The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1882-05-13
THE LEpRosY OF REPUTATION.


lawyers for New York in her suit
against Louisiana concludes with /
these pu"gent sentences: So. m
The history of Louisiana Reputation
is history of shameless pertidy. IL
can be accounted for only upon the
supposition that majority IF the peO-
pie Of the State considered themselves
as much beyond the reach of law, rs
they were beyond the influence of the
worlds opinion If the, should he adj
Judged free Of all restraint, they would
be enrolled among those, to use the
fiery language of Burke. ''no treaty |
and no signature could bind.' aud
against whom the faith which holds
the moral elements of the world to-
gctller was no protection Let us
hope that they will be admonislled, by
the Judgment here to Ire pronounced.
that however worthless among them
selves they may consider their own
promises, they will be held to fulfill
them toward the rest Of the world.
The state Central Express. IN
labored article. attempts 7" justify
Louisiana in her craven action ~ re-
pudia.ing the interest due ON her
bonds. Our contemporary makes use
of The above most appropriate head
ing, but fails to fill III under 1t the
loathlng all honest men must feel to-
ward the "lrprosy of rspud'ation.
Louisiana has DO more right to
d.shonor An obligation than private
individual Ifshe desires t. effect u
oupromise With her creditors, there
fls tut enc way To d, ST.. aud That Is
b, IA meeting and ngretnent Among
more creditors. This was done When
The debt was first scaled TO 90 cents
on the dollar, which was agreed upon
by both contracting parties. The
next step Louisiana took was to vio-
late the agreement when live years
later she adopted a constitutional
provision offering her creditors bonds
bearing 2 per cent for the first, five
years. 8 per cent for the next fifteen
years, aud 4 per cent interest there
after, or neto bonds at the ,'aie IF 10
cents on the dollar al per cent inter-
est. BY this arrangement y $lOOO
bond was first scaled to 5000, aud
then still further reduced to $3.50.
while the Interest is also decreased
in ike proportion. ~ sa@ a
| We candidly confess that we cannot
appreciate the fine distinction the
Express makes when it says of this
:, stema,i c scheme Of robbery:
There is one feature. and but one, in
this so-called Reputation that merits
cens,lre-the ssremission'' of the inter.
Test due January !, 1880. That was Z
suoliation, but fair minded men vii
look i'm vain for "shaneless pertidy
in the acts of State that refuses t.
7 repudiate any portion OF her debt, al
J though the strongest Indictment to II
, and the strongest excuse for 1t were a.
hand, and stopped content with re-
ducing rate Ut interest. = -
Tie 4 ference between that sort .
. .spollatlon" aud the "shameIess per
fidy" seems to MS about the differepr'
between the highwaymau's polite =.
! request to hand over your pocket
book, or "hold up your hands, Will
be proceeds to extract it himself
: Louisiana has inst IA much right 4
remit the principle Of her debt "a
z che had to ',rrlnit" the interest, an
the fact that il is done uuder cove
of constitutional provision does nc
III any manner lessen the ''perbdy
s Of he act There ma, be law f.
q such AN net, neighbvr. but there
i no iustice IN H. II either of us owe
r the. other $l0o, At is perfectly homes
u aud fair to effect n compromise at 5
!, cents ON the dollar. prorided there
full agreement between Ms t. thu
c effect, Bnt for The creditor To ref.,s
e to pay the whole or part Of ihterei
u or principal is AN ACT Of bud faith.
:. The Mascot Is tile ns,ns of a spic
- illnstraied paper published in Ne
= tOrleaus. We have heard good de-