The weekly Louisianian., 1872-12-14

the public revenues.
Reformatory legislation is not only
needed but practicable in the direction
suggested, and I urge such specific
attention to the subject and its gravity
demands. In harmony with the gen.
eral suggestions herein contained, and
without anticipating or f~orestalliug
the more elaborate recommendations
that the Governor-elect will make to
you when you shall meet in regular
session iu January next, l. deem it
appropriate to Gull your attention to
several particular subjects Of legisla-
tioc. '5:t" u
TILE PUBLIC DEBT OF TEL. STATE.
By provision of the constitution, the
maximum public debt Of a-period
of years is limited to the sum of $685.
000, 900. The impression has Obtained
that a large amount Of the State secu-
rites outstanding, are invalid because.
either created in violation Of the con-
stitutional restriction referred to, or
without warrant of law. Under the.
vague and inconsiderate legislation
that. has heretofore existed, said,
securities have the formal qualities of
valid indebtedness. So prevalent in
this opinion, that ,many of our most
substantial citizens are indisposed to
pay their ta1as, lest thessame should
go to satisfy these illegalpublic claims.
The circumstances considered, justice
to the taxpayers, nj less than than TO-
the credit Of the State, requires your
honorable bodiestotake adequate steps
not only to ascertain the amount of the
public debt, but the class of securities
that make up the same, that you may
enact such laws in the premises as are
necessary to protect both the citizens
and the State. =?
/" :, TEE PRINTING LAW.
The law now in force, though an
improvement on the one superseded
by it, is very defective. Whatever
reasons may have existed to justify IT'S
original enactment, its continuance on
the statute books, can no longer be
%vindicated, It is. Objectionable, not
only because liable to be used for par
tisan purposes, but also for its costli-
ness. It should be so amended as to
simplify it, restrict it to the needs Of
the State, and to remit the subject
matter of printing 70 the more imme-
diate control of the communities and
parties interested therein and charged
with the expense Of the same, :Z;.j
PRIVATE CORPORATIONS.
Probably moro than any other State
in the Union, Louisiana has granted
special and valuable franchises, and
has attempted, through corporations,
to do what in other States has been
left to private enterprise. Many of
these associations have succeeded and
become q benefaction to the State, but
others, eve with profered State aid,
have failed to comply with the condi-
tions embodied in their charters and
are an embarrassment and hindrance
to the industrial growth of the State.
You should institute a rigid. iinquisition
IN this matter I to ascertain mhe-ein
they have failed to comply with the
creating them. Not only for the
purpose of enacting such legislation as
will compel them to meet their char
obligations, but also for the:
purpose of placing tho proper
law officer is possession OF such infor-
nation as will enable him, in case OF
default on their part, to force them
into liquidation. 3y,-s.'s a#tit4 |.
In conclusion permit me to say,
gentlemen, that you stand amid sur
roundings significant and instructive.
We have just emerged from a most
exciting political contest. The, YER
hct of'the people has been pronounced
nationality and individual liberty.
Of individual bitterness or !
disappointment may have entered into
he late national and State election,
he people have, with great nnanimity,
declared in favor 81 the healthy, liberal {
md progressive ideas advocated BY the
Republican, party; andas in: the past, 4
in the future, thispatty OF progress, {
bearing the charities and the equities )
# the nation to all her people, North 4
nd South, white and colored,, holl.:|v
be reins Of power, and will administer $
he government SO as to secure, the, G
r~eatest good to the. greatest e ata number. 9
n the presence Of such: duty, and with :
generous purpose ahead. I beg =
on; gentlemen, nntrannme1ed4b BY dead :
sues or living prejudicest to address :
ourselves to the. honorable. and m a
aeonsible work before You, wishing 8
ou q happy issue to your labors. , n
P. 3. s. PINCHBACK. I n