The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1857-09-03

ytaI, tuS i<sP ks6tlrc rusAh tIostut lux Ivy
ing Tax Tor the ensuing year sufficient,
with other sources ofincome, TO pay the sef'
cheney Of the preceding year together with
the estimated expenses OF such ensuing year.
Sec. }. Laws shall be passed taxing ali
moneys, credits, inyestmentsl 10 bonds stocks,
Joint stock companies, or otherwise, aud also
all real and personal property. according to
its true value in money; but public burying
grounds, public school houses public hospi-
ials. academies, colleges, universities. and al!
semnaries of learning, all churches church
property used for religious purposes and
houses Of worship. Institutions OF purely pab-
lie charity. public property used exclusively
for any public purpoSe and personal pro
l,erty to an amount not EXCEEDING III vaiuc
two hundred dollars for each Individual,
shall by general laws, be exempt from TAX
alton.
Sec. A. Laws shall be passed for taxing
the notes aud bills discounted, or purchased
moneys loaned, aud oil other property, e.
fects, or dues of every description, Of oil
banks and of ali bankers; 40 that all proper
~ employed in banking shall always be sub
lect to a taxation equal 70 that imposed ON
the property Of individuals.
Sec. 5. For the purpose Of defraying
extraordinary expenditures the State may
contract public debts. but such debts shall
never in the aggregate exceed two hundred
and fifty thousand dollars; every such debt
shall be authorized by law, for some single
object to be distinctly specified therein; and
no such law shall take eject until il shall
have been passed by the vote of twothirds
Of the members Of each branch Of the leg
stature to be recorded by yeas and nays on
.s--.. !-'-. ::,
every such law shall levy a tax annually
sufficient to pay the annual interest OF such
debt, and also a tax sufficient to pay the
principal of such deb, within. ten years from
the final passage Of such law, and shall sps-
cially appropriate the proceeds OF such taxes
10 the paymen. Of such principal and inter,
est; and such appropriation and taxes shall
not be repealed, postponed. or diminished
until the principal and interest Of such
debt shall have been wholly paid. The
State shall never contract amy debts Tor
works Of internal Improvement, or b. a
party in carrying on such works, except in
cases where grants OF land Or other property
shall have been made TO the State especially
dedicated by the grant to specific purposes,
and in snch eases the State shall devote
thereto lbe awaits Of such grants. and may
pledge or appropriate the revenues derived
from such works in all u their completion.
Sec. G. IN debts authorized by the pre-
ceiling section shall b. contracted by loan on
state Bonds ofamounts not less than five
hundred dollars each, on interest. payable
within ten years after the final passage OF
the law az thoriziug such debt and such
bonds shah not be sod by the State under
par a correct registry Of all such bonds
shall be kept by the Trcasunr. in numerical
order, so as always 10 exhibit the number
ani amount unpaid, and to whom seyerally
made payable
See. I. The State shall never contract
any public debt, unless in time Of war, to
repei invasion or suppress irsurrection, ex.
eept in lie CASES and IN the manner proyi-
ded in the fifth and sixth sections OF tbs Az
tle'e.
Sec. 2. The money arising from any
loan made or debt or liability contracted.
shall ne applied 70 tie object specified in
the act authorizing such debt or liability, or
to the repayment Of such debt or liability,
aud TO no other purpo6e whatever.
Sec. .. Nomoney shall ever be paid out
of the Treasury Of this State. except in pur-
susnce oian appropriation by law.
Sec. 10. The credit OF The State shall
never be given or loaned ia a.d Of any indI
vidal, association on corporation.
.ec. IL. There shall be published BY The
Trr.surcr, IN at least 0se newspaper printed
at the sea; II government, during the FIRST
week IN January Of each year, and in the
next volume Of TIE Acts Of the Legislature,
detailed statements Of all Moneys drawn
from the Treasury during tbs p-ccesling year,
for vhct purposes, anA - whom pad and
By wliai law auihoriz,l, AID also OF all mon
eys received and by what authority. and
rom whom.
sec, II, Suitable laws shall DC passed
by the legislature Tor tAa sab' kcepiug
tfansfer, and disbursement q the STATE tb.i
School fund, and al officers and othr per
sons caargei with the same SHALL De tIGirud
to give ample sccsui'y for ali .aJorys and
funds ofany hitd. 10 KEEP an uccurais cntry
~ each sum received, and % each payment
aud transfer, AID II any 81 said officers or
other persons shall CONVEX, - Is owu usc Ia
any form, or shall loan vii! o. without ia
teres,. contrary 70 law or shall acpsi' in
banks OF exchange for o,her flsa any por-
ton ID the funds OF the tate. every such at
shail be adlndced 70 bc az eiapez;iemert a
90 mach Of the STATE funds o. shah b. thus
taken, aad shall be declared = felony a,j
any failure To pay ovrr OF prodace the state
or School funds ,air1sssl 70 snch per81n ~,
81 demand, sbagi b. bed ami taken % be
rr.zsa fare evidnce of s1ch ciabez1isin.r.
3ec 10. 11,e ISgi.iafuro faay y
.wo tbr!s vote. pass GtseTa. 3ankiaz
law. With ihs iolsowieg rsstric;ioGs Atd re-
qaiFefinls VIZ.