The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1867-01-28

House of the General Assembly 10 De g'eH
an axerv hill which "releases, discharges, OF
\ commutes" any claim or demand OF the 49,,
Ohssrye IN atsthe Constitution recognizes
,noe,hod. of disposing Of State interes'
=, many, indeed, as may be embrace. ~, ~
the meaning Of the terms release =
commute. ,,,on %. ,forbids
The next of these clauses see..oA - .aa
,h. re,ease of any loan thar nae oo' N' =.
nv the state to an Incorporated company. =
a in these words; &
.,.d company or institution to redeem the
nr,nclpal and pay the interest OF any loan
heretofore made, or which may hereafter be
made by the State to such company or institu.
lion, shall not be released
| The section forbids q release OF loans or
bonds but forbidding release Of bonds held
against railroad company does not forbid
the release Of shares in its capital stock. II
man devisee farm Black acre and farm WHITE
| acre 10 his SON. but forbids the alienation OF
Black. acre within twenty years, no lawyer
will pretend that the son is debarred from
alternating White-acre at pleasure. section
/ which forbids the release OF bonds DOES NO
| nro,ih;t the release Of stocks. II the language
CONVEYS any implication At all, II Is rather ~
implication that property other than oono'
| NAV be released The bill before the Legisia-
| ture does not propose release; that IS 70 say
does not propose to surrender loan 10 'he
debtor corporation. II proposes Trans
l fer that is to say, an assighmeht-oi 'ne
loan for valuable consideration TO newly
constituted general company, into which the
debtor corporation shall be merged.
The next Of these clauses, section u, pro-
| yides that the State "shall' adjust with
West Virginia the proportions OF the state
debt to be assumed by each and that ' Virginia
| "may," in conjunction with West Virginia,
| authorize a sale of all stocks, interests, and
property held by her in public works and in
situations. 1t is in these words:
"27. The General Assembly shall provide by
law for adjusting with the State of West Nir-
GINA the proportion OF the public debt OF Air-
| ginia proper TO be borne by the States Of Nir-
| ginia and West Virginia respectively and
NAV authorize, in conjunction nth The State ~
West Virqinid, the sale Of all lands and property
Of every description, including all stocks and
other interests owned and held by the State OF
Virginia in banks, ,norks Of internal Improve.
raent, and other companies at the time of the
formation of the State Of West Virginia"
The first clause of the section is mandatory,
and has been obeyed by the General Assem-
bIy; the latter clause is merely suggestive and
permissory and provides that the two States
",ooy'' conformity sell for the purpose Of liqui-
dating the public debt. But n permission to
DISPOSE of property in one mode does not take
away the right and power to dispose OF IL III
| other modes Prudential reasons counsel us
TO concert with West Virginia terms for the
| apportionment of the debt and for disposlng
of the property Of the State for its payment |;
and this twenty seventh section suggests ana
permits the sale of the property. But neither
| I'm its terms nor intendment does it interdict
Virginia from herself exercising the complete
rights and powers Of n sole proprietor over
this property In fact, the very next section,
| as we shall presently see, asserts this absolute
and exclusive proprietorship, and provides lot
n sale of property by the act of Virginia alone.
| The effort TO give 10 a clause merely permit
| ting one mode of performing an act the force OF
| a prohibition rs to all other modes is certainly
| novel
| The next and last of these provisions, sec
| ton 2S empowers the General Assembly OF
Virginia alone, without concert with west
Virginia, to direct the sale of the " stocks "
held by the Commonwealth in internal i'm
proyement companies, in which event the pro-
ceeds of sale are to be applied in liquidation OF
the public debt. 1t is in these words:
"2s The General Assembly may at any
time direct the sale Of the stocks held by the
Commonwealth in internal Improvement ana
other companies located within the limits OF
this Commonwealth but the proceeds " Suci
sale, if made before the payment OF the Pubhc
dcJt, shall be appropriated TO ne pay"iem
Merecf."
Collate this language with section %. One
of the sections, IS, refers to stocks, the other'
section 26, refers to loans or bonds. The one
declares that the State may sell stocks, ana IL
selling, shall apply the proceeds in payment OF
the debt The other forbids the release OF
bonds. 1t is very clear, therefore, that the
| intention of section IS was 10 apply only TO
| stocks; while that of section 20 was to apply
| only to loans or bonds. The bonds we are for
hidden to release. The stocks we may or may
| not sell: but if sold, the proceeds shall be APP
| piled in liquidation of the public debt.
| Speaking generally of the two clauses, it is
| to be observed that there are many ways OF
| disposing of property other than by release or
sale, and prohibition Of these two methods
does not tacitly embody prohibition of all
other methods on the contrary, the impiica-
| ton is the other way. If give my parole that
will not 60 TO Baltimore by way OF the Bay
or Aqua creek, the specification Of these par
| ticular routes, by which l shall not travel,
rather implies that may 60 by way of Cor
louisville or the Valley If l am prohibited
generally from going to Baltimore, that ends
the question. But if am prohibited from
| going there by two out of four routes, that
| virtually gives permission to 60 by the other
| two routes. II the Constitution had prohi-
bited the General Assembly from disposing OF
her bonds and stocks at all unless upon condi-
ton of applying the values obtained in direct
liquidation of the State debt, then the ques-
ton would have been closed. But 1t does Just
the reverse 1t only forbids the bonds from
being released and the stocks from being SoM;
but it expressly provides way by when
they NAV be otherwise disposed OF. section
81 which introduces this whole SUBJECT,
in reouiring n YEA and nay vote and Il con-
stitptioual majority in certain cases, uses
term. much broader than the words release
and sell for il expressly assumes that all claims
and demands of the State may, besides be-
inc ra,ea sed and sold, be " discharged and
:. commuted .; and it provides a mode by ,ohfch
re discharge and Communication may be Effected. 1t
loo yes the General Assembly at fun liberty,
acting In good faith, to dispose Of, commute,
nd discharge the States property, claims,
and demands as 1t may think best, provided ii
shall not release bonds, and provided 1t shall
not sell stocks without applying the proceeds
as directed. If the bills under consideration,
instead Of employing the word "transfer,"
! were 10 subs titute the term " commute they
would be In substance and in letter constitu-
tional, provided only the precaution be taken
| Of recording yea and nay vote, and Of insur-
| ing a constitutional majority.
The several sections of the Constitution
which have been thus reviewed may be con-
dsnsed into one, as follows: 1.-The General