The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-08-15
WHAT THE PEOPLE CAN DO.

| A great question IS presented to the people
of Louisiana to settle at the next election II
Is not who shall fill this or that office. Thai
Is, after all, a matter Of small consequence
| Ii bad or corrupt men are elected to office al
the next election the people may supplant
| them and elect better men in their places. Il
| there are objections to the constitutions after
| ALL all men concede it to be an Improvement
| upon that of 1868, and hold that it Is best to
accept 1t and make such amendments to it as
| experience may suggest.
| But the Convention has submitted to the
people q question to be determined outside OF
the constitution, and that question Is the rati-
fcation of the debt ordinance. And what
course are the people of this State to pursue
on this question?
We have seen that New Hampshire has as
sumed the cause Of Capitalization and under
taken to justify herself in becoming the
broker of the bondholders on the ground that
certain States propose to repudiate their
debts. No State or nationality has ever as
sumed SO disgracefui a role, and we can only
account for the action OF New Hampshire on
the ground that, being a Republican State
she has sought to give to the idea of central
ization the support of an effort to antagonize
the idea of reputation
But no idea Of reputation has as vet, found
Judgment In any Southern State. Certainly
no such idea has ever obtained any force in
Louisiana. When Mr.. Webster replied to the
inquiry Of the Barring Brothers as to the gecu-
rity OF creditors OF the States, while maintain
ing the right and power of the States, like
other sovereignties, to settle or compromise
their debts, he said:
If it we're possible that any one of the States
should atany time SO entirely lose her self-re-
sDect and forget her duty rs to violate the faith
solemnly pledged for her pecunary engages
ments, believe there is no country upon ear h.
not even that Of the injured creditor in which
such proposition would meet with less coJ1n-
tenanGo or indulgence than Ii would receive
from the great masses of the American people.
In these sentiments the people of Louisiana
fully and cordially concur, and, acting upon
them, the late Constitutional Convention pro-
posed plan Of settlement which It's members
regarded as just, both to the public creditor
and to the people. That settlement we believe
the people will ratify by an immense ma
jority.
Dissatisfied bondholders, bounded on bv
papers like the New Orleans Times NAV da-
mand more than is rendered them; they may.
indeed, acting on the advice of the Times. de-
mand the five and half mills tax and the !
per cent interest. But right-thinkinp men |
among the bondhoders will acauiesca in the
settlement and recognize the right of the
State to adjust the debt and the literallty of
the State Ia the terms it has proposed.
And now we have this to say to our fellow
citizens. New Hampshire has made herself
Inc representative Of the idea Of Capitalization
and She is attempting to sustain that idea an
the ground that certain Southern States are
attempting to repudiate their debts. Hence
New Hampshire boldly presents the cause of
the centralizationists.
Louisiana, over and above all other States
antagonizes the New Hampshire proposition.
LOUISIANA represents and maintains the pro-
position that the States are sovereign in the
control OF their debts; that reputation is
but that the States, like nations.
ire better able than courts to determine their
liabilities and their ability to pay, But as