New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-02-21

OH Dduhk anu AAA OAo
ground then that to refer a bill of this char
acter to a special committee while there
was a standing committee fully competent
TO fully grapple with the subject, was a
direct reflection on the Committee on BANKS
and Banking, and l understood the gentle
man from Claiborne, (Mr. Blackmanl, 70
say in the same spirit that it was a olreCO
Election on the members of that commit
tee. l consider this case even a worse re,
Election upon the Committee on Banks ana
Banking, of which last session the SENATOR
from Claiborne (Mr. Blackmanl was CHAR
man, and this wear is not. / ask, would not
any candid man say this resolution Is a re.
Election upon the members OF tne presenG
Committee on Banks and Banking, and
40 the Chair who appointed theml |
Gpne the resolution will be referred to the
proper committee.
Mr.. Sypher-I object to this resolution
rnino to the Committee on Banks and
BANKING for the same reason that l eb-
iected the other day. Some OF the parties
who compose this are large
stockholders and directors of the Citizens
Rank, the fiscal agent, and l do not think
they should betintrusted with the investigar
tion of affairs pertaining to themselves. l
ask il Senator Lynch is not a director IN
this bank! ..
Mr.. Lynch-I am a director in the Citi-
zeUs' Bank, representing the State OF LOUIS
lana, and not any private interests OF my
own. | am prepared to have my conduct as
a director of that bank investigated by any
tribunal the Senate chooses to appoint:
Mr.. Sypher said he would still prefer to
have some one else appointed on the In
vestigating committee.
Mr. Lynch-I am there as the representa-
tive of the State. l may not have the capa-
perform the duties properly, but l chal-
Lawn on INVESTIGATION.
Mr.. Blackman-When thisr resolution was
introduced there was not the least lnten-
ton to reflect upon anybody. There is a
wide difference between the position l took
last session on this question OF referring
special measures to special committees, and
was introduced appointing a special CON-
uittee for the purpose of investigating a
hank bill. | held that the Committee on
Banks and Banking was able to take
charge of that bill. But there is no bill In
PRODUCED here the case is not Analogous
in any way with the case that came before
the committee at the last session. This Is q
resolution to appoint a special commlttee.
WHY q special committed Because this Is
a matter which requires special labor and
considerable investigation. TIL Committee
on Banks and Banking are supposed to
take up all their time in their regular labors.
In every session special committees are ap-
pointed to undertake special lnvestigatlohs
which the regular committees have not
time to conduct. /! would not nave con
sidercd it a reflection upon me II, when
chairman of the Committee on Banks and
Banking, a bill had been introduced into
the Senate to refer this investigation to a
special committee and not to me, but II a
bank bill had been introduced should have
insisted that it be referred to the Committee
on Banks and Banking. Surprising that un-
D--.-.l +%,.%a I hoI r,aHa this a
Joint resolution to appoint a committee OF
two from the House and three from the
Senate to investigate the chartered banks
of New Orleans, would not this be the ap-
pointment of a special committee, IRE.
s~oective of the Committee on Banks and
y Banking, to investigate the banks OF New
Orleans! There could be no objection urged
on the part of the gentleman ii it was a con.
current resolution. If it would not be a
reflection on this committee to appoint a
concurrent committee, why it should be a re.
Election upOn them to appoint this speciai
committee? 1t may be true that these gen
tiemen all discharged their duties faithfully
honestly and intelligently, but, as have
already stated, in the multiplicity of duties
devolving upon them in the investigation OF
bills, they have enough to do without being
called upon to make a long report on othel
business. propose, as a substitute to this
resolution, to call for the appointment OF a
concurrent committee on chartered banks,
.as required by Rays Revised Statutes.
The Chair ruled that it was not in order
to substitute a concurrent resolution tor a
simple resolution.
Mr.. Hunsaker said he regarded this resc
Luton as a direct reflection Oh the Commit
tee on Finance.
The Chair ruled that the substitute o.
the Senator from Claiborne Mr.. Blackman
was a new resolution, and was, therefore
cut of order.
Mr. Blackman said he would withdraw
his substitute, and would move tlat th'
resolution be adopted.
Mr.. Harris said if this resolution hat
come before the Senate last session ht
would have been in favor of referring it t.
a special committee. He opined that thu
reason of the change of sentiment on thu
rart of the Senator from Claiborne tMr
Blackman) arose from the fact that he hat
been left off the Committee on Banks AM
Banking. Senator Anderson was certalnl,
as familiar with banks and banking as th'
Senator from Claiborne (Mr. Blackman1
He moved that the matter be referred t.
the regular committee.
Mr.. Ray-It does not make any difference
where the resolution goes provided 1t is car
ried out. l think there are some very ia
portant matters included in this resolution
particularly with regard to the CONSOLIDATED
VII ANN'h1~N N-s
many years ago the State loaned her bond.
to the Citizens Bank and the Consolidated
Association, 10 enable them to 60 into busl
ness. The Citizens Association has paid th'
interest on the bonds as they matured, bu
the Consolidated Association has not dom
SO. The commissioners of that institution
have not met the interest on the bonds, AM
perhaps some of the bonds themselves tn,
State has been called upon to pay; and n
move has been made to investigate thes'
transactions. Therefore, it seems to me i'll
Dortant there should be either a joint com
mittee to look into it, or a special commit
tee to investigate these points. IT, the Com
mittee on Banks and Banking will Sc
about this investigation, there is no objec
ton to their doing it; but whether it be
longs particularly to them is a matter o
doubt.
Mr.. A~nderson-The Committee on Bank
and Banking nave very little business re
ferred to them. They have only two bill
at present, and / I'm satisfied they are viii
ling to discharge any duties this Senat
may impose upon them. If it is the desir
of the Senate to have the banks thorough
investigated, this committee will discharg
that duty. The gentleman from ClalbOrn
tMr. Blackman), who introduces this resi-
luton, is a member of that committee.
will assist him with all the energy l hav
In making the investigation, and l am salts
fed all the other members will do the same
As to the article of the constitution that al
plies only to the free banks, l believe Their
are only a few banks of that class In tn
city. The Southern Bank is one, and ths
is regarded as one of the best institutions i
this State. | do not know Of any othe
banks coming under this law.
Mr.. Blackman said he would amend IA
motion SO as to make it the duty OF th
Committee on Banks and Banking to inve'