The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1861-02-23
aRATRa oRsAnunpmraruirIl.z-

Sec. 5. The Legislature shall provide
each gear, for raising revenue sufficient e
} defray the current expenses of the State.
Il Sec. 4. No tax shall Be levied except ID
4 pursuance of . law, which shall distinctly
state the object Of the same to which OBJ
} ject only such tax shall be applied.
Sec. s. For the purpose Of defrsying sx"
traordinsry expenses and making public i'm.
provesneuts. the State may contract public
debts; but such debts shall never, in the
) aggregate, exceed one million dollars, EXCEPT
as hereinafter provided. Every such debt
; shall be authorized by law, for some purposS
! specified therein. and the vote of . majority
of all the members elected TO each house. to
be taken by the yeas and nays. shall be nee.
essary to the passage of such law; and every
T Isuch law shall provide for levyiug an annual
tax sufficient to pay the annual interest Of
such debt. and the, principal thereof. whsn,
it shall become due. aud shall specifically
} appropriate the proceeds Of such taxes TO che
payment OF such principal end interest; and
such appropriation shall not be rePsaled nor
the taxes postponed or diminished. until the
interest and principal Of such debt shall have,
, been wholly paid.
Sec. s. No debt shall be contracted BY the
State. except as herein provided. unless the
proposed law for creating such debt shall
, first be submitted to . direct vote of the
, electors of the State at sOme general election;
/ and if such proposed law shall be 'atihed
by majority of all the votes cast At such
n general election, then it shall bA the duty OF
/ the Legislature next after such election to
enact such law and create such debt. subject
to all the provisions and restrictions pro-
!. vided in the preceding sections of this Ar.
ticie. -r-.s s= e ..
!. Sec. z. The State may borrow money u
}. repel invasion, suppress insurrection. or
!. defend the State in time of war; but the
q money thus raised shall b. applied exciu.
sively to the ject for which the debt was
e authorized, or to the repaymen OF the debt
v thereby created. ...-..
. . Sec. 8. The State shall never be party
Y in carrying on any works Of internal inn
IF provement. -......-. ..
ARTICLE xII.-coRPoRATIoEs.
81. The Legislature shall pass no special
q act comforting corporate powers. Corpora
= tons may be created under general laws;
e but all such laws may be amended or re-
re pealNd. .. ..
E; Sc Dues from corporations shall be 90.
cured by individual liability Of tie stock
l. holders to an additional amount equal to the
u stock owned by each stockholder. and such
Is other means as shall be provided by law; but
such individual liabilities shall not apply 70
'r railroad corporations. nor corporations Tor
le religious or charitable purposes.
(. s 3. The title 10 ali property OF religious
Of col poraiions shall vest in trustees, whose
. election shall be by the members OF such
De corporations.
in s4. No right of way shall be appropri-
L. of
l. compensation therefor be- first made in mon
Ut ey, OF secured by deposit of money. to
So the owner, irrespective Of any benefit from
any improvement proposed by such corpo-
n. ration.
s s. Provision shall be made By general
L. law for the organization of cities. towns and
Iy villages and their power OF taxation. as
10 sessment. borrowing money. contracting
10 debts and loaning their credit. shall be 20
hs restricted as TO prevent the abuse OF such
le power.
de- &. The term corporations" as used IN
g. this article, shall include all associations
and joint stock companies having powers
or and privileges not possessed by individuals
az or partnerships; aud all corporations may
sue and be sued in their corporate name.
Id ARTICLE x1.1-BAHKs AND CURRENCY.
nd l. No bank shall be established. other
ut wise than under general banking law. rat
or s e. All banking laws shall require, %
e collateral security for the redemption of ths
circulating notes of any bank organized IN
es der their provisions, q deposit with che
ne Auditor of Stale, of the interest paying
ar bonds of the several States or of she United
u States, at the cash rates of the New York
stock exchange, TO an amount equal to the
rs amount of circulating notes which such
u bank shall be authorized TO issue, and cash
b. deposit in it's vaults of ten per cent. of such
amount of circulating notes and the Au'
dilor shall register and counier.ign no more
OF circulating bills Of any bank. than the each
ve value of such bonds when deposited. ~
~ 6 8. Whenever the bonds pledged ss col
it lateral security of any bank shall depreciate
in value, the Auditor of Stale shall require
st additional security, or curtsil the circulation
s. Of such bank. to such extent as Will continu'
g. the security unimPsirsd.
q s 4. All circulating notes shall % re-
ne deemable in the money Of the U itec STATES
r, Holders of such notes shall be entitled, Ia
r. case of the insolvency OF such banks: to
r. preference of payment over all other credit
TO oTs. r,,T,,
rs s S. The State shall not be stakeholder
be in any banking institution.
b. AL banks bnaH 49, 7
n Offices and officers for the issue and redemP.
ton of their circulation. At q convenient
place within the State. to be named on the
circulating notes issued by such bank.
81 No banking institution shall issue
circulating notes Of less denomination than
> FIVE dollars. D.. ..-.,.sy
g. No banking Law shall be ia force IN
3 iii The same shall have been submitted 70 .
! vote of the electors Of the Stass at some
! general election. snd approved by MAJOR
ity Of al the votes cast At such election
SO. Any banking law may be amended
or repealed. 80 =
ARTICLE xIv.-AAESDMEsTs.
81. Propositions for the amendfhent. OF
le this Constitution may be made by either
n branch of the Legislature; and if two,shIrds
l. of all the members elected TO each mouse
?. shall concur therein. such proposed amend
1t ments, together with 'be yeas ana nays
y shall be entered on the journal; and the Sec
d re,arv of State shall cause the same 90 Be
d published in At least one newspaper IA Issch