The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-12-15
MUNICIPAL FINANCES.


The Times, In Enthusiastically fippant
style, champions one set Of city bonds and
belabors those who appeal to the courts to
establish the legality Of their contract with
the city, and who decline to convert their
debt into form which they do not believe to
| be legal or comfortable to pre-existing con-
tract as neither sensible nor patriotic
The DEMOCRAT has no interest In nor
would 1t champion any particular class Of
creditors or debts. Our mission is to defend
the rights and interests of the people-the tax
payers The question Of the legality OF debts
must be determined by the courts. No one,
especially q public journal, can justly or
properly impugn the right or censure the ac-
ton Of creditors for availng themselves o.
their constitutional right Of resorting to the
courts to establish their rights and enforce
their claims.
1t Is grave interference with the exercise
Of this right to seek by outside influence and
suggestions and assumptions Of what courts
will decide, and grave misrepresentation as
to what they have decided, to prejudice the
rights or Islander the title Of parties engaged
In such Legitimate modes of determining the
obligations of the city. Impartial and indie
pendent journalism reDrobates all such inter
ferences.
The Times may content itself with the
organship Of one set Or creditors. In that
capacity alone could 1t assume. to say
what Judgments our high judicial tribunal
will render in particular suit; or usurp the
function of interpreting the constitution and
laws.
The DEMOCRAT abhors all such uses. or
rather abuses, Of journalism. It aspires to
be the organ and defender Of the people, the
taxpayers 1t submits to the authority Of
the constituted judicial authority, whether
favorable or unfavorable to special interests
In the case to which reference Is now made
pending in the Supreme Court OF the State
1t regards the question involved as Of vast
Importance to the people and taxpayers It
cares nothing for the bondholders. This
question may be- an amusing and harmless
one to the Times, but to the taxpayers very
serious One-whether the city shall be sub
jected to a legal debt OF four or OF twenty
four millions Of dollars.
SO far from being true, as asserted by the
Times, that the courts have thus far repu-
dated the proposition which is contended
for by these foolish" and "impracticable"
ltigants, the very case now pending in our
Supreme Court Is an appeal from one Of the
ablest Of our district judges, whose integrity
and impartiality are commended by all, ar
firming this very proposition. which 80 deeply
interests our taxpayers and citizens, to wit,
that their legal debt is $4,5OO,OOO, instead Of
s4,OO0.OOO. Should this judgment be affirmed,
how absurd, what an insult and mockery
1t is to the people, the taxpayers. to
pretend that they would be greatly oppressed
thereby Any one with half an honest idea
must see that tho effect Of such judgment
will be to secure the city, to serve as shield
and protection against an excess Of taxation or
q diversion OF large portion Of its resources
to the payment OF interest on bonds which
cannot then be legally enforced against the
city. This result is clearly perceived by the
great body Of our taxpayers and citizens. II
the decision Of Judge Monroe should be
affirmed. not dollar Of the revenue Of the
city, derived from present taration, could be
collected from the city for payment of the inter
est or principal of bonds. Herein the Times
exhibits profound ignorance, or grossly mis-
represents the effect or object of this suit.
The taxpayers, however, understand It, and
they will rejoice at such relief from burden
which tho Times and its bondholiiHg hackers
seek to impose on them for the next half centu-
ry. A judgment, affirming the claim Of these
parties to the suit now pending in the Supreme
Court 50 far from increasing the burdens Of
the taxpayers. will. we have assurances with
which taxpayers of the highest standing and
largest interests are satisfied. be adjusted
to the great relief of the taxpayers, on a basis
which has been frequently referred to in these