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

mankind, which no respectable community
ever entirely disregards.
| therefore invite delegates to divest them
selves Of the opportunities of popular clamor
and address themselves to this momentous
question with the sole end OF reaching Just
conclusions, remembering that upon this de-
ponds the veal or wo of the State, and 70
that end invoke their patient attention while
FASHIONED reason, to lay before them the
views which think should govern our action.
All great public debts represent the needs,
eStravagancies, follles. wastafnlness and
frauds Of the several governments creating
them. By frauds i mean the creation OF such
parts Of the debt that the government failed
With hardly an exception, such Indebted
ness had It's origin OF greatest increase In
times OF war. And who has ever looked into
history, even passingly, that fails to realize
that the abnormal periods Of war, and the
disorganizatoDs and upheavals that follow
are those lii which the worst passions OF the
human heart-cupidlty and avafice-are
stiles aud disorders III the State for personal
enrichment
Debts created In those times and under such
circumstances tn the name Of States have been
recognized and carried by governments or set
tied, without close regard as to the uses made
III the money. Nor have they always proven
SO deleteriDns In their effects rs to prevent
prosperity. M ~
Thus England, though carrying an enor-
nous debt, has by loyal and unquestioned
adherence to the demands OF the plightetl
public faith always paid the lowest possible
rate Of interest, and that grand nation, on
whose empire the sun never sets, has by wise
government and iudicious encouragement
and development of the resources of her peo-
pie, enjoyed great, prosperity, in spite Of
The story Of the reign of Napoleon Ill,
which In Its brilliancy, and magniticence, and
extravaganza has been unequaled, Is still
fresh In our memories.
Encouragement of the artisan. the manu-
facturer, the agriculturist were the first care
of the empires never were Frenchmen SO
prosperous and so happy as during the twenty
odd years Of that singular reign. The taxes
imposed, though heavy, were as nothing by
reason Of constant employment, thrift and
Of the whole people; and when
the reverses came, as from one day to an
other, the startling indemnity demanded was
poured into the public Golfer to rid the soil OF
the enemy's presence. The French, trusting
implicitly tho pighted faith Of any govern
ment, whether past or future were willing to
give 1t credit to any extent.
Who believes that England, Holland or
France could have found the millions upon
millions, representing their respective debts
at the lowest rates Of interest, had 50 much
ls the question of their absolute adherence to
public engagements been raised2 @
Heavy taxation though an impeachment Is,
not necessarily incompatible with
any more than the relief from
financial distress necessarily involves repudi-
alton.
But we are told that the proposition OF the
is not reputation; That 1t contem-
plates only the rejection Of the illegal bonds
Of the State.
Let us then ascertain what Is population
This DONE It will be easy to say whether we
may properly 80 characterize the proposed
action or not. II we may do SO. 1t will be
bootless to object to the use Of the word, even
d1um; for this Convention,
and they who are to judge 1t, will look to acts,
not to words.
apo,ral of q public for obligation debt In that
sense 1t has been held Odious by all civilized
no citizen could ever hear the
term applied to his own State, without feeling
the sting Of shame coloring his cheek. Hence
The constituencies manifested wherever the
term has been applied Or misapplied to those
who believe that the debt Of Louisiana 10 rot
her true, legal Indebtedness. @
I shall use the term according to Its mean
Ing; and beg, once for all, to assure those
solely because they express my meaning
more clearly than any others, ! concede TO
all, as claim for myself the utmost latti-
tllde VI opinions, without question as to mo-
tiYes.
Criticism ID addressed to measures; with
ttuu HIUtiSES UhF5 llUGHlLlS W W.,
Mr.. President, certain great principles lie
at the basis OF all contracts, whether they be
those OF States or individuals. tits q mistake
to assume, as seems to have been done, that
one code governs individuals and another
governs States as to contracts.
III the case Of the United States vs. Bank
81 the Metropolis, Is Peters $780, the doctrine
s laid down In these broad terms when the
United States by it's authorized officer be-
comes 9 party to negotiable paper. they
have all the rights and incur all the respon-
sibiIittes of individuals who are parties to
such Instruments. We know Of no difference,
except that the United States cannot be sued"
Long anterior thereto, the recognized au
thority on the law OF nations, Mons. Vattel,
had laid down the same rule thus tritely: "a
sovereign Is subject to the same rules as pri-
vate individuals in matters Of contract
And this rational principle has been recog-
nized by the judiciary OF many of our States,
among others by that Of Mississippi. Is Miss.
764-5G:
The same principles which govern In mat
apply to all contracts to which State has be-
come a party. This rule is founded on the
hat sovereign States who aresup-
and to discharge their Just obliga-
ions. could devise no better rules by which to
ascertain their own obligations, and rights,
han those ACCORDING TO which they dispense
Justice to their citizens.
The principles which govern he case under
are distinctly laid down by The Su-
preme Court Of The United States In the case Of
he United States vs. Arrondo ct ais. 6 Peters
'91. The court in that case says that 1t Is a
universal principle that where power or juris-
ltction Is delegated to any public officer Or fri
ounal over subject matter, and It's exercise is
,ontided to his or their discretion, the acts 80
lone are binding as to the suhject-matter. and
Individually will not be disturbed collaterally,
or anything done In the exercise of that dis
,retion, within the power and authority con
erred. The only question which can arise be-
Ween an Individual claiming right under the
icts done, and the. public or any other person
tenying their validity are po,ner In the officer
md fraud In the party. Ali other questions are
settled BY the decision made or the act done by
he tribunal or officer. judicial. legislative or
.peela}. unless an appeal is provide for. =
And II matters not how erroneous that decision
nay be. or how fraudulent; unless the plrty
claiming right under it is affected with q
of the fraud. it Is none the less con-
Vattel says. page 229:
But to any contracted for the service Of the
State. debts incurred In the administration of
oubie affairs are contracts in all the strlctness
# law, and obligatory on the State and the
whole nation. which Is fndispensably bound to
discharge those debts. When once they have
,een CONTRACTED BY lawful authority the right
II the creditor Is ndef, asble Whether the
horroun6 h9s bapp cd TO boo