The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-06-21

h, ~ KS " ~ percent Ut the debt dotracts
was su ion ssss Ilom me validity d that which
ft sp obtains its peculiar brilliancy
from its source.I Dn'oo1
Concedirg for argument that the consols were
YET 10 q greater tsa validity than the bonds funded
III sus ~ s'e did not find the funding
w No. II 81 1919 constitutional and Illegal.
aithough the constitutional amendments
were, the cons0ls were entitled 10 some CON
siaerayion as Issued under that act. The nom
Aapgaon OF the amendments did not necessa-
TIE bond III and the State under said at
No. =. The imposing magniicence 81 this
position as to the amendments of 1874 is only
IulIy appreciated when we realize how, with
fn sweep q re pen this Judicial inyesga
ZION q the organic law of our State by declar-
Ing II was never adopted by the people"
notwithstanding the fact that four
own Supreme Court has decided more
that they were duly adopted; that the State
nerselt has. In some cases, set up the adop-
ton OF them and their provisions as a de-
i . anu further, that no especial method Of
81 IN 81 = nesesssssar sse q A.
Notwithstanding the further fact that the
Democratic reform Legislature OF 1877 spe-
cificaily recognized the force and validity Of
these amendments q ,ana BIZ passing act No. So Of
act to. enforce effectually the constitutional
amendments proposed January "a, 1874, rati-
lied at the general election held on the second
q Noyember, 1874, relative to the State debt
ana tn o ithnding thereof 70 project The inter
issued by virtue Of said amendments" etc;
passed by the same Legislature, extra
session. ess got 70. ~ o. April 10,
. asm; ana 1n ~ YET th s committee were
office Of the Secretary Of State to Indicate
that said amendments were ever adopted by
the people" Miserable subterfugel Had the
COMMITTEES have extended their Investigations
sufficiently far-as doubtless they did they
would have aseertained that nearly, IL not
quite, all OF the issues OF bonds they passed
upon, except such as were already cut off by
the decisions ct the Supreme Court [see 29
An. q, 2e4; 30 An. "a; Exchange Bank vs.
merged into the funded debt. and that. ID re-.
ality the COMMITTEES had but little else to deal
with than the funded and floating debts, and
No. 81 OF 1872 From information received, !
heavy majority Of the bonds recog.
nized by the report az legal have
and repudiate the whole funded debt Of the
State. That every dollar of the funded debt
| 10 III law and equity valid and binding upon
the State, no sane and candid mind can deny
| That the Democratic party and the people OF
equity irreyocably committed to and bound
for this debt, IL equally undeniable. This
weak and qutbbling majority report" is, In
my humble opinion, unworthy Of Intelligent
representatives Of the people Of Louisiana
That this committee should thus arrogate to
itself the supreme judicial power OF the State
and undertake to ignore, override and reverse
the repeated decisions OF our chosen Supreme
Court, 10 an act SO illegal and revolutionary
In itself as to be appalling, and 1t is to be
hoped that the Convention, for the sake OF its
own and the peoples honor, will not commit
| itself to 1t. r. A. f.