The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1874-10-03

Total Observation-Disclosures s., 726, 37e
AS will be seen, tho saving the first
year Of my administration over the
last of my predecessor, was $157 ,2l3
In the second year Il still filrtlle,
saving was effected OF S547, 1872
At the same rate; during the next
two years, my administration will
cost SIS, 452, 755, while the admins
tration Of my predecessor, for the
same time, cost SIG, BE, 745, aud the
Democratic administration OF 1865.
1866 and 1867 cost $l7 lbs, 554.
\ statement made by the Auditor.
of this date, now before me, shows:
Bonded debt Of the State January l,
1869 :-...-- :....-.. 80, s33, 562
Increase of bonded and floating debt
during Governor Warmoth's sidmi-
lStratlOn IA $50 6S5
Total debt when Governor Kellogg
came into Office .........sS240 s4 es7
Increase during Governor Kelloeg's
administration by issue of bonds
authorized by laws passed pre-
vious!y SOL 900
Reduction Of debt during Governor
deElptlon Of past due bonds, fund
ing operations and retiring of ont
standing floating obligations COG 033
Showing the net decrease of debt nm
der the Kellogg administration S 925. O23
l respectfully commend the forepo-
ing statement, which is, of course.
easily verified, to the consideration Of
those Northern journals which have
denounced my administration as cor
rupt and oppressive, and which vet
profess and believe in fair play.
A committee of eminent citizens
Appointed by me in 1873, irrespective
OF party, to examine and report upon
the status OF the public debt of the
State and our means Of payment, re-
commended as the most equitable
adjustment which the resources of the
State would permit, the funding of the
State debt ut the rate of fifty cents on
the dollar. Subsequently tile Cham
Der of Commerce of the city of New
Orleans, in substance, indorsed this
recommendation of the committee Of
citizens. Believing that the Justice
and strength of the proposal to scale
the lndebtness OF the State lay in the
TACT OF the State offering to its cred
ltors the very utmost amount it was
able to pay, and believing as | did
that by an economical administration
OF its revenues the State could afford
to pay to the holders of it's bonds
sixty ceuts OH the dollar, instead Of
fifty cents, proposed, recommended
to the Legislature the passage of an
act authorizing the funding of all the
legal and valid outstanding indebted
ness OF the State at this rate, the |
bonds SO issued ill., exchange to be
guaranteed hy constitutional amend
hent, aud the appropriation of inter-
st on them to be made by the same
means perpetual.
also recommended a constitutional
amendment, whicl, was passed by the
legislature, limiting the State debt,
when funded, to S15,0OO,OOO and the
ate OF taxation to twelve and a half
nils, exclusive of the school tax
TWO 'mllls). All these amendments
lte 10 De Voted upon at the election
n November: My recommendations
we're adopted; aud the funding bill
'ecanie a law with the then. almost
UNIVERSAL assent Of the property hold
ng people of the State.
Parish taxation is by law limited to
he same rate as State taxation. The
axes assessed for the present year.
nder the operation of the laws passed
y the Republican Legislature,
mount to fourteen and half mills
tate ineluding sclools), and by con-
e4ucnce i'll 10 case more than foar-