Daily Republican., 1879-03-25
L.Outstana'H shame

pie; lnueeu, HHalclal ulsaSter was pre-
dicted when Louisiana failed TO meet
her State interest on the first of Jan
uary. Disguise the whole thing which
ever way it can be disguised, the truth
will creep out, and it will be found that
the suspension Of the Banks has been
caused by the uneasy feeling which has
been prevalent for some time among all
classes of the people, and which was
caused primarily by the failure Of the
State and City authorities to meet their
bonded obligations, and by unwise
and imprudent legislation. With all
the trumped up charges that have been
brought against Senator Kellogg. it can
not be denied that during his guberna-
torial term, the financial credit of the
State was maintained, and all her obi
cations met at maturity, and as it is
now proven that Kellogg made first.
class Governor compared with the i'm
beetle that now occupies the Office, his
opinion upon the financial situation OF
Louisiana and the causes which led to
the recent suspension of the banks Of
New Orleans is worthy of credit. He
says that the people look with alarm
upon the Constitutional Convention, for
which the Legislature provided, and
which will assemble in April. They
fear that this convention will provide
for All entirely new State Government,
and that general election will be au-
thorizrd to be held next Fall. This
create alarm, because a general cleo
tion in Louisiana means a general dis
turb nee of social order and general
pros trstion Of business. Add to this
the disgracetul repudiation of the pub.
lie debt by the State, the equally dis
graceful population by the City of New
Orleans Of its bonds, and the fear that
the yellow fever will again visit them
next Summer. and the causes which
produce the uneasy feeling Of the peo-
pie will lie readily understood. Public
confidence has been completely de-
stroynd through the imbecility of the
Governor and the improvidence Of the
Legislature, and the people are in a
state Of despair. The two institutions
which have failed were loaded up,
Senator Kellogg believes, with State
and city securities. which they were
induced to purchase at high figures,
under the belief that the Democratic
Administration of the State would faith
fully collect the taxes imposed by law,
and honestly apply that portion of the
revenues set apart by the Constitution
for paying the interest on the consoli.
dated bonds to the purposes intended.
The shrinbage which naturally followed
upon the default by the State Was the
immediate cause of the failure of the
two institutions named, and the failure
of these startled the people, already
upon the very verge of panic, and pre-
cipitated the IN upon the banks which
resulted in general suspension,
This is a dark picture for the State,
ont it is the natural result Of the vio-
lence of her own people that has un-
settled business, paralyzed industry,
and created such an apprehension OF
foreboding evil that the colored people,
who are the bone and sinew of the
State, are leaving it by the thousand,
seeking a home where they can enjoy
their liberty in practice as well as in
name. But Mr.. Kellogg is not alone in
his views as to the causes which have
led to the financial difficulties referred
to. No less a parsonage and distiR-
guished Democrat as Hon. Randall
Gibson, who represents the white por
ton of the population Of New Orleans
in the House of Representatives at
Washington. has been giving his views
to reporter as to the causes which has
closed the banks Of the city he repre-
sents. lie attributes the trouble, in
part, to "the want of confidence excl.
ted ia the community by the discus
sions in anticipation of the Constitu
tional Convention. Wonderful coin.
cidence, that be should agree with kel
logg, and yet W. need not be surprised
to hear Democratic papers raise ih'
hue aud cry Of craftsmanship and dis
honesty against Kellogg, while Mr.
Gibson s views will be kept in the bach
ground. We must not forget that tht
convention referred to by Mr.. Gibson
is called by the Democrats to give thell
party a sturdy grip upon the Stat
Government. No wonder the peopl'
are scare d, and al exodus of the coloret
pe,ple has commenced when they lool
backward only for one year and So
what Democratic asce ndency ha
brought them to. General Gibson
hevcvrr, is not done ye! expressing hi
views, and we follow him farther il
throwi4s light upon this subject. IL
NV lINanrly one third Of the lane