The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-02-26
THE BONDS AND THE DEMOCRAT

|
A false and scurrlous article appeared In
the local column of the Times yesterday
morning relative to the attitude the DEMO
GRAFT has assumed toward the State debt
The substance Of the article amounts to
charge that the DEMOCRAT has been fed by
Carondelet street, and that, with gross In
gratitude, 1t has turned against the brokers
and declared for Reputation in the interest
OF some one of Its personal friends who has
borrowed large sums OF money and sold
short" The article also charges that the
| DEMOCRAT ID Interested In the speculation
and Is using Its columns not In the public in
terest. but In that of q bear ring. This, the
Times scribbler afiirms, Is the talk en- "the
street" Now. In reply. we have only to say
that the Times article Is a base senseless and
dastardly lie, from beginning to end. The
writer OF 1t Is liar, and If any one, on Caron-
delet street or elsewhere, has made any such
charges, he has lied In his throat. We use
plain vigorous language because we do not
know how else to answer ISLANDERS so foul and
false.
/ The habit many parties Interested In bonds
have Of vilely abusing every man aud every
paper and every public official who ventures
to differ with them as to the sanctity of the
State debt or the propriety of Expressing and
running the property and Industries OF the
State to pay an exorbtant rate of interest
on O debt much of 1t Of doubtful validity has
reached point at which 1t must and will be
resented. According to this privileged class
there is nothing sacred in government but the
bonded debt, every man who questions that
L. a rascal, repudiator and public enemy,
and ought to be suppressed. No mans char
acter Is safe against the insinuations and
fierce attacks of tffen who, gambling ia bonds
which represent all the sorrow. shame and
poverty Of Louisiana, have as little care for
the real interests of the State as Senegam-
ban.
Even Gov. Nichols has not been spared.
Hsintegrity of character and earnest desire to
do his whole duty to the country have been
, ruthlessly assaulted by the bondholders. Wheel
act No. IS of the extra Session OF 1879 TO
authorize the Board Of Liquidation to REIN
burse the Fiscal Agent out of the fun for the
redemption Of the public debt fu~i, was In
the Governors hands, and he vas consider-
ing the ACCESSIBILITY of signing-t' the specna-
tors In bonds, eager for d rise raised y cNmor
against the Governor, and vent 30 fay as to
charge him with interets motives because
he was not 80 prompt as they desired him to
Ibe. They did not In end that he, should ex-
lercise hi iufgm,nt rs to wha.t was best for
J, the state. Th,y had diotattsd the measures
thew wanted and assumed that it was the
duty Of tb, chief executive to instantly com
pIv with .leir views. More recently. when,
u afier Jason Of pestfIence and business de-
presdon, 1t was impossible for the tax
} ga lerers TO WIRING from the IMPOVERISHED
Taxpayers th9 thirteen mills levied upon
| them, ana tha State defaulted on its interest
Q howl of/abuse against the Governor, the
| other State officials and the Democratic
party Went up which astounded the country
The columns Of the New YORK and other
Eastern papers and of the Times and Plea
| gtne here teemed with articles denuncia-
tory of the State, It's government and
It's people. In New York we were painted
as community OF rogues, regulators
and swlndlers. We do not believe any right
thinking man could read the false and
abusive articles printed In the Northern
papers against the Governor and his officials
without honest Indignation. And now pri-
vate kilograms from Washington and New
York inform us that the Eastern bOndholders
are encouraging the prosecution OF our fell
| low citizens in the Federal courts with the
! hope that thereby the Democratic party will
be demoralzed and that Republicans and
Conservatives will obtain control OF the con-
vention aud save the 5ls mill tax.
With these facts before us, OF course we
| could not expect the DEMOCRAT, when 1t ad-
voCated the REIMBURSEMENT of the debt, to es-
cape denunciatiOn, abuse and gross misrepre-
sentation. But none the less we shall do our
duty to the people. as we see and understand
| II, honestly, fearlessly and firmly. The DEM
oCRAT has not a dollar of interest In bonds
it will make nothing whether the bonds go up
or down. We have nothing to do with bonds
or other Investments and speculations of
gentlemen who happen to be our friends. The
DEMOCRAT has never made dollar except
by its legitimate business, though II our sense
OF honor had been as dull as that Of some OF
our contemporaries, we could have made q
| great deal out of bonds, rings and specula-
/ tiOns.
! In referring to the bondholders we do not
mean to charge all mon who own bonds, or
even all who speculate in them, as inimical or
Indifferent to the public good We know
there are many true and worthy men who
own bonds. II Is the Indifference of the great
body Of these men to all public interest save
| the debt; their abuse and utilization of every
man or journal who does not speak on this
question as they wish and as they dictate,
that we resent and condemn. This is ques-
| ton which should be discussed with calmness
and moderation, and If the bondholders go
on with their war Of defamation 1t will be
| only tho WORSE for them In the end Mon
who retail infamous falsehoods as those
printed in the Times yesterday morning are
more dangerous enemies of the honest bond
| holders than Is the DEMOCRAT.
THE REPEAL OF THE ELECTION LAW.