New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-03-02

Senate bills. viz:
Senate bill M. 2i5, an act for the relief Of
Centenary College.
Senate bill, No. 2l6. an act relative 20
road OH the Mississippi river to Bayou Bar
ataria, Jefferson parish, right bank.
Senate bill No. 10. an act to purchase 300
copies OF the Revised. Civil Code, by A.
VOORHEES,.
To ask concurrence OF the Senate in the
following House bills, viz:
House bill No. 27I. to repeal an act to
provide for the collection OF judgments
against the scvera, parishes Of this State.
House bill No. 30, an act repealins an act
relative to the town of Providence, i'll the
parish Of Carroll,
WILLIAM yIGEEs.
Chief Clerk.
MESSAGE TO TIE HOUSE.
The Secretary presented to the House for
its consideration:
Senate bill No. 1872, relative to life assu:
rance companies.
Senate bill No l79, for the relief of +. l..
Jewell, Of Pointe Coupee.
And returned House bill! No. -, ''tO
amend and re-enact an act for the relief OF
purchasers Of sixteenth sections, approved
March -, 1866" with amendments.
Also, enrolled House bill No. -, ratifying
paay, ETC., with the signature of the Presi-
dent Of the Senate.
And requested the signature CT the Speaker
20 enrolled Senate bills. viz:
To fix the terms Of the Distric: Court in
the Fourteenth Judicial District.
tn ss.,,a <n oh -,-rrt IpJlS
in the Bayou Ceurtablea:i," etc.
To form a new parish. to lie called the
parish Of Red River.
TO charter tire Upper Red River Raft
Company, etc.
Senate bill No. 49,, to facilitate commerce
by establishing the New Orleans Levee
Shed Company, etc.
EXECUTIVE MESSAGES.
The following messages were received
from his Excellency the Governor:
STATE CT LOUISIANA,
Executive Department ;
New Orleans, February p, 1911
To the Honorable President and Members o; the
Senate
have the honor TO submit. for the infor-
NATION of your honorable body, com
municatiOn just received at this office from
the Board OF Public Works.
H. c. WARMOTF.
Governor of Louisiana.
STATE OF LOUISIANA
Executive Department, :
New Orleans, February q, 1871.
To the Honorable President and Members of the
Senate:
am instructed by his Exceilency the
Governor to inform your honorable body
that he has approved and signed
IAN act establishing the Eighteenth Judi
cial District for the State OF Louisiana, and
fixing the time Of holding c0art therein"
q. d. BRAGDON,
Private Secretary.
STATE OF LOUISIANA
Executive Department,
New Orleans, February %, l3.l.}
To the Honorable President and Members Of the
Senate:
Herewith return without my approval.
an act entitled san act to promote the inter-
est Of commerce by establishing the Louis
iapa Warehouse Company. and guarantee
ing the bonds thereof"
l have no slecia! objection TO this act II
80 far as it proposes to establish the cor
pOratiOn to be known as the Louisiana
Warehouse Company. although i would be
much better that all such corporations
should be established under a general law.
con not consent to s. gu the bill. however.
because it provides that the State shall
one million five hundred thousand dollars
of bonds to be issued by the company.
Aside from the constitutional objection.
which l will urge, l think il an unwise
measure.
There can be 70 reason G vcn WHY the
State Of Louisiana should lndor-e CONNER
cial paper to be issued by the gentlemen
who desire to form this company in order
to set them up in an ordinary business. In
the past the State has properly granted sub
sides and loaned its credit to corporations
organized to carry out important works OF
internal Improvement, and public utility.
Such aid was given upon the assumption
that the entire State would be benefited and
enriched, and thereby the taxation diinI,i-
ished. But this is a private enterprise. cal
culated to enrich the Stockholders III the
concern.
1t is true that the work proposed may
promote commerce, by furnishing better
warehouse facilities than the city of New
Orleans now has But this is 10 more a
legitimate object of State aid than every
improved cotton press or corn Glib through
out the State.
When the bill first reached me supposed
it provided for the States Endorsement of
three hundred thousand dollars of bonds:
but npon examining section four find that
the capital stock is fixed at three hun
dred Thousand dollars, which may, however,
NC lucCcdSeu 10 ANC LINUS tii'tt hhouut
by vote of the stockholders. SGbse-
4uent sections provide that bonds may
be issued to the amount OF the capital
stock, and that after certain security has
been furnished the Governor shall iu'lorse
upon such bonds that the State guarantees
to the holders thereof the payment OF prln-
cipal and interest.
This is not good business transaction on
its face; if the company could furnish good
enough security to justify the State in in
dorsmg its paper, it ought to he able to
borrow the money needed, and which it
proposes to raise upon the credit OF the
State.
But the State has no adequate security;
that to be furnished may be worthless long
before the bonds mature; the warehouse
company may fail, and the State would
have the debt to pay.
The Legislature is prohibited BY the con-
sfitntion from mourning tljs liability. At
the last general election an dpendment was
adopted providing that priRr to 1880 the
debt 81 tie State ahaIl not e 20 increased
= = excee6 tHentysaye zhillj pns q dollars.