St. Landry democrat. (Opelousas, La.) 1878-1894, 1879-01-18
ECONOAtl Y,

1t is no use for the people Of New Or
leans to save at tho spigot us long as
they leave the bung out, and continue
to pay interest on about %2O,OOO,OOO of
jun k-sllOp bonds, for which they cot
little or no value received and which
were issued by a lot Of vagabonds, who
had no more legal or constitutional right
to Issue them than a gang of burglars
would have to break into Il merchants
countlng-roOm, take possession of his
books and papers, and issue promissory
notes in his name to the amount of S20,-
100000, and then peddle them around
among "our Oldest and best citizens"
for whatever they would bring.
The attempt to cover up this junk
shop operation, by some of "our oldest
and best citizcns.' by funding these
bonds into premium bonds, does not i'm
prove it much, as premium bonds are
now selling at about twenty-five cents
on the dollar, with a fair prospect of
soon reaching to par with confederate
notes.
In view of this state of affairs it would
appear to be in order to call on our
Mayor and Administrators TO stop pay
ing the interest on these premium bonds.
They were not elected to make them
selves parties to this junk shop arrange
ment, which is fast absorbing all the
business cash capital of the city, while
at the same time, the honest and equit-
able creditors of the city are not being
paid: The unk-shop men are preferred
creditors.
Are the people of New Orleans pre-
pared to be driven out of house and
home, and reduced to state of barbar-
ism, by servile ohdienco to the forms
OF lac npon which these bonds rest ; If
there are no forms of law to save them
from this impending fate, let them go
to work, without delay, and enact some
that will save them, bearing in mind
that the thieving forms of law that are
now stealing every dollar they make,
and dragging them into debt, We're
forged on them By tile alien carpet-bag-
gers, apd are NOW kept ~, in fnll force
anq operation by donestic scallawags
and dead beats on the public treasury.
~ order to make up that ten per cent.
Dividend" even it it's necessary to evict
and child in the city to get it. And
these nre the high toned capitalists who
have Joined In the saturnalia of thieves,
and now want to know why the proper
ty holders of New Orleans do not build
the Texas Pacific Railroad, after they
have been drained of their last dollar to
pay taxes for interest on these fraudu-
] ept bonds,
Ihe people of New 4rleaps have done
well y Wiblpg out the CARPET bageers.
Now let them finish the other half Of
the job, and wipe ont the scallawags,
who have betrayed them, and sold them
again. It will not satisfy the people to
be told about the brilliant prospects Of
their public credit. No sensible people |
will tamely submit to have their private |
credit ruined and their private business |
out Of existence, by unbearablc |
exactiOns in the form Of taxes to pay |
interest on fraudulent bonds. for t.,A !
mere purpose Of keeping up their public
1yedlt to a suitable point for stock gam
IF III s iseiHFe sssSmH5isi and Junk s;,o,
brokers' have ruled the state ard citv
governments for years, and will con-
;inue TO rule them as long as the people
will permiL them to do it, or until they :
press upon their Representatives in the
legislature, the absolute necessity of |
passing some stringent forms of law
hat will make it very unwholesomo for
'ubllc officials to misappropriate public
property.
The irrcprcssible conflict between all
he dishonest elements of fnance on the
me side, and all the honest, industrial
md proprietary elements of the United
states on the other side, will have to be
ettied within the next three years.
This conflict will not confined to any
PARTICULAR section of the country, but
will spread. through all the states to a
:reater or less extent. The people of
he North and West have inst discovered
hat while their attention had been, Ct
ate years, earnestly directed to tho
southern rehel" and the "poor colored
aa1," seme fellows had slipped up be-
ind theni and picket tile;r pockets, by
pa. .ant financial PROCESS, to Which they |,
ere not paying ai i.c-.i"n at the time.
hey are paying attention to the scheme
oa, and this extracting subject will BE
ne leading question before the country
or many months to come. I'll is bawil-
ering to think of any plan by which
lterest on the untold millions of bonds
aat are afaoat can be paid, after all the !
Ieney the people had to pay with had y
cen EXTRACTED from them. !
Ge,llapft.o 4n Xf,c s~~-s- I