New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1852-07-30

pledge It's fifth for stock give its credit to associations
Laid on the table -.stak a.. ~
Mr. Hunt, before going to vote on the amendment by
Mr. Eustis addressed the Convention Mt much length,
and with rreat effect He took general view Of the ad.
vantarcs of railroads and showed the folly of the State
demanding additional security for its one.h of stock
when private individuals had already subscribed four
fhs Tint was always induccent enough for the State
to subscribe one-fh. Always sufficient guarantee to
the State that the enterprise was feasible one. He
called on those who asked that the friendly aid of the
State should be cloeged with additional securities to
barrass the operations Of railroad companies point out
to him single railroad protected by the guarantees that
were already given here bankrupt not max
ing money He went the whole ground Of the benefits
dused by railroads. and enrapured his audience by his
impassioned oratory completely that when he had
cuded Mr. simms, who is opposed to Mr. Hunts views.
asked the Convention not to vote while the influence Of
that scntleman's powerful appeal was yet upon them
Mr. BENJAMIN offered substitute to the article in the
report The substitute allowing the State to pledge its
hth or subscribe to stock TO the extent Of oneth Ca
pta Stock Of m Association for Internal Improvements
wholly partially within the limits of the State - and
leaves 1t to the Legislature to say what security the State
may require.
Mr. Buard offered amendment providing that por-
ton of the funds for which the State should be allowed
pledge It's faith should be applied in continuing the Ope-
iousas road up to the Tcnsas line
This was laid on the table.
Mr. Heron offered an amendment providing that no
company in which The State should take stock to any
amount should have banking discounting privileges
This amendment the Convention refused to lay on the
table.
Mr. Palfrey then offered an amendment to Mr.. Benja-
minis substitute to strike out the words or partially
Mr. benjamin made 0 mastery speech against this
amendment showing the uselcssness of my provision
all for internal improvements being inserted in
Constitution operations to be tied down to
geographical ststs lines tt the attempt made y the
democrats in s45 etcr the people against their will
newed Local measures he said did not require State
ad It was that extensive improvement that looked
State lines brought the of other States to
our DOORS which called upon the State for help. Mr. b.
was very animated in his calculation Of the effect of this
restriction which would leave the people and the Legla-
ure powerless they had been left by the Constitution
of 1916 He showed that the possibility of the State
pledgng its faith for stock in the Tehuanepec road and
other projects did not apply for they holy eut
the limits Of the State
Mr. Palfrey,s amendment which had the effect to re-
strict improvements within the limits of the State by
striking out the words " or partially laid the
table by vote Of IL yeaa to A nays,
Mr. Euss then offered the proriso to Mr. Bepia-
minis substitute that he had offered yesterday the art
yeas 60 nays.
Mr. BeDianin's substitute Qeaving security to be
given to the State for its amount of STOCK TO te fixed by
the Legaure then adopted by 80 yeas to AZ nays
This was all WE'LL and regained to the friends of i'm
provements all that they had lost yesterday besides
curing substantially all that they wanted this head
The Convention then passed to the second article
Of the Report on General Provisions, which reads
Art la TO liability shall be contracted by the State
above mentioned. unless the same be authorized by
law for single object work to be distinctly
specified therein which shall not take effect until shall
general election have been submitted to the people
and have received majority of all the votes cast for
against it. at such election. And the aggregate amount
of debts or liabilities hereafter incurred under this and
the preceding article shall at any time exceed
the sum of eight millions Of dollars.
Mr. Benjamin offered substitute to this article. The
substitute leaves the matter to majority of both Houses
of the Legislature instead of submitting it to the people
at general election.
Mr. Benjamin spoke again earnestly and eoquently on
this suhect-said that it well known that when sim
gle measures of improvement we're left to the people Of
tie entire State, they always liable to be rejected
that such provisions this would baralyse the hand
of Improvement
there appeared 81 yeas, Sc nays.
The President Of the Convention then said
'The substitute is not adopted He voting, 1t became
tie vote to adopt and Of course lost''
The Article above quoted was then adopted
motion to reconsider made and the whole of this
days work varied little, and perhaps with little
more excitement will be gone over again tomorrow.
OBSERVER