New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1875-08-01
Is IT KELLOGG OR PRESIDENT GRANT 2

I sAhe disagreement OF eminent authOrl
ties can not be more strongly ILLUSTRATED
than by contrasting the opinion Of on
leading real estate holderswith that of Mr.
Peter, Cooper, of New York.
Our financial philosophers say positivel.
that the failure to install Fusion Cover
nor and the misrule of carpet-baggers
4 constitute the sole and sufficient cause O.
the present stagnation and decline of New
Orleans. Mr.. Peter Cooper, an octoge.
MARIAN, philanthropist and larger prop.
erty holder In New York than any mem
Der Of our association here assigns differ
chit cause for the nominal decline of all
values throughout the United States,
Louisiana included. Mr.. Cooper inquips
into the appalling causes that have SO
effectually paralyzed the varied industries
of our country Hsalso afirms'that-
This destructive cause has already shrunk
the value of property In less than three
years to condition where real es tate can
not be sold or mortgages obtained on it for
More than One-half the amount it would
udVo UIou8uG tuFcc years ago.
More than this:
This cause is Bringing bankruetcy and
ruin on millions of the most industrious
and enterprising men of the American peo-
pie.
While the real estate association is
confident that this ':first great cause, least
understood, is Kellogg, Mr.. Peter Cooper,
a real estate association in himself, is
equally confident that the universal ruin
islue to the fact that Congress ''resolved
that at certain future time in 1879 the
currency shall be convertible into gold"
1t is Q further and curious coincidence
that while the president eff cur association
relies upon the political Economists 70
prove that citizens may resist tax which
they deem unjust, Mr.. Cooper, the presi-
dent of his own real estate association, re-
lies upon the political economist Ricardo,
though bullionist, to prove that though
the introduction of the precious metals
for purposes of circulation was a most
important step towards civilization, yet
with the advancement of kno Wedge and
science we discover that. it would be an
other improvement to Danish them again
from the employment to which. during
The less enlightened period, they had
been SO advantageously applied
Here, then, are two authorities searching
after the cau@ Of national decline in
the value Of property. The one is Of
opinion that it is due to General Gnpt,s}
as the President Of the Union, and the
other that the same result, so far as it
appears in Louisiana, is due to the in
and action of Governor Kel-
ogg, and by inference that these sad !
effects might have been prevented by the |
installation of Mr.. John McEnery as
ioverhor;>with u cabinet Of real estate !
advisers.
We should think the wide difference be- I
,ween such eminent doctors Of finance |
should teach the public not to put such |
lbsolute trust In either as to go 10 cutting
ZACH others threats or shooting the negro
republicans about it. What if it should |
urn out that neither doctor is infallible2 1
What unavailing sorrow for the dead and I
What unlimited profanity for the folly |
which overlooked probable causes and !
practicable remedies for cala,n- /
ty which is alike common in its origin as
is universal IN its extent With any
mount Of respect for the ability Of Gov. |
rnor Kellogg, we can not admit that he |
las Been responsible for the present de-
line of real estate i'll New York, Or the
noneyed disaster throughout Europe, nor
hat he can prep9s any: nDstrupa or
'anacea which would enable Mr.. Cooper
realize on real estate mortgage more
han one-half of the amount it would have
'xaught three yeafs ago."s
We may presume. however, that Mr..
cooper and the Real Estste Association
hough belonging to opposite political
EXAMINATIONS, will unite in the opposi-
ion to elect at the mex. election, each
elng .oAvinced thai the decline In Zeal
state is due to the renominasion of
republican chief magistrate. Is it DOS
lble, however, that an intelligent people
III believe that decline SO general md
palpable should have arisen from anv
UGH cause as has been ass;oned