The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-02-26

| we invest ole He would not support this bill
did il ask additional tux alton. rho people
could not stand this: but that was not asked
| The company only asked the credit of the
State to be secured by mortgage on tho fran
's IL b q he the a2s"sr and heavier
| work Of the road had been completed onnd TINT
But bundled i, miles q lEht Grade I'D @ bs
cheaper by fully half than 1t had eyer been
| since the war.
| !, IN opposilionto this bill, he vas peined to
| tho loss of tho State IN the bonds Issued to the
jackson rairond. He replied tllBt tbe road yot
remained md was thes source Of our eommun-
s,ads I'm Intion to the Opelousas road. He
was also referred TO The Chattanooga road an I,
| asked to review tho corrupt legislation Of tho
pecauae tiat vas Ill swindl's tbis must no b
| looked entirely to the pasf, while they should
ponder on the present for the sake Of the + f.
future all the JspollatioH of tho past. olIe then
went on ttastate The cheapnefs Of this road, and
| its probable returns as compared with others.
any question touching tho constitutional limit
| of tho State debt
| Mr.. JOINS replied that tho Third District
Court has derided . case. which goes to tho
| Supreme Court He did not bepeve the court
| WIS correct; ,eill he believed this judgment
| would not add $500 900 to tho dobt Of the state
Mr.. Aldgs suggested that 1t will add but
sano,0on and under no circumstances will tho
bill subject tho state to taxation. rs in tho case
Mr.. Leonard suggested that In case tho state
could by any contingency be made liahle under
tho bill. The fruilsoof the enterprise would DO
| improved values of property. increased revs-
nues, by tho time any liability could b. ma
tu,red,, -, go,
Mr.. Warmoth said he WIS In favor Of tho bill
and wanted Y, to SOC i pass tho House | have
am unwilling to accept m Amendment that will
n "a f, Inp Ia If hs ~
much Of this in 1867, wbeu was Impressed with
The strange, :, Inconsistency OF, tho logic that
our bonds in the declaration that tho bonds II
issued, would not % paid Iheso fano mon
Whn.oo .vtu. any tn',ugnL We pushI " navy
one 70 Gonsr ,n prGvlned thsy dl4 not Dhye 70
pay ,ot w. INC slato lnvpr9a tne Jaesao.ni yRe.
loH i IN. every hh',fohu exeont lne hoohe
WHEN nus hseh pun. by htale ala ana On tn i
slrensnI4 " sta.e p2has Wnnt 20 see this oil
passe4 W laVor on .lln laelile l,hlIoHu.
W.. nyons-h'y feelings are IN Eympathy WIN
t,ie IoMu. iael lls utility lna necessly eono
has net spoken. but loin tho minority against
lhg pl'l' because ~ WIN pe ~ lncteass 81 me
ep :" e The ha n H rnaaa s
beyond niz H. caanot vote for the bill because Of
M H. 1sonord - cadao nn,erru,tlne n,
Mr; LNomru' OF ohuun, llhterrupllhE fne
epeaeefh me y. bonus Whlen are asksu 70 pe is-
SUED wi'l pc. Pc inga nnll anu voIn. As UNDER
III, company ONLY, viii snirer -,
Mri Lyons resuthed they VIII 30 sold for
smhll value. n,
Mr. ,Leohafu; ihah Tue state ls saie ,,,
W. byohs-Hhl' sheh, ene bonus pe hvhh-
ontea NJ. , H.. ,,,., III,
mr., Inonntn- 10 naeause me railrphd u wv
hr Pro i1ae, ny .hn knnaah,oo iaom re state
,l !, the Interest WI DO pa'n on me bonds ,,
ne people says W Ra,n,tlehah from rlauue-
mines IRE u iavor ~ rallrohds. put refuse %
NOR, mo- Al innoptant tan ihis nne 'rhs Hfata tyI
he am nl ranompensea for the A. 600 600
for nv The road on account Of III" nIditinnni
riehes which # viii brinu to the nomm,nitv
Mr. Hilie,,. / ranolla,t when The same bill
was before the Honsa. when II was proposed to
nnnnnn ihis aitv with Nh revnport e'00' ~
r. 1900 ~ .a,,a,,a ,,,,a,ttl. ,.,,,, s,,oh
!nlletence on OPINION IL given. ms nnestloh
y SO moran. w. h,' snnuia tife mo u,souss
have n dsasresd u on he q tho p Some
say ~ y uneohs.ltutlonhl, bqt wnht ~ o. vltnl
int9res1 70 the state cannot DO called unoonstI-
-, There Is no money Ia the treasury to give TO
thls railroad or any other fohd loyy tax on
the peopl9i wouaa ase Whethof , we T.; nave PRO-
~. any ln.areE' W sfohsay III ~ ~ wun
nna aoHu hno W. VIZ, ah,iou ", " , ~
TeShe. VIII gre.tly improve ne state. put ION
1rmly 9elleying thM thls pm Is In direct con.
,aseh,,oh WIN ao nv ,h ~ iJ. N2
Tenehsd. but also tha' Whenever the valid debt
reaches certain ilinlh y must hnt Pc eSeeedod.
J, me bonus outstanding are dishonor 70 the
"
laughing stock 81 the European markets by is-
SUING p9 !,. agh,u t - ,. II,
to yos ae u1, o. tho b '' "
Mr.. Burph-l riso to exp Mn m, reaapns with
nut catering lhto any afgulnen,s. only Fly
hat no one Is more afep1y ndt WIN t a
eP , lhan m ysoii. II onu,u vote l9I tue
PHI without violating my constitutional obliga-
tons wou.a 40 IT,
would contribute to the welfare Of tho State. |
cannot reconcile. it with myself to vote for It
Either the amendment Of 1874 is valid or we will
have to recognize that It has no valid force upon
us. Its provisions relating to bonds become n
contract which cannot be violated, The net No. 3
of 1874 provides that there shall be issued 5000
600 of bonds; these have been prepared aud
are now ready to be issued when the fund
ing will DO completed. and before an,
the others. or we step Immediately beyond the
constitutional limitation: l, therefore, hold
that further issuance of bonds will infringe
the constitutional provision. / am sorry that
cannot agree with those VIII say that the State
debt will not reach sl2.n00.o0O There are yet
over 81 On0.OnO OF bonds and warrants not
funded aud more. over o. Ooc,ooo bonds de-
carsd not fupdnble by tho Funding Board and