St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1889-11-30
BURKE AND THE BABY BONDS

0OVNS ANU IOE 0R0u OOtNOS.
Last Saturday afternoon the
Grand Jury submitted their report
in the baby bond case. Accom-
panying it was an exhaustive de-
tailed report Of the Treasurer and
Auditor Of the State, giving the de-
tailed evidence on which the grand
inquest reached their decision. The
report was IS follows:
NEW ORLEANS, Nov. %, 1889.
To Judge R. b. Mari:
Our attention has been, since our
last special report, called to the
alleged illegal issue of Louisiana
bonds bearing 3 per cent. per an
mum interest, commonly known as
"baby bonds. As far as possible
we have had before us this issue
and have personally and critically
examined about 100000 Of said
bonds.
The Auditor and Treasurer OF the
State have been before US, and in
connection with their examination
submitted a very exhaustive re-
port. We have SO conducted our
inquiry concerning the report that
We feel justified in declaring that
the evidence fully sustains the facts
set forth in that report, and We &C
cept and tender it as . part Of our
statement to the court.
There is no doubt that in Febru-
ary, 1885, the then Treasurer Of the
State, E. A. Burke, ordered from
the State Treasury at Baton Rouge
ALMOST ALL THE BABY BONDS
there held for purposes OF ex-
change; that he received them in
this city, and after receiving them
here, placed them upon the mar
ket; some he placed as collaterals
to secure loans, and others he sold
outright.
A large number are now in the
hands of citizens of this city.
The number paid in for taxes
will probably not exceed $1,000.
We feel justified in estimating
the illegal issue Of these bonds at
FOUR HUNDRED AND TWENTY THOU
SAND DOLLARS.
We are unable to discover any
excuse for the extra printing Of
bonds in ''green numbers, because
those executed under the first con-
tract were not exhausted, and large
numbers of them with substituted
and illegal numbers or certificates
have been issued. If there had been
an honest purpose it seems to us
that at least the originally printed
series should have been first ex-
hausted before others were printed.
Although we have striven hard to
find the plates from which the
bonds were printed, We have been
unsuccessful.
We are satisfied, however, that
they were much worn and probably
useless for the purpose Of further
printing.
We have suggested to the honor
able Attorney General that We
think it proper at the close of our
investigation that the report Of the
Auditor and Treasurer be publish
ed, and he agrees with US in this re-
gard. This report, taken with the
report Of these officers to the Gov
ernor, will, we think, sufficiently
present the facts of this particular |
issue to the people of this State. |
Respectfully submitted by the
Grand Jury. T. j. WOODWARD,
Foreman.
The above amount brings Major
Burke's stealings up to about;sSOO,-
700. We were badly deceived in
he willy Major, and there are whole
families like US. At one time he was
,ur choice for U. S. Senator, but
We think the Penitentiary is the
place for him. But he would not
,e there long before he would con-
'ert the whole institution into nego-
liable paper and walk of with it in
lis pocket.