
amount Of tax collections in 1873 was
$3,lS0.SS0 -. Of which only 1891 ,27i "a
was collected il. the last four months of the
year.
Inc year ;las been L ciscouraging one to
holders of taxable property. many business
and dwelling houses remaining untenanted,
much capital in many forms resting idle,
and almost every species Of business FROM
which income could be made much de.
pressed. During the last four months of
the year. including nearly one-half Of the
usual season of business, the severe strin.
gency in financial affairs suspended the cir.
cuIation OF money. the collection OF debts.
the prosecution Of ordinary business. the
receipts OF produce. the distribution OF
Supplies. and the influx of visitors.
a temporary paralysis, here as elsewhere.
peryaded every industrial! pursuit. Such
was the shrinkage in values that it became
difficult 10 obtain loans, even with ample