Wilmington journal., 1868-03-20
MORNING SESSION.
SATURDAY, March IA, 1

SATURDAY, March IA, 1868.
The Convention was called to order at the
Prayer by the Rev. Mr.. Lennon, Of the
convention.
Mr.. Durham arose to a question Of priv
ilege. He wished to hear from the commit
tee appointed to enquire into the alleged
frauds in his election.
Harris, of Wake (negro), Chairman of
that committee, replied that report would
be submitted on Monday next.
SPECIAL ORDER.
The report Of the committee Of II, to
whom was referred an ordinance entitled
an ordinance providing for the restoration
of the public credit, was taken up The
committee reported back the ordinance,
recommendingthe passage of the same, with
the following amendments:
First, amend the title of said ordinance,
so as to read, 'An Ordinance providing for
the payment of the interest Oh the Public
Debt"
Secon| In line s, between the words
'' for and g OF, " strike out the 10th line,
which reads as follows "And the rcstOra-
ton of the public credit
Also, add the following rs a fourth sec
ton:
This ordinance shall be in forco and
take effect from and after its passage"
Mr.. Abbott arose and advocated his Or
dinance and resented the charge that it was
a scheme to advance the interest of Wall
street. AS proof of his desire to further
the interest Of the State he alluded to his
advocacy of the different railroad enterpri-
ses. Very nearly all these bonds were in
the hands of different corporations in this
S+o4c on3 not =, bo pf NoiJ
spectators. Mr.. Abbott continued for
some time to show how necessary it was
to put the State bonds upon a firm and
solid basis before the Internal Improve
ments, now organized, could be carried into
effect. To substantiate the above asser-
tion, he road a letter from the President of
the Western Railroad Company, declaring
that the State must pay interest on her
bonds before the companies that held them
could make them available.
Mr.. HOdnett said that he was cXcecding-
ly unwell, and therefore could not enter
into any elaborate argument upon the mat
ter. Those bonds, to which the gentleman
alluded, were in the hands of parties that
have not yet put them into market, and
they being unexpended, it did not follow,
as the gentlemen (Mr. Abbott) argued, that
unless the people were taxed to pay inter
would be lost. Almost all of the old bonds
were in the hands of Northern capitalists,
and he opposed the policy of taxing an i'm
poyerished people at this time Of their dis
tresS, to pay the interest on those bonds.
He was no repudiator, he would never vote
for or sanction repudiation of any kind Of
debts. But the thing he most complained
of was an evident purpose on the part of
tho leading men on this floor, to loGislate
for all interests that were Northward, and
our poor old State and her interest are left
completely IL tho back ground Here,
gentlemen, is an ordinance that proposes
to tax this poor people for over million
of dollars-and for what To fill the
pockets of Northern capitalists. The ordi-
nance says that the Legislature shall pay,
in cash, the interest falling due on and af-
ter the LIST January, 1869, upon that por-
ton of the bonds of the State which are
dated prior to May Goth, 1861. Now, how
is this money to be raised, save by further
grinding down our poor people ? l have
no doubt that on yesterday the Brokers Oh
Wall Street were made glad by the passage
of the measure. [ will warrant you that
they received the news in twenty minutes
after it had passed. [ repeat, sir, and
charge, that, in the person of some gentle
men, Wall Street is represented, to the de-
triment of our old State. What do our
eyes behold every day We see Northern
men, not members of this body, continual
ly III the lobbies, evidently more interest
ed in the proceedings than one-half of the
delegates Here is Mr.. Tourgee-a boy
and stranger boy at that-Who has com
pletely overturned our time-honored and
revered judicial system and how was he
allowed to do it ? Simply because he is
allied to the Northern influence that com
pletelv rules this Convention.
Mr. HOdnett continued to address the
Convention on this subject, and, in clos
ing, he alluded to the unjust provisions Of
the Reconstruction acts. He said that he
felt hurt and mortified, that the Govern
ment of his love and devotion should turn
it's back upon friends that had never for an
instant faltered in their allegiance.
Mr.. II. proceeded to show the other oh
iectionable features Of those acts, when
Mr.. May called him to order, sayiD s
that his time had long since expired, and
besides, the Reconstruction acts had moth
ing to do with the subject under debate.
Mr. Hodnett then took his seat.
Mr.. Heaton characterized NLr. Hodnett' 5
remarks as being uttered simply to cngen-
der a feeling of bitterness and prejudice
between the natives Of the State and gen
tlemen of Northern birth.
Mr.. May took the door III advocacy of
the ordinance and made n speech OF some
length, during which he said that the rea-
son Southern white men were prejudiced
against Yankees or Northern men, was
that they (the Yankees) came among us
and knocked of the chains and fetters OF
the true and loyal men.
MIR. Welker said, so long as they had
adopted in the Bill of Rights section as
suming the old State debt, il was just and
proper that the Convention should make
some provision for its payment.
Mi. Durham said that he had opposed
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