New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-12-04


people, make 1t impossible and unjust to
entertain the idea for a single moment OF
disputing or discriminating between the
claims of the present holders. Some of the
latter are doubtless capitalists, brokers and
heavy dealers; some of them, perhaps, Shy
locks; yet they are not all SO, and if they
were, their claims can not be disputed on
that account. Some bought at low rates,
Others did not. Many of the holders are
poor but thrifty men, who have managed
to hold tightly upon their own, in the hope
that the city would soon come to their re-
lief and that of its credit.
1t is no doubt the case that every holder
and purchaser of city money, however a
Sbylock he may be, has added by his invest
ment to sustain the city credit, and contri-
buted, whatever his motive, to the relief of
the seller who had to sacrifice it, brit who
would have lost much more had capitalists
declined to invest. -. ...... .....
The ordinance is popularity known as
Shields's Three Million Ordinance. AS its
name indicates, it owes its paternity to
Alderman Shields, or at least he stands
before the public as its sponsor. Mr..
Shields, though man in the prime of life,
is very old politician. He has been an
Alderman off and on for twenty years, and
being clear-headed man and good
speaker, has generally been leader
in the Council, and bears a reputation
for probity and honesty as good as any one
can be supposed to have who has had
twenty years experience in the city gov
eminent. He used to have considerable
influence days of Peters, Garland
and others, but it was evident he was left
on the outside Of all big jobs and contracts,
and his name figured more in the more use
full departments of municipal legislation
1t was somewhat startling, therefore, to his
numerous circle of friends, of all political
parties, to find Alderman Shields pane as
sociated with so gigantic az affair as a
$3,O0O,OOO bill.
Shields used to champion the Wing party
as its leader in the Council against Jimmy
Caldwell, Yancey aud other apostles of
the Democracy of former days. What
would they think to look back from their
tombs on their old antagonist, now the &C.
knowledged brains of Democratic Coun-
Gil, engineering a mammoth three million
bill before distrustful people.
We find in the ordinance defect which,
we think, deserves attention. The bonds
are to be issued for notes, but in no case at
less than par. No provision is made
for giving them to the highest bid
ders. Great favoritism and much
corruption might ensue from such
an omission. The city officials might
issue them at par, and institute an arbi-
trary rule of preference. In fact, any
preference at all would be arbitrary and
partial. There can be no just system ex-
cspt giving them to the highest bidder,
requiring all bids to be at least par.
This is defect that may yet be remedied
by the Council, even after the election.
But it ought to have been distinctly pro-.
yided for in the ordinance, and its omission,
in the present state of public distrust, will
lose the ordinance many votes.
With this exception, the ordin ance is free
from any glazing defects The truth is,
the present Council has not the public
confidence. Everything that it does
is regarded with suspicion. We
say this in no spirit of partisan
ship. Thousands who opposed and dis.
credited the last Council throughout its
administration, declare that this Coun Gil
out Herods Herod, and stands worse in
the public opinion even of its own party
than any clique that has hitherto held pos
session Of the municipal government.
The ordinance will, therefore, be voted
against by many, irrespective of its merits
or dement's, because, to their view; no good
can come out of this Nazareth. Another
source of opposition is the Property
/ Holders Association, who have pub
| lished resolutions calling on the people
to vote against the ordinance. This, how
ever, is a gun that may kick backward
Many, even Of the Association itself, will
vote for the ordinance, just because of the
passage of these resolutions. Since The
expose of how their leaders had carefully
pulled their own chestnuss out of the fire
but were ever so willing for the rank and
file Of poor taxpayers to get theirs burnt
they will think for themselves. The
4 Property Holders Association isa gooi
thing 50 long as It possesses the confidence
of its own members. But if the latter sus
pect that they are being managed BY an in
sincere policy, or for disguised politics
purposes, they will remember how the
have been treated BY their leaders in th
one per cent tax business. li5 3
81 The colofed voters would have bee
Largely influenced BY the Property Holder
!, Association, had not the whole body (
: colored property holders and taxpayers
been ignored III the getting up and mar
1 agement Of she Association. They blam
T the leaders for dis AID dislrust their n
s Communications
i Republicans genalplly, white AMI
J colored, will not vote It all, Of II the
7 should, viii probably do % ont Of sym
: patty for the city employs and in fass
Of he ordnance, and speaking