The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-06-14

until am satisfied that 1T ~ due. But, at
a ae IS snyb @e to ann make s 81 90 ad
to settle this matter here with the
bondholders upon such terms as will
suit them and suit us. Sir, this ID an age OF
compromise. The man who holds the bonds
the fact that we are now reduced to an as
sessment of $50, 600. 900 when only q few years
ago it was S50G,OO0,000. The man who holds
the bonds cannot ignore the fact that we have
ignore the fact that we have had restitution
in our midst; he cannot ignore the fact that
all influences of climate, all that can set a
country back has weighed upon us to to
almost to destruction. If he knows
this, II this knowledge has come to him, II
he does not want his pound Of flesh, II he
does not want to drain the last drop OF blood
for the last fifteen years for existence, let him
listen to the voice OF reason, let him listen to
the voice Of compromise, let him listen to
the notice given when the committee met, let
him come with some proposition to enable
us to act SO that this question may be settled,
and settled forever Sir, as long as l have
vote upon this floor intend to cast a vote
honorable to me, honorable to the memory OF
my father and mother, honorable to my
chiidren-and have five SONS. Applause.
intend that that name shall be transmit
ted spotless and untarnished to my posterity.
don't intend any stain OF reputation to
weigh upon that name. And Ii the majority
Of the Convention to-day decides that this re-
name from the report. lApplause
Now, Sir, they have talked about the pros
perity OF the State. They have had great
deal TO say about the millions that we pro-
duce. We are 80 rich that we don't know
what to do with our money, and in spite OF
ourselves we must pay twelve millions In
money. We cannot help 1t. Think for mo-
ment. Will any man identified with the sugar
4,I1 bot l.
sugar. Don't it cost between four and five
cents to make the SUGAR. Thenif it costs that,
and you bring 1t here to market, what profit
Is there when 1t sells here for four and five
cents pound after paying expenses? What
profit is there? Have you calculated. that?
| Let me tell you that If it had not been for the
| fact that last years yield was one of the most
| favorable ones OF the last six or seven years
there Is not a sugar planter In the State that
would not have lost money.
them from mourning the immense loss that
| they otherwise would have suffered.
Now let me talk about the cotton planters
/ have great many on my place: | rent
do; I know what they make suppooe q
small planter cultivates ten acres OF cotton
and five acres of corn; 1t is all that he can
attend to. Suppose, again. that he makes a
bale OF cotton to the acre, which Is an exceed
ing large estimate--what does he get? len
bales of cotton at eight cents pound
S32 per bale-ten bales, 1920. Now, sir, after he
has had his cotton ginned, after he has had his
cotton baled, after he has had the cotton
picked. before; after be has had the cotton
after he has paid the expenses of supporting
his family--if he has two or three children
what is left2 Make the calculation out OF the
$500 that he gets-what is left? 1t it is not a
losing business, I don't know it. And it is
not the case with the cotton planter, as with
others, that everything he needs is cheap ID
proportion to the price of his staple.
Mr.. President, hope that all the members
/ of the Convention will view the subject In the
same light as | do as far as reputation Is
actuated by prejudice by any previously
conceived notions but that they will act fair
ly upon the subject. Do justice to the State,
and at the same time doing justice to the
creditors upon terms of compromise. II they
do 50, I have no doubt but that ultimately the
question will be settled to the satisfaction OF
all. Gentlemen, thank you for your atten-
ton.
DELEGATE KERNoCHAN
next addressed the Convention, speaking az
follows:
bfr. President While do not suppose thai
any address coming from one like myself
after the able efforts OF the able and accom-
plished fogicians who have treated this sub
/ iect, can in any way hardly interest this as
sembly, yet there is no member on this hoo1
| who differs from me but whose views and
reasons am anxious to hear, and therefore
deem 1t on this occasion matter OF duty tC
express my own views and to give the rea-
sons for the opinion which my vote shall ex-
press. And this, Mr.. President, [ hold to be
the duty Of each and every member to do, to
indicate, In casting his vote on this Important
question, that his vote is founded on due in
dividual reflection, dictated by reasonable
motives and an intelligent conscience. On q
question Of this kind every man should be
able to satisfy the public mind that he has
sufficient good and valid reasons for the ac-
| tiOn he may take.
The question Of the adopting the State debt
as 1t Is, or adjusting 1t by reduction of its
volume, IS one which involves SO many con
siderations that 1t Is difficult to tell how to
deal with it, what phase to Illustrate, or
4 where to commence.
It was with the most anxious interest and
attention that | listened the other day to the
argument of the delegate from West Carroll,
MIR. Lott. Earnest, honest, forctble and at
tractive, indeed, found it, and yet [ find, con-
ceding for the sake of argument, but for the
purpose of argument only, all the premises
| from which the gentleman argued, that there
is offered no cause for any change OF the opin-
Ion which entertained as to what should be
the action OF the Convention In this all-im-
portant matter.
| The gentlemen supporting the majority re-
port have presented review OF the history
Of the different elements and items of the
present State debt; they have presented a
bare statement and array Of dates, designa-
tions and figures which existed previous to
1874, since which the State debt assumed a
new form, and is now an entirety, a certain
mass distinct, and an integrity complete and
indistingushable and in which the figures,
facts, designations and distinctions OF the
Items and elements which went to form and
compose it, have become so absorbed as to
| have become long since, | may say years
since, no longer distinguishable and now en-
tirely beyond recognition, and utterly beyond
recall.
The facts stated by the majority of the
| committee may be all true, or may have been
at one time all true, but they have ceased to
discussing and for hearing them has long
since passed. They are no longer questions
of to-day-they are the things OF the past.
The gentlemen are using arguments and
attempting to carry out policy of 1867 and
| 1868, and seem to forget that we are called
together In 1879, and that the world not only
has moved, but that it has moved much since
twelve years.
Ten years ago perchance might have
listened with pleasure to such suggestions, and