The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1905-05-07
AFTER CARPET BAG BONDS.

Did you ever reflect that when a
Southern politician turns traitor to his
section and is repudiated. he immedi-
ately begins to induce Northern specu-
lators to join him to make war on
his State and people? Just as soon as
North Carolina by a decisive vote in
1898 repudated Russell and Butler,
they began to scheme how they could
get rich by injuring the State. While
still in office, they were active man
ayers of the South Dakota fraud
upon the jurisdiction that put money
i'm their pockets. In morals they were
guilty OF treason toward the State of
which they were officials. They have
now induced Coler & CO.. of New
York, to go in with them to buy up
other Southern bonds. They are loud
in their protestation that they would
not be guilty of compelling North
Carolina to pay fraudulent carpet
bag" bonds. o. no; those sweet
scented South Dakota schemers only
wish to collect what is honestly due.
North Carolinians would as soon trust
Littlefeld and G.. H. French. They do
protest too much"
There is another syndicate organized
to buy up North Carolina and other
Southern repudiated bonds. of which
John Ct. Carlisle is the head. He be-
trayed the people of Kentucky politi-
cally i'm 1896, they utterly repudiated
him, he then moved TO New York city,
and now wishes to- compel the pay
ment of repudiated fraudulent bonds.
He had hardly gotten in New York
before he was Morgan's attorney to
enforce the ninety-nine year midnight
lease by which Morgan & Co. got the
North Carolina Railroad for seven per
cent. They are now making twenty
five per cent. profit. If North Caro-
lima had been wise it could today be
getting ten per cent. upon valuation
of SIS, 1000, 900 instead of seven per cent
on $4,000. 600. The next thing heard
of Carlisle was as attorney for negroes
i'm Virginia who wished to have the
suffrage amendment declared uncon-
stitutional Now he turns up at the
head of a syndicate of rich men in
New York to try to impoverish the
South by compelling the payment of
bonds issued by buccaneering car
pet baggers' for which the States got
nothing of value.
The RUSSELL Butler syndicate adver-
tises that it refused To buy bonds like
those Carlisle & Co. are buying. Think
of il! Russell and Butler too virtuous
to do what Carlisle and Co. are seek.
ing to do. Tell that to marines! Rus
sell and Butler deal only in honest
bondsi"
The truth probably is that both
crowds are i'm league. but think they
can succeed better by pretending to
have no connection with each other.
one thing is certain: if the Supreme
Court ever decides it can make the
state pay Russell & Buffers so-called
honest bonds upon which there is
no collateral, that decision would open
the nood-gates and some day the
Supreme Court would be packed TO
order all the Southern States to pay
all the carpet bag bonds. The honest
bond" claim fools nobody If the
Supreme Court can compel state to
pay any bond unsecured by collateral.
IL can compel the payment of the
special tax bonds of North Carolina.
Russell and Butler and their allies
here i'm North Carolina who keep In
the background are the logical bond
descendants of Littlefield-no whit
better