The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-06-10

been honestly and legally contracted and for
M Wnlch me State had not received full value.
gates eleeted-it being popular measure
With the people, but we did not think the
Convention would have made so great q
sweep: 1t Is true the Reputation Of SO large
portion OF the debt and the recognition OF 50
upon by. the Convention, but from what We
know OF the character Of the committee
Offering the majority report, we have right
TO expect the worst, when the time comes
Tor final action. But few country papers are
State debt, because iii that Ii asked ior il the
main is q reduced rate OF interest on the valid
debt Of the State All now stand aghast at
that astounding majority report! II q some.
thing country people, never anticipated, End
10 something that will never be conourred III
BY q large majority of the voters OF the State
What political effect 1t may have ID mat
ter Of little consequences to the people ct large;
what itS effects will be on the State credit and
reputation looks dark and ominous for the
future. No good can possibly come Of IL that
we can see. 1t is not what was asked, for II
we understood the point properly, they asked
that the good might be sifted from the bad,
the bad rejected, and the good retained at q
In the performance OF their duty we fear
the majority have gone too far, and that they
did not we'll reflect upon the grave RESPONSE
bility that would attach to themselves and
Lllt JI{kl6 WHI6 LLGlE ttlUpttus Az GQ0
same time they cannot be charged with any
thing more than hasty action In the matter,
their social standing utterly forbidding It.
It is to be hoped that the report will be re-
committed with Instructions TO SO modify It's
provisions as TO conform to the wishes Of the
people something more In keeping with the
honor Of the State and their own dignity
something more consistent in oil that be-
comes an honorable people who are willing to
pay what is legally due Ia order that the
Gto& flrN
now that she is fast recovering from the mis-
fortunes OF the past fifteen years.
Morgan City Review.l
As matter OF policy, the interest and fl-
ture OF Louisiana depends upon faithfully
paying every cent Ut her Indebtedness,
whether honestly or dishonesty acquired.
There 70 debt against her--her bonds have
been accepted % her pledge of honor by those
whose money has been used by her author
zatiOn; 1t matters not whether the money
was used for the benefit Of her citizens or
institutions, It was loaned and her notes
given. We do not contend that the debt Of
Louisiana has been contracted honestly and
with the full consent of her people, but we
do contend that the debt was contracted by
the agents OF Louisiana, and all principals
are responsible for debts contracted for the
alleged benefit OF principals by agents, and
especially so when notes Of acknowledg
are given by principals.
What though money borrowed In the name
OF Louisiana never reached her treasury
what though money, 80 borrowed, was mis-
used and now swells the pockets of her for
mer rulers, is principal justified In being
dishonest because his agent has proved de-
faulter? The trouble Is In the fact that Louis
lana has been accursed with rulers who were
dishonest. and, unless the State desires the
contempt of every. honest citizen, she will
plainly say, 1--WE deplore the causes which
have led to the present condition OF our State
credit, we are honest, our reputation and
credit is at stake; we will reduce the per.
centage now paid you annually, and event
ually pay the last cent Of the principal
There is hope for the future In times
past, when physical courage was demanded
the sons OF Louisiana were ever In the thfekest
OF the fight and won the vlctor's laurels from
hotly disputed battlehelds; their physical
bravery and dashing courage are everywhere
recorded. This Is q more trying moment
Her history demands moral courage. Do her
sons possess It We believe they do, and we
further believe that II they do not possess
sufficient courage TO say We Will pay" that
anything else will be voted down at the cleo
ton Tor ratification, thus securing In LouisI.
ana much needed quality moral courage.
Webster Tribune.l
In the Constitutional Convention, eleven 81
the eighteen members OF the Committee on the
State Debt have made majority report
dollars Of our debt. The other eight millions
they would repudlate.
The interest is to be reduced from to per
cent year.
The Tribune contained an article recently
State Legislature robbed the public school
fund of about one million dollars, which was
derived from the sale Of governu emit lands
This money that we borrowed or flched
from the poor children Of this State is at last
to be paid back; or rather we &C knowledge
we owe II, and will issue bonds the full
amount, paying 6 per cent interest a year
But the children OF this generation have nc
guarantee from being robbed as til ir parents
were In the last. We are glad the Convention
as honest.
The Convention will probably adopt the re-
port of the committee, and repudiate about
So 600 900 of the So, 600, 900 debt.
Go 1t, boots but recollect section 10 OF arti
Gle ! OF the constitution of the United States
IVicksburg Herald.l
If the members OF the Louisiana Constitu
tional Convention repudiate, we do not think
they will be acting tn accord with the wishes
or their constituents. We are well posted Ii
Louisiana affairs, and we know this question
Of Reputation was not discussed before the
OF standing 10 Louisiana advocated repudia
ton before the election. These reputation
men are taking for granted matter that is
exceedingly doubtful. We firmly believe that
IL Reputation had been made an Issue before
the people, the repudiationists would have
been overwhelmingly defeated. A vast ma.
jority Of the people OF Louisiana want to do
according to their ability, what is just and
right about the matter. and they Know it il
not right for the Louisiana Convention to act
as Judge and jury and decide upon the claims
of other people.
The repudiationists say Louisiana cannot,
should not, and will not pay anything she
does not justly owe. But who is to decide
what she does justly owe? Are the debtors
to decide? or the debtors and creditors? or
disinterested third parties? The reputation
lists assume that the debtors alone should de-
eide the question. This assumption outrages
every appearance OF fair dealing.
Instead Of this course, II the Convention
thinks Louisiana cannot pay the claims
against her, 1t should ask q conference with
the holders of the claims with view to COM
ing to some honorable understanding. Claims
that are fraudulent should be proved to be SO
in some disinterested court and thrown out.
The others, as far as the State is able to do 50,
and the question Of ability should be decided
nv diSinfnroctnd no ffina chnnf6 hA maid Tf