The People's vindicator. [volume] (Natchitoches, La.) 1874-1883, 1878-12-28
Pilfering from PetertO Pay Paul.

The State Funding Board has
failed to find a Bank willing to
"adyance" the January interest on
our "State credit" The Stock
Hoard-dear reader may you, nev
rr know what that is-bOunds to
their relief; and Mr.. Semmes, the
great lawyer, is employed by them
70 tell the Funding Board how, by
piIftring from Peter, they may
pay Paul. That the case may be
clearly understood, these are the
facts.
The present fiscal agent Cad
vanced" the first six months in
tprest. or what is known as the
july interest, on the State debt
for 1873. On that "advance' he
has due him, and unrc-emburscd
because collections are mostly at
hr ,Juiy, $50, 900; which, OfcOurse,
this accent wants returned from the
collections as they come in this
fall, and which is but fair. But
and now mark the climax-it is
diScovcred-in fact the discovery
is as old as 1S7G-that if this
amount is returned, then the in
tcrpst coupon holders will be short
exactly that amount; for the COL
Icctions, yearly, lack that much of
meeting the interest due.
MIR. SemmeS proposes in pompous
legal Stylc-as if pomposity could
cover diShoneSty-t0 select another
fiscal 0Wnt, who wil adrance the
Junuuy interest,"; and that acepledge
to him all that comes IN on the fill
collections of interest tax, and let
Mr.. Kennedy suck his thumb, so
to speak, for his S23O,OOO already
"adyanccd."
Now we submit if this is not
"piIterins from Peter topay Paul."
Nay, it is the merest trihng with
a serious matter. Is not what is
owed to Mr.. Kennedy, the present
fiscal agent, as sacred and honor
able a debt as we owe to those
January coupon clippers? And
Mr.. Semmes has the audacity to
talk of duty, when he stands up
the face of day backed by an as
sembly of stock broking sharks
who live by their pound of flesh,
and tells us it is our '|,luty" to
steal 1--WE talk plain englishD $780,
OOoo honest money borrowed in
good faith from an honest man
that we may by the act sustain
the ''hOnOr of the State.'
We tell Mr.. Semmcs for one,
that the honor of Louisiana will
not be submitted to his judgment,
ifthis be a sample of his qualitica-
tons.
The Funding Board hasn't taken
to Mr.. Semmes idea with the alac-
rlty which his hackers expected.
The plea of a paid lawyer is worth
to them as men of honor as much
PERHAPS no more certainly--as
the paper upon which it is written.
Mr.. Semmes torgets all but his du-
ty to his employer, and demands
their claims in advance of all
without regard to the merit of 9th
ers equally as good. The Funding
Board owe a duty to the taxpay-
or, Mr.. Kennedy, who has adj
vanced them money, and to the
coupon holders. They have no
right to play the part of advocates
when they must sitin judgment,
equal and exact, between all, Mr..
Kennedy's money was borrowed
for the payment of interest due
by the State LIST July, 1878. The
faith pledged was reimbursement
from the taxes to be collected this
year. That money must be re-
turned from those collections. The
honor of the State demands that.
most certainly; and Mr.. Semmes
with all his legal acumen and
sophistry cannot refute it.
What the holders of January
coupons may suffer or do we can
not say, but we most positively
protest against the suggestion of
Mr.. Semmes to rob Peter in order
4 e.