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

Comnanv. act No. 40 of 1871. l,s75,OOO
''. sct No Al Of ls7i......i..... 100000
New Orleans and Northeastern
Of is7i .".''............ l,2l2,5oo
Levee Company, act No. As OF ooo ooo
1873. .-.....'. A,0oo'oo'
Total contingent liabilities. .S2l, 900, 500
None of the bonds authorized by the
above acts we're issued, nor have any la
bilities been incurred by the State under any
| of these acts.
The debt of the State, actual and con-
tingent, was thus on the first OF January,
1873. SIG, lS3, 9O7 80. The whole OF the con-
tingent debt passed out of existence by the
adoption of the funding bill and the constl-
tutional amendments and the State was, IN
express terms, "prohibited from hereafter
modifying, novating or extending any
| contracts here tofOre made for the giving
of State aid in any form or under any pre-
text"
The amount of the actual interest bearing
bonded debt of the State on the first day OF
| January, 1874, and at the time OF the passage
of the funding act, was as follows: Bonded
debt. $22, 43O, 300; outstanding general fund
warrants, January 1, 1874, $l,79o,193 81;
total bonded and floating debt, January l,
1874, g., 222l ,553 80.
The bonded debt comprised twenty-tour
| series of bonds. and the annual interest
| thereon amounted to $l,493,35s, derived
from tax of eleven and half mills on the
dollar levied for that purpose.
The following tabular statements show
the condition of the bonded and floating
| debt, not including the bonds loaned to the
| Citizens Bank under act of 1886, which are
abundantly secured, and have never been
| classed as any portion of the State
debt. and the reductions effected each year
down to the present time:
CONDITION OF STATE DEBT JANUARY ,-lS.3.
Blight per cent bonds outst sndins s0'2oooo %
Seven and three tenths per cent oonds 400 ooo M
| Seven ner cent bonds outstanding. 500 600 90
80 nar csnt honda utsanding 80. SO 900 90
Total ho,ded S2I so, 500 90
Floating debt
oef, ness. =. .I sl5i1Os "a
Auditors warmnts..... 1887 1873 % :,
~ tsal .a1nt.. $50 900 90 1921 Co. go
10.JJ January i, Is73............s "a oss sO7 90
oo,prrIoS OF STATE DEBT JANUARY l. 1874.
Tnsl bonded debt January l. 1875. $ol SOL 300 90
decreased bv issue of bonds under act -
Ne. 1O8 OF 1869. 5s6,OUt w
1ncreas ed by issue of bonds under act
No 81 OF l07o... iz'ooo w
Total. .....................s22 ,soa, 800 90
Oo' Ix" mast ane hands 1000 90
Total bonded debt.............. e22 ,4So, 800 90
Floating debt-
Total floating debt jan
uary l. l6.3.......... 1921 ,t0l 80
Reduced by payment to
fiscal ageut...... lSo,ooo w
s2,l4l COZ go
Reduced by retiring
warrants .......... o'o,oo4 oo- i 'so' 20 ~
Total bonded ard floating debt
January l, 1874. $24,22l,553 80
CONDITION OF STATE DEBT JANUARY /, 1875.
Total bonded debt January L. 1874 s22, 300 90
Amount of 6ld bonds funded during -
l814................. .'..'.....'.. i,4oo 40 w
Total. s2I,o or, loo 20
Amount OF NV consolidated bonds is
sued for old b nds as above 942,2l0 90
Total. So, 1863, 800 90
s 1872 IA "a old v arrants funded, new
cOnsos issue' therefor lOa,t,4 Sb
Total amount of bonded debt, old and
new. January l..........'.......S l 9'8's9t 80
Floating Debt
Total amount of war
rants outstanding
January l, l874...... S1.7it,370 IS
Total amount Of war.
rams issued during
1874 for 1873. ......... 165. 487 II
Total. -. ...... sl,s8l857 %
Amount Of
warrants
i is7s -: ,,sIs9,7as
warrants
payment :. 81 26l 40 753, 986 "a
Amount of old and fund.
able warrants out.
standing. go. ....:. $lls7S71 So
Add amount of warrants
of 1874, itsG Il for
1874, outs tan, ing. 247,934 % l 357, 705 So
Total bonded and floating debt Jan
uary l. l87o ...................$ 23, $50, 800 81
CONDITION OF STATE DEBr JANUARY l, 1876.
Total bonded debt January l, 1875 s2I 97s ,e54 90
Amount of old bonds fulded during
lS15................ .............. 1904 400 10
Total. 6 IL ia $50 96
Amount OF new consolidated bonds
issued for old bonds funded. 500. 1882 $40 90
Total. ................ 49,. $l8 057 1874 96
1882 All IS of old warrants funded in
1875 in new bonds ................ 349 4a6 Is
Total. ..........s l9 4O6 68l 81
+ l04, AGO So past due coupons funded
in 1875 in new bonds ............. 5,762 81
Total amount of bonded debt s 49, AR 443 80
Floating debt
Total amount of warrants of 1874
January l, 1875. ..... 81 ,S15 705 81
Amount of warrants funi-
ed i'll 1875. $532, All IS
Amount of
warrants
tired by the
Treasurer . 2OlO26 70 1888 ,5o4 ST SOP pol SO
Total bonded and floating debt Jan.
udIy l, 1870 ply O6l b45 4?
1t will thus be seen that the present
bonded and floating debt of the State is
now January l, 1876 $l9,O6l ,645 %, and
that the debt of the State has been de-
creased during my administration $780,
9O8 O5.
RECEIPTS AND EypENDTTrREc