The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-03-10
VIEWS or THE COUNTRY PRESS.
An Argument In Favor of the Hepudia-
tIon of the "R0rced" uebt.
Uollna Courier

One of tho most important questions to be
brought before the convention will be whether
or not the State shall repudiate Its debt. The
subject is one Of grHve Importance. one that re-
1ures a special study. Tho debts were con
tracted, signed and approved, and they have be-
come commercial or financial securt los. Ihat
the State owes those debts is beyond question
Of doubt. II the State has contE acted Tor the
payment Of certain fixed amounts by duly en-.
nOweTed parties, 1t must owe certain sum OF
money which must be paid. But now the dus.
tion arises, how shall we solve the problem, I,
/. Had the parties who contracted those debts
n legal authority to do sof
Q. Are the debts, even II contracted by legal
authorities, legal In themselvesP
To those questions We answer:
/. The parties who contracted those debts
we're enemies to the best interests Of the state
and peore besides holding Offices Obtained
They had no legal right to rule over this great
State. and, consequently their acts, Whatever
they may havs been. ore null and void, in so lar
as the honor OF Louisiana is concerned. We
| repudlate those acts, because they were not
| sanctioned by II majority OF the taxpayers. and
| repudiate them, because they emanate from
public thieves and unworthy officials. There
fore. If fthe debts were contracted by forced le-
gal ~ authority. they cannot be legal in them.
selves. inasmuch as they are the creation Of
| fraud aud pillHge.
| d The debts, even II contracted by an ap-
| parent legal form, are not legal In Themselves
| for as We said above. they are the creation of
| fraud contracted by forced legal authority
usurped by tyrannical party for dishones
| purposes The taxpayers Of Louisiana. during
| voice In tho State government. Their cries for
| relief from the Oppres sion of thieves and
scoundres were heard. but-accurs' be the
| ireaeherous yirtors were never answered.
| Thus bonds upon bonds were issued in the
name and by the authority Dtf the state u
| Louisians, by disreputable carpet-baggers and
| rogues Gnd to day there are men-gOoi Demo-
Gratis too-who would say that those debts are
| legal and should DO paid. They say
| that the honor of Louisiana is Mt stake.
Honor Can the honor of the State be at stake
by repudiating dishonest dehts No: tis, me
! honor of Louisiana Is not at stake. but should
| the debts not be- repudiated, then we cay, that
| the honor of Louisiana will be- at stake-at
! stakeY Nay, forever ruined and disgraeed.
LET THE INTEREST BE REDUCED.
[St. Mary Courant.I
| IF practicable 1t seems to MS best TO maintain
the credit oil the State. and at the Same time re-
| ieve the people from heavy taxes. Other
States have done this by exchanging, with the
consent Of the holders. outstanding bonds fol
| payable at greater distances in the future.
! The holders Of Louisiana bonds not having
paid their face value for them would not be un.
willing, II Is reasonable TO suppose. TO exchange
| them for 3-30s, 4-40s and s sos.
| 1t Is claimed that all bonds now outstanding
are perfectly free from fraud, and IL this is
found to be true. 1t III becomes Louisiana t. re-
fuse their payment. but her resources are tor
small to meet the annual interest Of $4,000. Le
| some compromise Of the interest be made bI
| the delegated powers and let the contract bt
faithfully fulfilled.
WHAT EVERY DEMOCRAT SHOULD Do
East Feliciana Patriot Democrat
Every man who goes to the constitutions
convention should work earnestly for i've
i. For Baton Rouge as the State capital.
q Reputation Of all fraue ulently created
debts
3. Smaller salaries and far less officers.
| L. Biennial sessions OF the Legislature.
| 5. The passage of a general homestead law.