USA > Louisiana > Louisiana; comprising sketches of counties, towns, events, institutions, and persons, Volume I > Part 52
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& Texas, will be constructed ; and, in the second place, if every one of them should be built, the state would be amply secured from ever having to pay the endorsement, for the reason that the roads char- tered, if constructed, would be worth four times the amount guar- anteed. This unwise course of the auditor has tended to depreciate our securities and has given the enemies of reconstruction capital from which to misrepresent our government and to throw discredit upon us abroad."
It will be remembered that Gov. Warmoth, in his message of 1869, stated the bonded debt of the state as being $6,777,300, and the floating debt as $1.929,500, or a total of $8,706.800. In his mes- sage of 1872 he said: "In 1861 our debt was $10,157,882. In 1868, when the present administration came into power, it was $14,347 .- 051, and it is now $23,045,790." These statements do not harmon- ize, and the discrepancy in the utterances of the chief executive only emphasizes the unsettled condition of the state finances at this period. The legislature passed a bill making it "the duty of the treasurer to ascertain and classify the public obligations, and creat- ing a fund for the redemption of the floating debt of the state." The old "redemption of the state debt fund," and the "free-school fund" were transferred to the new fund, and bonds were author- ized, for which warrants and certificates of indebtedness could be exchanged.
W. P. Kellogg succeeded Warmoth as governor in 1873, and soon after his induction into office he appointed a board of examin- ers to investigate and report on the condition of the state's finances. On Dec. 25, 1873, this board reported the debt to be as follows : Bonds and school fund, $24.419,214.14: miscellaneous debt, $3,283 .- 050.70; prior limitation contingent liabilities, $13,003,000; post limitation contingent liabilities, $8,087.500; loans to Citizens' bank and the Consolidated association, $4,828,780.83, making a total of $53,621,545.67. Of this amount the board reported $30,646,649. including all the contingent liabilities, the loans to the Citizens bank and Consolidated association and $2,500,000 of bonds subscribed to the New Orleans, Mobile & Texas railway, as unconstitutional, lapsed, or for other reasons not entitled to payment, leaving an in- terest bearing debt of a little less than $23,000,000. Even part of this the board considered as being "of doubtful legality and should be tested in the courts."
Acting upon this suggestion, Kellogg, in his message to the legis- lature in Jan., 1874, recommended the refunding of the state debt by the issue of a new series of bonds, to be known as consolidated bonds, which were to be made payable in 40 years and were to be offered to creditors at the rate of 60 cents in the consolidated bonds for each dollar of outstanding obligations. Following the gov- ernor's recommendations the general assembly created a "board of liquidation," consisting of the governor. lieutenant-governor. secretary, auditor and treasurer of state, and the speaker of the house of representatives. to cause to be prepared and to issue "con- solidated bonds of the State of Louisiana," to the amount of $15,000-
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000, or so much thereof as might be necessary, in denominations of $100, $500 and $1,000, payable in 40 years, with interest at 7 per cent per annum, for the redemption of valid outstanding bonds, which were to be canceled and destroyed. The act limited the debt to $15,000,000, levied a tax of 512 mills on the dollar for the pay- ment of the interest, and expressly provided that "no court shall have the power .to enjoin payment of the consolidated bonds." By the supplementary act of May 17, 1875, the board was prohibited from issuing bonds in exchange for any outstanding obligations made previous to the creation of the board, "the legality or validity of which may be questioned, and any taxpayer was given power to institute proceedings to test the validity of any bonds or warrants. A list of bonds, aggregating $14,320,000, was submitted with the act and declared to be of doubtful legality. (See Act of May 17, 1875.)
In his last message to the legislature, in Jan., 1877, Kellogg reported the amount of consolidated bonds issued up to that time as being $9,318,342, which would be increased by $2,537,580 when all the old outstanding bonds were refunded, making a total debt of $11,855,922. Thus matters stood when the U. S. troops were with- drawn from the state on April 24, 1877. Gov. Nicholls, with both branches of the legislature, then took possession of the state-house and commeneed a work of retrenchment. It was reported in the state senate in 1878 that, by reducing fees and salaries and abolish- ing a number of nugatory offices, a saving of $2,748,252 had been effected in the state, parish and municipal expenses during the first year of Nicholls' administration. The effect was soon noticeable in the financial condition of the state. Warrants which sold for 55 cents on the dollar in March, 1877. were at a discount of less than 1 per cent in December. In Jan., 1878, the state debt in consolidated bonds amounted to $11,724,800: estimated amount to be refunded, $488,100; outstanding general fund warrants, $188,720.92.
One of the first aets of the constitutional convention of 1879 was to appoint a committee of 17 to investigate and report on the status of the state debt. To a sub-committee of 4 members was delegated the duty of examining all the aets of the legislature with regard to bond issues or other pledges of the state's faith to the payment of certain obligations, and whether adequate provisions had been made for the payment of interest and redemption of the bonds at ma- turity. The questions upon which they were expressly charged to report were: 1-Was the legislature of 1874 competent to bind the people of a free state? 2-Do the records in the secretary of state's office present any evidence that the constitutional amend- ments of 1874 were adopted by the people? Three members of the sub-committee reported that the legislature of 1874 had not been chosen by the people, but had been upheld by the military forces of the national government, and that the funding act passed by that assembly was therefore invalid. With regard to the constitutional amendments these three members said: "They were not ratified by the people, the returns having been counted by the returning
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board in violation of the facts." They recommended the payment of bonds amounting to $3,486,000, which sum was subsequently in- creased to $4,000,000 by additions for interest, and presented a list of bonds, amounting to $19,693,447, issued chiefly in the interests of railroad, levee and navigation companies, which they recom- mended not to be paid.
Another sub-committee of two members made a similar report on the same questions, and the committee of 17 then reported an ordinance to the convention recommending the payment of claims aggregating $4,082,358, which they considered as valid. The re- port of the committee says: "The theory or principle upon which your committee have prosecuted their inquiry and based their rec- ommendation is, that no invalid nor fraudulent debt should be paid by the people of the state, and that the valid and honest debts should be paid. They are unable to concede that the funding of any portion of the debt has given it any greater validity than it origin- ally possessed : and, on the other hand, they do not admit that the absolute repudiation of 40 per cent of debt detracts in the least from the validity of that which was legal and honest." This report was signed by 10 members of the committee, but the other 7 pre- sented a minority report, citing as part of the argument in support of their position a decision of the supreme court, handed down by Chief Justice Manning in May, 1878, to wit: "We regard the faith of the state as irrevocably pledged to the payment of her consoli- dated bonds issued under the authority of that act (1874), and to the payment of such others as may be issued under the sanction of the decree we shall make herein. The contract with the holders of these bonds is one which, in the language of the constitutional amendment, the state can by no means and in no wise impair."
After considerable discussion the convention, by a vote of 71 to 41, adopted an ordinance to be submitted to the people at the same time as the constitution, but to be voted upon as a separate proposition. The provisions of this ordinance were as follows:
"1. Be it ordained, That the interest to be paid on the consoli- dated bonds by the State of Louisiana be, and is hereby fixed at two per cent for five years from the 1st of Jan., 1880, three per cent for 15 years, and four per cent thereafter; and there shall be levied an annual tax sufficient for the full payment of said interest, not exceeding three mills, the limit of all state tax being hereby fixed at six mills. Provided, the holders of consolidated bonds may, at their option, demand in exchange for the bonds held by them bonds of the denomination of $5, $100, $500, $1,000 to be issued at the rate of 75 cents on the dollar of bonds held and to be surrendered by such holders, the said new issue to bear interest at the rate of 4 per cent per annum, payable semi-annually.
"2. The holders of the consolidated bonds may at any time pre- sent their bonds to the treasurer of the state, or to an agent to be appointed by the governor-one in the city of New York and the other in the city of London : and the said treasurer or agent, as the case may be, shall endorse or stamp thereon the words, 'Interest
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reduced to 2 per cent for five years from Jan. 1, 1880, 3 per cent for 15 years, and 4 per cent thereafter;' provided, the holder or holders of such bonds may apply to the treasurer for an exchange of bonds, as provided in the preceding article.
"3. Be it further ordained. That the coupons of said consoli- dated bonds falling due the Ist day of Jan., 1880, be and the same are hereby remitted, and any interest tax collected to meet such coupons is hereby transferred to defray the expenses of the state government."
At the election on Dec. 8 the vote was 59,932 in favor of the ordinance to 49,445 against it, and in this manner the question of the bonded debt was finally settled. In some quarters the cry of "repudiation" was raised, but in view of all the facts there is no question that the people of Louisiana accorded to the holders of her bonds all that was justly their due, if not more. The wind had been sown, and the crop of whirlwind was now ready for the reaper.
Pursuant to an ordinance of the convention. "for the relief of delinquent taxpayers," the general assembly of 1880 created a fund- . ing board, the duties of which were to fund all valid anditor's war- rants that came within the provisions of the ordinance, and certain obligations of the public institutions, in bonds of the denomination of $5, with interest coupons attached, at the rate of 3 per cent from Jan. 1, 1880, and payable on Jan. 1, 1886, or sooner, at the option of the state. The total amount of bonds issued under this act (called "baby bonds" because of their small denomination) was $1,381,- 297.52, but they were not redeemed in 1886 as provided by law. Gov. McEnery, in his message to the legislature in May of that year, reported the state debt as follows: Four per cent bonds and certificates, $11,967,752.02: coupons 1 to 11 inclusive, $543,784.58; baby bonds and coupons. $1.437,025.39; warrants 1878 and previous, fundable, $16,396.65 ; warrants 1878 and previous, neither fundable nor payable, having been issued since adoption of the constitution of 1879, $4.605.72: levee contractor and repair warrants, 1878 and previous, $10,700; making a total debt of $13,980.264.36. Perhaps the most important financial legislation since that time was the act of 1894, which authorized the board of liquidation "to apply the surplus of the general fund to the purchase or payment of such valid bonds and auditor's warrants of the state as it may seem to the best interests of said state." The board decided to purchase state bonds and advertised for proposals. The bonds immediately appreciated in value in the estimation of the holders, and in Nov .. 1895, bonds to the amount of $1,122.000 were offered, over one-half at par or above. The board purchased bonds aggregating $200,300 at 9978 cents, and during the year the levee board redeemed $22,000 of its first issue of bonds at par. This purchase and redemption did much to establish the credit of the state on a firm footing. The policy was continued and Gov. Foster, in his message to the legis- lature in 1896, said: "Every current obligation of the state has been met and promptly paid in cash when due. There have been
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paid and canceled: Warrants ontstanding for 1885-86, $318.116: interest coupons 1 to 11. $483,183.91; total, $801,299.91, at a total cost to the state of $+13.858.97 ; consolidated constitutional bonds, $712,000, at a cost of $690,731.57 ; and baby bonds, $359,510, at a cost of $148,834.84. Without increasing assessments to any appre- ciable extent, and after providing for all the current expenses and all lawful demands, there have been paid out of the surplus of the treasury $1,872.809.91, at a cost of $1,253,425.38, and when the taxes for 1895 are collected and every current obligation met, there will be a surplus to the credit of the two funds of about $300,000. The consolidated bonds retired, amounting to $712,000, bore interest at 4 per cent, which will result in an annual saving in interest of $28,480."
The revenues of the State of Louisiana are derived from an ad valorem tax upon the assessed valuation of the property in the state, and a license tax upon individuals or corporations engaged in certain trades, professions or occupations. In 1880 the assessed value of the property was, in round numbers, $177,000,000, and the ad valorem tax was then fixed at 6 mills on the dollar. By 1906 the assessment had increased to approximately $397,000,000, and the general assembly of that year reduced the tax to 5 mills. The state assessment for 1907 showed a valuation of $508,079,419. Gov. Blanchard, in his message to the legislature on May 12, 1908, argued for a further reduction in the tax rate. "As assessments increase," said he, "the rate of taxes, state and local, should be lowered. All men who give the matter impartial consideration agree that it is far better for the honor and reputation of the state to have true rendition of property for taxes with low rate than poverty-stricken tax rolls with high rate." No tax is levied on public property, places of religious worship or burial, charitable institutions, build- ings used exclusively for educational purposes, nor on household property to the value of $500. Since Jan. 1, 1900, no tax has been levied for parochial or municipal purposes on the capital, machinery or other property employed in certain lines of manufacture, pro- vided the factory so exempted employed five or more persons. This exemption is to last until Jan. 1. 1910, and railroads completed before Jan. 1, 1908, are to be exempt from taxation for a period of ten years. The public moneys of the state are divided into four funds, viz: The general fund, for defraying the ordinary expenses of the state government: the public school fund, for the main- tenance of the public school system ; the interest tax fund, for the payment of the interest on the bonded debt; and the general en- gineer fund, for the purpose of constructing and maintaining a system of levees.
According to the report of State Treasurer James M. Smith on April 20, 1906, the bonded debt of the state on March 1 of that year was $11,108,300, divided as follows: Old consolidated bonds of 1874, $11,500: constitutional bonds of 1880. $101,700; new con- solidated bonds of 1892, S10.995.100. Under the law the old con- solidated bonds minst be exchanged for the new issue before they
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can be paid. At the same time this report was made there were balances in the several funds amounting to $1,235,977.12, showing that the finances of the state are in a reasonably healthy condition.
Fish .- Most plentiful are the edible creatures of the waters of Louisiana, for both the salt and fresh water varieties abound in manifold numbers. The salt water branch of the pisces family is well represented by the mackerel, pompano and herring, while the fresh water varieties include the red fish, mullet, perch, red snapper, pickerel, black bass and green trout, so that lovers of the piscatorial art have unlimited opportunities to test their skill, and especially do they zealously seek the pompano. Its meat when brought in contact with the human palate produces a gastronomical effect not soon to be forgotten, and the tourist who comes and goes without having partaken of the delicious pompano might be said to have visited the state in vain. The invertebrates of the water kingdom are also numerous, in the form of oysters (q. v.), clams, and shrimp. Indeed it would seem that, if the fishing industry were pursued here with the same vigor that it is on the Atlantic coast, Louisiana would be as famous in this line as are the waters about Cape Cod or the Chesapeake bay.
The fish canning industry is pursued to some extent. The U. S. census report for 1900 shows that 616,000 pounds were preserved for the market in this manner, the total value of such output for that year amounting to $91,000, more shrimp being canned than any other species. Very few fish are preserved by the smoking process, nor are they extensively preserved by salting, although in 1900 about 95,000 pounds were so prepared, of which mackerel consti- tuted more than one half.
On Feb. 16, 1873, the legislature of Louisiana passed a joint reso- lution requesting the state's representatives in Congress to do all within their power to have the fresh waters of the state stocked with fish by the U. S. fish commission. The latter body responded on July 29, 1875, by stocking the waters of the state with 60,000 young shad ; on May 27, 1878, the commission placed 100,000 shad in the Amite river, and on May 8, 1879, the Tensas, Boeuf and Ouachita rivers, Bayou Macon, Clear Lake and Roundavig creek were stocked with 200.000 of the above fish. On Jan. 1, 1875, 15,000 young California salmon were placed in the Tangipahoa river, and on Dec. 22 of the following year 28,000 of the same variety of fish were about equally distributed between the waters of the Natalbany and the Tangipahoa rivers. In March, 1880, another joint legislative resolution on the same lines was adopted, and during the succeed- ing decade the U. S. commission placed a large quantity of young fish in the waters of the state. Among the distributions thus made were about 13.000 carp in the year 1882: 810.000 shad and herring fry at Pass Manchac, LaFourche and Vermilion, on June 8, 1883; and about 800 carp distributed in the waters of 17 parishes in the early part of December of the same year. Since then the Federal commission has made liberal distributions of young fish in the state's waters.
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Louisiana legislators believe in fair play. They believe as firmly in giving the finny tribe a chance to multiply and develop as they do in affording true lovers of the piscatorial art a chance to enjoy their pastime, and as a result they have enacted as progressive a code of restrictive fish laws as are to be found upon the statute books of any state in the Union. (See Game Laws.)
Fisher, a village in the central part of Sabine parish, is located about 6 miles south of Many, the parish seat, at the junction of the Kansas City Southern and the Victoria, Fisher & Western rail- roads, which makes it a good shipping point for that section of the parish. It has a money order postoffice, an express office, tele- graph and telephone service, and considerable lumbering interests.
Fish Pond, a post-hamlet in the eastern part of Concordia parish, is situated on a small body of water bearing the same name, about 3 miles west of the Mississippi river. It is a station on the Texas & Pacific R. R., has a telegraph station and express office, and is the shipping point for a large area in that part of the parish.
Fisk Library .- (See Libraries.)
Flag .- Prior to the war between the states Louisiana had no state standard, but on Feb. 11, 1861, the state convention adopted a state flag. It has been described as "consisting of a red ground, upon which appears a single star of pale yellow. The ground is crossed by bars of blue and white, making of the three colors thir- teen stripes." On the occasion of its adoption the chairman of the committee, J. K. Elgee, of Rapides parish, spoke as follows: "We dedicate the thirteen stripes upon our flag to the memory of those whose unconquerable love of freedom has taught us, this day, how peacefully to vindicate our rights and protect our liberties. The committee, too, could not forget that another race, bold, warlike and adventurous, had planted the first colony of white men on the shores of Louisiana : the name of our state, that of our city, nay, even the morning roll-call of the convention, as it summoned us to our duties, bade us remember that some tribute was due to the children and descendants of the founders of the colony-the blue, the white, the red, emblems of hope, virtute and valor, to the mem- ory of those who first on this soil laid the foundation of an empire. Still another race and another nation remained, who equally de- manded a recognition in a flag destined to be national. If to France we are indebted for the foundation of the colony, Spain merits an acknowledgment at our hands, for by her was the infant structure built up. Her mild and paternal rule is yet spoken of by the oldest inhabitants, whilst the great body of our law stands this day a monument of her wisdom. To the children of Spain we dedicate the colors of red and yellow, which we have woven into our plan. The star cannot fail to remind you that Louisiana has arisen to take her place in the political firmament. Uniting, then, our three distinct nationalities into one, we present a flag which carries with it a symbol dear to every American, whether it be at the last hour of dissolution, or the dawn of a new birth-it is the badge of Union."
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On the 12th the flag was formally inaugurated with dramatic ceremonies at New Orleans. Two brigades of troops were drawn up in Lafayette square, and at 11 o'clock a. m. they stood at "present arms" while the new ensign was hoisted over the city hall. The bells of the city rang out a joyful peal, the multitude responded with cheers, and the Washington Artillery fired a salute of 21 guns. Had the Confederacy been successful in establishing the indepen- dence of the South, this flag would doubtless have remained the state standard, but since the war, by common consent it would seem, the blue flag is usually displayed as the emblem of Louisiana. Both were glorified in song and story during the war.
Flanders, Benjamin Franklin, military governor of Louisiana for a short time in 1867, was born at Bristol, Grafton county, N. H., Jan. 26, 1816. In 1842 he was graduated at Dartmouth college, and a year later came to New Orleans to study law in the office of Charles MI. Emerson, also a graduate of Dartmouth. For some reason he did not adhere to his original plan, and after teaching school for two years he bought an interest in a newspaper called "The Tropic." The paper did not live long and Mr. Flanders again sought a livelihood as a teacher, remaining connected with the pub- lic schools until 1852. In the meantime he became interested in political matters; was elected alderman in 1848 and reelected in 1852; and for the next ten years was president of the Opelousas & Great Western railroad company. Just before the breaking out of the Civil war he became so caustic in some of his remarks about the South that he was threatened with violence, which caused him to seek refuge in the North, where he remained until after the occu- pation of New Orleans by the Federal forces. On his return to that city Gen. Butler appointed him eity treasurer, which office he held from July 20 to Dec. 10, 1862, when he resigned to enter Congress. He was sworn in as a Congressman on Feb. 20, 1863, his term expiring on March 4. following. In 1864 he was the "Free State" candidate for governor of Louisiana, but was defeated by Michael Hahn. He was then special agent of the U. S. treasury department for Louisiana. Mississippi and Texas, by appointment of Sec. Chase, until 1866, when he was chosen president of the First National bank of New Orleans. When Gen. Sheridan removed Gov. Wells, in June. 1867, Mr. Flanders was appointed military governor, but resigned at the end of six months. In 1870 Gov. Warmoth appointed him mayor of New Orleans. In November of that year he was elected mayor and held the office for two years. He was then appointed assistant U. S. treasurer at New Orleans by President Grant. and remained in this position until 1885. He died near New Orleans on March 13, 1896.
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