The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-02-18

NEW ORLEANS, FEBRUARY Is. 1875
THE LEGISLATURE.
~ Senate
came to order ct IL O'Clock, quoruz
present
Al act was introduced by Mr.. Chadbour
dsaning election precincts, directing the mum
Der Of polls, appointing commissioners, etc
REARED. =.
A act VS. introduced by Allan to provid
1x the working Of roads and bridges IN Yves
Daeoa Rouge, eta ReSe1Ted E
Mr.. Alexander introduced IN cot to pro
vide for the better profession OF the inteses
tax money, defining tho duties Of the Trea
6arsa, ete Laid over.
An sct Was introduced by Mr.. Harper in
cooperating the town Of Greenwood, OAddo
ReleIled.
The following resolution vas offered by Mr.
Wtsrees. the House Of Representatives hal
he6ore il bill pSopoaDg certain amendment
% The Consultation, among which IL ono pro
hbitipg tho increase Of the public debt By
cay parish OF municipal corporation, etc.
AM Be 4 yssolued, That, in view Of the financial
depssesion now existing in this State, this
body Will pass no Law auth0riSiDg the increase
Of he public debt Of the State Of Louisiana,
BY any parish or municipal corpOratien within
said State; and that no law shall be enacted
aathorixing any parish or city IN this STATE 70
1ssue bonds, subscribe for stock or otherwise
grant subsidies to any private corporation, no
nastss What tie ebjsots md purposes Is Of the
n. Young offered Q resolution giving the
rre6wepce 70 al reform bills recommended
81 ths Governor and those Of the property
Aa1deeG Laid over.
~ cot vss introduced by Mr.. Twitchsll,
liking ths rate Of interest. etc. Referred.
Z n. Grover called up Senate bill 12S, IN cot
fslafive 70 the government and manner in
i, which cotton pcoss warehouse receipts shall
b issued, In all cases where such receipts
Ghall OF may be used - pledges OF collateral
Nseurity for money advanced, etc. Reported
1hvosably.
ne report vas adopted and the bill passed.
The special order Of the day, the incoFpo-
xntaon OF st. Patricks Savings Bank, House
blll,) W. called up and finally passed.
The Committee on Finance. reported UNA
vosably in the matter Of the Premium Bond
Plan bill, and assigned the following reasons
~ their report:
/. The unconstituHonality Of tho ct It.
~
z Il plAess al bonds Of the city on com
mon footipg.
). That Consolidated bonds ars, BY judicial
dssree, beyond the pale Of the law except BY
consent Of holders.
4. The bill fails TO place the questionable
dsbt beyond the operation Of the scheme
until the status Of said questionable debt 10
judiciAlly determined.
r mn Iii aaon,ea ona olass of honda In Tia
payment Of principal and interest in full out
Of funds specially Get apart for other pur-
poDea.
6. II gives Legislative sanction 70 question
ahle bonds, and would seeors the payment Of
principal and interest and possibly pre-
aium to bonds that might afterwards be de-
oaAred worthless.
z. Il would make the taxpayers liable for
The principal Of the present debt.
8. It would still give bond holders who 10
fased 70 accept the scheme the legal night to
oonpsl full payment on their bonds.
s The notariAl charter Of the New Orleans
Ridhc Railway came up.
Detiege, Stamps and Weber asked for .
1oadina Of the bill which was refeEred. They
claimed that it was not the bill originally
0Narod.
II passed its second reading BY vote Of 20
he bin was then taken up and read, and It
an.lly passed BY 30 ayes 70 nays.
Tho cot incorporating the New Orleans
1Geschants' Exchange, reported fAvorsbly
upon, came up3nnd was considered section
by section, and 4 finally passed.
Adjourned.
The House.