The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-07-02

"a, 100000 90

But these having been funded at GO
cents on the dollar there are,
therefore, outstanding against
the State only .-....... $4soo.Voo w
Against the original deficiency In
the levee revenues, made up by
the sale of the original bonds,
as we have just seen ........- 1859 800 IL
That is to say the State has actually received
value il the shape OF labor, material, interest
ETC.. expenditures for the levees to the extent OF
nearly $50 600 more than the debt against her
which the levee bonds. now represent 10 their
But one may say this work was charged for
at exorbitant rates per cubic yard, 49, 30 cal
culated IN the engineers report. and conse-
ceived by the state. Yes. / have often heard
the statement, and believed It too. until sub.
jected the mere assertion to the crucial test OF
Let us examine IT by this method now:
The total apparent amount and cost OF levee
inclusive, is shown by combination OF the
figures given In the report Of the Board Of state
Engineers fer 1916. page g4a ~ and those IN inc
DEMOCRAT Of June 8, 1879. to De
%, BIT cubic yards, apparently 49, -, ~
But. from this apparent cost must
i. Cost Of works DONE but for which
the cubic yards are not included
in the figures of the engineers
report. (See record In their Of
t1cs) ....--...... -..st $1,000 o4Iku4 w
q, Cost OF special work done In
stopping crevasses. but for which
also nd cubic yards are given IN
,he above we e report. tsee state % go d
Total to be deducted. .......-.... s72t,47s II
Leaving as the real cost Of the "a
396 377 cubic yards OF levees
built and repaired since the
war lU,tuo,415 oy
and giving an average cost during that, period
of about 47A cents per cubic yard. against an
average cost during the pastt two years Of about
211s cents. When however. we take into con-
sideration the, extraordinary, rates paid for
Iah v,utnr al md
period OF inflated values during which this
work was performed-for by tar the greatest
iis7s- and when We also bear In mind the extra
ordinary decline since then In values q every
description land q personal inyestigati9n as as.
| has been equally EXTRAORDINARY: think We
possess very little ground. indeed, upon which
a mere vague and general charge q exofD1lant
4 rates can Justly and substantially be main
| tanned.
Such, then, are the facts with relation to these
irrrefutebie logic Of figures proves that their
proceeds. to o greater amount than the eonsols
springing from them. we're actually used 10 the
perhaps, with the strictest economy, still not
with the dishonest and reckless prodigaltty 80
az eT asc ss s haory wbeb
Justice OF the process which attempted to ami
hilate every dollar Of them ~ their present
And vet Notwithstanding that the facts and
figures with reference to these bonds we're easy
Of access and comparatively simple, there have
been IRON the opening of the Convention. ard e.
men who have never hesitated to include them
In their usual unexc aptive denunciation OF the
whole debt as q frau, and an outrage. We're
they. are they acting In Aeod faith or not? would
perhaps be no unnatural query. but care not
1 to discuss the question, for from my personal
knowledge of many of them must unheslta-
tingly affirm their sincerity and love Of truth
and cannot therefore deny the same credence to
their c0-thinkers.
But. after oil, such is not the objective point
Of the present discussion. In the beginning 81
this article, formulated. as think. fair cri-
terion for their action with reference to one
been discussed only to illustrate its very prac
tice- and possible pplcatfon. The business
of the criterion cannot. am sure. be denied
that / prefer to leave 1t to themselves. to. aD
ply the test and draw the legttima,e DEDUCTIONS