The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-06-13

these facts that members may avoid extrava-
CANT statements hereafter. The truth is bad
exercise Of the imagination ts not necessary
In order to impress the members OF this Con-
ventiOn who advocate the adoption OF the ma--
1orlty report with the Importance OF theirr
Mr.. President, much difficulty arises in the,
consideration Of this question by d confusion,
OF terms. When gentlemen indulge In the.
use OF the word fraud" or fraudulent they
that there were . large number Of fraudulent
bonds issued and funded. Mr.. President,
what is Q fraudulent bond2 / think there is d
great difference between an illegal bond and
Q fraudulent bond Sir, as an illustration Of
this proposition Z will refer TO the 81 .ooo, 900
OF bonds issued In 1866 and the $4,OO0,000 of
bonds issued In 1867 for Ieyee purposes.
The majority report Of this COMMITTEES says
that those bonds were issued In violation Of d
provision OF the constitution OF this State,
because the act that authorized the issue did
not provide adequate ways aud means Tor the
payment OF the principal and interest. Those
bonds which the majority Of this committee
declare invalid and fraudulent are not invalid
faith, and the Legislature that passed the bills
and the Governor that signed them believed
they were doing constitutional, wise and
patriotic act. Ny friend from West Carroll
and Levees In the Legislature that issued
these bonds, and upon his motion those bonds
were passed through the Senate; but will
anybody fnginuate that the gentleman from
uient bonds2 But the majority Of this commit
tee have reported that the bonds which passed
the Senate upon the recommendation OF my
friend l from West Carroll (Mr. Lott, are
iraudulent M because on Important provision OF
which declared that the payment OF the prin-
ctpal and interest should be provided for.
But suppose the Governor had issued twice
that would be termed fraudulent act, and
the bonds would very properly be termed
fraudulent bonds. That was the case Id the
State Of Georgia. The Legislature had
aided the railroad enterprises Of that
the Governor had issued to these railroad con-
panfes bonds to larger amount than was pro-
vided for BY law. he took to New York large
amount OF those bonds and pledged them for
leans ], without authority Of law, and the State
is great difference between bonds issued
Illegally and bonds issued In compliance
with the provisions OF the constitution, and
strictly in aecordance with the provisions OF
me was In accordance with the law, for the
purpose declared I'D the law, ana for the con-
sideration declared In the law. There has
never been any coneealment about any issue
prepared, and with the indulgence Of the Com
vention shall try to satisfy the Convention Of
that fact
Mr.. President. I do not propose to take up
the time OF the Convention By g discussion of
teeon the Public Debt. 1 leave The 81, ,651 ,s87
OF bonds issued before the war, for the relief
OF the State Treasury and the various rail-
roads to whose stock the State subscribed one4
different banks from 1888 to 1887, on which In
dividuals have been doing the banking busi-
ness since that time; the 81. .392, 800 OF bonds
issued by the Democratic government OF 1865,
1866 and 1887, to be explained, jugttfied Or ex-
The Legislature was wise or unWise, pTu-
dent or imprudent. judicious or InjudfcfouH.
This l will not discuss. That the LegisIa-
ture that passed the acts; the Governor that
bonds, believed ID the rightfu1ness of the acts,
make no doubt The majority OF the Com-
mittee on the State Debt have reported that
most OF these bonds were unconstitutional.
subject OF discussion, between the officers
who issued them and the members OF the
mmittee who join In the majority report.
I do not critfcise their motives, for have
no right to do 10. The State has pledged her
faith to the payment Of these bonds, and
honor and justice require we should do IT,
Leaving this part Of the subject to other
members ,a OF the Convention. I propose TO adj
during my administration lii 1868, 1868, 1870,
1871 and 1879. S.
will not dispute with any member who
believes the issues Of bond In several Instances
curing my administration were unw1se,
for in the light OF subsequent events, they ap-
pear to have been SO; but affirm that Ii was
owing to unforeseen obstacles and events not
dreamed OF at the time Of their issue, to
G calamities which II was not in the power Of
and not to the legislation, which, but for
these obstacles and events would have pro-
duced benefits to the people OF this city and
State, which cannot be oVerestimated, Or In
deed, computed.
The bonds Issued to the North Louisiana
and Texas Railroad Company were made only
ln part by me. The Legislature, acting under
The information that the road had been almost
completely destroyed by the ravages Of war
river, authorized and directed the Governor
q Issue 5000 Of bonds per mile, as each di-
vision OF five miles was completed taking
second mortgage upon the road and Its equip
ments and franchises to secure the State ID
the loan. Under this act / Issued SAG bonds
II $1,000 each to this company The balance,
D576, 900, was issued by my successor. 1t is
now said that this road was not destroyed by
The war, and that the water OF the crevasses
u It's entire length did not materially injure
It. But the following military order would
end strength to the impression that Ii was
very much injured, II not destroyed, by the
JOAl0A6LhIt LEUOpS Ill 4oO1.
HEADQUARTERS TRANS MISSISSIPPI,
No. 1172J' Shreveport, NOvember3 s. 1863.
Gemernl-I am directed BY Lieut.. Gen. Smith
O say that the complete and utte7. destruction #
u the railroad leading from Monroe In the
direction OF Yieksbnrg. Is of the first in-
,ortance; and to- that end ron will fortf1-
With put to work all the negroes that can Be OBJ
aimed, and also such OF your force as can be
irely destroyed. With the railroad from Yicks-
,urg to Monroe ia. the hands Of the enemy, the &
after place would become TO the country west VI
i the Onachfta what Yicksburg is 10 that west.
i the mississippi. The lieutenant General
sells confident that you will at once see the fm-
'oriance of this move, and you will lend all
our energies to Its accomplishment. d
l am. General. very respectfully.
Your obedfent servant
d. 8. Anderson.
Assistant Adjutant General
'rig; Gen. F. O. HILBERT. commanding, etc.
Vienna. La.
On this order is the following endorsements:
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