Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-01-05
LOUISIANA.
Message of Governor Kellogg.
what He Claims 90 nave Done and
what He Ree0mmends the L,egIsIa-
ture 90 10.

what He Recon- nlenos the AeEtsta-
ture 20 DO.
NEW ORLEANS, Jan. 4.-The following
are the more important portions Of Gov.
KellOgg's message TO the Legislature: Since
the adjournment Of your predecessors, dis
astrOus crevasses in the levees have de-
strOyed the crops in several sections Of the
State and produced much suffering among
the people, which, however, has been great
ly mitigated by the beneyOlence Of citizens
Of other States, notably Of Massachusetts,,
and by the bounty which tie general gov
eminent has bestowed upon US with an
unsparing hand. Political disturbances Of
a grave and widespread character have also
seriously impaired the prosperity Of the
State and retarded its industries. Both
these causes have diminished the revenues
and prevented the close collection Of taxes.
Yet in the year that has just ended, the re-
ceipts have been nearly equal to the ex-
penses. The rate Of city taxation has been
largely reduced, and for the first time for
many wears not one dollar has been added
to the public debt, which, on the contrary,
has been sensibly reduced. Calling to
mind the unparalleled difficulties the State
government has had to encounter since
the frs day Of its Inauguration,
1 may be pardOned for referring
with pride to these financial results,
obtained under such adverse circumstances.
TIE rate Of taxation in the city Of New
Orleans in 1872, when the present State
government came into Office, was, State, in
Guiding schools, 23t mills, city 80 mills
tOtal 52l mills The rate Of the taxation
for the present year as reduced by meas
urcs passed by the last legislature, is, State,
including schools, IA mills, city p mills
total 395 mills; making a reduction Of tax
alton, city and State, effected under this
administration, Of II mills. As the rate
Of parish taxation is by law limited the
rate Of Stale taxation, and the rate
Of State taxation is now limited by
constitutional amendment to fourteen and
half mills, including schools, it follows
that in no parish Of the state, outside Of
ths Parish Of Orleans, no greater tax than
% mills can be levied in any year. In
previous years the State a'.d parish taxes in
some parishes Of the State, reached as high
as 9 mills.
The act adopted by the last Legislature
providing for the funding Of the State debt,
and the Constitutional amendments con-
nected herewith, which have since been
ratified by the people, form most important
feature in the financial history Of the State.
When the present State Government came
into Office, the public debt by previous
Democratic and Republican Legislatures,
was confessed TO be ont Of all proportion to
the resources Of the State, and the incOm-
ING administration had to face the alterna-
tive Of repudiatiOn or compromise with the
/ creditors Of the State. Believing that in
| discriminate repudiatiOn of obligations of
the State, whether justly or unjustiy in
CURED, would he dishonest to our creditors
and eventually disastrous to the State, we
sought first TO test through the courts the
/ validity Of such bonds as were popularity
believed to have been issued without ade-
ouate consideration, and then affect sucE
An adjustment Of the remaining valid
/ bonds as Wsuld be as fair as possible to
| OAR creditors and afford that relief which
was absolutely necessary to tba taxpayers
| of the State. It will not be forgotten bow
| carefully each step which led TO the passage
| of the funding bill was considered; Row
the advice of the Chamber OF Commerce
| and leading business men was asked and Oh
| tainad; and finally, how the State, anxious
| 10 nav its Just creditors TO the utmost limit
of It's capacity, fixed the rate Of funding at
| a pOint 10 per ceilt. higher than the limit
| which experienced financieTs who had ex-
| amiDed intOOur resources deemed the State
able 10 pay.
In connection with the funding bill,
/ recommended to the Legislature the adOp-
| ton of constitutional amendments limit
| ing the State debt to Sl5,000,O00; limiting
the rate of taxation for State purposes to
| l2E mills. exclusive Of schools; cOnfning
| the revenues of eaeh year to the expenses
of that wear, and prohibiting the issue OF
/ treasury warrants in excess Of the revenue.
These amendments were adopted. by the
| Legislature and were submitted to the peO-
ME at the recent election. It is a source OF
| sincere qualification to me to know that
though in the blind prejudice OF partisan
| warfare, the purposes Of these amendments
were grossly misrepresented and strong
| efforts were made 10 defeat them, the PeO-
| pie formally approved the hn2nclal Pouey
! of nv administration, and ratified each oi
the alnendmen's submitted to them Dy a
vote much larger than cast for either oi the
party tickets paced in the held. l beheVe
| the effect of these amendments on the nnah-
| eial future Ofthe State cannot be OtherW ise
than most beneficial The evil from WnleL
/ the greater DlfL OF Qlll ulAlttCAAsolN H'-1--
has sprung, namely, the issue Of warrants
wear bv year in excess If the revenue, 1;
thereby forever cut of. The debt and tax
alton are so limited and defined that wheI
peace is once more res Ored to us, capita
can find investment here without fear
oppressive taxation, and even our creditors
think. will eventually find in the create
security Of their new obligations, and tn
greater certainty of the prompt paymen
Of their iRterest-principal and -interes
alike, being secured under the solemn
euarantee Of the constitution Of the State
/ full compensation for the apparent loss ol
the face value Of their bonds. Previous Z
the ratification Of the funding law by 10
the people, a number Of creditors Of th
STATE aYailed themselves Of its provisions
and now that the bindit 6 force OF the la'
is placed beyond question, presume mos
Of lie other creditors will come forward Z
fund their bonds. A difficult and respor
sible duty will thus Be thrown upon IN
Funding Board. As at present constitute
that board consists Of the GQqernor' Lieu