The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-03-10
swIFFLEas ON THE STATE DEHT.
He Holds That the Debt should ne sn-
neflnIteIY sncreaked,

After several months OF apparent quiet and
retirement since last brought before the gaze.
OF an admiring public, in connection with the
yellow fever. with last years politics. and like
topics SmiffIins again comes forward to give
his opinion out men and things.
We say appnrenL quiet because. though for n.
long time SmifIlns has not been heard OF. yet
his gigantic intellect and extraordinary powers
Of conception and comprehension wore silently.
yet copGlusively. mastering the various prob
lens q local and national interest that have
been chalked upon the blackboard Of this State.
He knows oil about the workings Of the COM
bination that brought to bear all the changes
! In tho Custom House, but having been prom
ised S. 100000 by Mr.. Hayes not TO divulge the
dreadful secret he has softened and will not
saueal. He knows lots OF things more. but
smffitns, like truly modest man. will never.
NO never. bewider simple public with tho
/ full glare Of his stupendousl7 brilliant knoWl-
| edge.
smif0lns will tell what rs kGows.thinks and
proposes to prove about tho present vital
| questionable State debt.
| Our reporter eornered sminiins. and Turing
him into quiet secluded spot. far from tho.
gaze. hearing or approach Of the profane,
asked him point blank: "SmifGins. some person
| asked the PieaVtne II the State debt as 1t now
| 5LhHOS, bDDulu U5 UlIiI uOtiAE IOE uOIdEs
| "Ahem," replied the affabe and intellectual
Smiflins the old Iady Is unwilling TO venture
| an opinion, lest by shaking her head too vigor-
ously, she may unloosen her artificial dental
| apparatus and cause premature strangulation.
But sir. stand firm as to my teeth hair, nails
and everything else In my body. and will
shortly. suceinctly and lucIdly answer, The
State debt TO be paid In full, dollar for dollari
Young man are you nad2 Do you not know
that the debt. as It stands. ls the salvation Of
the State2 / wouldn't pay one-huudredth part
OF % cent on the smallest eouDOn-not darDed
bitl / am in favor OF increasing increasing
my reasoning you will be convinced. | hold
that the debt is the capital Of the State, because
the bonds. obtain By their aid funds enough to
lend money to the planters to work their crops,
and aid the commerce OF The CITY 1t you re-
duce the state debt, yoq eurtail he amount OF
bonds; you diminish the probable amount OF
money to be realized on tho latter; you limit
the field OF operations upon the bonds, and
consequently the reduction of tho debt. It's
} entire payment would be rulnous. ard would
inevitably cause the capital Of the state to tot
ter. This action. continued bmiffilns, will i'm
, poverish the. holders Of obligations. stop the
7 demands OF honest planters. and precfpitate
the State Into hopele IS and bewildering con-
ditlon OF a State without a cent of capital.
} That's what the reduction OF the State debt
, Now, therefore. If the reduction of the State
, debt by one-half would proportionately reduce
the capital upon which ips business 1s con-
| dueted, IL stands to reason tnat not OniV tne
debt should be maintained 80 II STANDS. put IL
We have true sta'emen and financleTs IN me ne
convention. they will work In such away ina tne
debt may be doubled or duadrupled, LaeTeOy
soyiDg the great problem, so long souRht, ,altsr,
which have now found ont, of procuring "
an Impoverished State Win Is" Riegss II ~ ~
parehLr ent and strokes OF the pen, all that IL
| wanting 10 make people happy ana contented
If capital can do IT, such as propose 70 turgisn.
| "Thaf's INV idea about the State DEBT. and eV-
arv AR minded right thinking Intelligent and
nhiIosouhjcal citizen would think likeWl5e.