Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1858-11-24

:, n. MeDphis and Little Rock Railroad
Company, but have By the adoption Of the
r.port Of the committee, nov under review
REQUIRED TIE Mayer Of our city to provide
for it's payment one month in advance OF the
maturity Of each seni-snnuai insssiment out
Of the city treasury, regardless Of WHISTLER the
amount has been received from the rents Of the
|Nsyr Yard or Dot. This action Of the City
Council makes its discretion the supreme law
Of the city. and il the principle Of diseretiona-
~ coDstruetion embodied in The report Of ihs
committee and sanctioned by the bosrd OF
Aldermen. is to have the authority of precedent
hereafter. there is no limit to The discretion Of
N. CITY Camel. Whatever the msmbers Of
| RI. Board Of Aldermen may regard az condu-
Give 10 the interest Of the city they may enact
iB,o a law which shall bind their constituents
and their successors for all future time Ihey
nav. under p~retsnes of prOnOting the welfare
~ the CITY now and hereafter, plunge II into
debt 40 as to bankrupt it beyond redemption,
sxeept by the plumber Of every man who may
own real estate In the corporation. II such an
idea is to prevail and bseOns our rule Of action,
we may at once as well throw away our city
charter and ordinances and proclaim that FOL
the future each member Of the Council is to %
governed only By his own conviction OF rignt
whether such conviction be in accordance WAX
The city charter, or will lead to the vioiatioi
Of all its most essential provisions. Inc NE
tory of the world is replete with instruction
! and warning on the danger Of trusting to 10
! aiser.tion Of legislative assemblies In the exsr
!, cis. 81 mower and The enactment Of laws 81
J much 80, that in our own country, more Partie
ulsrlv il has been found necessary to throw
around them all the restraints which the wis
d dom and ingenuity Of man can suggest. Nj
E. F. smith in his learned and able eommenta
riss on statutory and constitutional law, ha
7 laid down the true doctrine on this subject
k whether we regard it in the light Of history
= as a priaciple. He says:
E aOf all kind and degrees Of authority wbic
a man exercises over man, that Of legislation :
a. the most august and supreme. A power {
, legislation that is the authority OF enaetln
> not only temporary and occasional ordnance
but durable and general laws, is In the hand
Of 4 single Derson-an alarming excess OF DC
minion; hence, 10 almost all modern govern
msnts the sovereign power is divided anon
different and coordinate departments OF gov
eminent"
i The experience of mankind fully proves thu
Is assemblies of men are capable Of as wick'
le and despotie exercise Of authority as is to
ls found in the edicts Of single individuals, and
will always be SO as long as man remains O.
ID gained as he now is, with bis present passion
feelings and prejudices. From these well e.
if tablished facts results the necessity Of bindir
d down those who are i~ntTusted with the exeTcl
= Of authority to the exercise of only suckfigh
and powers IS are absolutely necessary to pr
he mote the welfare and happiness Of cOmmu1
ties; and leaving to each individual the rig
ls and duty to pursue bis own interest with
much freedom as is G. compatible with public $
u curity.
rs If our City Council had set apar. the rev
as nss Of the Navy Yard rents aud taxes for {
IN /" use and benefit" Of the city instead of a
a. propriating It to the payment Of the intsrs
Of on the Memphis aad Little Rock Rsilro
D. Company's bonds, we might with il, in adj
IL ton 10 tue assistance which We could deri
Of from other sources, establish water wori
be build a good Court House for the city, aud re
be der all the assistance to our common seho'
which their importance demands But und
f. the action Of our Board Of Aldermen the
on great interests are being neglected, and
money whicb should be applied to them is o
e abroad to pay interest on a debt which pro-
tie isss no return, at least to the present genei
An ton, as the only consideration We receive
-er the assumption and payment Of the debt a
Z interest is the stock Of the Company or {
It's Company's bonds at thirty years, neither
" which, we presume, if placed in market, wO'
bring more than ten cents on the dollar.
d, ( n a