The Republican journal., 1875-06-10
The Robbery of Louisiana.

The following summary of the state
debt of louisiana, at the commencement
OF the current year, was compiled by the
joint committee of the legislature which
lately investigated the accounts of the
state auditor, and is submitted in their
report:
F tnnd i9s aebt' roer, o. y! 4
Bonded debt proper. ......... D. 1874, 500 90
Contingent debt reported by Auditor 1855, 600 90
Contingent debt not reported by Auditor 6o 800 90
s4e6oi, l55 %
Auu lfusl Dohus ana bonds missing 993, 1914 81
To understand correctly what this debt
is to the state OF Louisiana we must look
at it comparatively The total debt of
the great state of New York, on the 3Oth
OF September last, was only Sl7 ,49l 800
alter deducting the unapplied balances OF
the sinking funds. According to the cen
sus of 1870 the population OF New York
was So, 139 and that population has in
creased to not less than t 100000 The
population of Louisiana at the same time
was only 12G, 9l5, and cannot be supposed.
under the circumstances existing in the
state, to have much increased, if at all.
Call it 800, 600, or one-sixth of the pop
ulation OF the state of New York and we
then find the debt Of Louisiana to be
eighteen times as great as the debt of
New York, proportonately to population
Proportlonately to property, the disparity
is still greater The census valuation of
real and personal property in 1870 was
Sc 800, 81 ,2G4 in New York and S349,-
10, 61l in Louisiana The debt of $50
100000 resting on the latter is one-sixth
OF the entire property. real and personal.
in the state; Il public mortgage encum-
berlng every mans estate to the extent Of
one-siXth of all its worth The interest
alone, at seven per cent, constitutes
tax OF more than one per cent. on the en-
tire taxable property OF the state. Think
OF it, and then consider whether the feeling
OF the property downing people OF Louis-
ana against the government of thieves
which has created this crushing debt and
against the power and the party which
holds that government over them, is any
thing to be surprised at If the piratical
career of the Tweed ring had been pur-
reduced the people of New York city to
so desperate Il state rs that of the people
Of Louisiana. The robbers of the Tweed
ring, moreover, did leave something be-
hind them, in the way of public works,
TO show for the public moneys which ran
through their hands; but the Louisiana
thieves have LETT nothing but the desolat-
ed and ruined State. The Investigating
Committee in their report say:
As to all that portion Of the public debt, created
since 1868, the state did not realize fifty cents
on the dollar, nor was the amount realized expend
ed for the benefit of the state to the extent of
than one half in other words, the state has not
been actually benefited in amount exceeding one
fourth OF the debt created, nor to an amount eN-
ceedng onehalf of the taxes collected since 1865.
Ihe entire bafdnce say oehd!f of all the tares and
three fourths Of all the present debt, have been
squandered or done worse with bv the admipistra
ton OF the government since that date
Who can wonder that New Orleans is
like & dead city, its business paralyzed,
its people almost hopeless Who can
wonder that public feeling in Louisiana is
arrayed with political bitterness against
the carpet-bagger and the negro in their
fatal alliance as politicians? What Won
der is there in the matter, except that the
wrath and despair of an outraged and
ruined people have not exploded ere now
in far greater violence than the worst that
has ever occurred2