The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-06-15

OORAT, SUNDAY JUN. !
States authorities, and the supplements. l
funding act No. IL, was passed. py Wi 49,
number OF bonds were declared 10 W tsail'e ee
q with fraud. Mr.. Benjamin says:
l. Generally ID reference to the get O y 1s III
which creates uneasiness, in the MUD Of me ne
querist Il is to be tIa nravsion If the
net Is o contract between the State and eysry
holder of bonds under this act; and me act OF
1879 y only afa NAV b. tat the Legis
iature did not consider itself under Il, contract
with anyb dy under the act Of 1874. az Inc e6
obsarved that The act OF 1874 is an ofIer by the
State. and does not bind those who 90 not T.. &C. =;
Justified y1R ID modification Of ts proposal before
/ It had been accepted BY certain bondholdes l
do not Say whether this view was ~ risns Or
ase o u The act q 1875 Reference 70 bonds not
yet exchanged. is no Indication Of any idea on
the part % rne over the bonds ready
4 which had thus become complete contract un-
der the act Of 1874.
pass. now, sir, as I do not desire to weary
the Convention, omlttlng some poants4 Lnat !.
those people who had invested their capital
In those bonds In good faith. The Almighty
power said once that II there were
n sa bev Would re be saved la faas
been found owning any Of these bonds that
YOU would say was not a fraudulent holder?
Mr.. President. many instances have been
brought to me OF people who hold these bonds.
tleman from Washington City to whom you
are Indebted for the picture which hangs at
4 the other end of the hall, OF the hero who
made your city famous and protected II
owner Of these bonds to the extent Of
t Ell room u' this sn'9 morning, 'e as a.
illustration that there are some that have had
/ f'' give YOU the case 81 gentleman, whose
Who Who had the the Sun Sun Il $4,000 to invest for
minor children; his father has been a mer-
chant here ercp for forty paYa ne s hms or
great many years. They took into considera-
zion the best method Of investing this money;
they bought State consols Of the State Of LOU
isana at seventy eight and fiye1eights cents nts
after that those bonds went up to ninety
two. cents on the dollar, and he said
we'll to sell those bonds2" The old gentleman
said, "No; ! bought those bonds upon the
guarantee Of the Baton Rouge convention
4 and the Nichols government for permanent
j investment and not for speculation" Now
there are others OF this class; know one IN
stance myself where WldoW was ADVISED Dy
| a gentleman here TO brlng ner money from
Europe and invest it here. Her husband. dy-
ing, had left his funds invested there, and the
rate OF interest being very low 10 Europe
or per cent-she was advised In all honesty
! to bring her money. mere ana invest IL mere
She did SO and paid seventy-eight
mas tnose polus yet. i, ~ :.
Now, MT. President, what Is the view OF
to 0 thi p oona'enton7 The bondhoider that
thus bought in good faith, the minor whose
case gave YOU. certified BY this gentleman,
4 ana thn naea HAT have stated ana there are
9TH others. What is their view? 1t is right for
YOU as honest and fair dealing men that you
should look 1t 1t even II it makes but little
impression on your minds But I believe,
Mr. President, that these views will make an
fair-dealinq man. e- -, = ''N' e-->'@e '>-'>e
| The oentfeman Yesterday referred to the
platform adopted at the Baton Rouge con-
vention. can add but little TO the arou-
the attitude OF the Democratic party.
But sir. I desire to cali your atten-
ton to one single fact In
that connectlon 10 regard 70 nov
the party dld stand On TINS quesJion. nold
II my hand copy 81 ane e New aha PEN
Rouge conyen ION was Id session, at the time
wba5 one ~ the editors Of that, naner was at
a1 =, ~ ~ - ~ had ~ ~ -
Hls MAINS was ~ We neau VI Ihe colunS ~
tnat paper, WneIe tneIe was also an lo
name that JUSTIFIED the sentiment that It was
a representative party paper OF the State. In
that paper. the convention being still In ses-
Sion We have on one page the platform that
,t III frnr - " anu sAAoA1 LOO"
oot an eAeiac1 HUN ~.
/. That the Democratic. Conservative party Of
the State Of Louisiana In convention assem-
bled. do hereby reiterate sll the pledges con-
tanned in the party platform adopted In July,
I'VE hereby pledge our party to the satisfaction
Of all the legal obligations issued By the State
of louisiana"
road fayr words If The eitoriai cnnnmenta
,ya1 dha az" ,iotfnr vi Tbe auostnn hos bann
IDOL Cuao pisstlol IL ; ino lue1tuon aS po9 sl
Falseu tnaG GnaI parry iute4ueu " SIAnu only