|
Description and Holding Information
|
|
House. Comm. of Ways and Means. Report on New Orleans' debts, 1868
|
|
SEE ALSO 43527 Report on the debts and finances of the City of New Orleans, by the Committee on Ways and Means, of the Louisiana House of Representatives. August. 1868 New Orleans : A.L. Lee, 1868. The Committee reviewed several bills on the subject and obtained data showing a City debt of about $14,000,000. There were three primary classes of debt. Consolidated debt bonds were originally issued by the General Assembly in 1852, with an interest of 6%. The City levied an annual tax to cover the interest. The pages defined and discussed these bonds. The Committee decided it was too late to discuss the ethics of the bonds. Railroad debt began in 1854 with $2,000,000 worth of twenty year bonds. There was a history of various issues for three railroads. City notes were the last group of debt. Beginning in 1861, the City issued notes for $1, $2, and $3, plus fractional dollar amounts. The Committee discussed several ordinances related to the notes. In 1864, tax collection was inadequate to fund the budget, so the City printed more money. Beginning in 1866, it started trying to retire the notes. The Committee thought there could have been fraud in the process--maybe not great fraud, but fraud. There were statements from various Treasury employees and tables of information. On p. 19, the Committee concluded that the debt should be acknowledged, means arranged for payment, and the paper money system entirely and forever abandoned.
|
|
Title:
Report on the debts and finances of the city of New Orleans, by the Committee of Ways and Means of the Louisiana House of Representatives.
|
|
OCLC Number:
1354831903
|
|
|
|
Available Volumes
|
|
Name | Fiche Count | Online | Paper Backup |
Vol. 1 | | Yes | No |
|
|
|