New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1875-07-01

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the impending stoppage of interest pay
ments on the city debt. His honor MOI
only explains how this has come about
from the constitutional disability of the
city to go in debt any further, but he goes
| on to assume tFat the public safety is the
| supreme law, and so assume for himself
and Council the power to provide 70,
the public safety by. suspending payment
of the bond interest coupons, and by
! applying the funds collected into the
treasury for one purpose 70 meet the
obligations of some other.
In wading out into this very deep water
! it would occur to us that an occasion may
have arrived for the call Of special legis-
lative session to relieve the Council from
such legal restrictions as prevent financial
relief by the means indicated. It would
give no pleasure to any to behold gentle
men expiating the legal consequences Of
their zeal in behalf Of the public. and we
can see no other than legislative relief
from such consequence of official fidelity
manifested in the way indicated by the
Mayor.
The highly sensational items Of public
service announced as subject to suspen-
sion will naturally excite popular anxiety.
The Council apprehends that not only
will the public creditor lose the July in.
seress. but that the supply Of gas and
water. the protection by the police, the
instruction Of the children. will be all in.
terrupted. We DO not therefore see how
without warrant Of law the Administrators
can relieve themselves from the personal
and penal consequences Of perverting the
interes: fund to any others purpose.
In the meantime the rents of the
markets and the receipts from the water.
works go on. and there is no evixsnces
that the collection of taxes is 70 se sus-
pended. There is middle from which
we see no logical. and certainly no legal
extricatiop
At the same session which proclaims
the insolvency Of the city as to its ability
to meet the debt interest. We have lease
confirmed Of the city wharves. Upon VIVA:
equity is this done: To protect the credit
OF the city upon bonds issued for re.
pair OF the Nwharves. Are there then
two classes Of public credit, one of which
goes to protest for want Of funds, and the
other 50 sacred that the franchise most !
important to the commercial portion Of !
the city would be pawned to make it
good: This is an incoherent and con.
position in which the admins.
Iratiop has placed itself, and it will be.
come the duty Of The biographer who
shall! prepare its post mortem memoirs to
give some explanation. At the same time
hat the administration declares itself IN.
lble to comply with its contracts the sales
II property for payment Of delinquent
axes are most conspicuous. The lease
lold tenants of the public markets are
The Water works seem in i'm
ninent danger Of passing into private
monopoly. jus: when the need of an
'bundant supply of water for the health
nd safety Of the city is most apparent.
We do not see in this published schedule
+ corporate bankruptcy any concession
nade to the non-payers of taxes. This
ssI,e remains az before. The Admins
rator OF Finance appeals to the "sorbear-
nee Of the public creditor" until the re.
eipts shall justify the resumption of in.
crest payments.
There will, no doubt, be some response
rom the public creditors to this unquali-
ed protest Of their demands. This we
hall await. Our interest is awakened to
earn how the Council will carry out its
lans of fund perversion without incur.
ing the consequences imp osed by the
IwS.