The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-09-28

stitution submitted to their: sdscsion The foov,,.
comprise the acts regulating the financial affairs OF the
State
Requiring all laws creating corporations not possess
Prohibiting the creation o any State bank what.
apv or acs become
~ curing that all acts au thorising corporations or
,h Win banking pow. rs shall take effect only
To he taken at some general cleo tiAn
Making al stockholders in such corporation liable
Ir tue deps OF the same to the xteut OF the amount
OF the value Of their shares In ,iuci corporation
Restricting the general assembly borrowing any
money unless In cases Of insurr ou invasion or war
without Submitting the law, auht rising the loan and
providing for its payment to the people least three
months before the time OF voting oil the same reouripg
majority OF all the votes embers Of the general
assembly to give to :nch law Validity and force.
in aid of any individual corporat5 association
Adopting an equitable system Iof based upon
the actual valuation of property.
By auhorisiDg the levying of capitation tax when
the general assembly may deem II sxpsdent.
Two articles adopted BY the convention. to a.
submitted separately to the peo ps distinct prop M
tions leaving the residue Of the constitution unsf acted
by the action thereon The fl st restricts the i'm MGR.
ton and introduction under gay circumstance or free
negroes into the State the second is the art provd
ing for the imposition Of sax Of two mills N tho dol
lars worth taxable property in the State the
Of which to be applied tn the dscharg OF tho entire
debt known the internal improvemeT C debt nv Ars
paying the principal of IA debt and the iutersst
crued and accruing thereon This tics ooutsmn.te
the part of the cred' tors to this uropos
ton.
The principal part of the debt 10 Ss24s $50; two mil,
tax in is4s will produce abort 100000 This tax will
annually at the r Of about seven ner csntuu
throughout the twenty W ars reasoning from anna
rencs connected with western advancement. Taking
these two propositions the bas for calculation in
nineteen years, this tsx will Yield ssls4ooo, which
leaves unpaid Of the principal only SOL $50 There is
however, already accrued SAP AZ s7a Of interest which
will be increased to about So 900 900 before this
can be carried into operaS There will accrue during
the nineteen years $s making the aggregate of
interest due at that time $655s GIG, which, however
subject to constant REDUCTION from threeths of tn,
mn anu nsi iuSd low raised, which, in the nineteen
years. s27s4aOO leaving interest then really
que Amounnp to $s,776Slo To this add the unpaid
Ps'.A principal $5l $50, and we have So s26 9s6
.nout any great increase Of interest," il yet tc
20 u' >narged. To do this have the aggregate
I'D produced from the three-ffths of the mill and "a
hsf tax, and from the two mill tax which, in the six
following years. will produce 7OO which viii liqu
date the whole amount, being an excess Of nearly
$500 600
The value Of agricultural and other products import
ed into Cincinnati by river canals railroads for the
year commencing September s46, and ending August
81 ls47 inclusive distinguishing the value of each de-
scription, was annexed