The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1858-03-10

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wealth hereafter become joint
owner or stockholder in any company, as
sociation or corporation," will be plainly
violated by the passage of this act.
That this violation of this provisions of
the Constitution will be worked cannot be
doubted for moment, particularly in that
portion of the bill which makes the State
joint owner or party in the seven millions of
bonds provided to be issued, and in SO far
also as 1.-THE event of a sale Of the road,
the State being joint owner in the bonds
and mortgage, will be compelled, in order
that she may save herself the amount due to
her on the same, TO become joint purcha.
ser at the sale, or otherwise 10 stand by and
see her rights the sport and play of specu-
lators owning the other portion of said bonds
and mortgage; and, however directly or in
directly the result may be arrived at, the ef-
feet is the same.
1t would seem that the bill has hcen
drawn with view TO evade this Constitu-
tional provision, provision that has been
so recently recorded by the people for their
protection against Legislation of this kind,
that the ink used in recording it is hardly
dry, before this proposition is introduced in
to this House with its specious title and tor
torous provisions. The bill is entitled s An
Act TO provide for the sale of the State ca
nails" 1t would have been more appropri-
ately styled if it had been entitled can Act
for the Sunbury and Erie railroad company
to take the St;ite canals" The character of
the bill is fifty typed by its specious title.
If, however, the bill be not unconstitutional,
and it should be deemed the policy of the
State 10 dispose Of her canals, a careful and
due regard TO her interests, and those of
people oppressed with large and burthen.
some debt incurred in their construction,
would dictate that a sale when made should
be for the purpose of giving relief from that
debt and the taxation consequent upon the
payment OF the iHterest thereon, and that
they should not, as is provided by this bill,
be given 10 corporation at nominal price,
not one-half their real value, and without
any adequate security for the payment of
the sum therein named. 1t must be evident
TO every man who knows anything of the
value OF the canals now owned by the State,
that they are worth more than twice the
sum fixed as the price for them in this bill ;
and if they were to-day thrown into market,
open 10 affair competition, with a reasonable
time for payment, there can be no doubt
that over seven millions of dollars could be
realized from their sale.
In order more clearly to exhibit this fact,
and the basis upon which it is founded, a
detailed statement of the value of each
particular line is herewith submitted
| Delaware Division, $4,000, 600
Lower North Branch and Sus.
quehanna, 5000 900
Upper North Branch, 1000, 900
West Branch, 900
Total, S7,75O, 900
There can be no doubt but that the above
prices can be realized for the different lines
of the canals, with sufficient time given for
the payment, and at rate OF interest not
exceeding five per cent. Why, therefore,
the said canals should be sold to the Sun.
bury and Erie railroad at less than one half
their real value, and without adequate Sc.
curity for the payment of the purchase mon.
ey, and why the sale, if made, should not be
thrown open TO the fullest competition, in
order that the highest possible price may be
obtained therefor, seems entirely incompre-
hensible upon any hypothesis than that the
sale provided for in this bill is intended for
the benefit of the Sunbury and Erie railroad
company, and not for the benefit of the
State, or as relief to its over-taxed people.
And finally, that bill of this kind, i'm
portance and character, should so safely
find its way through an important committee
of this House-a committee, having in
charge the revenues, and disbursements of
the Commonwealth-may excite surprise
upon the part of the people of this Com
monwealth, who are so deeply interested in
the passage of the bill, and whose interests
will be so disastrously affected, in the House
should so far forget tho interests of the
State as to allow the passage of the bill.
That the responsibility of reporting favor.
able such bill may not rest upon the mi
nority of your committee, fell impelled 10
make this dissenting report.
Which is most respectfully submitted.
(Signed) S. G. TURNER.