New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1877-06-02

vent, M Wild Witll, the rise e p0ait1
enthusiasm. But thu political inhue
has now spent all its force; our Del
cratic bulls are loaded up with boz
which they bought at fPcm 70 to q
that the wiser speculators Of New 70,
Amsterdam and Liverpool got three
'foRr'months before for 67@56: At
present fancy rates nearly all the sales
limited to New Orleans spectators.
New York market is and has been
some time fully two per cent below ia \
with trifing sales. Whether the reasc \
given by the Commercial Advertiser in |,
following article have any real infuel !,
on the New York market or not we y
unable to say, nor have we ever befo q
heard that any 'sympathizing banlE pre-
dent" of that city had agreed to do /
needful to help our bulls, the FUND.- y
Board and the Fiscal Agent in keep
our bonds high up in the eighties, for
purpose of catching the wise old fnsncia
of Europe, who helped themselves VI
literally to our eonsols when it was
sense of "this community" that Il
should be borne down to the ruinous
ure of fifty cents on the dollar. The
lowing is the Commercial Advertisers
ticle:
We are satisfied that no good faith
Northern holders of Louisiana or Sor
Carolina State bonds is intended by
promises of resumption of interest VIII
come from New Orleans and Columbl "A
Neither Nichols nor Hampton mean 4
hasten, much less force, the collection
overdue taxes for this object In Nd I,
| Orleans the Neutrality-suspicious. have riep Z
a market to tempt or deceive a specu r
! ton in the bonds in New York. Thus y
they have not been successful in ''ropi n
| in" new buyers to any perceptible exteu h
but they have no doubt tempted previoI 4
| owners of these bonds, at the North y
hold on to an investment which has SUI M
| denly advanced in the maEket at New N
leans from sixty to ninety per cen 4
| Governor Kellogg had been paying ints d
| est on the bonds scaled and consolidat ,
| at sixty cents on the dollarregularl sim a
| July, 1874. He, or his successor, Mbr
| Packard was collecting, taxes and laud 4
| bly, engaged in paying the January, 1871 N
interest through Messrs. Winslow, LAM !
i Co., bankers, of this city, when ID n
/ Nichols inaugnrated q civil revolution 4
New Orleans and notified all taxpayers D :
to pay penny to the Kellogg Packs i
| government, and the State had to stop ia n
/ ment on the January interest when abO& \
half the coupons had been honored. It WI
thought best at Washington, on
incoming of Mr.. Hayes, to leave n
Nichols to do as he liked, and Govern
Packard was overthrovn, but not withO
great prosestations Of good gOvernms 4
and honest public faith from Michel e
The fruits of these promises the Norths h
and European bondholders are now ma
sensible of in the postponement of tar u
and an effort to borrow money at Z N
! North to resume interest," payments nd
fall 1t is said that a sympathizing bs :
president in this city, after the late ban
ers of the State had refused to lend
such frail security as the parole
Nichols, had agreed to do the need III
until the taxes can be conveniently I
lected. But the story is questionable
is not consistent with the reputation D
the bank president alluded to for shrsV J
and safe banking, AS to, Hampton az
his South Carolina credit, the promisl In
are quite as empty as from LouisisnI III
The interest on the consolidated bon v
will not be paid this fall or next spriI IA
The taxes will not be collected. TSe
Northern creditors are to be put off WITH
promises never likely to be kept. And /"
is safe to advise all people who are so 4 h
tunate as not to be interested in Sou
Carolina bonds to keep out of them. d