New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1852-08-21
o11lTCrAL JOURNAL
ssArpKDAr MORNING, AUGUST d, 1856.
1AE new CONSTITUTION prN.D1-
ssJSss GATED.


1Ak sEJv CONSTITUTION rrNDl
GATED.
oEsHss = PROVISIONS (INTERNAL IMPROVEMENTS
II reviewing the old Constitution, the obsery
~ snd Intelligent citizen will pause long an,
theughtfnlly over those provisions which refe
y Internal improvements He will note thai
they are not only positively restrictive but yirtu
NY prohihitive Of enterprise, progress and i'm
proveinsnt and he will, then, ask himself how
under such an organic law, our State can even
p otAerNise than the unprogressive China d
~ U1ipl.
{. ~ ~ look " those provisions, before exam
ming ~ more wise and liberal ones Of the new
GoSsfitsfion. r. .5.., .s.
II il y recognized principle in other States,
thet State cid, in ono form or another, is essen
tial 70 the successful prosecution Of works Of
thteFnsi improvement which are, Of course
: works Of public utility An association of in
d7SidaAls is accidental Of arbitrary in its ma
Ssfe and. as the amount Of credit fairly due
such ~ association can not be reasonably ex-
pectcd "A be known abroad, its credit can not
s -. At the best, more than nominal On the
t4er hand y State is recognized public and
Relitical being With something like an ascer-
taiued measure Of responsibility and, the loan
n fhAt credit. upon ample security, whilst it
oaa earcely injure the State, must enable IN
association for purposes of Internal Improvement
tcsdyance 70 point of successful progress
which u could net otherwise hope to reach.
But our old (present) Constitution absolutely
interdicts the loan Of any such aid from the
\ STATE upon any terms whatever Or no
security Even the very terms employed in it
show the narreWness Of the restricted view taken
nv the preiudiced and ultra Conventionists of
1916. The Constitution they framed, says:
Il & The Legislature shall NOT pledge the faith Of
the State for the payment Of any bonds, bills or
other contractsof obligation for the benefit or
use of any person or persons, corporation or holy
polite whatever" Art 1871 Arailroad CON-
pany is;a corporation or body polite \. and,
NJ acourae, under this clause, can receive no aid
~ pledge Of faith Cor endorsement) from the
The terms Of the prohibition assume what is
raise, indirectly u is true, but still so as to
piansl ply impress the popular mind. We argue
~ opposition to the assumption, that there can
not be any judicious work of Internal Improve
ment which will not benefit what is called the
State quite as much as the association of nor.
sons, the $ corporation or body polite . which
may undertake it, It will benefit the State BY
increase Of population and of value of property.
which necessarily increase the basis Of taxation
md thereby enlarge the States revenue. The
State more than individuals or corporations
dement's by works Of Internal Improvement; and
ZOE these reasons they at once increase and
create aryalue IN property and growth of DO.
pulation, whence the State may derive new
revenues; whilst the associated or incorporated
inaluduals who embark their capital in the
construction Of such works must wait, first, for
their compilation drawing no interest in the
meantime then, for the gradual return Of the
capital Invested, and then for the realization Of
reasonable interest upon their money, all Of
1hich must be q matter Of many years of hope
and anticipation. The profits Of the State Ito
give the whole matter briefly in a work Of In. |
ternal Improvement, are Immediate whilst those |
OF me publc- spirited, enterprsing and investing
capitalist are remotely prospective Let us
illustrate. 1t VIGOROUSLY takes from six to fif
Teen years to put o railroad into successful
operation; in such space of time many of the
a y subscribers must die Off fail in cir.
cumstances, or remove to another section Of the |
country But the States interests are immoy |
sple and permanent Georgia, before works Of |
internal improvement were began within her |
limits, had an immense portion of her territory
bhion was valued ct to 10 cents per acre, and |
taxed with nominal collections) at that value: |
railroads were begun and projected, and in less
lnan slx years the same territory was valued at
W. TO $lOp per acre and the State, instead Of
taxing, as previously, upon to 10 cents yalua.
ion per acre, now taxes upon SO to $40 valua-
uon per acre, and actually collects what she
imposes as taxation!
Hence, we say, the State being SO plainly an
interested party, is at least fully warranted in
endorsing, if not absolutely under obligations
70 subscribe to, judicious works Of Internal I'm
proyement ~.
But the old (present) Constitution shows its
absurd spirit in positively providing, as a sup
PIGMENT to the prohibition Of pledge of it's
lalth (even upon the amplest security tina,
: the State shall not become q subscriber to the
'toek OF any corporation or joint stock COM
pany. That is. it provides that what is most
argely benefited, shall contribute nothing, but
harvest al it can.
This restrictive instrument goes yet further in
The development Of its Chinese like spirit. I'm.
yer II no railroad company can exist for longer
IMAM twenty or twenty five years-and the very
Term Of existence is matter Of doubt. This is
virtually prohibition of all Internal Improve.
msnt enterprises. For, what capitalist Is pre-. 9
pared TO invest his money in things which re.
lulre SIX years for construction-ten for a re.
'urn q capital inyested-and twenty for the q
Of remunerating interest-if, at the
y p1ration Of the twenty years, the whole work E
g be at the oapricious mercy of a Legislature
4 uncertain elements S
Those who are interested in the N. O. md | /
ackson, in the N. 0. and Opelousas, and in the t
'icksburg and Shreveport, railroads. may a
ponder upon the suggestion of this aues-
ion. We defy them to give nm answer which $
MI not resolve these great public projects into
mprobabilities Money cannot be collected 4
'aliroad built-capital invested realized, and t
cir interest uponitsecured, in twenty or twenty
I've years land under our present Constitution 3
70 railroad company canexist for a longer period.
Ihe new Constitution proposes to alter this d
,arbarous and iliberal condition of things. The
State is to be permitted to pledge its faith for
r. III hscrife (unon adeouata sao,,;...> 30, | u