, 1875-06-11

Gov. Kellogg 72uitch n Sfntcntcuts
NEw ORLEANS. Juno 10.-Goy. ke!loEs lau
written to Chicago paper lcngsby letter IN
RESPONSE to MI editorial which appeared IN that
paper, in which Tho tlcb Of tlats State is sol down
Ut $50, 97.39l95. Ilc says: "Yous journal
having stated 60 prominontly what Tho doht OF
Louieiana il not, will you permit MO to state
what it really III: In Jannary. 1874. tho bonded
and floating dobt waB s2l a32, ,407.9o. Il lian
decreased by tho redemption Of 1879 phbt duo
bonds. 81: QUO; by she retirement Of ortsta.!l,
payment Of tho amount due the tlAcal agnnt,
$l.0sa, ,SC012; bv tho exchange Of :32, ,b93. 10 OF
consolidated bonls for E5i, ,32J OF old bonds,
s2l72o2e ey tue as enc'anse 81 4;3 Az q
of old rAtraats aud certificates Of ebtedncss,
S2sl,a47,6] Total reduction, s3,552, 727.G5;
leaving tho acsual debt Of tho State today
$2l, ,27a, Gsn.a5.
re4cntlng tic present debt ii 1.ortara appear
to 10 tnticp from Il ,opnrt prepared moro tlInn
two years hSo hy Il Mr.. Weymouth, n gentleman
without official Htaling, but afflicted Will! MI
incurablo Mhnla on tlio subject OF repud!atlon.
lilo prepared most lug,il,rious aualyHis Of the
condition and origin Of tho State dcbt for tho
uso OF tho Committee OF cttizons appointed by
t1o tn 1873. Yhia COMMITTEE lid mt accppt II,
print at the public expense. mud has Ut !ast H1c-
ceetlcd, tho Jnint Committee Of t'l1 Legislature,
appointed ut tile regular session last winter, to
e1asnino into tllo accotnss Ut the Auditor and
Troasurcr. having worry Allw|sely, % thluk, per-
n1ltted It to be added ~ an appendix to second
cdItun Of their report Issued since tho ADJOURN
n,ent of tho Legislature. / nm assured by tho
Chairman aud otlcr members Of thsa Committee
&hat there Nan no Intention 10 mako this pro-
eens,nont Of aLr. Weymouth pn1t Of Tho rca
ses,tr Of their report. \ glance 1t thu appendix
will SHOW 1t bus uok the tcnotcat conncctlo.
with tho sxsaslng Stato debt, hut ia eimply wl.nt
y pEotsssea % ts-a fcpotti nSt batots =
ess' os as aso psPAftaha the esmnec e. ot ssm.
1s' s1 xssgE seon3fa ii 3 sro IL ta : ssis"sf e.
thu contingent ltahtles Of tho Slate thoroin ro-
ferrri to. il they had any actual o1iptenco ~
1j13. whcu tint report waH prepared which In
1uuro than doubtful, iayo s'ico bcen buried for
over nudor sweeping tcreang act OF tito Log.
iataturo aud constitutional ameu1lnnnt so!ontl-
ly ratified by tho loople*
au explicitly that 50 597 sd. .o5 is tho amount Ut
t!,o Debt Of tho Stats Of Louisiana ~ 1t stood ut
tue commencement Of tho current calctnlAr
.ear. Hay daliberntely ard explicitly, aud With
Treasurer. and Fiscal Agent to bear mo o,ts
In my utaertlon, Tint tho Btate debt, including
oyerY outstanding bond. except tho old property
bank boils rcfelIed to- and nll outatanatuR War-
present tlrne hut SCI, ,279 GAoa5 aud TINT it will
cuntinue to l,b reduced Until It reaches tho limit
Of 4l5,tA0, ,0u0. On. annual interest Charge ia
el,059,W'v, aud That ta's ts llinited by Tho Con.
ssitution."
lle adda: "The funding bill adopted In 1874 IL
tn successful operation. 1t has boeu gonerally
accepted by our creditors at homo, and
have iuat rccelycd iron. tho counsel O!
foreign l,ondhullcrr. ul..,er date Of May 20,
1876, furlual notification tllst, whilst they 4tlll
condelun tho bil tbuy aro prepared to accept itu
provisions, being satisfied that tho principle o.
the bill l!as been aaopted by all clasaoa Of clti.
xrus. and now torluH part nf tho Constitution ol
tho State. We hayo funded already over
ed.oUu.0a0 Of obligations, aud hsxe more tl.x,,
55O0,0o0 III tho Treasury to tho credit
Of the interest fund. atiHroprosenta.
ton or tho condition of affairs in Loulsanu
nppcars to hayo bcco1no chronic With q larEt
nn1tton OF the press. but such glae
tux t,isHtAtements ~ these hnys
quoted may indeed iniure tho credit o
tho State abroad. may rctard:tho returning pros
purity Ut the people, mud may afford tilo puiti
c,ana OF othor Staten material for campaign use
but can el1ect no other resu|ts, fur oven tin
lnoat bi,tor opponents of tho lopIblIcAn part
hare know al'd nil admit tho utter salssty u III
aBnertlols ulade."