The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-06-14

9
gentlemen tell me that we are not Justified ID
declaring ny5hns a question Is to be deter
mined in the light OF history: 1t is not legal
question. .,,,,a, 49, ..f,,,, 49,, N ),
what was the financial condition Of the coun-
try just before the funding, scheme was con
snIved? The State was bankrupt. The States
obligations issued III tens Of millions had de-
preciated To about thirty cents, and no more
could De negotiated by !, whom " was nc nc
who had robbed rs, and for g double purpose,
too. To lessen the volume OF debt and make
the bonds appreciate In value thus making
speculation Next to lessen the volume anI
make the States paper again negotiable; and
then It was cunningly devised scheme of
canvassing the legal and the illegal bonds,
Warrants etc, go as to make IT ttnpnsslble 70
distinguish the good from the bad. !hls was
the greatest villainy Of them all. And now
they say to us, ''You cannot tell The good
nom the bad, and If you disown any we vii!
howl and hire the press to howl reputation
In your cars, ..,
or those funding transactions II they are
IN New Orleans, have them produced. NO,
sir we will never see them; their destruction
was part Of the plan. The same people who
bribed the corrupt Legislature IN 1870 are the
of their infamies; the same who are now say
ing the honor and fair fame Of the State by
shouting @repudlation;' the same who the
gentleman from Plaquemines mr. Warmothl
Graphically called "Carondeiet street gutter
snipe' And why not presume that they
were the people who conceived the ''funulng
scheme7'' IL is conclusion perfectly In ac-
cord with the condition OF affairs depicted ia
the third Of February speech, and perfectly
in accord with the character Of the people
who besieged the Legislature and piled the
members with brides and offered the $4,000
to the Governor.
Now, sir, we come to consider the present;
What Is the present condition Of the country?
DO YOU remember the picture painted by my
distinguished friend from New Orleans Mr..
Semmesl, who would have you believe that
Louisiana is the most prosperous State In the
Union2 He presents an array OF figures, tell
ing the exports and imports, the number OF
bales of cotton and number Of hogsheads Of
sugar and barrels ct rice produced. lie draws
d pictura-a most beautiful picture; but, sir,
The picture is d fancy sketch-a cheap chrome.
If bis picture were true, then, indeed, would
Louisiana be In a prosperous condition, but,
sir. it is not the case. ! will now read from
the testimony Of the members OF this COnver-
tioI1, as given to the chairman OF the State
Debt Commit
NEW ORLEANS. May -, 1879.
Hon. i. E. Kidd, Chairman Committee on State
Dea,. SRI answer to the several questions |
proponnded to me by your note Of yesterday. l
bog leave to answer that the iinanclal condi lon
and my PEOPLE expect relief from tho Convan- |
ton, The city Of New Orleans is burdsned with
the following debt, viz:
Bonded debt ,s17 600 900
Interest accruing thereon. 3,4Oo 600
Floating dept and judgments, ..., 2apoooo
The debt Of New Orleans 49,. s22, 400 900
50 much for the parish and city Of New. Or
sr4c th1A In mai nj
people 1t Ia still In q more precartous condition.
Ii what little experience have had III D. prac-
tee as notary IN h ~ city fer inc as twelve
two-thirds, Of the real estate is mortgaged. and
for what purpose2 To pay the taxes levied
In answer to your fourth question, / will cay
that In the year 1879 the assessment III this city
was $3.50 600 900, and In the year 1879 It, is SILL
cent higher than 1T ought to be.
- 80 -9'DW ". 4 B1ENvENU.
Sixth Ward. Orleans.
/ now read an extract from the testimony Of
Mf. Long, Of New Orleans.
sixth answer--T we-thirtis Of the mechanics
and laborers are now Idle. one Of the reasons
for the same is the high rate OF taxation anG
licenses. aud the conseqneDt depreciation of |
property to fifty per cent; capital has left Its
legitimate channels and sought other invest
ments more lucrative, such az State and city
b sach as nadng
seuuentiy there is no demand for building ma
ter1als Of any kind. and skilled mechanics and
penter sdown to the hod-carrier, arc to-day In
enforced idleness.
Now hear Judge Land:
In answer tosthe sixth have to say: That the |
people are becoming poorer and noorer every |
gre noW Ro wsTs
the end Of the year Is grave and serious ques-
ton with them. !, That after paying the cost Of
nothing lett as profit: and ,frequ ntly. Oh the
other hand. the planters are left in debt In a
word, The financial condition Of our people is
have The honor to be. very respectfully, your
2bedent TH 5tom Il III LANR
Gaddo
And now Judge Lyons.
decaaence In all Industries, enterprises and
values. The depreciation has been SO great |
that active capital has either been lost or with
drawn from the parish and the real property |
become almost worthless. Labor, unrewarded.
is dis contented and demoralized, property own
ers are discouraged and helpless, and the whole
population are In a condition Of deplorabe aud /
almost desperate fortunes, approaching want I
and suffering. Respectfully.
Representing Fifteenth Senatorial district.
Col. Lott of West Carroll parish, Delegate
McGloin OF Orleans, Joined IN his testimony
by 1854 citizens, Judge Marshall Of Catahoula
parish, all depict about the same condition Of /
poverty. Sir, this is not the condition depicted
by the gentleman from Orleans MR. Semmes)
This question, repeat, must be considered |
In the light OF history. Remember the tragic |
events that have occurred on the streets of
this city In the last four years! The city has
been camp. A monument is to be built at
the head of Canal street. This room In which
we now sit has history. Remember these
things appeal to you to decide that usurpa-
tion and tyranny can not give away the SOW
ereignty Of State nor plight the faith Of
generations unborn. To conclude otherwise
viii be to announce monstrous doctrine.
The gentleman from st. Mary (Mr. CAT
freyl, drew pathetic picture Of the gallant
Confederate appealing to us to defend
the fair fame OF the State. / too
would call time to be a witness-I am sure he
would conjure us never to seal with the seal
Of legitimacy, never approve that part OF the
iebt that constitutes the price Of our degra-
dation.
Now, sir, I am confident my people will
abide the result of our deliberations, however
,bar, r