The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-09-12
NATURALIZATION OF PROPERTY.

do not believe Mr.. Kelly will accept.
NATURALIZATION OF PROPERTY.
The New York Tribune grows In bitterness
as good Christian should grow in grace. 1t
has exhaustedits virile energies In denounelng
Southern repudi ttion and hustIing the repud-
atlng acts of Northern and Western States out
OF sight. In this latter respect the Tribune
has been more circumspect than it's Chicago
contemporaries, which, when the Legislature
or New Hampshire passed m act constituting
that State broker for the bondholders could
no longer contain themselves, but shrieked
In an agony Of terror that Illinois had untold
millions of repudiated canal bonds outstand
ing which, by this "scandalous' act OF New
Hampshire she could be made to pay.
Having denounced Southern reputation
to the utmost Of Its capacity, the Tribune
has learned new song from the New
Orleans Times and proceeds to abuse the
Southern people as public robbers who have
undervalued their property In Its assessment
for the purpose OF swindling the bondholders.
The Tribune says:
It must be remembered that as rule the
property at the South has been dishonesty un-
dervalued IN aSse- sment. for the purpose OF
robbing public creditors.
Really, this Is clear and unmistakable
echo Of the utterances OF the New Orleans
Times, and reads as II 1t had been written and
printed on Camp street. But this is not singu-
lar since no two newspapers could be more
in harmony in their views on all matters re-
lating to Louisiana and Louisiana people
than the New York Tribune and the New Or
| leans Times.
The facts In relation to this much talked-of
differentiation OF property on which the
| New York Tribune and New Orleans Times
base their ISLANDERS ought to be better under
stood. That property In many portions OF
Louisiana has been and stands assessed at
less than its intrinsic value, Is certainly true.
But that this undervaluation is dishonest or
was intended to swindle the public creditors
Is absolutely false, and we doubt If there are
fifty pieces of property that can be catalogued
as undervalued, which would bring, at forced
1 sale. more than the assessment.
The property has been generally assessed
at It's marketable value. If 1t had been as
assessed at its intrinsic value, under the bur-
den OF taxation imposed upon 1t, 1t would have
been literally confiscated. Hence, the So
called differentiation Of property must be
regarded either as an enforced measure Of
se!f-protect.on- measure on the part OF the
taxpayers to prevent their property
very homes-from being sold over their
heads for the benefit OF q gang Of carpet
baggers and adventures, or, as the result OF
the depreciation of valuable aud productive
property under the malign influences OF high
taxation, corrupt government and a general
prevalence Of extravaganza profiigacy and
robbery In politics and official circles.
In 1874 the State rate OF taxation In Louisi-
ana was "a mills, while city and parochial
taxation amounted to as much, and, In many
localities, to more. Subsequently 1t was re-
duced to Az mills and after the Nichols
government came In to II mills Every man
OF sense understands that such taxation
amounts, In the course OF time, to the
virtual confiscation of property, and no
civilized people will submit to it. They will
resist 1t by force, or, Ii compelled to submit,
property, however productive, will inevitably
depreciate below Its value In healthful eras.
In this respect, the irrepealable law OF
compensation works something like protec-
ton to the people, and, in the midst OF the
confusion and decadence which result from
the profligacy and corruption Of arbitrary
government and the impoverishment OF over
burdened communities maintains a certain
order and balance
In this State nearly the whole burthen Of
taxation falls upon real estate and such taxa
ton was simply unbearable. Were the lands
and houses Of New York thus taxed, there
would be either q successful uprising Of the
people, or within very short time the value
of landed property throughout the counties OF
that commonwealth would be deprecated 80
per cent In value.
! Under the new constitution framed by the
Democrats OF Louisiana, and IN lUhich every
dollar due the public creditor Is recognized,
accepted as uaHd and procided for, the rate OF
taxation Is limited to six mills-four mills
more, we believe, than the rate In New York.
But the people of Louisiana will accept this
cordially; and, under the first assessment held
under the new constitution, the Tribune will
see vast increase in the valuation Of the coun-
try property OF Louisiana The causes which
forced down the valuation will have been re-
moved, and it will again approach something
like the real worth Of such rich and productive
| lands.
The same influences which operated to very
nearly destroy the value OF country property
in Louisiana would work similar effects
Ia any other enlightened State or coun-
try. The robbery and rascality has
not been on the part Of the people Of this
State. The culprits, the robbers, both
of the people and of the public creditors, were
that horde of merciless and rapacious adven-
turers who were sent forth by the Republican
party to ravage the South and who rolled 10
upon us, one after the other, wave after wave,
s'like an endless flight OF birds of prey, with
appetites continually renewing for food
that was constantly wasting" The peo-
pie of this State have paid million.