The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-06-03

cowardly outrage, and we again earnestly ex-
press the hope that the public and the DEMO |
oRAT will hear no more Of II.
LET THE PUBLIC FAITH BE MAIN
TANNED.
The Convention is deeply impressed with
henecessity Of relieving the property COM
merce and industries OF the State Of the
burden of debt and taxation which profit |
gate administration Of the government during
the last ten years has imposed upon them.
We are glad to see the manifestation Of this
temper. The first objects Of government are
to protect the rights Of property and the per-
sonal liberty Of the citizen, and these prime
objects are violated by high and OPP
pressive rate Of taxation. But the rate
Of taxation and the burdens OF public debt
cannot be prudently reduced at the cost Of
the public faith, honor and credit. Some OF
our fellow-citizens have attempted to uphold
the proposition that public credit Is q public
curse, and hence, that public debts may be-
ignored In accordance with wise and benefi-
cent public policy. We have followed their
argument with prayerful attention, and we
find that they have simply proved what every
sensible man will admit without discussion,
!. e, that the abuse Of public credit 10 public
curse But every good may be abused. Even
liberty without wisdom or virtue Is trans
formed into folly and vice, and becomes pos
tive ana unmltigated evil, and the same line
Of argument by which 1t Is attempted to prove
that public Credits an evil may be more forci
bly, employed to destroy the foundations OF
our republican institutions, and consign our
rights and liberties to the hands Of despot-
ism.
The savages Of the plains and the Dayacks
Of Borneo flourish In their barbarism without
public credit. The faith OF government and
the financial reputation Of States are not es-
sentialin q foray upon the herds and harvests
Of civilization, Or to organize an expedition OF
scalp and head hunters In the Pacific. But
there is q public bond Of honor and faith, es-
sential to the preservation OF civilized insti-
tutions and the maintenance and extension OF
commerce, manufactures and agricultural in
dustries.
Civil liberty Itself would vanish from the
earth were public credit destroyed. The
noblest causes have been Won by the force OF
public credit, and the most sacred battles lost
for the want Of II. Destroy the public credit
OF England and In twelve months the
freest and most enlightened nation Of
modern times would be reconverted into
the despotism Of Henry VIII Or Of Charles
!. The want OF public credit lost the
cause Of the Confederacy. and the use OF
1t has worked out all the great public enter
prises of modern civilization. Eliminate
public credit from the forces Of society and
certainly many fraudulent debts would never
be created, and the annals of our country
would never be stained by acts Of profiigacy
and corruption; for, truly observed one OF
the greatest OF the greatest OF British
statesmen, "they who destroy everything
certainly will remove some grievance =
But II to render 1t impossible In the
future for the rights OF the people to be
abused, or for acts OF proflgacy to be per-
petrated by public officials, we must strike
down the credit Of the State, then we must
expect our alluvial lands to be RENTED to
the control Of the alligators and our fairest
fields to the wilderness; then can we have
neither levees, railroads, canals, commerce
nor other public works, and In the course
Of time this State, or any other State or
nation which accepts the proposition that
public credit is public curse, will be trans
formed into an uncivilized and an un-
christian wilderness. If this Is the propo.
sition the Convention proposes to establish
In the new constitution, then let men OF cap.
ital, enterprise and enlightened views seek
/ other fields of labor and abandon Louisiana
to the negro, the terrapin and the alligator.
Il In the debt, the Convention has difficult
question to handle But the delegates must
bear In mind that they are acting not only fol
the present generation, but also for those WHIT
are to come after us. They stand literally II
the interest Of the men Of to-day, but also o
those who are to succeed US, and their acts
will be judged, not by the effervescent i'm
pulses and passions Of this hour and day, bu
; by those large and everlasting principles
which bind men in communities, which
underlie our civilization, and which unit
, the dead, the living and the unborn u
that great and sacred contract OF society
which cannot be violated by those to who's
hands its administration falls without bring
. ing disgrace upon them and ruin upon those
who succeed them. Let the members OF til,
, Convention consider this fact, and then turn
their attention to some scheme Of relief fol
: the people which will not involve them ant
) their commercial, agricultural and industrial
enterprises in ruin.
The people Of Louisiana want relief from
. the burdens Of taxation and debt. Our mer
+ chants want relief; our planters want relief
our property holders want relief; our working
l people want relief. Will the Convention seel
9 to give them that relief by repudiating th
!. State debt and SO impairing the public credi
: that capital will fly from our borders, or vii
: they accord the relief by seeking to preserv
t the public credit and converting the deb
into q benefit to every honest class of tn
community?
Q Repudiate the debt tomorrow and we de
9 stroy at least six millions OF wealth owne.
a by our feIlow-citizens; and what merchant
Q or laborer, or property holder In Ney
+ Orleans, or what farmer, planter, mer
~l ~L~ f-L -. A1 L =