, 1875-01-05

tsAs1on bJ tha ts4ue Of fs'n'ta authorized by acts
q tlo t'ew orIe.nr. Moils Te1aa ia,iroad on
.tction u z miles of completed railway {act No b.
.stioad Company [act No. ios IT 1sfs
| s5,S.uGl-111n 90. Total, III, ,tA4o7ao.
!he tEaIe If tho 1astnaned bouts waa rendered
obligatory urn Iuc by decision Uf the HupFcu,s
Court Of sf1e state.
7hE Boaprp AND rEotT1xa DEBT
Las been decreased under the Administration
- followa: ltetlacton ,'le doit y rcJe,nptl ID
o. past dis oihH. Sloh'Mi: ly exr1rgn Of tsi222o
lr. t,sl,iso: reduction Of tho aoasng .st by tbs
rere'nen II old outstanding warrants, lcing II 1sy-
men!, f.aM b'ck sc. 900 y exehaars under te
q consoadste' bonds, s7ba9 III. Tni,l reduction Of
dett under thu pset't Administration, ,u, 563.s5.
TItE Khrg or TAsArIoS
n the City Of Srw Orrsnu iii 1B73 when thc rreseat
sata uoTs11natit cxn'e into o!Icr, State, in-
G;. 5,;tns @11fs'f e. t;,t ~ s e,; " n.
ysas ~ reduced BY measures PASSED Ly tho a.t L.tH-
:t;sr !. h: iie a,s'a<ltSg 'r'looE ia ail.; city
t;n', TX snd :,,a:e, t!ns.*a 'inlrr 4 Airninr:f4,
fioo, Of Il ,ai1l': A the rata of rsr. t.xa, ia iy
IF State taxation IA nor limited Iy constitutional
snsnlmcnt 10 ~ iai'ip. lnrl'lnr schoo's, II fYovs
9sltanF. cen heavier taxation than - mills ts ovted
| ii. il Frsvisn. e a!.. ,..rs tho st..e .n4 parish
the 4: iea:Isturs. traviinr for tho funding
Of the State d.bt. and ,he constitutional a1oeudnsens
connected thcrtwitN, which haa ttnss Leen rGcl by
te lcolae, tursu triIertaa. fea:uro In c tai-
erumen catne .nto orica luz rulIe dsIt cu,trnc.ed
by rresiouH Dcnscr"tc and Espunltrsu Lcg1a1tus..,
~aa ctte$seilS ~: Of til proportion tn the rEsourccs
ol iha stste. aud TIT incoming Administration hal to
f4e I'll. alternative ii Repatriation or coipuu,ise win
the creditors nf Tho State eje7ipa that l,scriin.:
Justly Or unus:Is tncarrea would be d,.hr]t +, our
creditors, aad eventually disastrous t, .hs st.te tve
tu: uou's an were roaalar,5 believed 10 have teen
1ss1ed without adequate g0!Iki1vratt,a an. then n
chets Gu-h NJ adjustment Of Tho remaining valid
bonds - would b. far poesihlo crt..tprs,
md alnsI that Tessef which also:u.eiy nnscs4ary
70 thu tax-syer of too Hte 1t viii !,e forgotten
Aow carefully carh step which led TO the ,ars 4fs u
TIE Fr:iD:*u EtfI.
Eaa considered; lnw III. l.ssrn IT thu Chamber of
Commerce md 1er.iins l'u.iness1sna asked and
obtained and, finally, hoH tho atr anSto* TAy itn
jus creditors to the utu~: limit Of ,ts csity ircd
the rate Of tunding 1t Tet 10 per ennshigtsr ,aan
iued into our rtaourccn sleer thr >s,t n1,c psy.
Ia tim with tie Funding bir reroaltncn'l Il
::rr.cl Limiting tho SITE det to s,s n
| it'ug Ia" rate. "f taxation for e.ate purpos-
enta9 - ~. ~ s etcsiFe of scaoosa eou.
oi ih.' year an l:o1 ::, the i=euc Of Tr-a.urer's
WARRANTS in c:rsas oi the rFsrn"e These amendments
to the l''ar Al :io rccc:.t ties,l. II Is seurre Il
snSc1s qualification to 10 k.:u ,l1: though in .e
b''n Eej:i,ce .: ari:a warfare, tie ators and pur-
r ND EtronS Efforts inade to ds'c1 tirt, tic peo1io
1.on xg1s' III t. nsns', o:y ut ~ aa.,
nsnt. .ub1n:ttei 70 t!iea. l1 y.e III, il
srs1t ,c, tA:u n, ts,t j. g.. e. c., r eSs: It 9t s
of thcse amendments On tho financial future If ti,e
aato c"Enn: he otherwise llsn ,ll.s braefcia the
raae stl:. debt ha. sprung, namely: the te.ac Ut war
rsatr by yesr In Of tho rercuue-fa thereby
Eild dcsueI t1t, wltu peace Is rfftored
| n', CAPITAL raN ind uvratmcut heyo without fear al
oppressive ;a1stloa. snd s'eu onr creditors. th:nE
viii ey,.ttat!7 isd u tbs erea4er security Of tAur
ucw obligations. and tho greater certainty OF Iro'nft
1ay1Ient Of THAR iuiere.t.--rrincilai and inter
- alike icing secured uudor the solemn
guarantee, Of .bo Consultation Of tho State
,,"rsn1.afion .i fer It'll the apra.ens lp.' 90 tue
creditors u the Stale araled tla1nsclyv. Ut is 1ro-
vicons, and, n.w th.t the binding force Of i.w Is
creditors will to'ne forward to funI their bo4's. 4
tAlcu. and rc.fousin,e duty will thus hs thrown n-
on tho Funding Darl. As At rrrse constituted that
Doarl consists q tie GoysrA1r ACKNOWLEDGEMENTS,
Secretary ri S:a:r Treasurer iitor, Sleaier at
isea' assnt lta 1Eera.ian, .Au. fsr hase 'ee -,
MY lsrscF tE,ouat ef funding: un';l tho rt,'i.
Nov that Tho number ci Iond. : p prs. :.
rented for fuE3tns Il kcly 70 b. Increased, tLtuk
It seeiuB to me rt, for naany Fc:spus tint the Fua-
Ing i,oSrd satul.i not bo courHcd Of staa uthrcrs,
sbs intefsss ii tas b,hncs, ccanunty thc 1n,sals.
elected lreStlents q She Ch4ibe7 Of Commerce, the
Ca:t +n-Ett!a.use. and afcschantB Ezrnange, IT Sr~
Orleans, c1-ait.a together with r:tizons OF known
stand.n. to Re se,rsed y theta. might very properly
to constituted the hoard. 1carnesty commend this
subject to your early consideration. Is ono of great
| imps1s.auro u The cressi: IT the State.
further roconn'cad that To funding Of the def's
snsh ,nl,cr az vii en7i II lie m ess Of p sats and
al ia1p=ycrs and Creditors Of tho Sate 10 rcsBt tho
fnnin{ ct sy !lo a es;tences ef dest ty adauc:ng
evideAre to eat.ll:el their invalid chsFs ctcr.
| NEW Nll.EAs3 FINANCES.
Soxt in urgency tie condition Of State finances.
the eh ERASED sn crippled position Of the ct.y of
tfttfit Tha ftrff
tra.i9n of city 4iars, ..ed ty unwi.s legislative
fnancsmeuts, Is great that tho hnuual tax
Iulrtl to lep up tLs iu, rest Iaymcas has BECOME
almost insu'ferab1n Luldcn 1n the property Of large
clasa n{ worthy, iI.ahiuuE citizens, who endc2vor
pay their ta1si when due and tn uther ritz
zens Ecueraaiy Ut Eratr me.ns auA lexs ro6pect for
us of a M a v ra
aoans aud l.apds1 DEL: Ia. thus Increased year "
yc:E with Ecce'eratns r4ld'sy. With view Of check
Ing this alarnus tcu!eley submitted to the lust
Legislature constitutional amendment, arrrnsud by
the Chamber ot Commerce aud shc then CITY conuke
prohibiting the further increase Of tAe city deb. in any
form or Hnder any pras1s, and lror1'i!nF, under
n ' .er ,po ~ s sb. Gs
he issued By any officer of ths city except against
cash nctua!y in tbs Treasury. This amcnamtn. nas
late election On the sano unreasontng principles aa II
other salutnry measures Of thta Standardization,
Eathed BY ths reols and now fors part Of the Coz
| OTHER RECOMMENDATIONS.
l!o rccomnendh largo number Of measures,
| and alas
canno. Too rers.sently urge yougeaetnen Of ts1s
!satues. tile grcat i,a!r.ucs Of i. on:s carrying
int" erct thr reforms an! re,lnctohs uf Iu'lit
Icaituro which have iAdieatet ami otilrrs wlsl!
viii DOUBTLESS suggest he1psrYes tu you We have araed
down stutu .lebt to point which will tnahis VI,
BY ecaneuy. sArf., aud sool management s1 Nsct our
interest promptly, anl ateay ar}re:isr or bonds
We 1t tn our Gro tnrs, anil II ti:.rlSe:. :" lo
administer otr nLatE:I ~ tn srena tn tt', As'lftH
uf our bo',ls shJ {r liltl enhancement ts tho h-ti
credit aud 10 ax.Isycrs aud Icplr tu'leEAly that
rnlitf fc0n Oppressive burdens whrn vii! inrea+e tho
prosperity OF State aud bring csuar1;!a aud ZAP
iIai once w1ain our lorrts a*stn yola that
any ws-runBiere1 licaAuteS yuu may l!5f. l4YinH III
view tho further reduction Gf Halu IND rtF czpc1!d
srrcs, urd tho further reduction II tasatiun, will
! promptly rsr..ya tli' Executive approval.
| INTERNAL L4|LEsaaE5s.
| In conclusion Gov. keslnyg snys; s.
| Yum rEu Ira: te unswarh that throughout !atgs
rerti;a pt t!:p SlAn condition of anarchy and yio-
i len'u has !rss prevailed for solc time Iaat
that tho ,ws tl4ss san ai.rnB !7letl, bal ms Dr.a
eI4e, ai t!;r tttp! authuritea hayD be.u Ills
rJased by {ufre Iu tls interest uf our whye re,.a