New-York tribune., 1882-04-18
THE COURTS.
IMPORTANT SUITS OVER STATE BONDS.
THE QUESTION OF LoUIsIANAs RIGHT TO sCAII
HER DEBT

IMPORTANT SUITS OVER SlAlE boNDS'
THE QUESTION OF LoUIsIANAs RIGHT TO SCALE
HER DEBT.
There have been advanced and set for hear
ing by the Supreme Court Of the United States In WASH
nton today three cases. each OF which brings mp for
review questions OF great Importance to the holders OF
Louisiana bonds Under law passed in 1874 the state
Of Louisiana Issued series Of bonds to pay certain oi lis
creditors These bonds to be payable n forty years
from January !, 1874. with per cent Interest lhe
enme law levied an annual tax for the purpose OF paying
the principal and interest OF these bonds and declared
that the tax should not be appropriated TO any other
purpose. In 1874 Louisiana also adopted c0nstIu-
ona amendment declaring tho Issue of these bonds 10
bo Wild contract be, ween the State ana every holder
OF the bonds which the State should by no means ana
in no wise IMPAIR and made II felony for my person 10
divert The fund for the payment Of the bonds from
That object. In 1879 the State adopted
a new Constitution, TO go into eneet
on January ], 1850, part Of Which, called the "deDt
ordnance scaled the bonded debt and romitted" the
coupons due on January J. $780, and appropriated the
money raised TO pay the coupons OF that date, amount
lug to about S3OOO0O to the general purposes OF the
State.
John Elliot. and Others Of this city. bondhoderS' III
their own behalf Dnd in behalf OF other bondhoders'
flied petition in the District Court at New-Oreans In
January 1850 praying that certain officers OF the state,
who by the laws Of 1874. constituted Board OF
audation 10 carry the provisions OF the la" oi
1874 famoug them being the Governor, Louis A. WIZ
and Allen Juinci, Audior be required to pay the IN
crost on Tie bonds out o. the 100000 then on hanu
and to collect the tax as required by the
Laws Of 1e7l and apply it TO the pay
mcnt Of the principal and interest OF
the bonds The petitioners claimed that the provisions OF
the Constitution Of 1879 in conflict with the Consu
tuition OF the United states which forbds the passge OF
a law impairng the obligations OF contracts and that
therefore provisions of the Constitution oI lSlJ as 70
bprp
was removed 10 tho United states Circuit Court where
tried and the petition dismissed DY Judge BlAlg5
4 writ OF error taken to the supreme court Inc
also fled III against the Board or l1Iu-
cation In the Crcuit Court United states 10 en-
oin the board dIverng the 1und Tor similar reasons
but their bill dismissed by the same Judge An APP
peal was taken to the supreme Court Ihe Stale
If New ilanlshire assignee ana owner
OF six of these 6oLds brought suit ia the Supreme Court
to OBTAIN relief This suit involves tho same
questions and also the question whether one state can
suc another under the circumstance Satei All these
have been ready for hearing FOR some me Oht hc
until fiIll bench was obtained AS soon as JuoSc
Bla clifford qualified the Court set them for hearing Tor
Aprh Z, bat thcy stood until to-day Oh account OF
the Mason proceedings.
Ic,cs se tliug the constutionay OF the provisions
OF the Louisiana Constitution OF 1879 20 these BONDS
and thus fixing tG,r value these cases viii settle the
against an officer and the rights of sta;es
TO sue each other. Wheeler III. PeCkham nae
represented the b0ndhOdersi Elliott and others ana
tAc state OF NeH-Iamp-hrc throughout TINS hlgallOh'
aud wIll argue the III thci behalf. E2Judge Johl
a Campbell, of NCW-DilGlus REPRESENTS TIE state OF
Louisiana and the Board OF Liquidation.
There also another 10 DC heard al the same tne,
brought sib-equtnY these suits. by the Stale oil New
York involving the qut st!ons as the New-lalnp
s, and TINS has Dccn III chaIEc OF DlI' DusI, ol
lIl q hen