New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-09-25
DEMOCRATIC LEGISLATION.

Certainly nothing has tended more t.
the destruction of the State of Louisiana.
credit than has Democratic false legisla
ton. We will pars over in silence thai
portion between 1861 and 1865, until we
arrive at the time of the assembling of tile
State Legislature of 1866.
Instead of doing all that was in their
power to sustain State credit they seemed
to be determined to live only for the hour.
1t was at this time that they made the issue
of State notes and levee bonds. the former
| although receivable for taxes never sold
for more than ninety cents on the dollar,
The 9 Levee Bonds went begging at thirty
and thirty-two cents on tile dollar and
nobody wanted them at that.
All this occurred in the face of a Demo
cratic State government in which the good
people of Louisiana are said to have bad
the most implicit confidence. Now, it Ger
tainly does appear strange that such state
OF affairs should have existed under such a
happy and able combination of talent as
was manifested by the officials of State
and city governments. LeYee bonds kent
at about thirty or thirty-five cents on the
dollar for long while, and State notes
went down to fl ty and fifty-fve cents on
the dollar. The Legislature of 1866 also
passed an act torbidding the collection of
back taxes during the years 1852, 1868,
1864, and 1865
This law, as matter of course. mas been
productive of the very worst results, and
of positively no good whatever. State
securities, promises to pay were drugs in
the financial market until Just prior to the
assembling of the present Legislature,
since which time all State securities have
steadily advanced in price, and to-day
levee bonds are worth from fortv-eight to
hity cents on the dollar, and State notes
from seventy to seventy five cents on the
dollar. All this has taken place, uetwilh- |
standing the press OF New Orleans has done
everything it could to yiilify and malign |
the present Legislature. Facts are stub |
born things, and to disproye them some
thing more than words are necessary.
The fact of it is, the present Legislature |
is forced to tax the people in order to pay !
the debt contracted by the Democratic Lee |
gislature of 1866. The members composing
the Legislature are fully aware that the peo- |
pie OF Louisiana will never favor anything
IKE reputation, hence it Is that they have |
seen proper 10 levy additional taxes and to
enforce the collection of the back taxes
due the State and city. The people have
deferred SO long the payment Of their taxes
that they really believe it to be an act of
injustice for the State to demand it of them.
These taxes will have to be paid, and the
sooner they are paid the better it will be
for everybody. state credit will then be
reality, and the wheels of government
will again reyolye.
The press of the city and State are re-
plete with false statements IN regard to the
expenditures of the present government Of
BUR State. If people will only stop to con-
'lder for themselves they will very soon
determine how much Of ali this is truth.
Every citizen of the State Of Louisiana is
Interested in seeing the State resume her
ormer proud financial position, and every
nan can and will see ii before many
months have elapsed.
When Grant will be our next President
md peace and prosperity reign throughout
'ur land, then it is that we will see the
'ood old days the days of auld lang
yne, SPECTATOR. :