New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-09-19
COMING T0 THETR SENsEs.


: preciators Of the public credit are finally
G giving way to a more sensible course: The
REPUBLICAN recognizes with much joy the
evidence that the men who have hereto
fore delighted to throw obstacles in the
way Of public improvements because they
were authorized by Republican State adj
ininistration are now anxious to acknowl-
0 edge their errors and help to prosecute
these works by removing the faint
their previous conduct has placed upon
the credit Of the State. Foreseeing tie
great advantages that would accrue to
: New Orleans by railroad connection with
Mobile, Houston, Shreveport anda South
ern Pacific road, which we felt confident
would be built at no distant day, we were
the first to advocate the building of these
roads and urged upon the Legislature
the first that met under the present con
stitution-such legislation as would bring
about a speedy completion Of the work.
The great efforts, we had reason to believe,
rival cities, moved by the pro
gressive spirit Of the age, would
make to divert from :. New Orleans
a large portion Of her trade. through the
operation Of railroads. opened our eyes to
the necessity for railroads connecting our
city with the points already designated
The building Of these roads required capi-
tall and as we did not possess it III Lo-l-
isiana, we were compelled to induce capt.
talists Of New York. Boston and other
large cities to send down here the means
to build them. Capitalists are always eau
tious not to invest without an apparent
prospect of gain. There is nothing wrong
in this. And. to be secured in the outlay
Of money that would inure to the benefit
Of our city and State, the State was re-
CURED to shoulder part Of the expense Of
making these required public improve
ments. Her aid was to be given in part |
in the shape Of bonds, and their value de-
ponds on the credit Of the State. The |
New Orleans, Mobile and Texas Railroad |
Company have connected Mobile and New
Orleans by rail and the road has been in
successful operation over a year. It has
also completed the first section Of the road
between here and Houston, te1minatinga at
Donald8onville, and that is in successful
operation And the work was extending
rapidly beyond Donaldsonville. when
some Of our citizens, Influenced by
political madness and folly, came together,
three hundred strong and placed their
names to circular denouncipg the bonds
and notifying capitalists that the State
would repudiate them. This unwise pro.
ceeding Oh the part of the three hundred {
who questioned sets Of the
State government looking to works Of
vital importance, very naturally put a stop.
to the building Of the road. The ZEN. f
bers Of the company, had already advanced =,
millions Of dollars TO complete The yoad .
from Mobile TO New Orleans and from 3
New Orleans to DonaIdsonvillao when h
he frse section Of the road was completed :; y
he company. in accordance with law. re. Fl
eived the bonds OF the State 10 the :.
mount of seven hundred and fifty thou. Il
and dollars. These bonds weya intended o.
Q be used for the further prosecution Of Il
he work, but the action ot 5he 'sthree G,
Undred gentlemen" had q most damaging -
feet on the value Of the Bond. as we.! as X
le credit Of the State, and She company ~
etermined, as it appears. 70 60 20 sarthey
18th the work until confidence in the
onds could be restored. .Iany Of the
who hoped to tiaprosiate these ca
Dnds Of the State are now convinced th
their error, and are striving 70 remedy. ce
far as they can. the injury inflicted in Of
Of a cessation oS tie syork on Re
e railroad to Houston. ms
AT the meeting of Louis2anfans recently rel
Id in the New York Hotel in tie CITY to
New York, on this subject. Mr.. Upper p7e
IS called upon TO explain the condition wa
the enterprise. and stated that the com. sre
ny was embarrassed by q tlistrust Of the mo
ate securities, which had been created pal
a great measure by the action Of our ter
n citizens. He believed an expression an(
opinion on the part of our citizens. ia. ent
fable, we suppose, would tend to restore nei
lfidence and facilitate the aarly building the
the road The report .! the meeting rivs
Q furnishes the following further fndu. vat:
able proof that the gentlemen who con. res,
red to destroy the credit OF the State the'
put stop 10 the building Of the road plu1
ween here and Texas, and between fan
e and Shreveport, are tas. coming 10 is -
il senses: ,oo5
If, c. H. SIocomb referred ~ the cfrcu. ~,
signed by 300 citizens Of New Orleans. '-9I
Oh had probably done more to depre the
g the bonds than anything else and Tibe
in real estate he had nat o6jT s !a,,e Rep
mseH, but had procured the signatures ence
many others; buEthat the demand for liz
road had become 50 urgent that he ~
willing, and thought it right when he the
lned t. New Orleans to start q counter tfo7
liar, and to use all his influence to have ~.
zen more extensively sigued and circu 'lL9 !
/ than the original He thought this allies
b the best way to give effect 10 the de- moth
OF this meeting, and to meet the =. :.
st universal wish OF the people Of our fInd
: Tor the early completion Of this road. conn
le information Of the meeting held il aftey
York was formally laid before a meet. lite.
presenting the committee Of fity gen. hopet
n. appointed is aid the building of a tie p
2ad between here and Shreveport. indy:
e We're seventeen members of this men.
ill ~ present at the meeting, held in parish
-lanber Of Commerce with due Thi
unity, and the fact that one dollar = II rea