The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-07-11
pERNIuIoUs DELAY.

The Convention has now been In session for
seventy days and vet no settlement of the
debt has been agreed upon. The delay In
bringing this important and agitadng matter
TO conclusion is not due to any insnrmount-
able, or even serious. difficulty peculiar to the
subject itself, The bondholuers are ready
and anxious to accept any reasonable and iuat
proposition, and 1t requires no superhunan
wisdom Oh extraordinary aagaeity to frame
such proposition. The delay seems to be
caused entirely by the vacillation Ut members
of the Convention who have not the moral cour-
age to stand squarely up and speak and vote
as their judgment dictates. We do the Con-
vention no Injustice, and they may exhibit
their indignation II they are wounded by
these remarks. For weeks and weeks the
settlement of the debt has been under discus
sion. Every interest in tho State IL suffering
from the effects OF uncertainty and doubt.
Trade ID nearly paralyznd. The one single
interest that has Hourished and prospered
with feverish and unnatural vlgor under
the pernicious influence Of agitation and de-
lay is stock gambling. One day one PROPOSE
tion commands the support of a member and
the next day he Is pursuing Q different line.
The votes In the caucus, IL they are designed
to prevent the adjustment Of the debt, are
little less than criminal; II they are serious
they display O vauillation on the part Of MEM
bers almost disgraoeful, and which, to say the
least, promises little good to this State. For
reckless and rapid Hopping We know OF noth-
ing to compare with the course Of the caucus
as indicated by the votes there On the debt.
We have had great faith In this Convention;
We have hoped for much good from 1T. and
the public will bear witness that we have
done all lii our power to sustain and support
1t. We have resented reckless attacks upon
II, and held UP It's hands Oh all occasions
where we could conscientiously do so. But
W. must confess that we are disappointed
and that we arc beginning to entertain very
great fears that little or nothing OF benefit to
the people will be accomplished
We are now far into July. Members are
growing weary, and there is much serious
talk Of adjournment until Iate III the fall. II
the settlement Of the debt is longer DELAYED
the chances are that 1t will hot be settled at
all this year. And iii what condition. then
will the State be left, and In what light will
this Convention shine before the country We
will be left with the debt as it stands, bearing
Its Z per cent interest, to provide fol
which the five and a huff mills interest tnS
will be exigible. The present rate Of taxation
ii MILLS will stand, and THO condition Of doubt
|and anxiety which now pe,vades every class
Of the community and weighs down every
public and private interest will be indefinitely
prolonged. As for the Convention, 1t will b.
denounced by our people who are the sutferers
while 1t will be the, laughing stock OF other
States.
This vacillation must end and some def.
mite settlement Of the debt reached without
further delay. The people require this and
their requirement is just They are hoping
for relief from hurdensome taxation and agi
tation both, and II the object Of their hopes Ii
longer delayed they will have good cause fol
Indignation. and we shall do our best to give
q voice to their resentment.