The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1874-12-02
CITY FINANCES.
WILL THE PROBLEM BE SOLVED :

and Administrators that follow in the biennii
order set down in the charter Of 1870, tor Tia
government of the city OF New Orleans. MI
Flanders, as Mayor, With seven Administra
tors as assistants, took charge OF the govern
-nent in 1870, when the entire floating debt wa
wiped out by the creation of new and III
creased bonded one. This administration di'
not solve the problem by making both end
meet but bequeathed to the Witt ADMINISTERS
lion that followed tangled debt that has no
yet been unraveled. The late administration
adopted a rule that each government mus
take care Of itself, and all Liabilities paid from
the old assets, and not from the new.
This theory OF government was never pfac'
.tised before, and, assuming that the pfeseh
one will be conducted III like manner rave
made up my expenditures accordingly. There
Is due the Louisiana National Bank nearly
$500, 900, and nearly all the available assets OF
the city are given to secure the claim. There
is also due for coupons in December Sl42, f4o,-
80, January S23S, $50, February sl7,2Go ~.
Total 1897, 9SJ 20 AS the Fiscal Agent has
resigned, with no prospect OF the appoint
ynent OF another. and as the licenses due IN
January, with other revenues, cannot be used
FOR the purpose OF payment, let the Admins
traitor OF Finance accept the coupons in pay
raent for their apportionment of the taxes due
in 1875. by adopting this course collections
of taxes would increase fully ten per cent over
the Usual way.
The city would do better without Fiscal
Agent, except for the consolidated fund, ii tue
law could be so changed. The Citizens
Bank had the fund for ten years, and probably
made one-tourth Of million dollars out Of it
without any cost to the city. The FIRST
National Bank took 1t next and be city has
been sorrowing after her money ever since
Joseph Hernandez the Treasurer, was next
~ NV hp M r1 ut
Commissioners OF the consolidated debt. |
do not think Mr. Hernandez paid any coupons
but J. who succeeded him Treasurer, ana
not as Fiscal Agent, paid over S5oO,O0O II
coupons, and mostly III small city notes Mr..
LaytOn, of the Southern Bank, then took the
fund it exercised all his patience and that OF
Mr.. DevereuX, the cashier, 10 keep the city
straight. Mr.. Layton was finally Disguised,
VIXEN the bank threw up the sponge,
The Louisiana Savings Bank and Safe De-
post Company, etc, then came III for the
spoils. There was the usual quarreling about
deposits, etc, when the Witt administration
went in. The first act OF that Immaculate
body was to notify Van Norden, the President,
chat they had no further use tor his services.
BY this move they gained one point and lost
two, and the effect was seen when the city
sumed to pay the certificates OF Indebtedness
;aeld by the bank. The city had the manage
znent of this problem in their own hands, but
failed to use it. The Savings Bank was sol
vent when the arrangement was made, and is
solvent now.
The Louisiana National Bank came next,
assuming to pay ali the liabilities OF the city
held 10y the Louisiana Savings Bank, bat the
account winds up with the city owing the bank
100000 with collaterals pledged worth pro-
badly double the amount.
The question nov is how to conduct the
city government economically and with low
taxes, thus to solve the problem by making
both ends meet. In all my arrangements /
will allow lUt half per cent OF taxes to the |
city for all purposes, except the payment OF
the bonded interest," this amount added to the |
other revenues is enough, and thus estimate. |
With a tax OF one and halt per cent on
real and personal property, besides the other
revenues, the city can pay the entire interest
on the bonded debt with the full expenditures
of the city government but observe that the
interest tax may be pad for generations to
come thea the principal becomes due and is
also to be paid With tax Of one and hall
per cent on real and personal property and
the other revenues, the city can pay the ex-
penditures with the half per cent and appro-
PIRATE the one per cent for the redemption of
the bonds, which, at the reduced rates, will
take ten years TO redeem. The interest All the
is to be suspended.
With tax Of one per ct and the other
-evenues and with strict economy the expen-
ditures OF the city can he met, the full inter
est on the old Consolidated Bonds paid and
three per cent paid by compromise on all
other bonds outstanding, except the Water
Works, Improvement and Wharf, all OF which
will be hereafter provided for. The State Will
nave to aid IN these changes an repeal or
modify the following laws: The Metropolitan
,I..r
If the Mayor, and limiting the number to 500, :
0tal expenditure 100000 or have the city
divided into sections and throw the mainten-
nee of the police on the owners or occupants l
# the property guarded. but let them be |
lnder the control of the Mayor and officers {
ppoin.ed by the city.
Tie School Lar.-The law Of 1855 can be !
e-enacted as more economical and better than
he present system A bureau system was IN I
ogue during the war that answered very v
veil. Under new law admit no children =,
Inder eight years OF age.
TIE Coronors' La,c.-Betore the war, in fact :.
p to the year 1870. there was but one Coro-
Ter, at salary Of $4,000 per annunl, he pay Il
ng all expenses. Il
Parish Prisoa.-The city ever regulated the 7
maintenance OF prisoners until an enter =
rising sheriff had the price stuck Oh the fee /,
i'll Of the State. The price now paid is sixty L
ents question if Major Patton ever real L
ed more than thirty cents. Forty cents per
ID would be a fair rate.
NRuauge-The law rs it now stands ought
be Npealel. Go back to the Old system II
nd sell{k out, rs was done in olden times =,
he entirN cost then was from forty to fifty i
lousand u liars per annum. It will not cost =
Inc PdrJ Tar-A territory in the Third
district as large as Belgium might have been +
Tor what has thus far has been ex-
ended on body of land called park in the y
ixtb District &c. the law repealed, and =
ave IN future the eighth tax. Far better
'ould IT be to MD the Texas Railroad with this y
TX. j.,
| believe, Mr. Mayor and Administrators, :.
hat this is III You Will require Of the Legisa- y
are to enable you to lower your taxes Now IA
epend on your own eNertions / have known
len IN business in IL worse fix than YOU are "
ork out Of their emoarnssments You must
ndeavor 20 create revenues outside OF taxa
on. If you reverse an expenditure il be Vi