New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1852-01-21

ave been hed Bat il vas NOT to be supposed that the
prt OF progress aud enlightened innovation every where
yhle would fail to exart its influence our state. and
N due course Of time call that coud be resisted
coming as it did from the of the people of the State
ieInanded second Constitutions that houd he to some
es.ns refex Of the spirit Of the time free from the
deemed Objectionable Free suffrage was called flr hv
the republican spirit Of the day the onarchical life
once was repudated by all classes and the
iperdtoh that had perhaps the greatest weight with
nose VINO desired change Of government the abo
sens OF bank monopoly power the despotic tendency
sreat DIVISION Of public sentiment
me as,em6hng q Convention was sequence of this
the time selected for such meeting Of the delegates Of The
mas seemed most propitious The past with its fruitful
The public mind tranauil the alarm and distress
following the almost complete bank eYnosed
through stringent legislative enactment, had partially
subided ana the movements in favor constitutional
reform in other States had dused much light ur,n the
suhicet and made the duty Of aw-makers in our own
state plain if not unLstakabIe Their work had been
chalked out by almost universal public sentiment and It
eened that they could wanderin wrong paths
and 1t is with ordinary emotions Of PRIDE that we NAV
refer to the composition Of that Convention its members
appeared to have been selected with direct reference to
their intellectual capacity their long familiar knowedge
" STATE interests their practical good and laorious
hantS OF research and Investigation
me present constitution is the offspring Of their
gle and when consider the Immense labor bestowed
upon its formation the difficulties attending every step
~ ~ pfoge z 90 completion the various opinions that
Welgned IN deiiberaton and debate the eonsI,at
ability that marked the discussion of every feature every
section almost every senenee~e should at east ause
"NA"AS
no respect and unworthy binding influence That il con-
talns errors of omission and commission il evident All
efforts OF legislation Of human action IN any denar
1ent Ct thought cannot claim exemption from sucl ailov
knowing this and inbued with a proper spirit tbose WHO
framed the instrument were cautions to provide for its
amendment alteration distinct change Of form
and substance public policy united sound discretion
might require Such changes further provided can
not be made without the direct approval of s people So
mindful were its trainers II making in all Mutations
an eanation Of popular will taken to place ts
entire control beyond the reach Of either II the cri
brancheS Of state The who
ordered 1t to be made alone competent to its revision
on abrogation in part or in whole.
1t would be difficult conceive how any instrument Of
the kind could parttke of the purely republican
character of our institutions and he less Objectionable to
,he governed True. those who sought the engraftng Of
necessary reforms upon IT, did mt accomplish all thsy de-
sired Those who combat predictions of age
VIII have good cause FOR graduation if their success be
y paf.al snort Of what even the plain teachings Of
reason would indicate possible And it should be
borne IN mind that secession from the restrictive
ponL was the result on warm struggle yielded unwilling
y by those who ataehed too much Importance 10 an
struen. that had outfved the generation for which
was created and ceased to have the appreciation Of those
under its rule. sE4Se
1t is with no desire to influence your course that feel
it my duty to state frankly and candly that cannot
see any good ground in what has passed passing in
state affairs for change Of organic law The reas
against such change strong convincing 10 INV mind
they acquire additional force when Il considered
that a number Of amendments to the Constitution are
now III process Of being made in the pointed
IN The instrument and these it is eiieved the
whole ground of objections urged against it. These
amendments are thirteen in number providing for the
ordinate Secretary of State State Treasurer The
law in regard to suffrage been amended as to term Of
residences and If you should as doubt not you will pass
second time these amendments. in comparatively
short of time they will he Incorporated in the
danentai law and make it resemble more nearly the forms
those trainers Of it had in view who consulted the liberal
spirit of the times and the apparent wants Of the State
am not with those who attach sacrednesst form of
government which mas little to recommend it beyond the
long period Of its existence Errors Of Fundamental law
should be corrected with Inference alone the watts Of
the governed But in this as in all other rs of public
policy there middle avoiding
which We may safely stand The principle enuncsted by
Mr. Jefferson that forms of government should not be
changed for light trivial always appeared to-
me to be correct Nothing contributes more to sound
condition of things than stable laws faithfully executed
and conviction in the public mind that they viii not be
changed until such change demanded by of an
irresistible character 1t will be admitted that the
gency must be great that viii such alterations Of
Organic law as are contemplated or such attempt. at
least for it might be found upon trial that nes couveu-
toh ~oud o1 be more fortunate in meeting every ex
hecaton o1 te people OF the state than the which
framed the present Constitution It should be SIT forth
that the instrument does provide for its revision and
amendnent, or that the time given for making such
amendments is too remote to be of practical Benefit the
of in the shortest possible period being in
dipensable for the public good It is believed objections
OF this positive nature be urged against the prn
Constitution, The time given for making amendments
is in opinion greater in length than sound poicy
would dictate. Such amendments would necessarily
affect the people of the sate proper that they
should not only approve or reject them after the most
mature deliberaton but should have opportunity of
reversing their verdict if deemed proper before such final
change should be made in the organic Iawas
OF what conceive to be my duty have not alluded to
the great expense of holding Convention for the purpose
named in the present crippled condition of finances
ana when there is in the public mind deeply rooted con-
ricon OF the necessity fer reduction
crease OF taxation Great care should be taken to guard
against expenditures not absolutely required promote
the public good Sonic idea of the extraordinary cost of
legislation may be gathered from the fact that the last
session OF the Legislature covering period of sixty days.
cost the state sum little short of hundred thousand
dollars This large actually spent for conducting
the simple business of the independent of appro-
priaions and while the exhibit will be admitted to be
startling it should impress you with the duty OF consider
ing fully the necessity of making such drains upon
treasury barely sufficient to meet the current expense of
government and the interest falling due State obiga-
tons without reference to extngushment of the prn-
cipai for which provision must be made.
1t is with ditdence and fear that may not have
rived at proper conclusion to public sentiment upon
this interesting point that submit these remarks Com
ing AS you do fresh from the people you may have ir
nation in this regard not possessed by myself and may
deem it advisable to take the fFst step in the
plated change by referring the call Of Convention
people vino must upon it, If such be your action
shall most heartily acquiescei it, indeed it would per-
maps be best to do this that the truth may be clearly
ascertaincd. and nciou follow the manner pointed
by the present law you cannot be far in when you
have the popular Will for landmark and it svour duty
the agents of that will to ie peorle every oppor-
tunfty to proclaim for against any which
you have other than delegated power the limits
of which have been clearly designated by the trainers of
the present Constitution
Free Banking is another subject upon which thers has
been much discussion and cnntrlrety of opinion
In the old States of North. rich in and in
capital accumulated by the OF centuries this
cessf operating it does under laws the Salutary
ana effective. The facilities or conducting such opera
tons are manifold State and individual credit is high
the rate OF interest low and national and State securities
in the almost Exclusive possession Of those who bank upon
the Free Principle In the South, most unfortunately.
financial affairs are by no tiattering Capital
appears to have forsaken its legitimate channels
passed into the hands of changers of inter
est arc extravagantly high individual edit far below
what it should be in sound condition Of things and
State bonds either owned by under the control If
Northern brokers foreign capitalists.
These remarks are general but will apply with much
force to State Rich in resources with soil of
unrlvaled fertility citizens embarrassed in their
business transactions not perhaps from erh of CAPT
tai but the very high rates of interest demanded by those
who control domestic exchange
This evils believed to be beyond the reach of ieslGto
arising in the opinion Of many from peculiar rpr
dence but it may. in your opinion, be deemed advisable
to pass some Free Banking Law Of general nature Civ
Ing to those citizens who require it, the power bank to
the extent Of their uudoubtGd The only object
requiring your especial attention in framing such law,
would be to provide etecualy for the security of
the circulation of such individual company banks and
in doing this the experience of other States would be
valuable to you.
The first attempts at Free Banking were made upon
mixed basis of State stock and real estate but this
abandoned proof being adduced that the valuation of
such estate ines too high il not fraudulent and
the security to note holders not ample. United States
stock and State stock always 1t par value form
the security for circulation in States where the free