The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-01-04


showing a saving in expenditures of SO, $685.
553 "a, as compared with the last three year,
Of the previous administration.
The outstanding certificates of Indebtedness
issued by Auditors Wickliffe and Graham,
amounting to Sl0l $3.50 81. are not fundabe.
The outstanding constitutional warrants is.
sued prior to January l, 1874. amounting tc
$S5, ass O7, are not fundable, but will be alb
sorbed by the delinquent taxes of that year.
The outstanding warrants of 1876, not funda.
ble and which will be absorbed by the delin.
-quent taxes Of previous years, amount To
$242, 442 OF. Leaving the present floating
indebtedness fundabe, $l62. 634 r. of which
$94, 900 are known as Weed warrants, and
have been rejected by the Funding Board
Should every dollar of old outstanding
bonds of the State and all outstanding fund
able warrants be funded, the consolidated
debt of the State would amount to but $14,-
OILS, 1872 81. This is the highest point that
the debt Of the State can reach in any con-
tingency until 1914, or until the consolidated
debt Is fully paid. Should any of the out
standing bonds be declared invalid by the
courts, the consoi dated debt will be propor-
tionately reduced.
The consolidated bonds hav. Of late rapid
~ advanced in value, and it is believed that
when their nature is better known 10 the
financial world, they will appreciate to par.
The ability OF the State to pay the interest on
these bonds is already placed beyond any con-
tingency.
MAINTENANCE AND CONTROL OF THE LEvEEs.
The message argues IN favor of national
control Of the levees, and says:
In 1871, resolution passed the United
States Senate authorizing the appointment of
Committee on Lsvees, of which l had the
honor Of being Chairman. The reports made
hv m n,,ft an 1ivrv <ha &
Federal supervision over the levees OF the
Mississippi developed the fact, that though
appropriations for works of minor importance
were readily agreed to, there was most for
midabfe opposition to the theory that the Ma
tional Government should assume charge of
the Mississippi levees The estimated ex.
penditure, amounting to some $50, 600, 900,
was an objection which had great influence
Consequently. the efforts to secure aid for the
levees OF the Mississippi River failed for the
time.
Indications that have recently been given
by the present Congress on the subject OF
subsidies and national aid to works of inter-
nal improvement, seem to render almost
hopeless the expectation of any general meas
ure of relief being adopted by them during
the present term. Hoping, however. that it
may have favorable influence, recommend
that your body pass joint resolution urging
Congress 20 assume control of the levees as
national undertaking, and that you also in
woke the cooperation of the Legislatures Of
other States, whose interests are similarly
affected with our own.
have always been Of opinion that the diff
ficulties which the advocates of nstionalizlng
the levees of the Mississippi have encoun-
tered, would be immensely lessened ii. instead
If asking Congress TO assume. 1T one step, |
iabiliv les which are estimated to amount 10
$50, OOO, 900, and which may possibly exceed
hat sum, an attempt were made to induce
Congress to appropriate each year, in detail,
or specific works Of urgent necessity, IN the
anne way as appropriations are made tor
rivers and improving harbols.