New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-04-11
AN INFINITE WRONG.

Mr.. NJ. B. Brady has long held very
high position in our esteem as a sound
J and reliable citizen, who held his political
opinions in strict accordance with the best
interests of the community. We have
known him by reputation as Democrat,
but always as one who reprobated the
follies, prejudices and corruptions Of his
own partisans as much as we did. That
such man, with the sound business repu-
tation that Mr.. Brady has, should volun-
tarily place himself in the position that he
did the other night, when he publicly an
nounced himself to be in favor of repudia-
ton, astonishes and grieves us. 1t is a
position that can not be sustained in pub
lie life, any more than it can in private
transactions The men who have bought
the securities of the State of Louisiana are
honestly entitled to be paid: the communi-
ty that has enjoyed the money that these
securities brought are bound to see that
this debt is Cancelled. And they are still
further bound to distrust any man, how
ever honest he may be in his private rela-
tons, who tells them that they can be ras-
Gals and yet preserve their own self-re-
spect or the respect of the world at large
1t must be remembered that the debt of
Louisiana is not due to the prohigate men
who created it, but to the strangers who
bought our securities upon the faith of
our honesty. Orphan asyluIns, charitable
institutions, banks, insurance companies,
poor people, widows, in fact, all classes of
corporations and citizens are interested in
these securities, for they form the basis of
thousands Of monetary operations at home
and abroad. Men who have quit business
have invested their money in our bonds,
and now live upon the interest which the
State pays them semi-annually.
The savings banks, in which the earn
ings Of the poor are deposited, depend
upon their State bonds to pay these de-
positors. Asylums are kept up by invest
ments in such securities. Part of the
public debt that Mr.. Brady intends to re-
pudiate was created to assist the Catholic
Church, at his instigation. Part Of it
went to build the levees that protect his
plantation. Part of it goes to support the
courts that enforce the collection Of his
debts. Part Of it went to make the laws
that preserve his rights and liberties in
common with the rights and liberties of
his friends. Can he give these moneys
back? Can he settle with the strangers
who hold the bonds that he is enjoying
the'benefit Of? Is he prepared to have
others do by him as he is preparing to do
by others?
Mr.. Brady is responsible to thousands
Of people in damages. By collecting a
mob Of Democrats and creating fever of
in their minds, he is injuring
every interest in the State by shaking the
faith of the world in the moral honesty Of
the community. The bonds upon which
the old and the poor, the widow and the
orphan live are being deprecated in value,
which is loss to them. Business men
Are at sea, because they can not realize
lpon their securities Banks and money
enders refuse to advance upon the col
aterals that Mr.. Brady says shall never be |
paid. Has he studied these consequences? |
# he has and still persists in doing the |
injury that he intimated a night or two
,go, he will astonish us still more We |
10 not believe he ever went to the extent |
hat the Times says he did, for it is not
ike the man to do so.