The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-12-31

u 81. and unmasks e once how Il IL that 4 ric
Dtste Ike LQ1lsi4ne cannot pay her debt .whel
WV Se s cnr ,nsF n. sc ats and
than that. Without taking into Considerable
the land under cultivation. and the same irco noon
rssd Il nominal sa% p Or0Rs cS
The State statistics prove most unmistak abb,
the entire State outside Of fhe CITY IL insuffi
GENTLY assessed. Herein lies all our misery
ana the sole remedy for present troubles will b
f0und Ia the eduglIzatl0n OF assessments.
IN 1875 the Legislature passed law creatin,
state Board OF Assessors. which should asses
me entire property OF city and State once Ii
| the revenues Of the State would be consIdsrsbl
| Increased and taxation greatly reduced by th
simple process OF uniform assessment. Al
t!onal to tax higher than i4,s mills. but wher
subject to local influences and favoritism. prop
the assessment should be entrusted to a Stats
iDoaard: removed as much as possible from loca
lect only 70 an appeal to the courts. Takins
LnaI assessment as q basis the Legislator,
siata s t taxes 70 meet The
the payment OF the Interest on the funded debt
Tor y p as unwise to raise more money than Il
se a. Is Gscons "a M e I Ct a
real and personal property.
As the'law is carried out at present. the poll.
tax ri. u almost dead letter and persons owning
eyade the Law, and avoid paying their fair share
q taxation thereby increasing tho burden Of
ae,r fellow cs ctisensfor whatever one class Of
cast upon another class. tApplausel
We're the law passed In 1s75 brought into
districts and country towns coSd sasY and
with the utmost fairness. be raised to four times
what y is Ct present, while the city assessment
e. and this would BE- fairly disiributns H. b b9w
den Of taxation. which would then be reduced
ir 2hd tn nir e seven 2r eight mills.
amount funded no to the present moment does
tie now stands n rea laISsss ssso
to be collected should be si,o5o 900. to mset In.
terest on sl5 900, 900. to which figure the debt
may swell any day that Outstanding bonds are
fund. '1'o' 0o'
II the assessments were controlled and equal
i2ed by q board OF State assessors according to
the law passed for that object In the regular
session OF 1876. we could look forward to the
following result.
Assessment Of city real estate, reduced 40 per
cen. o. present assessment. s74.coo,ooo; assess
menu OF country parishes real estate, at about
their value. $500 .oooo 900. Total, ta74. 100000
funded debt reduce the levy to 3A mills; Il
would yield 81 400 0oo allow 25 per cent for non
seodac.ion sssoe25 net receipts for interest
The current expenses OF the State govern.
ment may be computed at 100000. which is an
mills. as levied at present. levy only sH mills on
lair assessment OF s374. 600 600: It would Yield
81 100000; deduct for non-collection from vari.
There would be- net receipt of sos2 600 to
meet the current expenditures OF the State and
no necessity for employees warrants to be sold
under par value.
In the foregoing figures no mention IL made
u the tax on personal property. for which the
aw provides. only. want to show that II we
NJ IN earnest regarding the honor Of the State
,y thS state OF Louisiana would be equal to
II proper estimate were made In town and
country on personal property. q large sum of
money could DC raised over and above my cal
The present tag of 10 mills could be reduced
2 ne less tnan mihs and yet raise more revenue
The gross revenue Of 1877 to be raised. II Il
ould be raised under the present lsxity. was
most certainly, 1t SO realizedl ut the sum OF
2. 719, 4l2-now deductirR rs per cent for nom
o!lection on the levy OF s2,6oe. a5l-it leaves a
tarts with deficit OF considerably more than
even hundred thousand dollars. which ac-
cunts for our insolvency. the n-payment
deprecated value. and not dollar to pay the
expenses OF the next session. which may be, |
q round numbers, $500 900. As TO the Fiscal |
lgent l suppose out of the first moneys he |
viii properly try to pay himself, from which |
act conclude there will be nothing left to pay |
nybody else. II even he Is able to get back the |
i'd advance Of s225 600,
To conclude: The various meetings OF the |
took Exchange, appointing committees to me-
nder through the streets seeking loans where.
y to pay the interest now falling DUE have |
nore the appearance OF q burlesque tlaughter] |
ban the action OF men awake to the gravity Of |
he situation; and the efforts Of the bulls and |
ears occasionally to revive and depress the |
market. lcheersl to take advat tage of ups
nd downs, may be sufficient for the purpose OF |
reatfnG q little gambling, la gentle hissl but |
re certainly not calculated to restore the credit
the State. which Is now languishlng under q
nsncial pressure.
beg the gentlemen Of the committee to un-
erstand that l have the highest appreciation
them as men Of high principles and honor.
ney nave undertaken difficult task. and have
ealously done the programme foreshadowed
18th their instructions.
All men Of financial knowledge, must admit
nat the whole difficulty lies In the inequality
assessments.
Let us hope that the time Is at hand when
)und system OF equal cation Of assessments.
y which We shall be able to levy taxes suffi-
ent to pay our interest. our judges. and all
ur other officials, and, though last not least,
upport respectfully the Charity Hospital; and
lat In future we will be spared the shame Of
our promises to pay the football OF
arondelet street. tAppause.l
On motion the meeting adjourned.
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