The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1905-01-22


terms apply to the Schaffer brothers.
The quotations above do not pre-
tend TO be exact; they are merely mar
ratiye; it would have been both gross
and chilling to have pulled a note
book on Mr.. Ricaud They represent
not his words, but what he said.
In another column it will be noticed
that Mr.. Williams has said that Mr..
Ricaud had appeared before a COM
mittee of the Legislature. Mr.. Ricaud
denies this definitely. He has done
nothing SO far, says he, and does not
propose TO do anything except TO pre-
sent the case of his clients in digni-
fled manner to the proper quarter. He
was i'll yesterday and visited the Leg
iSlature only casually for few min
utes. He did not know Mr.. Williams
and certainly he had not appeared be-
fore any committee. Evidently Mr..
Williams was mistaken as TO Mr..
Ricaud. That matter is an imma-
teriality.
But what is OF concern is this. That
the hour has struck when the Legis-
lature is called upon to deal with this
matter of the bonds which were is
sued in payment of the construction
OF the Western North Carolina Rail-
road, for ten of which. given by Mr..
Ricaud's clients TO the State of South
upon the jurisdiction, and to get for
the holders of the remaining $500, $50
principal and interest due upon the
terms of the bonds held by Schalfer
Brothers, the Supreme Court has rem
dered Judgment against the State.
Mr. Ricaud is undoubtedly frank as
far as he goes. But what of the facts
which can be but guessed at but which
peep from the veil of the mystery sur
rounding this whole transaction? Mr..
Ricaud was the partner of eX-Gove
nor Russell, he who started in to
catch and was baited by the Southern
Railroad. His attorneys, who suggest
ed TO recent Legislature in session
when this Ex-Governor was in the
executive chair and Mr.. Ricaud was
his partner, a compromise which the
Governors partner is now seeking.
have been the attorneys also of the
Southern Railroad. There is a ia
tality of direction about these bonds
which leads always in some direction.
TO that system. The men who intro
duce the bills are in the line, there
seems to be goal at stake, that does
not ever definitely appear Mr.. Ricaud
is a reputable attorney. His bust
ness here is legitimate so long as he
keeps to the course of a declared at
torney-ship on which he has started.
Mr. Ricaud cannot be expected to tell
all that he might. But his stock IN
trade must necessarily be no more
than mystery, than the forbidding or
disaster. Else what have Mr. Ricaud S
clients to go upon? They can do moth
ing except they give away their bonds.
1t is presumed that they are bust
ness men, who in the case Of South
Dakota stretched point which can
not be made again TO fit Nthe case.
Whether or not the reputed lobby ar
riveS or not, there must be remem
bered one fact which is the crlX of this
matter, which remains as q rule OF ac-
lion fore-ordained and foreseen, the
declaration of the Democratic State
Convention. written in the light of the
visit of gentlemen in the interest which
Mr. Ricaud represents. That declara-
ton was written with open eyes. 1t
saw the shadow of Butler and of Rus
sell behind the suit that was TO be an
entering wedge. 1t professed and
meant submission to the courts. But il
had about it nothing of intimated anX-
iety. 1t looked to the very arguments
and the very plain-spoken and frank
propositions which will be put forward
sin a business way TO the present
Legislature. il smelt out the cause
behind the gentlemen who come here
honestly as attorneys, as they have a
right to do.
Mr.. R1caud Is q pleaSaLI SenIleiildii
i'll legitimate business AS q de-
clared attorney he should be treated
in the capacity in which he comes
with a proper courtesy and with Il
greater firmness. There Will be other
pleasant men on hand-not so frank.
But despite argument, there remains
the rock of the Democratic declara-
tons at Greensboro:
After long and careful delibera.ion
and conference with many of its cred
itors. the state of North Carolina adj
iusted its debt upon a basis SO fair
and honorable as to win the approval
of the fin nciaI world and TO secure
ratification by nearly every creditor.
Attempts have been made 10 reopen
the question settled at that time by
the States WiSest AMI best men. HE
Democratic party of 1904 approves
the settlement made in 1879 and will
forever oppose any and all attempts
from any quarter to set aside the set
tIement then made. 1t will abide the
mandates of the courts but ii will nos
consent to reopen the settlement that
was alike credi;able to the State and
fair to the holders OF its securities"
The Schaffers must give away all
their bonds or they must meet the
act of 1879.