The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1874-09-25
IRE STATE DEBT.

Kellogg is a firm believer in the truth OF the
adage that lie well stuck to is almost al
good as the truth, and hence he never loses al
opportunity of reiterating the falsehood thai
under his wise and benignant administration
the State debt and taxation have been re-
duced. He has said, written and telegraphed
it SO often t. at it is fair to presume he must
have almost come to believe it himself, how.
ever much he knew it to be false a. the begin
ming.
! In order, therefore, to disabuse his mind
as well as the minds of the individuals who
may possibly have been deluded by his per.
sistent assertions, we propose to show, br'etiy,
what the debt has been from 1861 to 1874, in
elusive. and who are responsible for its enor-
nous increase.
| We do this the more cheerful'y as Kellogg
and his Camp street mouth-pieee are fond OF
asserting that the Democrats are largely
| responsible for the millions that have been
| added to the debt since the war, and that the
Ra icals have legislated with view to re-
ducing the burdens Of the people.
the State debt was SO, LOT, ss2 u, with tax
of 20 cents on the 500, to meet the payment
OF interest, and for all other expenses. In
1866 the State debt was oli, 1872, ST. IA, with
a tax Of 81 cents on the Sl00-this embraced
two years of military rule, the remainder Of
the time being under Hahn and Wells as gov
errors. In 1868 the debt increased to 5l6,-
S05 $50 IL; but it must be borne in mind
that of this amount s., 900, 600 were expended
for building and repairing tho levees, which
had been destroyed or injured during the war
by the Federal troops, and which it was i'm
perative to reconstruct at Cnce in order to
save tie State from inundation.
One year only of this period was under
Democratic rule, the remaining year the Mill
tary had entire control. The tax Ill 1868 was
52lc on the 500 In 1870, what is known rs
the Warmoth lRadlcaD regime was i'll power
and the debt leaped up in two years to the
amazing sum Of $40, l5G, 73l ~, and the rate
Of taxation was CORE pondngly increased,
being fixed at SOC ON the 500. Would any
other peopl in the wide world have remained
quiet lie tnehdy-hre and u hat millions OF
dollars were piled upon them in the shape Ut
an dtional debt i'll the short space of hoo
gears
Would any OF the atiluent and more fortu- |
nate States Of the Union nave submitted /
without revolution to this enormous burden ? |
In 1871 the debt was SAL l94, 473 81, with |
nv nfI 4 .nYt, VA I'M ~,
1872 still under the Warmoth reign-the |
ponds issued previously to the New Orleans, \
Baton Rouge and Vicksburg Railroad, amount
ng to Sc, 100000, were annulled, and this
brought down the debt to $35, 1888 002 81, but
he tax OF 2l5 cents on the one hundred dol
ars stin remained.
In 1872, under the Kellogg Government,
1874, 600 in bonds were issued to Ray and
4udeling's North Louisiana Railroad, increas-
ne the debt by that amount. The rate Of
me hundred dollars
In the second year Of the kellogg dynasty
1870 the debt, absolute and contingent, is
iven in the report of the immaculate Aud tor
f the usurpation, of January LIST, page 53, as
40, rs, 1872 80.
There may be an error in this stateme t of
Unions of some half million or more, and
here probably is, as we have pointed out
1any glaring errors made by this slipshod
nd unrel able accountant, but his report is
fficial, and must be accepted rs correct until
fficially proven to be erroneous The rate Of
.xation, after repudiating all the Old bonds
nd the whole of the interest except that
ccruing upon the issue Of new bonds is
xed at las cents on the one hundred dol
RS.
Thus, under Mr.. KeIlogg's boosted regime,
nd according to the statement OF his own
Editorial pet, the debt of the State increased .
., 00O, 900. The reduction of which he makes
much ado Is nothing more nor less than
bare-fced attempt to repudiate the legal ,
onds and obligations of the State fer the
enefit of the spurious claims and bonds, the
aiority Of which were held by himself and ..
lie ring of which he is the head.