New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-05-03

$s,997 300. A Republican administrs atom.
extending from April, 1868, to the present
time, has increased the debt of Louisiana
$l0,O77, All sc. The ANDREW johnson DO
Icy" Legislature increased our debt s., ss7,-
300, as said. The first Republican Legis
lature appropriated $S,9il ,4S8, but did not
increase the debt that much. The second
Republican Legislature appropriated
$9,607 ,2e2, and the last Republican Legisla-
ture during its existence-this Legislature
that you are told il sguandering the sub
stance of the people of Louisiana-got along
with one-hsf Of the amount required by
either of it's predecessors, namely:$ 81, 269.
during the two years Of it's existence. Sem
ators must bear in mind that the expendi-
lures of the State of Louisiana are some
thing enormous, attributable to the topo-
graphical formation of the State, and the
necessity Of protection against ovelfows
that are now. a. speak, inflicted on those
for levees alone annually almost as much
money as would run an ordinary Common
wealth in this vicinity.
The administration there has been criti-
cised for what is called reputation of the
debt. With a debt of 81, goo, 900 in that
State, quite half of which is due to the
Democratic party, great portion Of it due
ton in which our levees were left at the
conclusion of hostilities in that direction,
and to the necessity that devolved on US to
repair them-with such debt expressing
Us what was to be done9 We had the alter
native to pay, to repudiate or to compro-
mise. The property holders Of that State,
who are in the main the Democratic party,
mended reputation; some Of them recon-
mepded the scaling Of the debt; and they
finally, through the instigation and by the
suggestion of the Chamber of Commerce.
submitted bill to be acted upon by the
Legislature, scaling the debt down to sixty
cents, so that although this somewhat
questionable expedient has been entered
into and adopted by q Republican Legisla-
ture, it was done at the request of and in
the interest Of the Democrats, and they
must not take exception to it.
Mr. COnkling How is it with people out
!. of the State. creditors; are they to take ex-
'e Er. W " st, they had better take
sixty cents, because if the Democrats get
into power they will not get q cent
ILaughterl How that action was viewed
by the Chamber of Commerce, Demo-
cratic institution, l will show.
Mr.. Sandidge offered Q resolution of
thanks to the Legislature, commencing
them fdr passing the funding bill and the
evident intention shown toward measures
in the interest of reform. ill
"Mr. Oglesby said such q resolution
ought to pass. The Chamber had advo
Gated the measure, and it was due to the
Legislature to thank them for their &C.
lion. -"
"The Legislature had acted more favora-
bly toward the bondholders than toward
rs If they had made it fifty per cent 1t
would have been an even thing; as 1t was
they gave them ten per cent the advantage.
The ChattanoUga bondhOlders were the
only ones who complained"
So the Chamber Of Commerce wanted the
debt of the State cut down to fifty cents on
the dollar, and the Republican Legislature
SAID mo; we think we can pay sixty, and
what the sentiment Of the people of the
State is in regard to that measure. know
that it meets almost universal approval
there, and where it is disapproved it is by
those who, if they had the power, would re-
lieve themselves of what they consider 3
terrible and unjust incubus, and would
repudiate every dollar OF it.
Mr.. President, want now to speak OF
the condition of business affairs in New Or
leans l want to give my convictions that
The interruption to business in Louisiana,
and especially in New Orleans, is not main
" due to political causes. can remember
the time when every pound OF goods al
most that was consumed west OF the Aile-
, ghanies, and the exception is 80 rare that
the remark is UNSUITABLE pound
was transmitted to that region by way OF
New Orleans. The first time that ever l
raised nv hand to earn my own living
did il on the Delaware river, in loading i've
hundred barrels of -four to go by the way
of New Orleans to the city OF st. Louls IN
1888. While ship loads would 60 to that
city of goods bought, in New York and
Philadelphia and Baltimore and boston;
for st. Louis, Louisville, Memphis and
Cincinnati. and whole steamboat, loads
would come down with produce that is now
transmitted by railroad, by the transconn-
mental lines of communication; 80 tnat pn
the matter of forwarding in New Orleans
the great supplies to the West, and the
great products of the West sent BACK 70
us we had large and industrious COIL
munity engaged. 5It, e.,
Furthermore, we had market there for
Western merchants. They used 70 resort
there. We had our palatial dry goods
stores, our extensive hardware stores, our
extensive boot and shoe trade, now gone to
a great extent But why comet From po-
htical causes9 Not altogether; At the out
break of the war, or snortly before II, Inc
railroad lines were just about .perfechug
communication across the continent, and
that means of communication, the direct
resort of merchants to New York and the
|. large cities of the East, competed materially
first with our lines Of transportation, and
next with our resources OF supply. New
Orleans was already beginning to feel that
the Mississippi had more mouths than one,
and that che did not cit the queen
of empire at the mouth OF the
great river. So it WAS The war came
on. closing up the mouth Of the MISSISSIPPI
river. closing up the dry goods trade, the
grocery trade, the boot and shoe trade, ana
the hardware trade, paraly zing the oou.i
and eIectrifying the North; and when - oa US
ness was resumed there, at the close OF inc ne
war. we found that our customers nau an
gone North. Our lines OF communicaaon
we're broken up. And we did more tnan
that. Mr.. President, we discouraged Nortn.
err capital from among us by refusing 70
consort socially with any man who dlnereu
POLITICALLY with the majority of the wnite
people there. These are some of the causes
10 which the decay Of business in New. VI,
leans lie attributable. l feel them and
Isaw that city years ago when it was .
mart busy with all the energies OF com
merce, now to . degree Perslyzed and its
property living vacant ana SEEKING fcr ten
ants Though the bigotry, IN Great meas-
are, and the prejudioes Of her people.
Arain. the debt Of the city We are taxed