New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-06-18

i for confederation, land, NJ. President. there
s. another reason why the Senate should
i not act upon this bill at the present time.
a The EreveGnes bill, which is an absolute
necessity, and which forms one of the
special features in the proclamation of the
Governor, has not yet been acted upon
and Mr.. President, from the progress and
fidelity of the Committee on Finance, it
seems sesaugerto me that that bill has NOT
been reported back. It seems to me that
our first duty is to take up that bill and
pass il. am satisfied that the Senate will
make some amendments to the bill. If
this funding bill is taken up now, the rev.
enue hill can not be reached until to- night.
When it is taken up, and amendments are
made, it necessarily has to 60 back to
the House, and if there is any disa-
preemeut between the Senate and House.
Ii can not becomea law the present session,
For these reasons, move that this bill
be postponed until seven o'clock this
evening. .,-f. ~.
Mr.. Ogden: Before that motion is put
desire to say that as usual thing bow to
the better judgment of my colleague and
friend, Senator Braughn; but think he
has erred in this simply because he has
not, as he himself confesses, had the op-
portunity to examine carefully this bill.
Now, Mr.. President, this bill, as I'M
derstand il, emanates from Mr.. Gaines,
president of the Citizens Bank, a. the
present moment Fiscal Agent of the State
of Louisiana. There is no question that
this bill is of the utmost importance to the
finances of the State. The floating debt
of the State Of Louisiana amounts to over
two millions of dollars. The appropria-
ton bill, which We will pass, amounts to
over two million five hundred thousand
dollars.
To continue this debt at heavy inter-
est is an injustice to the taxpayers. Now,
sir, as to the special order, Of the day, and
the reasons given by my honorable col.
league for the immediate consideration of
the revenue bill. This bill is in the same
position as the revenue bill, so far as the
proclamation of the Governor is concerned.
It has been favorably considered, not only
by the Finance Committee, but also by
some of the principal merchants and tax
payers of the city of New Orleans. and
they have unanimously agreed that this is
the best bill that could be possibly
framed under the circumstances. Now,
sir, do not see the necessity of postpon-
ing this bill. If gentlemen desire to con-
tinue the floating debt, let them defeat
this bill. The last night Of the session is
generally the stormiest night, and it is
almost impossible for any business to be
conducted properly.
Mr.. Lynch: We have q revenue bill now
upon the statute book, and the revenue
act we propose to pass differs very mate
rally from that. There is nothing in the
way of collecting the taxes if this bill
should fail. There is ample provision for
the collection of the taxes. By this bill,
there is means provided for funding the
floating Indebtedness of the State. I am
10 favor of selling the bonds for cash, even
if profit inure to class Of people that
am not on particularly good terms with.
But want the bonds to 60 through the
channels of commerce, leaving the State
forty years rather than have this incubus
Of the floating debt, that there is no
acted upon now If this is not the proper
bill, let us pass better one, but pass a
bill to relieve US from the floating debt |
that is now weighing down the State. |
/ hope Senators will rise above any per- |
sonal matter that may influence them in |
his. The revenue act is not 80 important |
as this, because we already have revenue |
act on the statute books. l move to lay |
he motion to postpone on the table.
The motion to postpone was laid On the
able, yeas %, nays Z, and the bill was
hen taken up, section by section, and
'ead and adopted by section without any
'urther debate of importance.