The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-12-25
adjourned until Thursday at /
NEW ORLEANS. Dec. "a. 1878.

NEW ORLEANS, Dec. "a. 1878.
9entlemen Your committee Of fifteen have
the honor to submit the following report:
In order to accomplish with more facility
he purpose Indicated in your instructions. we
! have appointed subcommittee Of six OF our
members, who have conferred fully and freely
with the banks and the proper authorities,
and after expanding much time and labor
upon their mission, have embodied the result
Of their efforts In their letter addressed to us,
rs follows:
NEW ORLEANS Dec. 49, 1873.
Tothe committee Of fifteen appointed at general
meeting. etc.
Gentlemen Your sub-committae beg re-
spectfully to report that after diligently and
earnestly eDdeavOring to accomplish the oh
Ject Tor which 1t was appointed, viz: To find
bank which would be willing TO take tho
agency, under the law, and pay the January.
1873, coupon they regret to state that they
have received only ono direct proposition,
which was made by tho present Fiscal Agent,
and Is az follows: That in consideration Of
the sum Of Sl5D.O00 being deposited to serve
rs guarantee fund Tor any advance which
might be necessary, he would agree to pay
the January coupon and To return tho sum
deposited as above without intoresD rs 1t
was collected out Of the interest tax, and
after any advance beyond this sum Of
sl5O0o0, which the agency itself would have
been obliged to make to pay the January,
1879, coupon, should have been first repaid to
said Fiscal Agent
TH0s d. MILLER
II A. LESAssrEE,
THoa. II. HUNT,
VIM. g. G. CLAIBORNE in,
DUNCAN +. KENNER.
It's not within the province Of your com
mittee to decide upon this question of guar
antee fund Of Sl50,000 required by the Fiscal
Agent rs condition precedent" of his in
terventiOn for the honor Of the State on the
first Of January next. In effect IL Is an offer
" advance about ono third Of the requisite
$4,000 for tho payment Of the January, 1879,
coupon. Your better judgment and the ex
tensive interests involved will doubtless mark
out an appropriate course Of action in the
premises.
Several suggestions have been made to ,ls,
which we beg TO submit without comment on
our part. The recent visitation Of severe
epidemic. with tho total interruption Of bust
ness by quarantne. the low prices realized
for our products, and the surprising imper-
fectlons developed In the tax laws relating to
assessments, to the enforcement Of tho levy,
and particularly to the deferring Of the tax
collections until after the maturity OF the
obligations depending thereon for payment,
are referred to as CAUSES OF the unexpected
disorder which pervades the revenue from
the 81 mill tax for this year. The necessity
Of board Of equalization to adjust the assess
mentS throughout the State was also pressed
on our attention. 1t has been urged, In view
OF these and other considerations that the
just regard duo to tho rights Of tho bond
holders and respect for the good name Of the
State. would be- promoted by an accommoda-
tion whereby an extension Of time might be
secured for the State until the Governor and
the incoming Legislature can frame suitable
measures To protect tho important interests
now seriously jeopardized.
1t Is evident. however that tho power to
render thesa suggestions efIlcacious and
thereby better the situation resides solely In
the law-making branch of the government,
which must apply the remedy.
THos D. MILLER,
III. A. LESAssIER,
JAMES |. DAY,
THOs II. HUNT,
DUNCAN i. KEENER,
ADOLPH SCHREIHER,
VIM. &. g. claiborne, JR,
OSCAR J. FORsTALB.
J. l.. GAUTIER,
JNO. q. DEvEBEUx.
w. II. LYMAN,
VOR MEYER