The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-05-13
lasses and honey Portions OF barrels and
hogsheads have been washed ashore at the
THE DEBT QUESTION.
A Suggestion as to How This Much vexed
Matter May Be settled ana Real Es-
tate Relieved Of the Present Huraeas
UpNn II
ENatehitoehes yindieatoy1

fNatehitoches yindieatog1
The settlement Of the debt question vexeD
70 great degree the public mind, not only
mere but IN the country parishes OF the State
toned burdens now laid upon the real estate,
OF the commonwealth, which at last In All
the capital Louisiana has, calls for relief afe
almost any sacrifice. We have as yet seen no
OF what seems to be irreeoncilabe differences
between Ehe State and her creditors. Threats.
Of reputation, which In our opinion, Expressed
all along. is desperate remedy, pregnant.
perhaps with untold evils, have been made by
the equally insane bui1yism and threats Of the,
bondholders1 organs, have tended each side
to wider severance In views; nay, angered
each to such an extent as to preclude almost
Guilty. Ii We understand the demand OF the
people, 1t is for practical relief for dimin,1-
tion OF taxation upon the landed interests.
which must be fully DEVELOPED before we can
how this may be- effected 50 it be done honor. p.
ably and with an equitable regard for the
rights OF ALL The Convention, In its
efforts to meet this requirement, has
n our epan viii H. stand tho tet u s whe no
have the press representing the creditors
suggested q plan to meet an Issue, the solu-
ton OF which, i done arbitrarily, must prove
We lay down the proposition that the whole
question can pc settled upon the purest prin-
eples Of political economy, and what is more.
In tanner which must and will freely satisfy
all classes OF citizens We suggest to, and
ask Of the Constitutional Convention, q
patient consideration OF what we consider
solution Of the difficulty now environing the
State debt, within the range OF possibility
and quite satisfactory to those mutually and
deeply Interested 1t is to first continue in
force the present State license law, with the
provlso that all municipal and parochial
authorities shall be prohibited from levy
ing any license whatsoever; second,
license should then be levied upon
all the corporations chartered under the
laws Of this State for commercial purposes
such as banks, lines Of steamers, slaughter
house companies, the Lottery Company, the
Waterworks, Gas and Sugarshed companies.
By this means an annual and sure revenue
could be produced OF not less than $500, 900,
which would leave landed estate with but
nominal tax not exceeding tro usilts to bear.
We consider the effort TO limit taxation to five
mills as laudable but perfectly futile, unless
1t be followed by an act fixing maximum
rates Of assessing property. Our plan OBJ
viates all this difficulty, because 1t is
laid on interests which will not feel
the burden, and Is q more Indirect mode Of
raising revenues for the State and conse-
auently less obnoxious to the mass of people.
because not pereeptibIe. We submit this plan
with an honest and sincere purpose to relieve
our people from the onerous taxation now
bankrupting them, and ut the same time
bring to the succor OF the State those inter-
ests which we have regarded as being detri-
mental To our prosperity as o people, char
and we fatter ourselves the Vindicotor has
many, will give these suggestions, which
have cost US some effort, reflective consider
alton, for In them we candidiy believe lies a
cure for ills which now seem beyond the
reach OF medicine, and are ripe for the sur
| frcnY 70 knifn