New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-10-13
new REPUBIICAN TUESDAY OCTOBER 7ls 1863

levees, and would like to have this com.
mlttee appointed with the concurrence of
the Committee on Public Lands and Levees,
and without taking 1t from them would
like to have the bills considered by that
committee Jointly With special committee.
Mr.. Lynch There is no objection to that
that know Of The bill has been reported
on by the Committee on Finance. II any
thing can be gained by q special committee
do not know any objection to its being
appointed.
The President The resolution reflects
upon the Committee upon Public Lands and
Levees.
Mr., Campbell Not at all my motion is
that the committee report in connection
with the Committee on Public Lands and
Levees.
Mr.. Todd would be in favor of the
joint committee to consist of the Legislature
of Arkansas and that of Louisiana. Uaugh.
ter.)
The President: The Chair does not under
stand that we have anything to do with the
Arkansas Legislature at all.
Mr.. Campbell: My object was this-to act
informally, that We might accomplish the
great object we have in view.
Mr.. Bacon: Mr.. President, desire to say
that while abstained from debating this
subject throughout have deep interest in
it. If we are to have the levees built we
tuusL uldhe SOlut SdCIlnGcSt III ULQGI W lie
store this vast, rich and alluvial soil to It's
proper use, and the great difficulty has been
as to now the funds contributed from the
treasury of the State or from Congress by
the Endorsement of bonds-how that money
should be managed. There is an impression
in this community that the money has been
so badly managed in the past that there is
so little prospect of better management at
present, that it is like throwing the money
of the people into the river. Now, sir, [
| am assured that there is some hope that by
| a proper concert OF action aud proper IN
Outstanding between ourselves and the APP
pointing power with those who have a
proper influence with the two houses OF Con-
| gross that we may be left free in making the
selection of proper men 10 manage the
funds procured. as condition pre-,
cedent to anything to be done, and
even that properly guaranteed Sc
curities will be Endorsed by the Corg ess
of the United States, and the funds 50 pro-
cured used actually and fully to the very
utmost extent in restoring these lands to
security and fruitfulness. With this under
standing, should be very glad to see this
| bill, which should have otherwise opposed
or anything like it, referred to the COM
nittee to see what hope there is for some.
thing of this kind. In the meantime, we
will await with some patience that VIII CHI is
to be done by the appointing power by US
I
and custodians of the funds. After we know
who are to manage these things. we may
| better decide what course we should pursue
in reference to legislation.
Mr.. Lynch: A bill of similar character
and of II larger magnitude has been referred
to the Committee on Public Lands and Lee
wees, and the object OF referring this bill TO
that committee WAS that they might com
pare the two and see if bill might not be
produced embracing the best features of
both bills.
Mr.. Blackman Mr.. President if the
State again by this proposes to issue more
levee bonds to the extent of SIS, 600 900 under
the present financial embarrassment of the
State is a mistake. AS the bill stands now,
it will provide leak through which at least
a million OF dollars may run. We all know,
Mr.. President, that at least million has been
squandered by the old Levee Board. ask if
in the present financial condition ofthe State,
when capitalists in the North and throughout
the world have not the slightest confidence
in us, if it is proper and polite in addition
to the fifteen millions now burdening US to
put on the market five millions more. If
you wish to build these levees and keep up
the credit of the State, commence by the
bonds already issued. But if we make this
new issue the bonds will not bring more
than twenty-five or thirty cents per dellar
in the market; and if we go on in this way,
| adopting one financial plan one day and
| repeating it the next, we shall certainly
lower the credit of the State. | move to lay
| the bill on the table.
| The President: The motion to lay the bill
| on the table is not in order. A motion to
lay the motion to refer on the table would
be 10 order.
Mr.. Ray: do not rise, Mr. President, for
the purnose Of discussing the merits Of the
| bill, as | said something about it on Satur-
| day. But this statement of the Senator from
| Claiborne, that he is unable to understand
the financial plans adopted by this Senate,
| that we repeal one day what we have done
the day previous. The only bill of fnan-
cial character which has been repealed was
that introduced by the Senator himself, or
rather his own provision in bill, which
destroyed the effect of it, 1t is well under
stood in the market that the clause inserted
at his request killed the blll--that they
would not buy warrants with that clause III
the bill.
Mr.. Lynch: The Senator from Claiborne
has stated that the debt OF the State is fif-
teen millions. This statement is far from
being correct.
Mr.. Blackburn: mean the absolute debt
of the State. 'st-FE -s.
Mr.. Lynch: The debt proper of the State
was on the first day of May, 1868, as follows:
Total amount of bonded debt of the
state SlS35 SUD %
FLOATING DEBT OF THE STATE.
State certificates of iudsbt-
November5 OF 1896 SO. $4,000 90
Outstanding warrants against
the appropriations Of 1857
and 1858 .,................. no,2S2 %
Balance due on va
cant estate -. S5is59 ce
Received during