The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-02-21
THE Rondhold.r- ana the Pe0pte-"Out
with the Accused Fraud
T'Toiler" Ia the Claiborne Guardian


The Legislature has deereed that coDven-
. fion Of the people shall be assembled In April
next TO frame a new constitution Tor TINS
State. Delegates to this convention are 10 ne
elected In March. Then 1t is time the people
wnre acting for March IL close nj hand. IL
ts vitality important that the business OF this
convention be considered for the life and
prosperity Of the people depend on It's action.
This State IL over loaded and crushed down
with a fraudulent bonded debt that Is foul and
unjust. |. for one cav out with the damned
thing 1t is an old man OF the sea upon our
shoulders that will ride us to poverty and
DEATH and make beggafs, paupers, cheats
and liars Of oN children. linen repudlate u.
III the interest burthen of these bonds bears
so heavily upon us yearly, what will be the
result when the principal falls duep The
sheriff will sell the entire State, and this VIII
not pay all the debt, and then hire out the
people Tor life 10 pay the balance. say OUT
with the accursed fraud.
We want delegates to this convention who
have not only legal and political sense, but
also money sense. Delegates who are sensi-
well az the bondholder- that this bonded debt
Of Louisiana Is a fraud and an outrage, forced
upon tho State neiariously toenrich heggarly
adypnturers For we are told that Warm0th
borrowed few dollars OF the freshmen OF
New Orleans to make his first political
campaign; we know that Kellogg came here
a government employees and dependent;
pinchback Is reputed 10 be steamboat bar
Der. Now these men, and oil OF their ring,
are wsIlovinr In wealth. the proceeds Of
these spurious, these unrighteons State
bonds Out with all such bonds, say
Ills well t. cry we must maintain the honor
and financial iutegrityuf the State. Certainly
we must, but the honor and integrity Oh
Louisiana II not all involved In the repudi-
alton of these bonde-thts is the cry mainly of
the boudholders and their benelieiaries, for
Louisiana has 40 interest in these bonds.
But, for forms sake, admit there Is an iota
h.,sli inn an
isiana Is able to be generous, and perhaps
may say scale down these bonds to at least
one-thrd or their present demand, Tor that
will fully repay the purchase money with
compound Interest. In all cOnscenoe this
will be liberality enough, for Louisiana Is
Justly due nothing 10 these bondholders; Tor
these bonds were conceived IN sin ana born
in iniuuity, and the purchaser knew it-knew
IL from the fact that the world knew that
Louisiana, when these bonds We're issued, and
for years after the war; was In the hands OF
thieves. and thieves only. But these bonds
were bought on speculation only. II the
bonds are never paid we the BOND purchaser
40 reason ID will not Loose much, but II the
fool people Of Louisiana pay them we Will
have struck bonanza better than any Call
fornia gold mine. These purchases TOOK the
speculators' chance Then let him grunt and
bear the loss, small though IL be to him, wnen
we repudate the bond.
Obi some honest and liberal hearted tax
having patriot and statesman will say. II we
repudiate, the credit OF the state Will De
ruined: and then when she really wants
money she can't borrow a cent. He is willing
ca uin the people of the State to maintain Its
honor to feed aud fatteu the holders or stolen
! property. ] lay no claim to this patriot and
atatesman. But Louisiana has no business
borrowing money; let her live at home. wear
homespun clothes, and eat corn bread, as the
peonle do. and she will again grow strong
and soon accumulate money enough, or its
equivalent, aud ut home and within herself
Zoo. for all legitimate purposes.
Must we die slaves to these blasted bond
holders-live beggars that they may wear
fue inen2 Sold, too, into this slavery, and
doomed to this beggarly life by set OF
sscoundres who had no legal right to sell usf
That man who 50 insists is an enemy, or, at
least he is no friend to his people, and |, for
one. don't want him as a delegate to this con-
venton.
Some cry, Cut down the interest on these
bonds, and cut down the fees of the State and
narish officers" Stint our own people again
that the speculator may flourish! Very
xropd indeed But this cutting down would
not De a drop Of water in the bucket, be-
sides | repeat. can see no justice in starv-
ing our own officials 10 stuff the owners Of in
iuuitous bonds. And some OF our officials
even now cannot get their Just dues for
seryiccs rendered. on account OF the greedy
nav Of these bonds: and yet we must pre-
serve the integrity of our State abroad. Let
her stay at home and curse such integrity.
Louisiana can never prosper with this BOND
burden upon her shoulder Immigration will
shun her as d sane man would pest house
fine people will desert her in despatr-hel
burden Il more than she can bear. Then
repeat. and will continue to repeat it: Let Us
wipe out this whole accufsed mess, snake Oh
This load Of death, break asunder this bone
nd LOT more Dp Tree