Pay as You Go!: Or, The Unconstitutionality of the Nine Million Debt Bill DemonstratedW.C. Bryant, 1851 - 46 páginas |
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Página 8
... respect , the commissioners in 1841 , had calculated the capacity of the canal . In 1846 , it was an old lock , built with the canal itself , and single . There it stood , doing the business that came from both ways , and apparently ...
... respect , the commissioners in 1841 , had calculated the capacity of the canal . In 1846 , it was an old lock , built with the canal itself , and single . There it stood , doing the business that came from both ways , and apparently ...
Página 10
... respect to which the present question arises . THEIR CONSTRUCTION OF THIS SECTION . The material words of this section— “ shall , in each fiscal year , be applied , ” are the same as those of the committee , and the words- " in such ...
... respect to which the present question arises . THEIR CONSTRUCTION OF THIS SECTION . The material words of this section— “ shall , in each fiscal year , be applied , ” are the same as those of the committee , and the words- " in such ...
Página 11
... RESPECT TO THE SINKING FUNDS . Mr. Spencer argues that the principle of applying revenues by anticipating their receipt , is recognized and sanctioned by the provision , that if the sinking fund shall prove insufficient to enable the ...
... RESPECT TO THE SINKING FUNDS . Mr. Spencer argues that the principle of applying revenues by anticipating their receipt , is recognized and sanctioned by the provision , that if the sinking fund shall prove insufficient to enable the ...
Página 13
... respect to money which does not come into the treasury within the two years , revenue which does not accrue within the two years , it , at no time , has the slightest control . There is no period when it can constitutionally command or ...
... respect to money which does not come into the treasury within the two years , revenue which does not accrue within the two years , it , at no time , has the slightest control . There is no period when it can constitutionally command or ...
Página 14
... respect for truth and right . In officers sworn to obey the constitution , it is not only a violation of public trust , it is unconscientious and immoral . THE PRESENT BILL CREATES A DEBT . But , even on a construction so repugnant to ...
... respect for truth and right . In officers sworn to obey the constitution , it is not only a violation of public trust , it is unconscientious and immoral . THE PRESENT BILL CREATES A DEBT . But , even on a construction so repugnant to ...
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Palavras e frases frequentes
7th article accrue adopted amount annual anticipation appropriated authority bills of credit Black River Canals boat borrow money Canal Board canal debt Canal Fund Canal Revenue Certificates certificates authorized committee completion Comptroller Constitution constitutionally construction contract debts convention covenant creates a debt debtor declares deposit discretion doubt eight hundred Erie Canal enlargement expenditure faith fiscal future revenues Genesee Valley HORACE BROWN hundred thousand dollars impose income intended JOHN NOYES language legislative Legislature shall direct liability lien loan Lockport locks manner millions of dollars money borrowed mortgage necessary expenses object obligation ordinary paddle gates paid party pay the interest payment period pledge principal prohibition question received redeemable redemption remainder restrictions Revenue Certificates issued sell Senate session sinking fund specified Spencer sufficient supposed surplus revenues third section tion tolls tonnage tons transaction Treasury trust twenty-one uncon Valley and Black violation
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.