The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1879-07-25


motion to reconsider the vote by which
the State debt ordinance was defeated.
The previous question was called ON
the motion, which was ordered-yeas
60, nays 8. The motion to reconsider
then prevailed-yeas ~, nays II.
Delegate Cunningham moved to re-
consider the vote by which the ordi-
nance was adopted ON its second read
ing. Adopted without division.
Delegate Lyons offered the following
substitute for the entire ordinance:
Article I. Be 1t ordained, That the
interest TO be paid on the consolidated
bonds of the State of Louisiana be and
is hereby fixed at two per cent for five
years from January I, 1880, three per
cent for fifteen years, and four per cent
thereafter; and there shall be levied an
| annual tax sufficient for the payment
of said interest, not exceeding three
mills, the limit of all State taxes being
hereby fixed at six mills; provided, the
holders of consolidated bonds may at
their option demand In exchange for
] the bonds held by them bonds of the
denomination of five, one hundred,
five hundred and one thousand dollars,
to be issued Mt tho ratio of seventy-five
cents ON the dollar of bonds held to be
surrendered by such holders; the said
new issue to bear interest at the rate of
four per cont per annum, payable semi
annually.
Art. 2. Be it further ordained, That
the holders of said consolidated bonds
may at any time present their bonds
agent to be appointed by the Governor,
one in tho city of New York aud the
| other in tho city of London, and the
said Treasurer or agent, as the case
may be, shall indorse or stamp thereon
the words ssinterest reduced to two per
cent per annum for five years from
January l, 1880, three per cent for fif.
teen years, and four per cent thereafter;
provided, that the holder or holders of
said bonds may apply to the treasury
for an exchange of bonds rs provided
in the preceding article.
Art. 3. Be it further ordained, That
the coupon of the said consolidated
bonds falling due first of January, in
the year 1880, be and the same is hereby
RENTED, and any interest taxes col
lected to meet said coupons are hereby
transferred to the account of tho gen.
eral fund, to defray the expenses of the
State government.
Be it further ordained, and it is
hereby ordained by this Constitutional
Convention, That tho foregoing provi-
siOns and articles relative to the consol-
idated debt shall not form a part of
this constitution, except as hereinafter
provided, as follows:
At the election held for tho ratifica.
ton or rejection of this constitution 1t
shall be lawful for each voter to have
written or printed on his ballot the
words, stF'or ordinance relative to State
Debt, or the words, "Against ordi-
nance relative to State Debt" and in
tho event that a majority of the ballots
SO cast have Endorsed OH them the
| words, "FOr ordinance relative to
State DEBIT" then the said forcg oing
| provisions and articles of this ordinance
shall form part of tho constitution
submitted If the Same is ratified; and
If a majority of the votes so cast shall
have Endorsed ON them the words,
"Against ordinance relative to State
DEBIT" then said provisions and arti-
cles shall form no part of this constitu-
ton.
The yeas and nays were demanded
on tho substitute and IL was adopted
yeas 65, nays IS. The vote in detail
was as follows:
Yeas-Delegates Baskin, Blanchard,
Bolton, Bourgeois, Breaux, Breen,
Brian, Bulger, Burton, Caffrey, Chaffe,
Cnl0pella, ClalDOrne, Collins, GOWN,
Cunningham, Davenport, Davidson of
Claiborne, Davidson of Iberville, Denis,
billiard, Easterly, Edwards, Favrot,
Forman, Gaskins, George, Girard,
Covers, Hazard, Henry Of Natchi-
toches, Heron, Howell, Jastremski,
jenkins, JoArion, Kemp, Kernocfan,
Lanaux, Leake, LeGardeur, Jr., Marks,
Willard, Moore of Lafourche, Munday,
Mcconnell, Noguez, Mutt, Olivier,
OFT, Parlangc, Phelps, Poche, Rlvet,
Robertson, Stage, Stone, Stringfellow,
Sutherlin, Thompson, Todd, Wells,
White, Young of East Baton Rouge.
Nays-Delegatcs Allain, Babcock,
Bobic, Brfdgcr, Bulow, Byrne, Cahen,
Carey, Demas, Dickerson, Gardner,
Ola, Grimes, Gueringer, Henry of
Cameron, Hough, Kelly, Lagan, Loan,
Long, Lott, Luckctt, Matthews, Mentz,
Moore of st. Landry, McGloin, Partlee,
Pinchback Roach, Self, Simon Stamps,
Stewart, Strovich, Williams Of Terro-
bonnie, Young of COncortlia.
Delegate Lyons moved to suspend
the rules in order to put the bill on its
third reading. Lost-ycas 70, nays a.,
not four-iifths voting in tho af1irma-