New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-03-23

s~chn0ff eNC al UTL-Nt SOCK trT ore --ere-T
vi go may heresf % be appropriated tnst purplse
o. receive ITO toe Treasury unoer ihe provision %
ry lss heretofore passed. t. GugCe:i the ssd frui
hail he securely iIvseted arc re Dsn 9 perpet1s
md ard the iLooue thereof except 80 much e. /.
NAV b. Judged expscert 20 sppy to incre ,ss ~
sf-e cars sh I De srzlsly spp-lpria'e| 20 ne -
sr.- 4 Public ssboos iof the tqEal benefit Of sk:hs
tsep # lie Sieie snd Il shsL Lot De c)mpetAat
'fcr IL I-s .ssturs tn borrow. sPprcp-,;s the
,s,6 .rrd or psrt thereof { sas o.her pufp,se
'unseT sIy prtisa-e rh,ie'eF
"Ite state - IO~ u debt b4youi ,ba limit pre-
.c,jb4t II the Cersitrron $40 flocs srs na-csi -
mes. - prerent aod scC.uirg Lao liie- Ire safe
80. .-Cu, 8u0unt y OF taeir IA e to So i.I -
hvrea.is 40 Q00 IT. State Eil not no 3 ..rrica
II, sl0lUO ~ raising toe money i wants by sac ~
hoe s.cl-.ues IL tee sTkst bu; proposes 10 pass
DR. overo tie School Furd a. thor psy ysne gu4r
.rt.,irr tier pay ment in fGu Al maturity There se
sync-y ohjec! 0ts 70 As proceeding l. yiOstss 10
~ iac me -, both the ieer AID spin, Of tie Coas.-
trtCu.
.Ie school FunG. Tie preteuse TIA; Il il mere e1.
r. q ore security for another Is not according
tie fact l. is the exchange of one security for an
otel With The scdi'oLai pledge upon the part OF the
S:srs 70 maze ~ al deficiencies IL the latter An ia
d,iCusl sy se the psper Of third ps1y for what /,
/. rriL i the market sd il done wiiaou, recourse,
II il hut sse bst, he guarantee the psper t.
VITO s6yscces 1Dey upon H. II l. loso bOrro Eug
in law II the Constitution can De evoded in
tbs VS., lAe soc ul1J buIIDw Tie tQtIe NtLo
Furd tsusft riiI par-sl securities no securities in
e,cLnge, orly pe6gng i'-eE FOR their payment al
msiariiy. not even becoming liable for the pronpy
psyueni G the yesrly cra-ns Interest. rais would
maze The Constitutional re,tl CtiOn dead Litter.
There sIe other objections 10 this resolution, grow
ing oct O. ny views OF tue gene o. policy -ith -hich
TIE SCI col Fund and the State finances should be ad
m;r;s,eIed.
The form er desire shall De kept as a secure and
rrmsrent I'M not to be il erered win BY ressOo Of
met in ~
Sete Let be precedent &c he established that '1e
Legs AZURE msy ook TO this fund o. resource 10 dh
cuiy SIC tAe end is sure SO toe. | should hold It
bad policy and UNSAFE precedent, for the Sata T.
id, re the boLcs Of any company or companies with
a = iew 10 raise money. These things genera y hsye
mall tegirmngs hut once begun, their tendency /. al
il Cre direction. The resolution 10 question il. IN my
iu gment unconstitutional, unws snd irexqed ent.
The Legislature adjourned until Saturday morcing
a, o oclotk wien upon reassembing,
M Riggs called up this message of the Governor,
and it was sid upon the table BY vote Of II Demo
cfs's to Opposition.
Mr. Alien OPP introduced bill to raise State tax
Of so Geo. He said be thought It was best to meet
this ueston of the State debt at once, aud settle It ID
ultimate manner, ard lot go borrowing securite,
fen the School furd.
Mr. Rafferty, DEM moved to lay the bill on the
table.
Agreed to by party vote of II Democrats to 0p
pcsitr 4.
Mr.. Cobb Dem }, from the Judiciary Committee,
reported the following resolution:
JOINT Resolution in relation 10 The dsD0sal Of Sscurl
hes N the hands If The STATE Treasurer.
Re,olred by the Senate and General Assembly Of the
State Thai the state Treasurer b. sud here
by authorized sell any time previous TO the meeting Of
session Of The Le..a'u-e the following bonds and
oher in bis bands belonging TO the State viz
Three bords Jo1t Companies aud bonds aui
gage amounting to &i0 snd two bonds sid mortgages
the of $500 IS and other securities
uay hereafter receive the highest market value when
may deem necessary 20 DO htst eiyiog to the
II the School Fond the refusal Of the purchase and
aoIy the proceeds thereof TO the of
tio b The snd tho ndebedues, Of br state
Mr. Alien moved 10 add provisO that the Cover
nor assent be fist given to such SALE Lost, to ii.
Dir Rafferty, moved TO lay on tn table, which was
agreed TO, II to g.
Tie Joint resolutions were passed, II g.
Nj. Chef wood offered rerolut on to appoint con-
d aft hill TO relieve tie state from IL pres
emf tTbarrsssmenis without distributing eho b,hOOi
Fsnd. Laid on toe table
10 the Assembly this resolution was adopted by
vote " 81 to l., and the final adjounmen; then took
place.