The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1879-07-05

| OF our trouote ana 0lstrsoe arises
from over-production. This is true
ne far as the bond mills are con-
| cerped, in the over-production u
interest. bearing bonds; and the
taxes for interest on those bonds
are draining the very life out Of
the people. This is particularly
the case in this State. where mill
lions Of bonds have been issued
(oatensibly for the construction Of
railroads and levees, by lot Of
vagabonds aud trsmps, who would
not be trusted by . corner grocery
man with the collection OF his
monthly bills. Where ere these
bonds, and we're are the railroads
and levees?
The people OF the State Of Lon
isiana and city of New Orleana
have been taxed enough TO build
three or four railroads, bat hsvs
got none for the honda issued for
their construction. This is one Of
the leading causes of decay ia the
commerce OF New Orleans. Rail.
roads lsandiug to Cincinaati, 81.
Louis aud Chicago. have drawn
the business in the wrong direction.
Railroads that were protested aud
paid for in bonds, In advance, TO
deaw trade to New Orleans, ere
only drawing taxes from the peo-
pie to pay interest on those bonds
and that is all the bonds were
lssued' for.
Another cause Of. the decay Of
New Orleans in particular. and The
state in general. - the fact that
the vagabonds who issued these
tbunas are not yet in the penitep-
tiary. The very idea that such
bandibti robbers aud their assigps,
can get any standing or hearing ia
our conrts. is enough to deter
legitimate capitalist from invest-
ing his money in this State; aud
would lead him to suppose that
our courts were instituted ivr the
protection of public robbers, and
not for the protection OF property.
as popularity supposed. :
i SACRED OBLIGATIONS.
: The sacred obligations, which
we have read 90 much about in
, this State, of late years, consists
, of intersst- bearing bonds, issued
!, IN the name of the State of Louis
E lana aud in the name Of the city
: of New Orleans.
, It is estimated that ont of an
amount of about $2l 200, 900 Of
3 State bonds standing in the name
: OF the State in 1876. about $4,000
. 700 were issued in an improper
manner. without reasonable con.
y sideration of vslne received. Il d
. we'll Known that the parties who
c issued these bonds did not repre-
1 sent the people Of the State, but
. on the contrary. were known a.
: notorious baud Of vshabt nds md
y tramps, who, under the anspices o.
D military power, usnrped the Judi
: cial. Legislative aud executive odices
Q OF the government. It is slso vel
o known that the acts and doings o.
9 this horde of communists were u
no time accepted ~ the acts end
: doings Of the people of Losisiana
G aud that the forced subnission x
J, this rule was. from first ~ last
q submitted to under protest. and
o in some instauces, notice Of pro
q test served on the parties interest
!, ed in collecting these bonds.
II It is estimated that ont OF ~
# amount Of about $24 000, 600 bond'
j. standing in the Name of the city o
J. New Orleans in 1876. about $40,
OOO, 900 were issued in On impropel
o manner, without reasonable con
q sideration or vslue received. 1t i
{, suspected, and with good reason
8 that the parties who issued thes
r bonds we're the mere dummies o
n usurping State officials, and wer
1t used by them as supplemental.
G. robbers. in carrying out the Stat
1t policy of plumber and spoliation.
% It is well known that the basi
le of most of these bonds rested OF
1t warrants, certificates Of indebted
le ness, and other evidences Of prumi
le ses to pay, which were issuei !
,e the moet reckless manner, uslimi'
Dr. ed amounts. for the double pm
ID pose of 6lling the pockets Of Ties
K alien tramps, and bankrnpting th
n State aud city governments.
re- It is well known that the mos
9. OF these bonds have been trans
m farrad 10 the handa Of s.inuoeeE