New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-10-28

thtst DOQQS IL the halQS OF u oluSlc 'LlSCA
OF the city. 1t is power too great to place
in the hands of any one man. If this bill
fails-as | believe it Willis failure Will not
rest upon this General Assembly, Republic
can or Democrat, for undertake to say, for
the ia: lure of this General Assembly to give
10 the city the best remedy possible, let the
possibility rest upon those who were not
content to receive currency of the country
in exchange for city notes at par, but who
wish to swallow up by means Of large in
terest, payable in gold.
Mr.. Ray: Is there anything in the bill
which authorizes the exchange of these city
notes for bonds?
Mr.. Campbell: 1t is tantamount to that, rs
understand it.
Mr.. Ray: 1t could not be done.
Mr.. Campbell: Nevertheless the gentle
mans explanation does not reach my point,
which is this, that for these city notes the
the taxable property of the city is pledged,
aud the Legislature forces them to pay
them, and to pay them with an interest in
gold at six per cent. But l wish to remark
upon placing this power in the hands OF
single gentleman, to be appointed by the
Mayor of this city. Now, have nothing to
say in regard to the honesty and integrity oil
the Mayor of New Orleans. SO far AS am
acquainted with the gentleman by reputa-
ttunr ! am able to indorse the sentiments OF
the Senator from Ouachita. But 1t Is too
AANtL 4 lOHGI " litCG III luG iAaiAAo VI OA4N
man, no matter low pure and lofty MS
character or how great his integrity. say,
then, it is not the fault of this General AS
svm5ly that this measure, which was orlgl
ually intended for the relief of the city and
its employees, fails. 1t is the fault OF those
who have been endeavoriug to grasp too
much. Tie City Delegation did its duty in
reporting bill moderate in its terms and
carefully formed in its details. II it had
| been passed as reported by that City Delcga-
ton, the desired relief would have been
afforded. The failure Of the bill rs amended
viii be a lesson to those who have at
tempted to grasp everything, not in future
to Kill the goose that lays the golden egg.
Dir Braughn Mr.. President, will state
that DO not hold city notes-I am not per-
sonally interested in this measure one way
or the other; but Just here desire to reply
to the remarks of the Senator from the
Fourth District (Mr. Bacon) to the fact that
dishonesty is not Chargable alone TO the Re
publican members of the Legislature.
press my ignorance of any dishonesty on
tie part of Democratic members, and it
seems to me that no man should make an
assertion of that kind upon Republicans or
Democrats unless he has some evidence to
substantiate it. | will even 60 further, sir,
and say that know no act of dishonesty on
the part of Republican Senators, and until |
do l will certainly abstain from making any
such assertion. The Senator having made the
assertion, it must be presumed that he knows
what he is talking about and he is there
fore supposed to be Judge as to the men,
Der to which it is to be applied, and until he
does so he must remember that it affects him
as well as others. l would like to hear from
him before we adjourn something more
definite than that which he has expressed.
Now, sir, wish to say further that the
bill to which Senator Campbell has alluded,
reported by the city delegation, was offered
BY myself, and that this BILL now before the
Senate, is substantially the same, with the
exception that the power of disposing of or
negotiating the bonds is left exclusively in
the hands of the Mayor of the city. The
bill, as l reported it, met with the unani
nous approval of all the members of the city
delegation, and was so reported to this
House. do not deem it necessary, after
the arguments adduced on both sides, to
argue the merits or dement's of this BILL but
while on the floor beg leave to offer the
report of the special committee appointed,
a. follows:
have the honor to report that Senator
Lynch and myself-Senator Bacon refusing
to accompany us-went into the hall and
there found Mr.. Nader, who was identified
by Senator Lynch as the party that handed
him this communication, which reads as
follows:
NEW ORLEANS, October 20, 1868.
hereby agree to pay to bearer the sum
of two thousand dollars out of the profits of
H. B. 154, to be paid when bonds are sold
JOHN B. HOWARD.
Mr. Braughn: Mr.. Nader stated that
Mr.. Howard handed him this paper. We,
then, sir, after some search found Mr.. How
ard in the Governors parlor. The paper
was shown to Mr.. Howard, and he said that
9,
To the question by the committee whether
he had handed this paper to Mr.. Nader
{ Mr.. Nader being presently, Mr.. Howard re-
piled that he would necessarily have to
enter into some explanation; that he was
largely interested in the city money etc.;
but the committee declined to hear any ex- |
PLANTATION, and not being definitely answered |
whether he had handed the paper to Mr.. |
Nader the committee retired. The other |
parer, which hold in my hand, was handed |
me by the private Secretary of the Governor |
and reads as follows;
NEW ORLEANS, October Is, 1868.
81, John Newman, of New Orleans, Lou.
siana, hereby agree with John B. Howard, |
at-law of said city, to pay to the |
order Of said Howard one interest in the |
profits TO be derived from the negotiation of |
s. 100000 city bonds, to be issued by the |
city of New Orleans under authority of the |
General Assembly, and for the redemption
Of city Indebtedness. said interest not to be
less than ESQ, 00O) fifty thousand dollars, to
be paid out of the profits of House bill No.
l54, as soon as said profits are realized. This
n consideration of legal services rendered
n the preparation and management of said |
bill, and on condition of sale and negotia.
ion by (said Newman) me as financial
agent of the city of New Orleans.
"J0HN NEWMAN"
This is indorsed by John B. Howard, and
believe the committee agree that the sigma
.ure attached to the first document and the
Endorsement on the order or bill of exchange
are the same.
Mr.. Lynch: Mr.. President, wish In brief |
% notice the argument of the Senator from
Ouachita, in allusion to some remarks |
made. He pathetically appeals to us to
look around and see the condition of school
teachers, etc. That was figurative, but I |
nvoluntarily looked around the Senate
chamber when he made the remark, and /
saw, sir, very different class ofmen! The
next point he makes is that the message of
The Governor counsels population. / do
not so understand it. 1t is well known, sir.
that these notes were issued for currency.
10 be payable on demand, II Is true, but did /
any one expect, when these notes were
issued, that they would be paid on demandg
We're they not issued because there was
nothing In the shape Of money to be paid
out? No one receiving this money expected
y to be paid Immediately. Aud now, when
Ibis money has very doubtful legal basis |