New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-06-11

GOV. KEILOGG's REPLY TO CERTAIN NEWSPAPER
sTATEMENTs-THE OUTSTANDING DEBT AT PRES
ENT ONLY $21,279,6SO 25-A CONTINUED RE-
pUCTION PRoMIsED-THE ANNUAL INTEREST
CHARGE, $1,O5O,OOO.
NEw-OpLFANs June 1O.-GOv. Kellogg has
written long letter to The Chicago Times in response TO
an editorial which appeared in that paper in which the
debt OF Louisiana was set down at $50597 1894 3d. lie
says:
The Times having stated prominently what the debt
of Louisiana no Will you not permit me to state what
DEBT rs Was ga do7 90 It has been decreased by the
redemption OF ~ past due bonds, ST. 900 by tue retire
ness and paycI, OF the amount due the fiscal agent
81 or $50 H. by the exchange OF OF eons1n
dated bonds for 30 $4,000 Of old bonds Fl ,2oZo Dy
ths exchange of l2 i2l 80 OF consolidated bonds for
S7l23s s old warrants and certificates OF indebted
Ing The actual debt Of the State to-day S2l2796sO %
Tic figures given in The chicago Times. representing the
en from report prepared more than two years ago
by "A Mr.. Weymouth gentleman without ocai SAINT
ing but afflicted with incurable mania on the subject
of reputation. He prepared most igubriois analysis
Of the condition and origin of the state debt for the use
This committee dld not accept it. and he has since
been striving to get INTO print az the Pupu p tie
Legislature appointed at the regular session last winter
cxamneinto the account of the Auditor ana
very unwscly, think. permitted IL 10 Dc added as
an appendix to second edition of their report Issued
since the aounme 81 the staffe ,a nm assnfes
that there intention To make this presentlnent VI
an %ty 6s ppd t ~ viii show that it has not the
hottest connection with the existing state debt, but Is
simply what il PROCESSES to bea report, not Delore pup
Il.Led prcparch by j. NJ Weymouth for the use or the
Committee of Examiners appointed by HIS Exccllcncy
Gov kellogg i'm 1873. More than y'1 100000 OF the
contingent liabilities of the state therein referred toll
they had any actual existence ia 1873 when that report
was pr. pared which than d"ubtful-ave since
been bucd forever uucr the sweeping repeating act OF
the isatuic and constitutional amendment soiehhy
raj ID 10y the people. ., $3.50
1t has been generally accepted ny our ce;tos al
home and have Just received from tue council OF Tor.
ern bondhoders, under date of May 20 1870 formal
moi dctou hat while they still condemn the bill, they
are prepared ACCEPT its provisions, being satisfied that
Of thc citizens and forms part OF the Constitution o.
the state. We have funded already over S6O0OOoo OF
ObIgat ons and have than TJOOOOO III the Treas
ury 10 tie credit of the interest uni me Times say de-
lilcratey and explicitly that $5O,j91394 30 Is the
amount Of the debt State Of Louisiana as 1t stood
Say deliberately and explicitly, and with the records OF
the State Auditor the state Iieasur,r, AM the
Fiscal Agent to bear mo out IN my assertion,
that tho State debt. including every outstanding
bond kept the old Properly Bank bonds referred TO-
and AN outstanding warrants of Whatever kind or nature
i. a r present time but -l .279.6S0 - and that it will
continue be reduced until IL reaches the iiit OF
900 900 The Times that our annual interest,"
charge more than r.SJOODOD state that our annual
interest charge l. ~ O5oODO and this IL limited by The
Constitution MSit presentation of the condition Oi al
fans in Louisiana appear. 10 have been chronic With
large norton of the press. such glailng instantaneous
ms thrsr nave quoted may indeed ulc the credit OF the
state abroad rctard the returning prosperity OF the
p,oe and afford the poclans ot DINER Stitcs ma
irri aid campaign but can erect no DINER
can party here know and will admit the utter alsty OF
tLe oil