Feliciana sentinel. [volume] (St. Francisville, La.) 1877-1892, 1879-03-29
THE CONVENTION AND THE STATES
INDEBTEDNESS.

s"S SOuSILULlO09
convention together, the discus
sion as to how the enormous Stat
debt saddlled upon the peopl
OF Louisiana by such political hive
mas as Wells. Warmoth. Kellogg
ef als'' was commenced, and ever
now much diversity of opinion ex,
lists as to What woulc constitute ar
honorable adjustment of the same.
AT the close Of the late war this
State had her paper on the market
to the amount of $3,S4s,O0O, to
which was added an accrued inter-
est OF 81. 22s, 500, making in all q
total Of $5.o76.sOo, for which the
democratic party was held respon.
s'ble. This debt. it will be remem.
bered, however, was rapidly de.
creasing when the war came on
aud it is safe to say, nearly if not
quite all of the $3,s4s,0OO due in
1871, would have been paid before
1865. had not the afliction of civil
war been visited upon US.
From the year 1865 to 1887 |
inclusive, bonds were issued to the
amount of $5,Oo0,Oco, to rebuild
the Ievees in this State, without
profit to the State and but little
Improvement to the levees. It can
be trufhful)y said, without fear Of
that scarcely one
ourth OF the amount was ever used
or the purpose to which it was an
'ropriated. J. Madison Wells was s
nc Chief Of the pirates that ruled s
louisiana during this period {
would it be Just, in the face of
hese iacts, to attempt to force the
eople of Louisiana to pay this en-
re sum with the interest We t.
az not Itwould not only be en-
ch'ng a small class and impover- o.
h'ng many. but it would establish "
bad precedent for future legisla- OF
'rs who might be tempted to m
wrong.
"armoth and Kel'ogg's admin va
,ratIcns saddled upon our people 'e
further debt of some $13,390.Coo.
most of which was appropriated St.
railroads and other schemes
''ch were commenced, but with Gil
'ery few exceptions) never COM ice
ted. Would it he Just and
1'table to pay the whole Of this In
'rmous debt, without ELIMINATING
Just from the fraudulent bonds2 orl
is our homes: conviction that if by
'ld be the gravest of the two Una
'ngs to pay this whole amount nor rt
Ter than repudiate the whole. sum
we are opposed to reputation. for S
contend that it would be dis -
orable to entertain either of the in tt
va nronos;t;o not 1
~, Loui
the present writing the bond es.
ebt of Louisiana is $43 ,437,639. -
sh'ch is due every year sim Mi:
~oo7'ooo, putting Baul
rare at Z per cent. Now, the by b
pts of the State Treasurer has -.
'or the last two or three years. twen
eded 100000 per annum, last ;i +
, IN 1878 they amounted to ONLY the +
y 33l.74. On an averaoo h., cities
!, eyerv wear s;noo rooe.- of rop
At least So, 100000 to keep the
merry OF government running ~, ~
thly. 1t can be very readily wa n' " "
rom these figures that with a who
'uance of such a system to a R
d of the nuh1ic deb+ doou histor,
would be greatly augmented but b.
twelVemonth. The only way ability
'ch we could possibly pull but ne
IN and pay these heavy ex- prepar:
an enormous IN his Gale
of the already exhorbitapt of his f
taxation, an oppression that four leg
erburdened tax payers would s younse
child is
III not only be necessa ~ for yOunges