Pointe Coupee Democrat. [volume] (False River [i.e. New Roads], Parish of Pointe Coupee [La.]) 1858-1862, 1858-04-10


of sugar and cotton can only be success
fully raised by slave labor, and the in
creased demand for these staple commo
dities require more labor for their pro
duction.
The dav is near at hand, unless some
remedy is speedily devised, when ne
groes will be so valuable that none but
the rich a own them. 1t is all impor
tant to the institution of slavery, that
the number of slave owners should be
increased instead Of diminished, and |
know of no plan to effect this object SO
well as this African apprentice system.
Besides this the South must look to an
extension of Southern Territory and to
an increase Of black labor. Our FEEDER
al relations are so threatening that this
policy is all that is left to keep up an
equilibrium of power, if we remain in
the Union or to give strength and sta
bility to a Southern Confederacy, if ia
naticism drives US to such an emergen-
cy. When England captures a SLAYER
what does she do with the unfortunate
captives ? send them back to the South
ern coast of Africa? No. They are ap-
prenticed to labor in some of her colo
MES. France is doing the same thing;
and we propose to do 50 likewise, be-
lieving that humanity will be subserved
thereby, for no one denies that the well
fed, we'll clothed, and well cared for AT
rican negro is not better off than the
wild, half starved African whom we
propose to ~ciyilize and christianize.
The Citizens Bank asked an extern
sion of $500, 900 of her bonds that fall
due in February, 1859. 1t was a just
and equitable bill. The State agreed to
loan $4,000, 900 of bonds to the stock
holders of the Citizens Bank, on condi-
ton that they would give security for
90 per cent. more as a margin. This Sc
curity was furnished for $14,400, 900
yet the Bank only received $7,1S8,000
of State bonds; while the State has the
entire security, besides 5 l 1000, 900 since
paid into the Bank as a contribution lev
led on the stock at the rate of 81 per
share. Besides this, the State has adj
ditional security by the arrangement
the reserved fund, now amounting
to $3.50, 900 and which will soon reach
81 1000, 900 shall not be divided until
the bonds are paid. Thus the safety of
the security to preserve the State from
loss was without doubt. The only ob-
of any Importance, to the pas
of the Bill was.a Constitutional
me. On this ground l had no doubt
The bonds were created before the adop-
lion of the Constitution, and 81, 200, 900
due in February next, the Bank
proposed to pay 800, 900 Of the Bonds
and asked an extension on the balance.
This was not the creation of a new
1ebt but the extension of an old one in
part.
Although my own mind was made up
this Constitutional point, yet l sought
she opinion of the first legal men of the
State, and among others a distinguished
Jurist Of this parish, in whose ability to
me | had unlimited confidence.
Aided by his counsel I determined that
t was clearly constitutional to come to
he relief of the Citizens Bank.
1t was then a simple question Of policy
md | thought it unwise to send $1,000,
100, in specie out of New Orleans in the
month Of February, when we could re-
ain in our midst $500, 00e at 4 per cent.
md thus enable the Bank to do full JUS
ice to all her holders, by placing them
N the same footing.
There are many other votes | might
but this communication is al
eady too long. My disposition was to
'ote with the Democratic party on all
Iuestions Of a party character, and
GREATER on all questions involvingpo-
itical principles will be found where
have ever been, in the ranks of the
Rnt whnn narish State or