The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-09-11
WORDS, TRUE, GENEROUS AND JUST.

The New York World has made q Just. dig
nitied and unanswerable reply to the abusive
articles which have recently appeared IN the
Tribune In relation to the Reputation Of
Southern debts.
In an editorial little over a column III
length the World presents the Southern, or
rather we should say the just and correct
side of the case. The World fires o. centre
shot when it says.
Nothing is 10 be gafuHi 81 looking ~ South
ern population In party asneeE, Hepu hh-
Clearly were tho regulators In Soufh Gatolina
and Louisiana,
Tie DEMOCRAT, time and again, has shown
that the Republican funding scheme, forced
at the point Of the bayonet. upon the people ol
Louisiana. Is the only measure Of reputation
that stains che legislation OF this State.
Continuing the World says.
When sensible people at tbs North sit down
nujatly to discuss the matter Of Southern debts
and Of their trent by s9n1nern r.es, .nes
try lib 1866 with quite twenty, seven hunefea
millions oil its property, including slave prop,
rarf ~ the inhabitants Id certain sections of 1t
nearly houseless and homeless.
And, again:
Those who appreciate the evils Of irredeem-
able paper nnouey will remember that the South
|
fastened On the nation by Sherman. was doing
It's worst al over the land. Railways and ~
ternal Improvement companies sprang into
West: counties ard Suites issued bonds and
lent their credit Just ~ New York cty issued II
bonds aud lent Its credit under Y Twsea neW
provision forbiddinR any State debt. A
municipal bond payable to bearer and
ag sen largely II use as al
country. Wha proportion of these Southern
bonds which have been repudtatsd We're, held
BY bona Jfde holders for value paid. and taken
without knowledge of any taint In their Issue.
no one knows. GerfaiRiY millions mere trnnnt-
leptly issued to carpet bag officials and 10 NORTH
Millions OF them were ISSUED under the com
puson of Federal hayonsts, and for fhese the
States received actually ne consideration. Many
bonds were emitted when the greenbaek dollar
was worth only 60 or u cents IA gold.
!
Was not the greanbaek movement IN the. West
and North based On y plea by debtors that II
was unjust to compel them to discharge debts
incurred when dollar wac worth G0 cents IN
dollars worth 100 cents What ts the Rspuhii-
can greenbaek contention to-day Ia Maine bni
this y?
These points arc well and foreibly made
The same arguments have been more than.
once presented by the DEMOCRAT In vindica-
ton OF our people. but the World is the only
Northern paper We have vet seen that has had
the justice and generosity to recognizes them
and present them to the Northern people.
They are 50 clearly and foreibly presented by
the World that they do not require comment.
The conclusion of the Worlds article is O.
just tribute to the honor and integrity of the
"old South 30 much maligned and mis-
represented, and it very forGibIy draws the
balance between the South. the West and the
East Oh the score Of reputation:
In the olden day and before 1860 the govern
ing class In the South was VIGOROUSLY thought
full. honest and stern In oil matters relating To
political economy, f1Eanca. debts and taxation
Mississippi repudiat.d. 1t Ia true. but 50 did
Pennsylvania and 90 more recently has Mlnue-
sofa Whence and why the change ut the
South? Before 1860 the Sonth would hHvs
legal tender treaaury NJ ts or nat money. Do
bankers ia Amsterdam. Frankfort. Paris and
London say that there has bean no reputation
no financial dishonesty In tho United States
outside of the South Have no Western com
mHnitiss enacted laws tn prevent the collection
of debts held In the East2
We thank the World for Its words of justice
and we can say to 1t that, SO far rs Louisiana
is concerned, IL may affirm, and challenge con
tradlction, that the only reputation there has
ever been Id this State was the work OF w. Pitt
Kellogg Charles Clinton and their associates
In the most Infamous and odious usurpation
that has ever disgraced free country.