New Orleans Republican., 1868-10-15

Mr. Pinchback: I call for an executive
session. ~- NA1S"'i'S
Mr.. Ray: ! rise to point of order-tbat |
this bill, which is the special order of the |
day, takes precedence of the call for an ex- |
ecutive session.
heretofore that GALL for an executive ses3 |
sion was imperative; bnt hope the Senator
will withdraw it.
Mr.. Wittgenstein: Mr.. Ray had the floor
when the gentleman called for an executive
session.
On motion of Mr.. Ray the bill was made
The special order of the day for Tuesday,
Immediately after the reading OF the min.
utes.
Mr.. Whitney called up the substitute for
House Dill No. 154, relative to the CITY
finances, with their concurrence in all the
| sections ofthe substitute except No. Z.
Mr.. WittgensteiD: move the Senate re.
cede from its amendment
Mr.. Bacon: l move the Senate persist in
its amendment. 1t is the only decent sec
| tion in the bill. am determined to protest
against this from first to last, and to let nv
protest be heard. The city notes are now
in the hands of those who bought them at a
| song, and they are coming into the city
| treasury, and will come into it continuous
| ly,and the people who work for the city, who
clean its streets, who preserve its peace as
| pOiiGtlIttlt anu WuO 10 all The Oru1gery OF
the city, but who cannot manipulate the af-
fairs Of the city, who cannot make promises
and arrangements with those who furnish
money, atey will be compelled to receive
this money; and so with the teachers of the
schools. The only way to get rid of it is to
prescribe II altogether after limited time,
| within which those people who hold city
notes shall pay IL in in the shape of taxes or
city bonds; otherwise, sir, we will &c on
from year to year, with complaints constant
ly increasing against the management of
the city government, with additional
scenes OF bands OF men marching up
to the Mayor and then to the Governor
to demand their money, and of poor
men and women teachers utterly unable to
meet their engagements, who, having more
self.respect and better sense of propriety,
will not engage in such riotous demonstra--
tions, but who will pine away in wretched-
ness and finally be compelled to leave our
State and seek employment elsewhere; and
the brokers will be enabled TO make their
percentage day after day, as they have done
heretofore, ont of the hard earnings of the
city employees. Now, sir, | hope that Sen.
ators will insist upon this provision, and
cut off the receipt of city money into the
city treasury on and after the first of Jan
uary.
Mr.. Braughn: Mr.. President, I hope the
motion to recede will not prevail; be-
cause some definite period must
! be fixed at which the funding
and paving of the city money must cease.
One bill we have fixed the first of January
next as the period at which prescription
8 will commence. When we consider the fact
that city money is now entirely in the hands
, of capitalists and brokers, it will at once
appear that the length Of time given is
i, ample and sufficient. l believe, sir, that to-
= day there is not ten Thousand dollars of city
money in the hands OF the people, but that
| bAa al hpln II n hxJ ba hrrly yars
= and capitalists, who are waiting for this
:, scheme or some other scheme to convert i
into bonds or securities. If we recede from
= our amendment aud no period is fixed whel
the payment of them for taxes is to cease, ,thi
mixed condition in relation to city none
: will continue God knows how long. But
d we fix period, and then these people, j
you fail or decline to exchange this cit
q money for bonds which we propose to give
you for them, or TO pay your back taxes
running from the years 1862 1863 1864, 1866
S 1866, 1867, to the first of January next. You
city money will no longer be taken, and yO
will have to pay currency. Such being tn
, law, am satisfied, sir, that on the secOn
y day of January next there will not be fiv
i dollars of city bills in the hands of any pei
> son in the city of New Orleans. ask, sir
= what harm it can do TO leave the section a
it is. 1t will hasten the ABSORPTION of cit,
y money. We will be rid oft. The city and tn
= State have found this matter source o
. continual annoyance and trouble. But
? the motion to recede prevails, God know
y how long we will have this subject still
l. upon our hands. ] therefore move as sui
81 stitute to the gentleman's motion, that tn
Senate adhere to its original section, an
that a committee of conference be appointed
o Mr.. Ray: l desire to remark upon thi
q section that the first Of January is fixed, b.
which time the holders OF these notes ma
J receive bonds for them or nav them fo
| eli 7 o1A hat
e right to force the holders of these notes +
"a exchange them for bonds. There was no suc
contract when they were issued that the
were to be redeemed in bonds or anythin
else but currency. five can force them t
take bonds we can force them to take any
thing else-We may permit them to be II
q. ceived for taxes, but we have no right t
insist upon that stipulation that they sha
be converted into bonds, and we have n
n right to prescribe them after a certain date
IS IL is O kind OF reputation that we ough
le not to sanction. We may permit them t
d. exchange their notes for bonds, but unles
ed there are enough bonds to absorb the cit
ly notes, then by making it imperative, W
Q. would prescribe them altogether, and W
l have no right to pass such an act to compe
he the holders of the notes to take something
n that was not agreed upon. If the city obi
tn cations have any foundation in law or II
1y contract it is that they are to be taken u
ct in money How many notes are in the hand
OF of the original holders do not know; b.
de that is a consideration that has no We
IN with me whatever. 1t ought not to be
be dered for a moment. We must carry %
d. contract in good faith; we have NJ 1ut
ne legislate to require a holder, right
he happens to be money lender, Iecause
te thing else than what was or 70 take Z
be in the contract. We mus iginaliy agI
n. though they were in the q treat theh
lis sons who originally ear hands OF the
from the city goveGnn neu the oougstl
to same way in regardt !ehI, ana act ~ ~
" This provision is the P,aai, Pay,,nenie ol III
er would be SO coust- unconstitutional
lie Mr., BACON: NJ lded by the courts.
N. +ba Sanator fr, r, President, would sa
p Nos which Jra 0uachita that these
,n tihn in Law ae speaks of have no tou
n Sap1n ofI This money was issued in
hs an5 II .aw and has no legal foundat
81. nnone this defense was distinctly n
Sa oP ~ suit against the city by the hol
ny ~ n zen they would not get dime.
- | a. ne holders OF the notes buy that W
eIo ~ 4ey know to be merely moral obligat
zee zee and they have no legal rights on whlscLL
4'S base their claims. They are set OF
=, locks and thieves who stand in the wa
! : &c the progress and solvency OF the
ree They should have what they gave
sf9 a these notes. They may even nave
whole face of them in bonds; but they sn,
have it in such shape that {hey wonlo
{ the cripple the city and the people VINO nay
hat It pay flr them, and tney ges tne 9 9on' ~
read the city with interest,", as propose9 IN
heen lion seven of the bill, and are allowt
ining nav them for taxes until the drst of J
a and ary. il is ali they should ask in exchang
know that which Is not legal in itself. Now
houh thus dies away the claptrap argument G
an. I senator from 0uachita about the "rep
es' tom and ncohstitutionality" Of this
~ to tion of the act. Bob lg8 Il ,g
lated We are dealing with that which i