The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1874-05-08
NUTS FOR THE CHAMBER OF CON-
MERGE.

From the Chicago Times Of the I'd inst,
we extract the following illusions to KEEL
logg's favorite scheme, the funding bill.
which we find in the letter Of its spicy
correspondent from this place. The state
ments contained in the extract are rendered
more plausible when we know that when
Kellogg was in New York, he approached a
moneyed man, Mr.. John McCauley, and
wanted him to 60 into money making
schemes "down in Louisiana" with him.
1t is shrewdly suspected that this funding
bill was one of the schemes to which he
alluded:
The opinion is entertained by many that
this funding scheme is
RING JOB,
and that its real object is to convert illegal
into legal evidences of indebtedness that
this class of Indebtedness has been brought
up by the ring that secured the enactment
Of the so-callcd funding scheme; that the
result will be the depreciation OF the legal
bonds, and that the ring expects to make a
big speculation by the purchase OF these,
and then bribing the Legislature into the
passage of an act providing for their re-
cogntion at their face value. This, how
ever, is understood to depend upon the re-
cognition by Congress of the uslrpatiOn as
the de facto Government of this State. The
ring is believed to base its calculations
upon the belief that those holding legal
bonds will decline to exchange them at the
rate of discount proposed by the Funding
bill.
1t is given ont that the so-called Funding
bill was drafted and recommended by a
committee of the Chamber of Commerce
Even if such were the fact, it would not
render the measure airy more acceptable, or
rid it Of the suspicion Of bad faith; for it is
strongly suspected, and to some extent be-
lieved, that the President of that lnstltu-
ton, and some OF its members, have struck
hands with the Usnrper, and will indOrse or
approve any measure of his that promises
to put money in their pockets. This ring Is
believed to embrace the Usurper and few
of his henchmen, the President and few
of the members of the Chamber Of Com
merce, and the Board of Levee Commission
ers 1t is feared, in case the usurpatiOn is
recognized as the de facto Government, that
this ring will not only control, but eventu-
ally own the greater and better portion OF
the State
This ring is comprised Of men who have
managed during and since the war to always
be on good terms with the side or party IN
power And it is verify believed that if the
devil himself was to make his advent into
the city and could succeed in establishing
his power, the men who comprise this ring
would lose no time in establishing friendly
relations with him, and be only too willing
to recognize him as the de tacto government,
if it was to their individual interest to do
so. 1t is this class Of men to whom Kellogg
refers as the respectable portion of the COM
munity who are reconciled to his usurpation.
They are the men whose confidence has
been restored, and whose business has been
revived. This class OF our citizens and the
subsidized press has given Kellogg his main
strength in Congress. And it is this class
Of men who are aiding in plundering the
State and whose avarice has left so large
portion of her territory subject to overflow.
What say the members Of that dignified
and respectable body, the Chamber Of Com
merce, to such allegations as these, made i'll
the columns Of journal Of such standing
and circulation as the Chicago Times!
Is not the utilization Of their president
with the usurper, and his interest in such
schemes as the State-House matters, of
which, in the interest of their own fair fame
hey are bound to take cognizance! Can
hey permit their president to associate hun
elf with such men as Lowell, Mathews:
Wand and Devices in scheme, the
object Of which is to fitch from
he State nearly $1,000, 900, and still claim
or this body the respect and esteem in
which it has hitherto been held We opine
lot We thnk-and among all good citi-
ems and honest men there is only one
opinion in this matter-that the man who
axes advantage of his position and intu-
nee to engage in schemes having for their
hject the further improvement of this
,lready overbu rdened and sadly robbed
is more to be condemned than
70 who breaks laws from necessity, perhaps.
r those who came here expressly to plumber
nd despoil our people.