New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-10-28

city drainage so constructed as to be mere
cesspools and convenient receptaeles Tor aii
manner of fifth, breeding pestilentlsl
vapors which bring disease and death
with slow lingering torture Why
are your teachers unpaid and de-
frauded cut of a large portion of the pit
lance allowed them by the collapsed con-
dition of your city currency? Why are
your city police-those men who not
only through the day. but during the weary
tween you and harm while. you sleep com
fortably in your bed-why are they de-
frauded of their wages, without bread to
eat and their children without clothes to
cover them and crying from hunger? Why
are all these evils allowed to existg They
exist because of the NEUTRALITY-SUSPICIOUS. OF
the city government. They exist because
schemes of plumber and fraud and protligacy
ike the monstrosity now before US nave
been permitted to consume the substance OF
the municipality Let honesty and capaci'
ty rule the city and all these ills will soon
disappear.
Finally, we are told by the Senator that
these brides so freely offered accomplished
nothing. Then why 81 this ado about them!
This is true as far as the executive depart
ment Of the government is concerned; but
the vote we are about to take will test its
truth as far as it applies to us. l trust IN
God, sir, that all our votes will be cast so as
to rebuke these Infamous proceedings and
thus each Of us preserve his honor, his in
tegrity and his self respect.
Mr. Bacon: MIR. President, have one
word TO say in reply to the remarks of my
colleague from the First District. / did not
make any charge against either Republican
or Democratic Senators as having acted dis
honestly, for know no facts which prove
that to be the case. What l did say was
this: that ii hereafter the charge of dis.
hon ~ IL, ha
Assembly of 1868, | for one would not insist
that 1t was Republican dishonesty alone.
Mr.. Ogden: What do you mean by that?
Mr.. Bacon: | mean that | do not say posi-
lively there is dishonesty, because l have
not the facts to prove it. If l knew facts
which | could produce to prove it upon
either Republicans or Democrats, would
do so. Bu' l say that if hereafter others
bring the charge Of dishonesty against this
General Assembly, l. for one, will not insist
that it is Republican dishonesty exclusively.
Not knowing any facts to prove it, can
not, OF course, assert it positively Of any
one member.
Now, Mr.. President will say this in re-
gard to this matter, that the bonds which
were authorized TO be issued to the extent
of one million are now worth seventy-five
cents on the dollar, and eagerly sought for,
which answer the assertion of Senator Ray
that such bonds would not be worth more
than sixty cents.
Mr.. Ray: At what rate of interest
MIR. Bacon: Ten per cent in currency.
Those authorized by this bill bear six per
cent interest in gold. A gentleman, who is
large holder OF city notes, told me he was
willing and anxious to take the bonds of the
city bearing eight per cent interest, in cur
rency, at par for his city notes.
desire, moreover, to say that what the
Senator speaks Of as Reputation, the giving
of the city bonds for its matured debt and
for its currency, is precisely what was done
by the city in creating what is now known
as the consolidated loan. The various NUM-
cipalities of the city were owing the holders
of their scrip or money for the same, and
this was at varying rate of discount, one
part of it, that is the Third Municipality,
being nearly worthless, aud the municipali-
ties and the city as a whole were owing the
debts, and these were all consolidated bonds,
which we are now annually redeeming,
were given for them. This was not held to
be reputation but payment, and was re-
garded as both honest and just. And this
propose that we do now, making pro-
vision for the punctual payment of in
terest, when interest is not now allowed.
and for the final payment of the debt in full.
Mr.. Wilcox: Mr.. President, desire to say
word before the vote is takeHHtgJol this
question. ScE-ssol5 wei know that have
supported this bill from the time that it Was
first introduced believing it good mea-
sure. The arguments adduced tonight have
not changed my opinion a particle. be-
lieve its defeat will work injury to people
OF all classes in this city-policemen, la.
Dorers, merchants brokers and others.
can indorse all that Senator Ray has said in
regard to the bill.
As to the charges made of corruption and
bribery, have nothing to say, as they are
entirely unsubstantiated and vague. Ihave
AI,aA
influence the action of Senators both for
and against the bill. But my mind has
been made up from the beginning, and my
opinion is now precisely what it was then
that it is good bill, and one that will bene-
fit the city.
Mr.. Ray: desire to say few words in
reply to the remarks made by some gentle
man upon reputation. The Governor
that the city shall be author
lied to issue bonds to the extent of three
millions, at six per cent and the holders of
city money authorized to exchange their
notes at par for these bonds. Now, / say
that so long as these bonds would not be
worth par it is fat reputation. A six per
cent bond of the State is not worth more
than sixty cents on the dollar. Senator Ba-
con says ten per cent bonds are worth sew.
enty-f cents; at the same rate six per
cent bonds would not be worth over si4ty
cents.
These city notes represent debt contract
ed by the city to school teachers and others.
They were paid as money, dollar for dollar,
and the persons who received them expected
them to maintain their par value. Now,
after losing three or four years interest upon
this currency, it is simply asked that the
city raise money to absorb these notes at
par, and hue and cry is raised that the
holders ought to be content with bonds
worth only sixty cents If that is not re.
quotation. do not know what the word |
means.
The Senator from Carroll looked around |
and said he did not see the school teachers. |
Wei, he probably saw very respectable |
congregation of gentlemen. The school |
teachers are mostly ladies, and they are not |
likely to come into this legislative assembly |
at this time of night. Laughter.)
NOW, it is my good fortune to know some |
Of the lady school teachers of this city; l |
know that some of them have been holding |
on TO their city notes, so that they would |
not lose their hard earnings.
Mr.. Antoine called the previous question, |
which was ordered, and the yeas and NAYS |
being ordered on the passage of the bill, |
notwithstanding the Governors veto, re.
suited:
Yeas: Antoine, Day, o'Hara, Packard,
smith, Ray, Whitney, Wilcox, Wittgen-
Nays: Andersen, Bacon, BeSres, Braughn, |
Campbell, Darrell. FraHeois, Futch, jerks, |
Jewell, Kelso, Lewis, Lynch, Monette, |
Ofutt, Ogden, Pinchback, Poindexter,
+, So the Senate refused to pass the bill over |
he veto Of the Governor.