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Página 5
... adapted to the practical operation of the provisions, under the system then
existing of administering the canals and keeping the public accounts. It first
requires the payment of the expenses of collection, superintendence and
ordinary repairs, ...
... adapted to the practical operation of the provisions, under the system then
existing of administering the canals and keeping the public accounts. It first
requires the payment of the expenses of collection, superintendence and
ordinary repairs, ...
Página 6
It was, therefore, not in authorizing new mortgages—it was not even in expending
actual income upon the improvements which we did intend adequately to provide
for—but in discharging the existing liens of the public creditor, that our power ...
It was, therefore, not in authorizing new mortgages—it was not even in expending
actual income upon the improvements which we did intend adequately to provide
for—but in discharging the existing liens of the public creditor, that our power ...
Página 9
... the errors to which human calculations are subject, they did not materially
lessen the cost of transport, they would deprive us of the ability we yet possessed
, to effect that result in other modes, or to gradually discharge the existing
mortgages.
... the errors to which human calculations are subject, they did not materially
lessen the cost of transport, they would deprive us of the ability we yet possessed
, to effect that result in other modes, or to gradually discharge the existing
mortgages.
Página 12
If the borrowing from parties other than the state itself, to meet the payment of the
debts as they fall due, can be justified, it must be on the ground that it is only a
mode of prolonging the existing debts, until the sinking funds are able to pay
them ...
If the borrowing from parties other than the state itself, to meet the payment of the
debts as they fall due, can be justified, it must be on the ground that it is only a
mode of prolonging the existing debts, until the sinking funds are able to pay
them ...
Página 17
These views strike me as exceedingly narrow, and altogether inconsistent with
any fair construction of those portions of the constitution which concern the
payment of existing, or the creation of future, debts. The certificates authorized by
the bill ...
These views strike me as exceedingly narrow, and altogether inconsistent with
any fair construction of those portions of the constitution which concern the
payment of existing, or the creation of future, debts. The certificates authorized by
the bill ...
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Pay as You Go: Or the Unconstitutionality of the Nine Million Debt Bill ... Pré-visualização indisponível - 2017 |
Pay as You Go: Or the Unconstitutionality of the Nine Million Debt Bill ... Pré-visualização indisponível - 2017 |
Palavras e frases frequentes
adopted amount annual anticipation applied appropriated authority benefit bill Black River Canals boat borrowed called Canal Board canal revenue certificates committee completion Comptroller Constitution construction contained contract convention created creditors debt deposit direct doubt duty effect eight Erie Canal enlargement executive existing expenditure expenses faith fiscal future Genesee Valley give given hundred thousand dollars important impose improvements income increase intended interest issued language legislative Legislature less liability limited loan locks manner means measure millions of dollars mortgage necessary nine millions object obligation officers opinion ordinary paid party pass passage payment period person pledge present principal prohibition provisions question receive remainder respect restrictions Senate sinking funds specified Spencer sufficient supposed surplus revenues thereon tion transaction Treasury Valley and Black violation whole
Passagens conhecidas
Página 45 - The Legislature may at any time, after the approval of such law by the people, if no debt shall have been contracted in pursuance thereof, repeal the same...
Página 44 - ... to pay the interest and redeem the principal of that part of the State debt called the General Fund Debt...
Página 29 - No moneys shall ever be paid out of the treasury of this state, or any of its funds, or any of the funds under its management, except in pursuance of an appropriation by law...
Página 45 - The Legislature shall never sell or dispose of the salt springs belonging to this State. The lands contiguous thereto and which may be necessary and convenient for the use of the salt springs, may be sold by authority of law and under the direction of the commissioners of the land office, for the purpose of investing the moneys arising therefrom in other lands alike convenient; but by such sale and purchase the aggregate quantity of these lands shall not be diminished.
Página 45 - ... provide for the collection of a direct annual tax to pay,, and sufficient to pay, the interest on such debt as it falls due, and also to pay and discharge the principal of such debt within fifty years from the time of the contracting thereof.
Página 45 - No moneys shall ever be paid out of the Treasury of this State, or any of its funds, or any of the funds under its management, except in pursuance of an appropriation by law ; nor unless such payment be made within two years next after the passage of such appropriation act; and every such law, making a new appropriation, or continuing or reviving an appropriation, shall distinctly specify the sum appropriated, and the object to which it is to be applied ; and it shall not be sufficient for such law...
Página 31 - State, on or before the thirtieth day of September, in each year, for the use and benefit of the general fund, such sum, not exceeding two hundred thousand dollars, as may be required to defray the necessary expenses of the State; and the remainder of the revenues of the said canals shall...
Página 45 - ... payment of any part of the moneys to the said sinking fund shall at any time be deferred, by reason of the priority recognized in the first section of this article, the sum so deferred, with quarterly interest thereon, at the then current rate, shall be paid to the...
Página 4 - Canal enlargement, and the Genesee Valley and Black River canals, until the said canals shall be completed. If at any time after the period of eight years from the adoption of this Constitution, the revenues of the state, unappropriated by this article, shall not be sufficient to defray the necessary...
Página 23 - State, unless such debt shall be authorized by a law, for some single work or object, to be distinctly specified therein ; and such law shall impose and provide for the collection of a direct annual tax to pay, and sufficient to pay the interest on such debt as it falls due, and also to pay and discharge the principal of such debt within eighteen years from the time of the contracting thereof.