The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-01-11

the abstraction from his Office OF the s1ana-
ard weights and measures, provided for UNI
| der existing laws, which calls for replace
ment Thereof, proper appropriation on your
part being necessary to that end.
FINANCE.
| The reports of the Auditor and Treasurer,
| not having been submitted it is impossible
for me to state with certainty the fiscal oper-
ations OF the government during the past
year. shall not, therefore, attempt to do so.
However, from the information which has
been conveyed to me, it seems that the belief
may be justly entertained that all the war
rants issued for the year 1877 will be paid
from the collections made during the year.
The value of warrants for 1877 has ranged
| from fifty-five cents in March to ninety-nine
seven-eights in December, and finally par,
which Is q marked improvement over former
years. This fact Is largely due to the reduce
ton of expenses and of the aggregate OF ap-
preparations made by you at your last ses-
sion and is an indication of what may be an
| ticipated from like course in the future.
The bonded debt Is stated fully in the report
of the Board of Liqudators, which has been
duly made. BY it you will see that the total
| tbb1'DDA'o|N'
standing consols and fundable certificates is
sued at par in lieu Of fractional parts OF bonds
| is $t1, 279, 7SO sc; amount of outstanding old
bonds, January /, 1878, $685. 800; sixty per cent
of which is $3g2,2s0; amount of general fund
warrants outstanding, according to Kellogg
statement of May 81, 1876, $18S,72O %; sixty
per cent Of which is $113,232 55; making
total of consolidated Understanding debt,
when funding shall have been completed, of
$11, 7S5, 1913 q.
Which does not include unpaid interest
coupons due January, 1874, and prior, and
outstanding interest warrants, amounting,
in all, to about one hundred thousand dollars.
| Nor does 1t include the bonds commonly
known as the Property Bank Bonds, which
the Board Of Liquidation, as will be seen by
their report, have decided to be not properly
fundable.
There are a certain number of interest cou-
pons, matured in past years, which are I'M
paid. The amount thereof | am not able, for
the reasons above given, to state with pre-
| cision.
| These coupons were not paid, owing to the
insufficient collection of revenue for those
years, and are necessarily claim against
the uncollected interest tax for such years,
which, as 1t is collected, is applied to their
extinction.
| Could they be constitutionally funded into
consols and thus retired, it would be a meas
ure of wisdom; but this, it seems, under the
constitution, is impossible, and they must
therefore be provided for in some other way
| The assessment for the year will be between
$4,000, 900 and $18OOOO,O00. The interest on
the consolidated bonds is to be paid from
| levy of five and one-half mills on that amount
| In consequence of the abstraction of the
books from the Auditors Office 1t becomes inn
possible to learn the amount Of what is known
as the floating debt, andGh first step to be
taken ON the subject is to ascertain it's Mount,
| character and classification.
would suggest the appointment Of a com
| mission composed of State officers, or to be se-
| lected from your own body, before whom the
holders of any claim Of that nature should be
directed within reasonable time to present
or examination such claim, under penalty of
| being barred.
| That the commission be directed to take
| the description of the claims to be presented,
and to classify them with reference to the con-
stitutional provision, limiting the expendi-
| lures to the revenues.
No power to audit need or should be con-
ferred, but the duty of reporting should be
confined to the next General Assembly Pend
ing the report of this commission, some dis
position for the legal as against the Illegal
claims should be enacted to prevent the i'm
proper absorption by illegal to the prejudice
of legal claims of the revenue collected in the
4 f,r all
ing debt is said to be in existence
The successful administration of public
affairs being so materially dependent on
| lust assessment and wise mode of collection
| of the revenue, as well as upon the enforce
ment of strict economy, the laws leading to
this end should be carefully reviewed. l am
satisfied that the State has not availed her.
| self Of all the instrunsentalities Of taxation
which lie within her reach, nor has the sys-
| tenn for the enforcement Of revenue collection
| been as adequately provided for as should be.
| There are objects of taxation not included
| under present laws; this should be remedied.
There ought to be no more privileged prop
erty than there ought to be privileged classes.
| In one Of our sister States a system of taxa
| ton upon Che sale Of alcoholic and malt
liquors has been inaugurated as commonly
| reported with marked success. This system
may possibly be the source Of adding to the
revenues of the State and thus eventually
| Tightening the burdens Of direct taxation.
Should it be determined on, the legislation
| for it's enactment should be framed with
great care to avoid constitutional objections,
and in considering these questions the extent
and effect of the police powers of the State
over its subjects is to be taken in view.
| am of the opinion that if such law be
passed, any revenue to result would have to
be primarily passed to the credit Of the gen
eral fund, leaving the surplus to be applied
to the reduction of the public debt under the
constitution. In this connection | am OF
opinion that the surplus to the credit Of the
general fund is constitutionally applicable,
and should be applied this year.