New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1875-04-17

7, APRIL II, 1875. E
exceed the amount now levied for Stat
purposes alone. namely; fourteen aid ha
mills With the constitutional amendmer
strictly enforced which provides that th
expenditures for general purposes shall b
general fund tax. with State and paris
taxation reduced as indicated, with assess
| ments equalized throughout the State, an
with the enhanced value Of property whic
that hereafter the burden Of taxation vii
be one which the people can easily an
cheerfully bear. Under. such q course Q
| financial management the warrants of tn
State should quickly reach par, or nearl!
so. This would still further reduce tn
expenses of the government, as the State ha
been obliged, in consequence of the depre
citation of its paper, to make much large
appropriations for its charitable institu
tons and its other beneficiaI les than wouli
be necessary were the State able to pay it,
appropriations in cash. The salaries O.
State officers might then be justly re
duced. II paid in money it is believed
these officers would be contented and
better remunerated by salaries more nearly
approaching the rates of compensation
paid in Northern States for similar ser
vices than if paid as now in war
rants of fuctuating and deprecated
value. In view Of this, the salaries OF
officers where fixed by law should be ap-
propristely diminished, and, where they
are fixed by the constitution. at the next
regular session an ame ndment should be
introduced reducing the salaries of State
officers to s.rate more in accordance with
the policy of strict economy which must
hereafter be pursued.
THB FUNDING LAW AND CONSTITUTIONAL
AMENDMENTS.
The future of the State when once these
measures are secured, and harmony and
peace are restored, seems to me bright with
promise. Every day makes more clearly
manifest the beneficial influence which the
amendments, adopted at the
recent election, are certain to exert upon
tho financial condition of the State. By
these enactments neither State nor parish
can ever levy more than fourteen and half
mills tax in any one year, except for school
purposes, and no Legislature, however ex-
travagant or corrupt, car expend more
than the amount which the tax thus limited
will yield. The revenues Of each year are
devoted to the expenditures of that year.
and all appropriations in excess of revenue
are absolutely null and void. The importance
'f this provision can not be overstated. In
1865, 1866 and 1867 the excess of expendi. |
lures over revenues was very great. In
1869 and 1870 the total receipts on
recount of the general fund were
80, 800 ,59S; the total expenditures were
'4,S7S,5l5, leaving floating debt of 81, $685..
IL to be taken up out of the revenues of
ucceeding years or to be added to the
'"hded debt Of the State. In 1871 and 1877,
he last two years of my predecessor, the
otal receipts on the same account
we're $2,952, 43i; the total expendi.
ures were $5,595, 6'i. leaving for these
wo years an additional floating debt
f $26l3,so3 to be provided for in a similar
manner. In 1878 and 1874, the first |
wo years of my administration, the |
otal receipts were .S3,2l4.47S, and
he total expenditures $399, Sian
xcess of expenditures over revenue of |
1908. For the current year and for |
IL time hereafter under the provisions
the constitutional amendment to which |
have referred. there can be no valid |
preparations made in excess of revenues.
nd consequently not one dollar can be
dded to the public debt either directly or
directly by this means. Thus one
the principal sources from which the
spid increase of the State debt since the
ar has arisen is effectually cut off. still
'rther safeguard is imposed by the funding
W and the constitutional amendment
'tfying its provisions, namely, that as fast
the public debt is reduced the point to
hich 1t. is thus reduced shall be the
limit of the debt, and this
lie is to continue in force until the entire
ebt OF the State has beer reduced to fifteen
illions, beyond which point it is provided
lat is shall not be increased
In urging the adoption of these amend
ents upon the Legislature and upon the
'ople l was fully aware they would meet
it'll determined opposition from interested
rites both at homo and abroad, and that
@ very existence of the State government
light perhaps be imperiled in the effort to
cure their passage. But after taking
unset with some of the ablest and most
perienced fnanciers was convinced that
Q policy embodied in the funding law and |
9 constitutional amendments was the |
~ way to avert actual reputation; and,
rther, taking into account all the cOnstlt- ,
mt elements Obthe body polite and the
evailing tendency to extravagant legisla-
n, it was felt that an amendment Of this ,
ture (which does not exist in any other
ate, and which perhaps could not
We been secured in this State but for our
ira ordinary surroundings during the
st few years., would be an effectual bar
extravagant legislation, growing out of :.
orance and inexperience on the one hand
intelligence and dishonesty on the
Or. The people indorsed these views
the late election, and now that the
actical working of the system has been Il
ted l am gratfied to know that the I
rec which has been taken ia generally Ii
arded as the only one which the State q
Id have pursued with justice to herself IL
to her creditors p
here are some notifications. however,