LOUISIANA. 



report. While this motion was before the 

 Convention, a motion was made to amend the 

 minority report by extending the three per 

 cent, interest to ten years instead of five years. 

 This was lost yeas 49, nays 80. The minority 

 report was then lost yeas 47, nays 82. The 

 majority report was then put to vote and lost 

 yeas 40, nays 89. A motion was then made 

 to reconsider the vote by which the minority 

 report was lost. This was agreed to. A sub- 

 stitute for the minority report was then offered, 

 to scale the debt to seventy-five cents on the 

 dollar with four per cent, interest. An amend- 

 ment to this was offered, that the debt should 

 be scaled to fifty cents on the dollar, with four 

 per cent, interest. Another amendment to the 

 substitute was offered, that the debt should re- 

 main intact, and that interest be paid at the rate 

 of two per cont. for five years, three per cent, 

 for ten, and four per cent, afterward. An 

 amendment was offered to this last proposition, 

 that it be three per cent, interest for ten years, 

 and four per cent, afterward. This was lost 

 yeas 51, nays 68. Another amendment to this 

 proposition, that the debt bear two per cent, 

 interest till maturity, was lost yeas 23, nays 

 99. On the question to give the bondholders 

 their choice between seventy-five cents at four 

 per cent, and the face of the bond at two per 

 cent, for five years, three per cent, for ten years, 

 and four per cent, afterward, the vote was 

 yeas 25, nays 91. To amend the minority re- 

 port by allowing three per cent, interest for 

 fifteen years and four per cent, afterward, the 

 vote was yeas 67, nays 59. Finally, all the 

 proposed amendments were lost, especially 

 those for scaling the debt below seventy-five 

 cents on the dollar. After much subsequent 

 discussion, the whole subject was disposed of by 

 the adoption (yeas 71, nays 41) of the following 

 ordinance, to be submitted to a popular vote : 



ART. 1. Be it ordained, That tho interest to be 

 paid on the consolidated bonds by the State of Louisi- 

 ana be and is hereby fixed at two per cent, for five 

 yeara from the 1st of January, 1880, three per cent. 

 For fifteen years, and four per cent, thereafter; and 

 there shall be levied an annual tax sufficient for tho full 

 payment of said interest, not exceeding three mills, the 

 limit of all State tax being hereby fixed at six nulls. 

 Provided, the holders of consolidated bonds may, at 

 their option, demand in exchange for the bonds neld 

 by them bonds of tho denomination of five dollars, 

 one hundred dollars^ five hundred dollars, one thou- 

 sand dollars, to be issued at the rate of seventy-five 

 cents on the dollar of bonds held and to be surren- 

 dered by such holders, the said new issue to bear in- 

 terest at the rate of four per cent, per annum, payable 

 semi-annually. 



ART. 2. The holders of the consolidated bonds may 

 at any time present their bonds to the Treasurer of the 

 State, or to an agent to be appointed by the Governor 

 one in the city of New York and tho other in the 

 city of London ; and the said Treasurer or agent, as 

 tho case may be, shall endorse or stamp thereon the 

 words, " Interest reduced to two per cent, for five 

 years from January 1, 1880, three per cent, for fifteen 

 years, and four per cent, thereafter" ; provided, the 

 holder or holders of said bonds may apply to the 

 Treasurer for an exchange of bonds, as provided in 

 the preceding article. 



ART. 3. e it further ordained, That the cou- 



pons of said consolidated bonds falling due tho 1st of 

 January in the year 1880 be and the same arc hereby 

 remitted, and any interest tax collected to meet nucn 

 coupons arc hereby transferred to defray the expenses 

 of the State Government. 



& it further ordained, and it i hereby ordained by 

 this Constitutional Convention, That the foregoing 

 provisions and articles relative to the consolidated 

 debt shall not form a part of this Constitution, except 

 as hereinafter provided, as follows : 



At the election held for the ratification or rejection 

 of this Constitution, it shall bo lawful for each voter 

 to havo written or printed on his ballot the words, 

 " For ordinance relative to State debt," or the words 

 "Against ordinance relative to State debt" ; and in 

 tho event that a majority of tho ballots so cast have 

 on them tho words ; "For ordinance relative to State 

 debt," then the said foregoing provisions and articles 

 of this ordinance shall form a part of the Constitution 

 submitted if the same is ratified ; and if a majority of 

 the votes so cast shall havo endorsed on them tho 

 words, " Against ordinance relative to State debt," 

 then said provisions and articles shall form no part of 

 th' Constitution. 



This ordinance was to be submitted to tho 

 vote of the people on the same day with the 

 Constitution. 



The reason advanced for scaling the debt by 

 those who sustained it was that the question 

 of ability or inability of the people to pay was 

 the one on which the action of the Conven- 

 tion turned. 



The provision of the Constitution for the relief 

 of the delinquent taxpayers declared all inter- 

 ests, penalties, costs, fees, and charges whatever 

 on taxes and licenses due to the State or any 

 political corporation, prior to January 1, 1879, 

 and still unpaid, to be remitted. All property 

 forfeited to the State or any political corpora- 

 tion for non-payment of taxes shall be redeem- 

 able by paying the principal due at any time 

 previous to January 1, 1881, with eight per 

 cent, interest subsequent to January 1, 1880. 



The preamble to the Bill of Rights was as 

 follows : 



We. the people of the State of Louisiana, in order to 

 establish justice, insure domestic tranquillity, promote 

 the general welfare, and secure the blessings of liberty 

 to ourselves and our posterity, acknowledging and in- 

 voking the guidance of Almighty God, the Author of 

 all good government, do ordain and establish this 

 Constitution. 



Article 6 of the Bill of Rights was as fol- 

 lows: 



ART. 6. There shall be neither slavery nor invol- 

 untary servitude in this State otherwise than for the 

 punishment of crime, whereof the party shall have 

 been duly convicted. 



The General Assembly is authorized to cre- 

 ate a Bureau of Agriculture. The State tax on 

 property is not to exceed six mills on the dol- 

 lar, or five mills if the State debt ordinance is 

 not adopted. No parish or municipal tax, for 

 all purposes whatsoever, shall exceed ten mills 

 on the dollar ; and for bridges and other special 

 objects there shall be no increase of tax unless 

 first submitted to a vote of the property-own- 

 ers and approved. 



Among the other provisions of the Constitu- 

 tion are the following: 



