The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-03-19
and they hsyesuirsred and teiled long envughl
ID be heard now that they are sovereign.

ID be heard now that they are sovereisn.
ss. sfAssumptlon PioneerI
The general and certain knowledge that
bur Staiehas been swindled 70 iaI hIuuuns
In tho Issue Of bonds from which 5he mas re-,
rei we'd little or no benefit is good ana yalld
grounds for a compromise with her oreditors
we know full well that the holders of these
bonds bought them nj, very low rates. anu
the circumstances under . walco no iney we'e
We doubt not that fair and satisfactory
no,nnroniae can be effected by the begsla-
ture. both as 10 the atnoilnt Of the princlpal
and the annual interest-iG q WORD, the State
debt can and should be- placed on such
basis aa To enabJs us to pay the annual inter
est and provide sinking fund Tor It's hDal
bavrnenf The State of NortMCarollna has
recently made compromise Of her large
debt. by which she has placed herself IN con-
diton to maintain her credit ~ nle future.
tiops of honesty. the Idea OF reducing state
debt by Legislative act may seem Irregular
this would have besn the general opinion
some years since. but we live and learn, and
thare n no reason why In the general shrink
aae in Tho value of property throughout tho
country tho b0ndhOlders should not abate
some n their pretenslous and bear portion
OF the general burden.
Comprornses are often made by individuals
when their circumstances BECOME stratteDed
and the State Ia only an Aggregation OF indi-
viduals, 80 that what ls right and proper In
orls case is certainly allowable In the other.
tMinden Democrat
The state Of Louisiana Is laboriDR under
n burden too heavy, II is apparent, Tor her
people-the taxpayers to bear, ana one oil
the paramount questions that will occupy
the attention Of our representatives IN tho
Forthcoming convention will be the debt Of
the State There are two propositions:
|. liquidation.
O. Scaling and reducing the rate Of interest
We do not believe there are any Democrats
who entertain the idea Uf retaining the debt
In It's present burdeusons shape, and Its
payment In toto Is out of the question. Tho
above propositions will each have active asd
able supporters. The supporters Of repudia-
tLon will mainly come from the country mem
bers belonging to the agricultural class and
those from the cities who represent the II AZ
payers Union and the mechanic and aboring
Glasses. The lawyers In the convention viii
of course take high grounds and talk about
the constitution Uf ths United States, Impair
ing The obligation ii contracts, etc. What
tho probable and final disposition Of the debt
by the convention will be, we do not pretend
to prophecy.
An Che debt created since the war will bear
close scrutiny and thorough lnvestigation, and
II possible for the convention 10 ferret out tho
good FROM the bad and satisfy the people what
their honest indebtedness really Is, We believe
that they will be IN favor Of paying every
dollar Of 1t, provided ii can be shown that the
VI, us
will not continue the State In n condition OF
Relief must come. II scaling
will not give 1t, then reputation will. III tbs
good has become so ineKplieably mixed up
with the bad that no conclusion can bg arrived
ut, the convention will be forced to wipe out.
The wisdom OF The convention wi be taxed,
and II It's conclusion ID satisfactory to all
parties 1t will be n miracle.
Lafayette Advertiser
The public debt just now ia attracting the
at eDtiUD of enlightened patriots In every
portion Of the State. There Is great diversity
of opinion and much discussion as to tho
manner In which IL should be approached by
the convention. We hold that 1t Ii the
bounden duty Of the convention To closely
scrutinl1s the State debt, ami II there be any
part which Is found to be tainted, IL should he
repndiated There has been great cry
is laudable but justices To tho people Of Lou
islana requires that taxpayers should not be
ileeced, II the bondholders have been unfortu-
nate in their bond 50 cuintlon8.
The credit Of the State may be impaired
for awhile but In the end there is no doubt
but what 1t will be benefited.
Marksvllle BuIletlnI
The nominations, rs far ~ we have seen,
Of delegates to the convention IN the city u
New Orleans would Indicate that the people Of
the Crescent City are ms anxious "a we ut the
country to scale the public debt. The DEMO
tHAI SuOfb iI'l GDubSil3ti ubGfI-
views with those thus far selected, and all Of
these entertain Views similar to those fire.
quently uttered by that sterling journal. We
begin to think that, after nil, the bondholders
will not trouble the convention MS much as II
waS ut first feared they would. We rather
apprebended that the city might send q dele
CATION the majority OF whom would work In
the Interest OF the money changers, and the
parishes provided against such II contingency
by nominating men free from any such infn
ences. We are glad TO note, however, that
the gallant Crescent City will feel our elbows
In this m0nnent0us issue.
WEST Feicana Sentinel
On Tuesday next the people Of this parish
will bo called upon To select delegate to
represent the parish In the constitutional
convention that assemblies In New Orleans
on the twenty-first OF April. In West Fell
ciana two candidates are out for this office,
both claiming To be the nominee Of the Dem
consideration as To what wing of the party
either Of them belong to. The question for
the voter to consider previous to casting his
ballot, Is not altogether u party one but
equally, II not Of greater importance. After
the induction Of negro supremacy In LOHiSt-
ana 1t is u notorious fact that many millions
OF dollars Of worthless bonds were Issued
and are now outstanding, for which the State
never received one cents worth Of good. It
would be as unjust for our Impoverished peo-
pie to be forced TO q settlement OF this inI-
them to repudiate the honest Obligations Of
the State. Then, we say,it Is very important
that the people know the minds Of the as
pirants on this important subject before
rushing TO the polls and casting their ballot