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The weekly Louisianian. [volume] (New Orleans, La.) 1872-1882, July 04, 1874, Image 1

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Persistent link: https://chroniclingamerica.loc.gov/lccn/sn83016632/1874-07-04/ed-1/seq-1/

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° p IiOniSI AN A.
fjt tjdntelamiaa.
Tea ms of S ubscription
O we
Sa M ouths
Tim M oxthb
S inou C opt.
..$2 00
... 1 50
... 75
... 5
' Squares |1 vtorJ mos
1 Cobras«
3 mon
6 mos
1 yi
The reccnt legislation of Con
gress, so amending the charter of
the Freedman's Savings and Trust
Company, aa to place the institution
upon a broader and firmer basis,
and give to its Trustees a larger
measure of discretion and control
of its management, may be well
enough made the occasion for
brief statement of facts and circum
stances which have a bearing upon
the legislation in question and upon
the future existence and success of
the Freedman's Bank.
It is very evident that Congress
Was animated in its legislation by a
genorous desire to conserve and
strengthen an institution of known
usefulness to the people in whose
interest it was created.
In regard to the condition of this
corporation, certain facts have
already come to public knowledge,
through the publication of the re
port of Mr. Meigs, the Bank exami
Jt is necessity to disguise or ex
pl ain away by false processes the
facts thereto stated. It is known
that on the first of January, 1874,
our liabilities exceeded our assets
to the extent of $217,000, and it is
also known that nothing occurred
ainee that time to materially dimin
ish the spaoe between these assets
and liabilities, though it is due to
state that several considerable loans
which were supposed, at the time
the Report was made, to be bad,
have tnrned out to be good loans.
This deficit, now admitted and
nerer denied by the undersigned, is
Tfliy easily accouuted for, and it
may serve a good purpose to state
the cause of its existence.
Fir*. The managers of the
^»»loan's Savings and Trust
• ^ T ® ^fortunately endeavored
to make the Freedman's Bank
°°fflpete with older and better
•rtabliahed institution of the kind
In attracting and securing a large
•mount of deposits by holding out
UAindooement of a larger percen
■geI of interest than was warranted
the earnings of the Bank.
f course any corporation, nation
w family which spends more than
earn^ will in due time find its
•wars exhausted.
Äwnrf Another cause of this
^ at of $200,000 is found in the
that the fQrmer managers of
tteedman's Savings and Trust
t. mM krt°ok to do too much work
mother direction; impressed as
7 were with the sense of the
J benefits of savings institu
0,0 freedman of the
ZfMhey Wera tempted into a
of banking missionary move
established and
>8 of the institur
«i remote places in the South
*» and where it was almost
«raid become
third^ -. cann ? t b ? doubted
®ause has in a large
»RaiMt the, suc
Tae Freedman's Bank, and
this cause happens to be on© which
lt is most difficult to deal with be
cause it is inherent in the enterprise
itself, and no wisdom which the
managen of the Bank can exercise,
can counteract or remove.
This institution conspicuously
and prominently represents the
idea of progress, and elevation of a
people who are just now emerging
from the ignorance, degradation,
and destitution entailed upon them
by more than two centuries of sla
ve|, y- j
A people who are hated not be
causa they have injured others, but
beoause others have injured them,
This feeling of caste, this race
malignity, has naturally enough
taken about the same offenoe at the
Freedman's Bank, as it did the exist
ence of thé Freedman's Bureau.
It is as desirous to destroy the I
former as it was to destroy the
ktter. I
Fourth. Still another and greater
source of evil has been the sense
less runs made, from time, to time,
upon the Bank. These have com-1
pelled the withdrawal of large sums
of money from very safe and profita
ble investments, and have diverted
the regular business of the Bank
from making money for its deposi
tors, to the work of obtaining the
means of meeting the demands of
these disastrous panics. The
Freedman's Bank has been sub
jected to no less than three of these
raids during the last eighteen
monthe. J
The run made upon the Bank by
the failure of Ja\ Cooke & Co., cost
m not Im» tban fifty thousand I
dollars from safe and profitable in-1
Add to these causes the general
prostration of business, the great
loss of confidence in all moneyed
instntitulions, the disturbed condi
tion of affairs, especially in the
District of Columbia, whêi'e, most
j of our loans have been made and
I jrou vrill easily understand
« i 7 « , .
® Freedmaa 8 Bailk 13 uow under
a heavy strain, and found it ncces
sary to seek protection in the recent
amendments to its charter.
In respect to the future of the
Bank, some of the main sources of
danger and ruin have been entirely
The trustees governed by an in
creasing concern for the safety of
their depositors rather than for
large profits in the way of interest,
have abandoned their unwise com
petition with otherB in the offer of a
high per centage of. interest, and
have now resolved to pay only such
a rate as the ret earnings of the
Biftk will warrant them in paying.
They have also given up their
wild and visionary schemes of bank
ing, and have abandoned the policy
of establishing branches in remote
corners of the country.
They will now establish none
where there is not a very strong
likelihood of their becoming self
sustaining. Not only have they
discarded the policy of extension,
they have adopted the policy of
closing up as speedily as is conven
ient and practicable the non-pay
ing branches now in operation.
They we not only for decreasing
the number of branches, but also
the number of employee, and for
reducing the salaries of their agents
to the lowest point consistent with
securing the services of good men.
With this retrenchment in ex
penses, with wise and vigorous man
agement, and with the returning
confidence of our people, it is be
lieved that the Freedman's Savings
and Trust Company, which has
been a powerful instrument in
promoting the moral, social, and.
intellectual welfare of our people
will survive and flourish despite the
machinations of its enemies.
The effect of the legislation re
cently enacted upon the Bank will
naturally inspire confidence. It is
indirectly a strong endorsement of
the honesty and the ability of the
trustees of the institution.
I It puts the destiny of the Freed
man's Savings and Trust Company
more completely than heretofore
within their power and discretion
J It devises an honest method of
keeping the institution in continued
and successful operation, while it
at the same time enables it to ac
complisli ail the objects usually
sought in suspension. It com
pletely divorces the past from the
present and future. It separates
the old from the new, and allows
j the dead past to bury its dead. It
aims to protect the new depositor
from all the mistakes and misfor
tunes connected with the manage
ment and past condition of the
For the interests of the old de
positors it enables the trustees to
hold their securities as long as may
I be necessary to reap the full
amonnt of interest they are capa
I ble of drawing, and then allows the
trustees to fill up the chasm which
! may exist between assets and lia
It puts it in the power of the offi
cers and agents of the freedman's
Savings and Trust Company to say
with confidence and truth to all our
old depositors, give us time and We
will pay you every dollar due yçç
from the company.
To the new depositors it enables
jus to say with even more confidence,
you may deposit with safety and
profit You are neither affected
by past losses, nor past mismanage
J ment.
by Tour money shall not be in any
cost way mixed up with the old, nor
I tnfeen to pay old debts. It «hall
in-1 Iield as epecial, and invested for
yonrspdal benefit
I In one aspsct this bill may be
said to place the old Bauk in liqui
dation, while it at the same time
creates a now one. It preserves
the the old body, but informs it with
| new life, and gives it a better assur
' ftnee of continued existence
What is now needed is wisdom
courage, skill, and determination
With these the Freedman's Savings
Bank may be made not only a sue
cess in itself, but a grand means of
success to the colored people of the
South to whom it has already taught
important lessons of industry, econ
omy, and saving.
The history of civilization shows
that no people can well rise to
high degree of mental or even
moral excellency without wealth
A people, uniformly poor, and com
peÜed to struggle for barely a phys
ical existence, will be dependent and
sed by their neighbors, and
will finally despise themselves
While it is impossible that every in
dividual of any race shall be rich—
and no man may be despised for
merely being poor—yet no people
can be respected which does not
produoe a wealthy class. Such
people will only be the hewers of
wood and drawers of wator, and
will not rise above a mere animal ex
istence. The mission of the Freed
man's Bank is to show our people
the road to a share of the wealth
and well being of the world. It
has already done much to lift the
race into respectability, and, with
their continued confidence and pa
tient co-operation, it will continne
to reflect eredit upon the race and
promote their welfare.
It has long been a bitter com
plaint against the Freedman's Bank
that it withdrew money from dis
tant localities and invested it here
at the capital. The bill which has
now become 0. law has removed all
ground of complaint on this point
It provides that loans shall be made
in the vicinity of the different bran
ches, so that the people who deposit
their money may now feel assured
that it will not be withdrawn to
build up Washington, but will be
employed to quicken industry and
improve the condition of the coun
try where it is collected. This fea
ture of the bill alone goes far to
recommend the Freedman's Savings
and Trust Company to the confi
dence and favor of the colored peo
A contemporary calls his items
"Nits," to show that he gets them
out of his own head.
A little boy in St Cloud a few
days ago undertook to see if he
could lift himself by han ging ou a
mule's tail. He found out all about
it, and the doctors think the skin on
his forehead will grow up, but will
leave a bad scar.
"Where are you going ?" said a
young gentleman to an elderly one
in a white cravat, whom he over
took a few miles from Little Rock.
"I am going to heaven, my son. I
have been on the way eight*
years." "Well, good-by, old fellow
if you have been traveling toward
heaven eighteen years, and got no
nearer to it than Arkansas, I'll take
another route I"'
As a stout old lady got'out of
crowded coach in front of the Russ
House the other day, she exclamed
"Well, that's a relief, any how 1"
To which the driver replied, eying
her ample proportions, "So the 'osses
think, mum."
Hugh Donahue, who is attemping
on Hampden Park the feat of walk
ing a thousand miles in a thousand
hours, will finish his eight hundHfedth
mile at 12 o'clock to-night. His
o'clock to-night. His
walking is at last beginning to tell
on him. His cheeks are sunken,
and probably not an ounce of
superfluous flesh remains upon his
body. He finds it difficult to
awake while walking in the night,
and fell sound asleep while on his
2 o'clock round last night He has
grown very nervous and irritable,
bis vexation and rage when crossed
amounting sometimes almost to
mania. At other times he has been
despondent because the gate money
has fallen so fur below his expecta
tions. His pulse was down to
seventy-one this foi-enoon, and his
« ——— e™
physician says that the tremendous
~;»ivi»u o*\n vunif tu« ueiueauoasj
2br$ ho is making has developed
leart disease, to which it seems he
u— u„t— „„.i J
and thati
ha3 been subject before,
sooner or later he will drop dead,
as the result of his thousand miles I
walk. Tho physician still thinks,
however, that his strength will hold
out until Saturday, the 27th, when I
his walk will be complete. In other J
words, he will probably proform
at the ex-1
the feat, but will do it
enpense of his life.
An Atlanta child, only three
years old, makes its parents proud
and happy by carrying forty-eight
pounds of meal fifty yards.
A Delaware man, airested
"V _
murder, proved that on thai night
and at the hour of the murder he
was at home mauling his wife, and
this fact saved him. A word to the
wise is, and so forth.
The Brooklyn Argus is of opinion
that a kind word "will always go
further than a flat-iron or a potato-1
A Danbury young man who felt
on a Western «TpAdîti^ was bid
ding his friends good-by the
depot when a youn g girl cried out
'Bring me the scalp of a Modoc,
i't you?" The young man,
a little hurt at her indifference
lis departure and the dangers be
was about to encounter, »dly
replied, "No, Emma ; you ghould
not look for more hair until you
" Did you e ver go to a military
ball?" asked a lisping maid of
old veteran. "No, my dear,"
growled the old soldier? "in those
days I once had a military
come to me. And what da J°u
think it did? It took my leg off"
A Rem a r kably dirty man stepped
in front of a small boy sitting on
fence expecting to have some fun by
chaffing him. He said: "How
much do you weigh?" The answer
was, "Well, about as much as you
would if you wore washed."
A loyal American lady, writing
from London, thus gives her opin
ion of the system of "tips" on the
European plan:
In addition to the ordinary ex
penses of bed and board in London
must be reckoned a large tribute
paid to the îmquitom European
of "tips." It is strange
enough to an American, wonted to
the lavish liberality of our theatri
cal managers, to be obliged to pay
for the programme he uses at the
theatre or opera. And also so I
strange that probably he will not at
first comprehend it is the daughter-1
of-the-horse-leech look which the |
usher who shows him his seat at the
opera or theatre gives him if he does I
,not voluntarily slip sixpence into
said usher's palm. You cannot in-1
quire your way in the street, that, in
all probability, thé interrogated will
not reply,'1 can't desoribe the. way, I
but I'm just going there and will
show you." That means a shil
ling thirty cents in American cur
rency, although only twenty-four I
cents in American coim. You see
one can take a cab almost as eco
nomically as to inquire the way.
The waiter who brings me a single I
cup of chocolate in a cake shop
hangsI abouti my presence as if re- l
sponsible for the one spoon with
which I sip the beverage, till I be-1
think myself that I am in the land
of leeches, and give him his ex
pected "tip. If I cross the street, I
a filthy wretch darts before me with I
a stump of a brodln, and, stirring J by
up all the dirt possible in so short a
time, to make my passage a trium
phal march of dirtness, and my rai- our
ment liie nntothe raiment of the
confederate army in color, stand.
whimng for lus top, I cannot call C .
cab that another loafer does not
* ««»mat anomer loaier does not|
| dart ^ward to open the door for
• me, and stand with a mouthful of | ^
# » ore
** I fail to render him
ute . peaay or two. One C08
cannot go into many of the city
c f nno t fc ß ointoman y of tho cit ? land
churches on week days, that some
one, verger or pew opener, does not
force companionship t
the tune of six pence.
° ne ' verfc ' cr P°^ °P® D ® r > dos « D °t I we
° rc ® com - ship upon you, to I
0 tune °* fe!X P eD( ? e *
0 °* fe!X P eD( ? e *
I ^ i® astonishig that even the low
J k° ru Britisher v and he is among the
ver y ^ re S a afl civilized humanity)is
ex-1 n °t ashamed of this everlasting
ing in wait for "tips," like a mangy
cur sneaking after every wayfarer
snap up whatever may fall from his
store. It is depressing to] one's op-1
timistic views of the^dignity of hu
man nature—quenching to one's
I faith that all character is the evolu-1
tion of a Divine idea, to live weeks
in this mighty Babylon, and to be
J bled at every pore as only the base
born Briton knows how to bleed.
The cab system of London is quoted
abroad as the very climax and acme
I of public vehicular perfection. But
on ® doesn't realize, till he tries the
system, that these quotations don't
I ?° far enon 8 h exhaQ8t the Bah ~
i 6 ® 4 " Ifc seems exc ®edingly reason
ab5e to 1)6 char 8 ed but ft «billing a
I f° r ^ farej but it must be
[borne in mind that, every English
feel-1——-*»— , f
we haT ® P*»« thirty cents of our cur
j reQ 93 r # •"d* moretyrer, that an En
gü®b cabby's miles, when an Amer-|
I ican ia his paœengtM", measure sev-|
I er ® 1 f Qr l°°ß« 0*®° a «orveyor's.^j
. pay one porter sixpence (fifteen
I oe Q t g )| or a shilling, if you have
In, 0 re than one piece,for putting
on the M b f and anothèr the same
for ig3dng it off> while cabby, like a
2itUe cberab, sits up aloft,
severely indiferent to your pangs as
you pay out your money for what I
an American Jehu would «m der a j
P®t °f his obligation. J
When one leaves a boosQ in which I
he has been either guest or boarder,
the servants gather about his exit I
as vultures about carrion, that no I
one may miss probable "tips."
The Republicans of the Parish of
Assumption met at Napoleonville
on Friday the nineteenth instant,
to transact business, and the follow
I ing named persons were appointed
as the Parish Executive Committee
to wit: Baril Graves, Jones
I Hughes, Levy William, Lucien
Pugh, Samuel Ross, TaTNixton.
Isaiah Prophet, Laudolph Pendle
ton, Amos Placensier, Patrick Baw
man, George ^instead, Thdmas
I Divine, Arthur Hardison, Lee Cole,
Attway Johnson, Maver Cohen,
James Laudix; A. G.* Jones, Ii
Dickerson, Anthony Tunson
Gustave Nicaud. *
I The meeting unanimously adop
ted the following resolutions, art
sentcd by ft*»?! Graves:
Resolved^ That we thoroughly in
dorse the wise and
I policy adopted by our honored
chieitain, President U. & Grant» in
the administration of the federal
government, and it is the unani
I mous opinion of the meeting that
he has fully carried into effect the
pledges and principles of the great
Republican party of this glorious
I Union.
Resolved, That we have pride
l and pleasure in referring to the
judicious^ patriotic and reform
course so steadfastly pursued by his
Excellency William Pitt Kellogg,
our esteemed Governor, and thé
I officers of his administration in
building up the credit of our State
by his economical and financial
measures, which have given confi
dence to capitalists and stability to
our institutions.
rai- our institutions.
the Besolved, That w. indorse onr
eleetedSennter. p. Rs.Kncbb.dt;
call C . G antoine, onr Lhntenont Gov
not| ernor; Superintendent of Public
for Education, William G. Brown, who
of | ^ entiüed to oar md
» ore emiuea w our graucuae ana
f or their distinguished servi
C08 ^ ^ 0 j Bepublicanism;
i—u .
? land looking back on their past
course M a mnnU!6 for tho fatare>
°t I we pledge them our unqualified and
to I cordial support
J Resolved, That the sincere
J thanks of this meeting bo given to
J our Representatives in the national
I hall of Congress, Hon. Chester B.
ly-1 Darrall, for his distinguished servi
! ces in the cause of Republicanism
I and lo okin g back upon his past
I course as a guarantee for the future,
we pledge him our undivided and
J cor dial support.
j Resolved, That the sincere thanks
of this meeting be given to our
I State Senator Hon. T. A. Cage, for
the distinguished services he has
rendered to his district, and we
pledge him our unqualified support
I Th e follow ing preamble and
I resolutions, presented by Rev.
I George Armstead, were unani
I mously adopted:
Whereas, It has pleased the
I Almighty God to take out of the
wor ld our beloved champion, Hon
Charles Sumner, he who was our
I "pillar of cloud by day and our
I pillar of fire by night" to guide
«■» w
American citizenship; therefore, be
1 it
Besolved, Thai we, the members
0 fthe parish executive committee
0 f the Parish of Assumption, in
j h umble tribute of respect and erati
L d e for all that he has done and
it|suffered in the cause of liberty,
anrrenal suffrage and civil rights,
be it further
Resolved, That in his death we
recognize the national loss of a tried
I and true champion of human rçhtà,
j one whose life was devoted to tbe
J advancement of the colored race:
I and we rejoice to know that bii
labors were not in vain, but are
I crowned with abundant evidences
I of the rightfulness of abolition from t
(bondages as a necessity to the life '
of the nation.
Resolved, That we will ever bold
his memory in sacred veneration,
and will teach our children, and our
children's children, to revere and
honor his name.
On motion, duly soeondod, it
Resolved, That the proceedings
of this meeting be published in the
New Orleans Republican New Or
Jeans LomsiANiAi», Terrebonne Jfc
pubNcan and Assumption Chronicle.
Then on motion, duly seconded,
the meeting adjourned subject to
the call of the president
bazil graves,
Secretary ...
The Senatorial Convention, com
prising the parishes of St Jaipes
and Ascension met at the Court
House of the town of Donaldson
ville, on Saturday the 2oth daw of
June, 1874.
The Convention was called to
order by Mr. G. H. Hill of Ascen
sion, and Mr. H. O. Maher was
elected temporary President, and
H. Cohen temporary Secretary.
On motion of W. W. Buford that
a committee of five on credentials
be appointed by the president was
The following gentlemen were
appointed: J. Barney, V. Dickenson,
of St James ? W. W. Buford, Robt
Noel and Louis Lefort of Asoen
On motion a reoess of teu
minutes was taken to allow time to
the Committee on Credentials to
The committee being ready to
report the Convention was called to
order, when the following . report
was submitted :
ÂJBCKraxox, Jane 20 th, 1874.
To the President and members of the Sev. '
en tli genatotial Convention.
Gentlemen.—Your committee on
credentials beg leave to report the
following named delegates as en.
to seats in this Convention : O,
Perique, H. Hill, Jas. Barney,
Victor Miles, Victor Jones, R Sims,
John Johnson,' and V. Dickenson,
of St. James; Aaron Hill, Robert
Noel, V. Cantrelle, W. W. Buford,
Louis Butler, A. Knight, HL' O.
Maher and Louis Lefort, of Ascen
(Signed,) J. BARNEY,
Mr. H. O. Mab« was elected ;
President and Mr. H. Cohen Sec
On motion of Mr. V. Cantrelle, -
duly seconded, the Convention pro
ceeded to the nomination of a State
Senator for the Seventh Senatorial
District 7
Mr. A. Knight nom ina ted Mr.
Pierre Sandry. Mr. V. Dickenson
nominated Mr. W. H. Hnyw*
The motion that the election bo
by ballot was adopted.
Mr. V. Cantrelle moved that the
President appoint two disinterested :
persons as tellers. Tbe President
appointed Messrs. Z. B. Cohen and
Morris Marks.
A motion of Mr. V. Dickenson,
duly seconded, that tbe nominee
receiving the majority vote should
be declared tbe "nomine» of the
Republican party of the Seventh'
Senatorial District^' was canted.
On the first baBot Mr. Landry
received nine votes and Mr. Hagjns
seven. Mr. Lander was then de
dared the Bomi&m
On mot«», Mr. Lindqr's nomina
tion was declared unanimous.
Mr. Hagms was called upon for
a speech, bot begged to be excused.
Mr. Landry then stepped to the
front and addreüsed thé Conven
HisaddresM befog frequently in
terrupted by enthusiastic applause.
On motion, these proceedings.
were ordered published in the St.
Jamee Sentinel, St James Republi-.
can and Dénaldson ville Chief.
H. Cohen, Secretary.

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