The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1874-12-02

PHILADELPHIA, Dec. IA committee of
Jay Cooke Il Co.'S creditors, say, that if
claims preferred against individual members
of the firm, are proven, there will hardly be
anything left for the creditors of the firm. The
meeting was ORDERLY, and it is to be confirmed.
NORTH CAROLINA LEGISLATURE.
RALEIGH, n. c., Dec. In the State Senate
to-day, Mr.. Jenkins, OF Cleveland, introduced
bill tor the adjustment of the public debt of
the State, which bill provides tor the issuing
of new bonds, payable at the expiration of
thirty years, and bearing six per cent interest,
to be exchanged for the old bonds in the fol-
lowing manner:
The treasurer shall exchange the ne bonds
at the rate of % cents on the dollar for bonds
issued since the war, but under the acts OF
the Legislature adopted before the war shall
pay 16s cents on the dollar for bonds issued
during the war for internal improvements:
shall pay 121 cents ON the dollar for bonds is
sued for funding the interest on the public
debt OF the State under acts of the Legislature
of 1867 and 1868; shall pay 10 cents on the dol
lar for bonds issued since the war under the
ordinance Of the Convention and the several
acts OF the Legislature, not to include the
special tax bonds.
printed.
Judge Brooks presiding.
The Methodist Episcopal Conference (South)
of this State meets i'll this city tomorrow.
Bishop Marvin, OF Missouri is to pre- .ide
INAUGURATION OF GOV. CHAMBERLAIN = HIS
INAUGURAL.
CHARLIE sToN, Dec. 1.-Gov Chamberlain
was inaugurated before the Legislature at
Colunoia to-day, with great eelat. The Hail
OF Representatives Was densely crowded with
spectators. including the judges and officers
OF the State, and Federal courts, army officers
and prominen, members of the Charleston
bar. Music WAS furnished by the 1StA In
tantry band. After the oath had been admin
is,ered by the Chief Justice, the new Governor
was greeted by a salute Il artillery, outside
the State House.
Gov. Chamberlain then delivered his inau-
gural address, foresha!Owing his policy, for
the reform OF governmental abuses in South
Carolina. He calls attention 10 the fact that
in the late canvass the two political parties
which sought supremacy were equally en-
phatic IN their demand for the correction Of
abuses Only two parties appeared at the
polis both OF which protested TO seek similar
ends by similar means.
Gov. Chamberlain says that he will, there
fore, rely for support upon these members OF
the General Assembly who were opposed to
him, as confidently as upon those who favored
his election. The paramount duty, he says,
is tine practice and enforcement OF economy
and honesty i'll the administration of the Gov
eminent. In his opinion, our evils are chiefly
those Of the administration and the earles.
and most earnest attention should be directed
to this subject.
vi the collection, appropriation and dis
bursement OF the public funds, he admits that
tt,nvr ,i,,ot Of t,--,
beer unjust and oppressive, but the total as
sessments have been reduced thirty or forty
millions Of dollars this year, and he stands
ready, he says, to cooperate with the General
Assembly in any measure calculated to obtain
a just valuation Of ill property for taxation
according to its true money value, and so far
as the faithful execution OF the law depends
upon officers appointed by him, no coun-y
shall have just cause of complaint
The taxes, he says, should be strictly linz
tied to the actual req ,i,remeRts Of the govern
ment, and the contingent fund should be
totally abolished. Tie Legislative EXPENSES
must be reduced, he says, to an economical
limit, by reducing the length of the session 20
thirty days; by avoiding the consideration of
specalacts. which can be covered by general
laws; by reducing the number Of subordinate
officers nd attaches, and by cutting off the
contingent or Incidental expenses which have
been as much $4,000 a session, with half
million dollars Of legislative pay certificates
sill unpaid.
The public printing system he declares to
be incapable OF defense or excuse Iu three
years It's cost was $91S, 629 He urges also
that the expenditures of the State be kept
within the receip ts the issuing of certificates
OF Indebtedness OF orders or warrants, when
no money is ON hand to pay them is con-
demned. In the matter of abolishng I'M
necessary offices and reducing salaries, Gov
Chamberlain will agree to any measure which
the General Assembly may adopt.
In emphatic words he declares that the SET
Element of the public debt, under the act of
last winter. must be regarded as final, as far
as legislative and popular influence and action
can make it SO.
About two millions Of dollars OF bonds have
been funded under the act in question, and
the entire State debt, when SO funded, Will
amount to only $5,740,0lG.
For the outstanding bills OF the Bank of the
State, Gov. Chamberlain holds the State to be
responsible, and advises that they be declared
receivable for all past taxes and be receivable
Ill installments for future taxes, as was done
n a similar case by the State Of Tennessee.
The trial justice system he locks upon as
costly, Inefficient and oppressive. and he
promises that he will appoint as trial Justices,
only persons who well know the law, and who
will use their powers to preserve the rights
and protect the interest Il all. The pas
sage Of a law for the registration of election is
recommended as a matter of obvious Justice
as well as mandate of the Constitution.
The repeal of the Law requiring insurance
companies doing business in the State to
make deposit OF bonds OF stocks with the
Comptrolhng General is strongly r.com-
mendea.
The p,rdoning power, says the Governor,
will no longer be allowed. He proceeds to
say that the occasion will be rare when he will
be justified in setting aside the judgment OF
courts and the verdict of juries.
He advises that there te no eednetion of
the sum now appropriated for educational
purposes, but the General Assembly is III
yited to see il the want of efficiency on the
part Of the county school commissioners can
not be remedied to those measures OF REFORM
Gov. Chamberlain declares himself TO be
unalterably uIe6on1