The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1879-10-25
Democratic Testimony Against
Reputation.
BY EMERSON BENTLEY.

Although great Ouscry for the re
pndiation Of State debt was the mai,
device by which an ambitious aspi
rant for gubanatorial honors, brough
into being Il new constitution to Gu
short the Nichols administration
and by which partisans are preparing
for the presidential contest of 1890, il
is singular that so many citizens o
tho State, otherwise well Informed
should have paid SO little attention t,
the righteousness or practical bearing
of the reputation Incorporated in
the new constitution.
a very clear paper on the State
debt ordinance recently appeared i'll
the Houma Courier, and because
statements therein made by "Civitas'
concur with those Of other Democrats,
who have inte!ligently examined the
subject, they may be profitably re-
called. The writer narrates that
many members of the convention
went to New Orleans with the full de-
termination to vote for out and out
Reputation, but had cause to change
their views when investigation showed
when, by whom, and under what cir
cu,nstances large proportion of the
debt had been contracted. At least
$S,OOO,OOO was contracted before Sc
cession and never questioned; $4,000
600 was added before reconstruction,
10 rebuilding levees neglected before
| the war; and these two items alone
make up the S12,0OO,OOO which the
State is called upon to pay. During
Republican RULE, from 1868 to 1874
bonds were issued which would have
run The debt up to S35, ,OOD 900, but
owing to vigorous protest those
in excess of 1926, ,OOO, 900 (tl,e constitu-
tional limiD could not be negotiated.
Ii 1874 the funding act scaled the
then debt forty per cent. 1t is stated,
witt, how much truth nobody knows,
that fraudulent bonds were funded to
large amount: but it will be re-
membered that funding had not pro
1..l I,x,, ,.,ft
business men of New Orleans were
placed on the board, when funding
fraudulent bonds became impossible
without the cunniv,nce uf men whose
characters are above suspicion. While
extravagance aud peculation are ad-
mittcd to have been rife during the
administrations Of Warmoth aud keI
logy it is certain that the State gaiaed
more than it lost by the funding pro
cess. "Civitas," does not think that
any man who has taken care to inform
himself about the facts, will dispute
that Il Democratic convention, a Dem
Governor, II Democratic legislature
and Democratic Supreme Court has
each in its turn recognized the debt
is it now stands, and makes the point
that when all parties ratify con
tract, the contract would seem to have
validity.
During the session of tue constitu
tiOnal convention Gen. Fred. II. Og-
den and others addressed docu-
ment to that body, with the avOwed
purpose Of counteractiug repnniatiols
III which they recited that from per
sonal knowledge many of our own
people a. good Dtmocrats) had,
since the resolutions Of the Nichols
Legislature il 1877, and many more
since the adoption OF the party plat
form in August 1873, establishing the
State debt as at present outstanding,
invested in State bonds. They did
not think it could be denied that had
Reputation been asserted in 1876 aud
1877 the Democratic ticket would
certainly have been defeated for we
would not only have had ii large vote
and influence against us in this city,
but we would have made enemies
outside of our State and at the North"
And scaling the face of the present
debt would seriously injure the Dem
cratic party III the State aud in the
country at large, alternating many of
its warm supporters and defenders
Others might be cited to show Dem
ocratic responsibility and views, with
out shedding more light on the sub
ject of repudiati"n. In justice to
State and the success of their party,
it should he said they unite in tile
belief that the State ls unable to pay
the debt and interest as itnow stands.
The ordinance submitted is a repnd-
alton Of the rate of interest (51 mills)
required to liquidate the debt, and an
attempt to impair a valid contract
without the consent of the parties to
it, or providing for an equivalent
compensation. If the ordnance be
defeated (and such an event is not
improbable) the limit of State taxa
tinn fa,: Ill .,,arnoSns u T., ,a & 20 ,nills