The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-10-06
PROPERTY HOLDERS UNION.

The regular weekly meeting Of the Contra
Committee Property Holders Union was he'll
last night, President Archibald Mitchell il
the chair, and quorum present.
President Mitchell, after the opening pre-
liminaries, said that under resolution adopted
at the last meeting the majority and minority
report of the Committee on City Debt cam'
up first for consideration and discussion.
Both reports in response to calls were read
The majority report recommended the in
dorsement of the Premium Bond Plan as
presented by Administrator Pilsbury to ths
Council, and approved by that body, and the
minority report recommended the funding Of
all bonds at their market value.
After considerable discussion and after q
number of substitutes had been offered and
disposed of, the discussion conferred on the
following preambles and resolutions offered
by Mr.. B. r. Forman:
Whereas, the great object end and aim of
the Property Holders Union is to effect per-
ms n ,nt reduction of the rate and amount 1
taxation, for all purposes, to one and ono
half per cent, of which one per cent sha be
for the city and half of one per cent for the
State, on the actual cash value of property;
and
Whereas, this reduction is absolutely ne
cessary for the security and protection of
property, as we'll as for the safety and Sc
public honestly and legitimately owe to the
creditors of the State and city; and
Whereas, the Premium Bond Plan proposed
by Administrator Pilsbury SO far as it pro-
misses to effect reduction of taxation is to be
warmly approved and in SO far as it proposes
to adopt lottery plan for retiring the dobt is
to be regretted; and
Whereas, both the plausible one proposed
by Administrator Pilsbury and advocated by
the MAJ ority report of the Committee on City
debt as well as the plan recommended by
the minority of said committee, both recon-
mended the funding of the whole of the out
standing bonds and certificates of indebted
ness of the city, without reference to or an
investigation of the legality or honesty of the
same or any portion thereof,
Resolued, That this Central Committee OF
the Property Holders Union do not deem it
incumbent on them to advocate or oppose
either plan of managing the city debt as an
ultimatum.
RESOLVED, That the present city administra-
ton is warmly commended in SO far as it has
reduced the expenses of the city government
and its efforts to relieve the people in some
measure of the intolerable burdens resting on
them.
RESOLVED, That we will warmly support the
Mayor and Adminissrator in all Efforts to re-
duce taxation.
Resolued, That in view of the great poverty
of the people and their total inability to pay
the present exorbitant taxation, and in view
of the fact tina. its continued exaction will i'm
poverish and beggar many worthy citizens
and destroy the vaiue Of property, and with
the destruction of property destroy the value
OF all city bonds and securities, we call upon
the Mayor and Administrators as the repre-
of the people, to suspend the levy
ing and collection of all interest taxes until
property can somewhat recover and the debt
can be thoroughly investigated, and the dis
honest and illegal eliminated, and plan for
providing for the honest debt, at greatly
reduced rate of interest, be matured and re-
ceive legislative sanction.
Resolved, That in view of the fact the po-
lice are used as standing army in times of
peace to sustain a despotism, and are them
selves the frequent and constant disturbers of
the peaoe, endangering the lives of peacea-
BILE citizens in view of the fast that the
schools aresprostituted to the basest personal
md partisan purposes by an immoral and in
competent School Board, and in view of the
act that the City Park is a COW pasture and
he park tax an unmitigated robbery, this
Council demand of the Mayor and Adminis-
rators to stand between the people and their
,ppressors and to refuse to assess or collect
my of these taxes that if they will pursue
his course we pledge to them all the assist
'nce and support in our power, and we are
Issured that, if necessary, they can to these
'nds command the armed support of every
voluntary organization in the city and the
ternal gratitude of our people.
j. D. Hill, Esq, after thorough exposi-
ion of the question, off sred a resolution ap-
proving the action of the City Administra-
ion in adopting MIR. Pilsbury's plan, and re-
Iuesting that the new premium bonds speci,
y the class of bonds for which they were
ssued.
After protracted debate the whole subject
vas postponed until Tuesday evening next
or further discussion, and the meeting ad-