The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1879-06-27
THE DEBT QUESTION.
Remarks OF Colonel Robert II. Todd,
of MOrehouse.

of Morehouse.
In the Constitutional Convention,
Col. Todd, delegate from the 22d Dis
trict, made a speech favoring the ma.
jority report on the State debt. The
Times furnishes us with the following
synopsis Of tho Colonel's remarks:
Mr.. Todd, OF Morehouse, opened the
debate, supporting the views of the
majority. He had given the subject,
he said, almost painful consideration.
He was anxious that justice should be
meted out to tho creditors of the State,
as we'll as to the State itself.
Discussing the question OF the power
of the convention to pass upon the
question, he said that he differed in
toto from tho idea expressed by the
gentleman from St.Mary (NIr. Caffrey).
He considered this body fully colnpe-
tent to pass upon the question. The
convention was n body similar to the
British Parliament, and held the same
powers to some extent. The speaker
quoted from Cooley on Limitations.
The actions of the convention were
subject only to the laws and constitu.
tion Of tho United States. The con-
vention was supreme power compc-
tent to pass upon the acts of the legfs-
lature aud tho decisions of the courts,
and he hoped the convention was
about to exercise that power.
He had shrunk from interfering
with the debt, and would have pre-
ferred an amicablc adjustment, but it
was presented to the convention now
in a light which made an examination
imperative.
The people desired relief and they
were entitled to it, and delegates had
been sent here to carry out their plans !;
there should be no shrinking in the
task. Governments were organized
for the benefit of the people to be gov
erned taxation was contribution to
support the government, though the
legislative power to enforce the rate
should be limited, and this could not
be done unless the debt was first adopt.
ed. The question presented for con.
sideration was both a legal and political
one, and the power of the convention
to pass upon it was ample.
Tho speaker, quoting from the con-
stitution OF 1852, read the sections re.
quiring an adequate provision to be
made for the payment OF bonds in the
act authorizing their issue. In the
| issue of the railroad bonds which were
put out about that time, these require
ments had been totally disregarded
the only provision being tho pledge O
the stock Of an experimental road.
! In issuing the redemption bonds'
the same legislature had considered tn.
article, and made the necessary pro
vision by levying a special tax.
I Referring to the issue of the levc<
bonds, the speaker said that the securi
ty in this instance was a pledge O
swamp lands which no ono would have
taken as a gift; which wero valueless
and valueless now. He denied thai
their legality had ever been passed up
on by the courts; the direct issue had
never been made.
He believed that the funding act
was passed with selfish interest, that
its acts were not valid, and that there
was no estoppal Of appeal from its acts
and decisions. He considered the board
merely board of experts without ju.
dicial power, and liable to certain pen
alties for a violation of the act unde,
| which it was created.
The speaker quoted at length from
the testimony taken before the com
1nittoe appointed to investigate the
acts of the funding board. The history
l .
drelism without parallel, and yet gen
tlemeh no this floor had said that they
must be recognized as valid. Sir, mus
this convention legitimizc the acts o
these scoundrels? [Applause.l
He did not believe that these consti
tutional amendments had been adopted
by tho people. The election return!
had been manipulated by the return
ing board. When he came to this con
vention he had hoped that the ante
bcllum debt might be retained, but III
was disposed to wipe out every deb
created after the adoption Of tho con
stitution of 1868, and the usurpation o
the State.
Was there any lawyer on this foo
who would contend that the recon
struction acts of Congress were any
thing but null and void: Could it b.
contcndcd that we, the people OF Louis
lana, were to be held responsible 70
tho acts of n government foisted upol
us by Federal bayonets and withou
the agency of tho people?
Better had it been for the people ha'
they been lccinated after having bccl
conquered than to have been turnc
over to adventures from other States
and to q race newly cnfranchiscd, an
who had just experienced suddc
transition from the ignorance OF slavery
: To sanction the acts of these govern
ments the people had to pass over tn