New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1876-01-05

formed, and that tho. Governor would in
Que time submit his communications.
senator Burch, chairman of the commit
tee to wait upon the House of Representa-
tlvee, announced that duty performed.
On motion of Senator Young the Senate
then took recess until l:3O p. M.
The hour of'recess having expired. on a
call of the roll the following Senators an
swered to their names:
Present-Messrs. Anderson, Allan, Black
burn, Breaux, Burch, Chadbourn, Dumont,
EustIs, George, Ola, Goode, Grover, Har-
per, Kelly, kelsO, Landry, Ogden. Robert
son, Stamps, Steven, Twitchell, Wharton,
White, Whitney, Young-25.
Absent-Messrs. Alexander, Brewster,
Blunt, Cage, Detiege, Greene, Herwig,
Masicot, Pollard, Sypher, Weber-1l.
Twenty five and quorum present
The following message from the Gov.
ernor was then read.
STATE OF LOUISIANA
Executive Department, 7
New Orleans, January 3, 1867
Gentlemen of the General Assembly of the State
of Louisiana:
In compliance with the requirement of
the constitution of the State, which pro-
vides that the Governor shall give to the
General Assembly such information and
recommend to their consideration such
measures as may be deemed expedient,
transmit to you this, my fourth annual
message.
l congratulate you that, with the ex-
ception of two or three parishes, which
OF rhoA Inv oil
causee, peace and good order prevail within
our limits. Providence has rewarded the
industry Of the laborer with abundant
crops. The imports Of our chief city have
not materially decreased, and our exports
thus far show q considerable increase. Our
agricultural resources have been enlarged
and developed. We have suffered from the
financial stringency and depression OF
trade, from which no State in the Union
has been exempt; but with a continuance
of tranquility and public order, such as l
| trust will hereafter prevail, we may hope
fully anticipate an early revival of pros
perity in all branches of trade, commerce
and agricultural industry.
am the more encouraged to look forward
with sanguine expectation to the immediate
| future, because We are now on the thresh-
old of the full fruitiOn of those financial re-
| forms which, at the last election, by the
unquestioned vote of . majority OF the
people. were engratted on the constitution
| of the State The benefits already derived
| from these reforms in their hitherto partial
operation have been SO manifest that we
are justified in expecting greater beneficial
results now that their full influence is about
to be made apparent. l am constrained
to think that the magnitude and impor-
lance of these amendments are even yet
imperfectly understood by many of our
citizene and that they are still more imper-
fectly appreciated abroad, where ex-
aggerated statements of the financial en-
barrassments of the State are yet circu-
lated and believed. By the operation OF
these amendments the debt of the State ls
reduced, with the active concurrence, if not
with the voluntary consent, of our creditors,
to a point admittedly within the power OF
the State to meet, principal and interest, at
maturity. During the whole term Of forty
wears over which the new bonds run the
debt can not DO increased beyond the
point to which it has thus been limited. The
appalling load of contingent debt, over
S2l, 100000 in amount, never actually in
Cured, but standing on the statute
books a constant source Of danger
and uncertainty, has been buried
beyond resurrection. The interest appro-
priation on our new debt is made perpetual
until the extinguishment of the debt itself
shall have been accomplished. Both prln-
| cipal and interest are guaranteed by the
constitution. No power can hereafter tam
DER with the credit of the State. The rate
| of taxation is limited. The Legislature
restricted in it's expenditures to the revep'es
which that rate of taxation will yield anu
the revenues of each year are to be 'e'oteu
exclusively to the expenses Of Na' year.
All appropriations in excess of eVenue arc
rendered absolutely null and 'oid. Hence
forth there can nevermore 10 q floating dept
in Louisiana. The issue ostreasury warrants
in excess of revenue r.s been the financial
hane Of the State. u the four years OF my
,rodooassor,s odmaistratlon warrants were
issued in excess of revenue to the amount
Of over A $50. 30. The Legislature of 1866
g. approprised sl3,ooo,ooo over receipts
No small or portion ofthe existing debt has
been msd,up from these sources. In future
r,aa- -, full operation of the funding law
o,a - constitutional amendments the
onnr priations must be kept strictly within
-. limits of the revenue; all other wise
,..de will be void. The actual amount OF
he debt of the State will be hereafter
fixed quantity, which can at any moment
be automatically stated and proven. In
addition to these State reforms, the City
Council of New Orleans have been prohlb'
tied, also by constitutional amendment,
from issuing further bonds or any evidence
of Indebtedness except against cash actu-
ally in the treasury.
These are some of the features OF the
financial policy of my administration which
with the new year 60 into full force. From
this time onward no Legislature can increase
the debt of the State or suspend the pay
ment of the interest. No future city govern
ment of New Orleans can add one dollar to
the debt which the property hold
ers of the city are now compelled
to bear. >These restrictions OF them
selves, l am confident, will 90 Tar
toward restoring the State to the financial
position it ought to hold. When they are
regarded in connection with the reduction
of taxation already effected. the further