New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-03-18

to the SuDrOgatlOn OF Inc IASA.o Va ~
Jones and Huger. the former cons aaa 7 CON.
these gentlemen. II that be the case, COLI
ceive that it would be almost matte. Va
impossibility on the part of the Legisia.u.e
to resciud these laws, and it would Ce lahsa
mount to that, unless you give the s" w
rights to these gentlemen, as you sa,S
Messrs. Jones and Huger. nave hot t yH.
sll can gather is from the reading OF these
Neutrality-suspicious., and, therefore move, II IL
meet with the approval OF the frlends OF the
h,ll land hone it WILLY, that the further con-
sideratIon of the bill will be postponed until
Wednesday, and it then be made the spec:al
order of the day immediately after the read
ing of the minutes, and that the bill DO
printed. Adopted.
Mr. Lynch, under suspension OF the
rules. called UP "joint resolution authorlz-
ing the Governor aud State Treasurer, III
conjunction with the pledges to Negotiate
sale of bonds pledged in accordance wIh
Joint resolution entitled JOINT RESOLUTION
authorizing the, Governor and treasurer 10
negotiate a loan to supply any denclehcy
that NAV exist, to meet payments OF lnteles'
due and coming due on bonds OF the state
whenever g deficiency exists, the interest,"
thereon not to exceed seven per cent per
| annum. approved February q, 1859, ana 10
negotiate q loan to supply any dehclehcy
| that may exist to meet the paymeht OF inter
| est due and becoming uue oA ooii"' VI VA
State.n -
Mir. Lynch: At the hast session it became
neee ssary to make provision TO borrow
money to pay the interest upon the Indebted
| ness of the State. 4 joint resolution was
| passed for that purpose. The CitiZehs
| Bank has advanced as sloan within the year
| $500 GEO, in accordance with the PROVISIONS
of that joint resolution. The confusion
! incident sto the changes in the Auditors
| Office has prevented the matter from beng
adjusted. The object of this joint resoiu-
| ton is TO allow the Presi5ent OF the DARK
acting as Fiscal Agent Of the State, under
| the supervision of the Governor and Treas
urer OF State, TO sci! from time to time such
amount of these bonds as may be necessary
TO meet the accruing interest. Inc oahk
| has gone on meeting these engagements,
| surprising that these difficulties would
cease, and the bank permitted to so On
without asking any such eXpedlent as TINS:
| but this seems TO be the only way LETT, and
| it is only proposed to sell what tue interests
of the State may require as decided by the
President of the bank and the Governor
and Treasurer. 1t IS a simple necessity 10
keepup, the credit of the State, and AT the
bank which has been acting as the Fiscal
Agent of the State.
Mr. Blackman: At what rate are the bonds
to be sold?
Mr.. Raw: Let the Secretary read the bill.
The Joint resolution was read.
Mr.. Blackman: Mr.. President. L can not
say that am either for or against the joint
resolution; it is certainly very important
| measure; both that the interest on the out
standing obligations of the State should be
| paid and that it should be properly guarded:
/ move it be postponed and made special
order tor Wednesday next, at one O'CLOCK.
The motion was adopted.
MFR. Wittcenstein, under a suspension OF
the rules, Caled up House bill No. 2il, In
cooperating the Mississippi Valley Navlga.
ton Company.
Sections one, two and three were read and
adopted.
Section four was read.
Mr.. Lynch: move o strike out that Sec
ton.
Mr.. Bacon: wish to mako a statement
respecting the objects of this corporation.
This bill is 70 assist a gentleman OF my
acquaintance to build a steamboat after
particular patent. Some three years ago
| this gentleman, Captain De Haven, gave me
| information upon the subject of these plans,
| and he presented his plans to a great many
parties, from some of whom he at that time
got encouragement, and he also got the
Recommendation Of the Chamber OF Com
rnerce of this city. His plan Tor
| building the boat is simply this: That
| it shall be double-ender, and when 1t
COMES down the river 1t WON'T have TO turn
| around in order to make a landing. Ihe
next idea is to incorporate the hold into
compartments, so that If one OF these com
partInents gets stove in, the other portion
! of il will be Tree from water. | wish | could
| get the attention Of the Senate; there is so
much taking here; when they get through
| with their conversation L VIII proceed.
| And the third was that there should be dit
ferent sections or cabins. SO that people
| pNt,nT, II n
whether colorel or Chinese. The boat was
also to become sort OF Chinese pagoda in
| appearance, very ornamental and artistic.
| Well. sir, he tried these two special
particulars Of double euders and water
| tight apartments he. coud rot get
any patent for this Invention, Tor these
things were already in use, and he tried
I very hard to get men OF capital and lniiue nee
| to aid him in it, and failed. he Then tried
| to get steamboat builders and owners to go
| in and build boat which would cost Sl00,-
| 900, but could not get them; and finally he
| got I'D a company for this purpose, and they
| went around among the planters, the upland
people, who did not know any thing about
| steamboats,, to get their assistance. Now,
| this company, in which l have the honor OF
owning some stock, has come before this
| General Assembly, and proposes that the
| State of Louisiana shall furnish SlO0 600 to
| build this peculiar kind Of boat, which no
steamboat builder has yet been induced to
| undertake If il is deemed wise and espe-
dent to furnish this 500 900 to build this
pattern of a boat, of course l shall not OBJ
ject; but can not give my own vote to fur
nsh money to build q boat which practical
steamboat buildeNs have no. deemed practl-
cable.
Mr.. Lynch: Mr.. President, l move to
strike out the fourth section and give my
| reasons. It was not reported by the major
ity of the Finance Committee, but by the
| minority The reason | oppose 1t is that
| the State has no money to invest in expert
ments of this kind. / Claim that we should
| be Just before we are generous. Those hold
ing obligations of the State can not be
| paid, and it Isl unjust to them
that further indebtedness should be in
| Cured for mere experiments. We are told
bv one OF the stockholders of the expert
ment, that it is far from profitable one.
say strike out this section. Let the COM
pany 90 on their own hook and their OWL
money; give them one blessing, if it will DC
them any good but nothing more. L nope
the motion to strike out the section Will be
adopted.
MIR. Wilcox: Mr.. President, will state, IL
regard to this bill, that the company now IL
existence is very different affair from the
one spoken of by the Senator from Orleans
(Mr. Bacon). The comply he speaks OF, II
existence three years ago, is no
the one now organized. II is moi
the one now before US in this bill. Il i
true that some of the original incorporation
or originators of the enterprise are still in
terested, but it has been very much changed
: understand the company have combined
number of patents which embrace nearl.
: all of the good features, the latest and bes
improvements IN boats and machinery, tn
plan of the hulls and cabins. and ditferen
parts of the machinery. boilers, engines
, 80 This cOrnpapu propoua tn br,ild ON