The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-05-05
HOW TO RUIN A STATE.

Lie N0W xOEk HeFAtH Oi tHe HTbt luSLaut
In the course OF an article under the above
caption, says:
IL anybody wants to know how to ruin State
the net csTplste apd re
| stitutional Convention. now In session, The
so..called Democrats who control, that body are
aGt only Pent on running and E ID the
q ways to cheat their creditors; nol
yb these e 6a q dshSnp, v P ths
them would be the most effectual.
We confess that this unprovoked and I'm.
iustifable attack fills us with surprise, COM
ing from journal whose bold and manly
stand for Louisiana In her contest for freedom
In the struggles Of 1876 and 1877 won the
gratitude Of our people; o feeling more Of sol
row than OF anger animates us when we
resent this gratuitous and unealled for assault
upon q body which all fair-minded observers
admit is mainly composed Of gentlemen who
hold the honor and the welfare OF this State
as dear as their lives.
The Democrats OF Louisiana have selected
tried and true representatives men without
stain or blemish upon their characters, men
fitted by experience, many OF them distin-
gulshed by honorable public service, and all
OF them impressed with the gravity Of this
crisis In the history Of our State.
They come fresh from the people who have
SO long and 80 patiently borne the burden OF
fraud and miBgovernment, which in times
past was SO eloquently depicted In the col
umns Of the Herald, which paper needed but
to have referred to It's own files to have
learned the history Of State exhausted and
depleted by On excessive taxation and enor-
nous expenditures, ostensibly for govern
ment, but Id reality for the enrichment Of
spectators.
Has the Herald 80 soon forgotten that the
shrinkage In values and the excessive ex-
penditures Of the nine years ending with
1876 aggregated over ninety millions OF dol
lars
Does 1t not see In this fact alone an explana-
ton OF the impoverishment that spreads Its
baleful influence over every section OF the
State
It has no approving word for the exerttons
Of our people during the past two years to
pay the present rate OF interest," which the
Herald declares lis too high for d community
which means to pay and has sense Of
honor"
The fact liz, the Convention through COM
mittee has commenced an investigation of the
subject Of the debt, not with disposition to
"cheat their creditors" but earnestly invites
the creditors Of the State to conferences, with
a view TO the adjustment Of the bonded and
floating debt OF the State"
Unfortunately we cannot say that the bond
holders have met this advance In spirit cal
culated to promote o fair and equitable ad-
justment. No step has been taken by either
foreign or domestic holders Of bonds to indi-
cate that any concessions will be made to the
necessities Of the people, either as to the
principal or interest.
The warning language aimed at Louisiana
Democrats may well and properly be admin
istered to the class who stand, Shylock- like,
demanding their pound of flesh, and the "bus-
mess men" to whom the Herald appeals will
best aid In promoting the welfare of the State
by urging the holders. OF her securities to
cease their threats Of coercion, prepare full
statement Of their equities, confer frankly
and fully with the committees now anxiously
and earnestly seeking to solve this problem, go
full Of veal or woe to our people.
Our critics at home and abroad may as well
understand at once that the Convention Is en-
gagged In ascertaining the actual condition
and resources OF the State; that they are dis
posed to provide for the indebtedness of the
State to the full measure OF the ability Of tue
people to pay, and those who alIege DISPOSE
lion to ruin and disgrace the State by reck-
less reputation are guilty Of making wan
ton charge which Is unsupported by any act
Of the Convention.