New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1865-05-22

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holders of the Manhattan Gas Company, and the a,gu
nent used in favor OF this legislation is the alleged IN
adequatsness Of the compensation consequent upon the
enhanced values OF material ara labor II this
declaration was justified by the facts. should
4 be az reluctant u admit its validity as in the
parallel case presented by the Plank Road Com
panes Of the State the horse railroad companies OF ihe
Counties OF ALBANY Rensselaer, and Erie, and by the
New York Central Railroad Company The general
reesons having reference to tine and circumstances
which led to withhold my signature from the biis
prov ding for the relief Of these several corporations
are mainly applicable this measure and prevent my
approval thereof 1t is possible, even applied TO TINS
case they would have still creator force for the addi
tiona burden which would he authorized ny tins act
would fall upon many thousands. all Of whom have been
subj eced 10 the enhanced costs. many OF whom
have made the same sacrhces TO the necessities OF the
dav and cannot well afford to pay the prices now
cl arged and must labor many weary hours by artihca
light to gain subsistence This latter class OF per
constitutes, suppose, considerable portion o.
the customers Of the Manhattan Gas Company, ana
that corporation obliged. through causes which
have alike affected almost every interest during the past
four years supply light 10 them at the cost OF produc
tion Tor short period II would not be greater hard
ship than many Of the pursuits Of industry and the in
vesmens OF capital have endured and which have not
obtained legislative relief Is not TINS plea OF non,re
muDeratiOn applicable to its condition for short period
onys bile this bill has been before me for consdera
ton the price Of one hundred and eighty dollars per
share has been offered for the STOCK OF TINS COMPANY
according to the repOr. the Stock Exchange In the
City Of New. York company which can oman
premium Of eighty per cent on the par Vhne OF 'hef
stock must have bad gratifying past financial history
prospective prosperity even under the restrictions
imposed by the Legislature ofls55 cannot therefore
to give my sanction 10 an act to increase the
pecunary welfare OF an organization whose Prosper!
Is thus substantially affirmed. and which so largely AT
ecs the Of population IN ono o. the neccssafies as
well as comforts Of life.
KNICKERBoCKER GAS COMPANY.
The "Act TO incorporate the knickerbooker Gas
Company in the City of New York. 10 subject among
others 10 the objections which have entertained
against many bills of a similar character and does not
iaNa al he
n corporation DO obtained undo: the general law
There other and prominent objects to be found IN
the several provisions Of the bill and especially in the
fact that the Of using the streets of The city as
well the streets which shall be used Is len entirely 10
the discretion Of the Company thus evacing the super
vision OF the municipal authorties and permitting the
Company compete with others foy the custom OF the
great thoroughiares without being burdened win tbc
necessities OF supplying the sparsey settled portions OF
the city.
GENERAL LEGALIzIEG ACT.
also withhold nv assent from the " Act to legalze
and confirm any acts proceedings heretofore passed
or adopted By any county. city or town In the state
relative to raising paying bountes and to confer ad
ditional powers on Boards Of Superv.5Ors The Prov
sons of the bill broad and sweeping, and the pubic
interests affects of the greatest magnitude.
assumes TO egalize ratify and confirm every act,
resolution and proceeding at any annual or specafoWn
meeting held prior 20 the lth OF February last IN rea
ton to pa ing bountes raising money To pay volun
teers drafted men. substitutes persons furnishing
substitutes to defrGy the expenses OF raising vou
teers. 1t proposes also 10 legake. without discrniia
meeting prior 20 that date II any board OF town Oicer
Of the Common Council Of any City or the Board OF
Supervisors o any county relative 70 either OF those
objects or the payment OF communication money the su
ing OF bonds other obligations or the eving OF taxes
for any OF these purposes and a aos of county eaur
in issuing bonds or making payments for similar
objects.
IL declares not only that the moneys raised and the
bonds actually issued bat also the bonds aHfhorsd TO
be issued for these purposes are legal debts aud charges
against the respective towns cities and countless and
that all
with interest they become due. shall BE- levied and
collected according 10 the directions Of the resolutions
thus eeali1ed from the taxable property OF tie Towns
cities aud counties in which such MONEYS may have
been rase otherwise than by tax but these provisions
are not to 30 construed as confirming acts tated By
official fraud fIlsehOOd nor Affecting pending suits
authorizing parties furnishing substitutes to col
ect more than they paid nor legalng bonds Issued
III violation VI the volunteer bounty acts OF e' except
30 far as they have been appropriated to come OF tie
purposes above enumerated The subsequent sections
OF he bill embody provisions unohjectionao IN them
selves but furnishing Hdequnte remedy or relief 10
tex payers In respect 10 suoh charges a. have been i'm
posed upon them in violation Of law aud which the 4
irst section Of the bill is designed TO egaze aud con
hrm
The practical effect Of the bin is to charge upon the
taxable property Of each locality IN the State. every
thing having the semhlanee Of Official sanction as
debt for Of the purposes specified though Incurred
only without authority but IN open violation Of law
The exception Of Ia which direct fraud may be
hroug, home by proof 10 the official actors Is OF tto
practical imp0rtsnce-as responsibility for corrupt
practices connected with the bounty frauds would, 4 ~
presumed be evaded W the employ ment Of oter than
official agencies. The eject OF the bill would he 70 de-
feat the usual presumption Of fraud from express /
violation Of law. and the cases must there I
fore be- rare which could he biongm Win
in the exception. The passage Oi the voun.
Cer bounty acs oi 1866 einently appropriate ava
Just view Of the peculiar circumstances under Which
the local authorities were compelled 20 hc' 20 meeting
tie demands of the General Government The press
ing oxigcDcics Of pubic war jusuhed them IN Their
own ne well the public judgment IN o,ercsing pow
ers with which they were not vested by law FOR the
a.. hat ie them
rot been foresoen ana provided for They bad rght
10 assume that their action III good uth ana IN INIT
ter Of imperative public necessity would be confirmed
by the authority of law This expectation vas not dis
appointed. - - $500, a,
legislature was not unmindfu Of tho general financial
nocy of the state aud the peril o. the public inter
este Of committing 10 subordinate official agencies the
power of contracting debts without limitation or re-
siraint and they accordingly inserted N The principal
art ON this subject guarded and well considered pro
vision comforting ample powers on The town ana county
authorities D. borrow money and levy taxes Tor pun
poses incident 10 the war, but at Tie same TINE 20
ectur the lax payers against official mproy dence and
nconsderaie action by authorizing these powers 70 be
eTerciscd In the OF counties only ~ meetings Inc
Board Of Supervisors "duy caiiea ana con'ohe- shu
by expressly prohibiting the raisDg OF money On Tue
credit of any town or imposing leyy on Its .aAh-
bic property except upon yot, OF majority " the
electors of snch town present ana voting AT annoa
town meeting nj meeting called Tor that purpose
IN accordance with the Revised Statztes when taxes
have gnce been levied or money raised IN accordance
with these provisions theie ~ holht W ca, 10 ,'t"
la,ye confirmation But II is believed that ~ direct
violation Of these provisions and IN numerous cases
local officers have assumed 10 raise money snd contract
debts on the credit of and counties paying little
regard either 10 the rights and interests OF the tax pay
ers the amounts required 10 meet existing necessities
ar the explicit requirements Of the law. IL ~
not the policy Of The State 10 encourage ia1Hy
In the discharge OF public trusts. or indifference
10 the limitations Of official authority. III Is qdhe
nrobabe indeed | am well convinced that particular
cases have arisen IN various localities, IN which peeu
liar crcums stances may make II appropriate ana cluia