The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1874-01-21
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State shall specify the purpose for which
IL wanted, and It shall be Iised ior thSi
purpose solely; that tho STATE shall not las as
sumo all or any part OF The debt Of any
municipality, sunless such debt shall have
been contracted to enable me State 70 re-
pei invasion, suppress domestic insurrec-
ton, defend Itself In time Of war, or TO as.
sist the State In the discharge Of any por.
ton Of its present indebtedness that the
State sinking fund shall be maintained
sufficient 10 pay interest On the State debt
and at least $95O, 900 Of principal annually;
that all the money over the necessary Re.
servo shall be used IN paying the debt
and the sinking iund shall Sot be invested
In or loaned upon anything bot bonds OF
the State or Of the United States: that
monthly statements about the reserve
shall be published; and that making any
profit out Of State funds, Or using them In
an unauthorized way, shall be punishable
as q mlsdemeanor. The following impor.
tant sections Of this article we give entire !.
"sEc. 9. The credit ,of the Common
wealth shall not be pledged or loaned to
any individual, Company, corporation, or
association; nor shall the Commonwealth
become q Joint owner or stockholder In
any company, ASSOCIATION, or corporation.
asEo. 2. The general Assembly shall
not authorize any county, city, borough,
township, or incorporated district 10 Be-
come stockholdet in any company, as
sociatlon, or corporation, Or 10 obtain or
appropriate money for or to loan It's credit
to any corporation, ASSOCIATION, insiitu-
ton, or individual.
"SRc. 8. The debt Of any county, city.
borough, township, school district, or
other municipality or Incorporated dis.
trict, except as herein provided, shall
never exceed seven per centum upon
assessed value Of the taxable property
therein, nor shall any Municipality or dis.
trict incur any new debt or increase It's
Indebtedness 70 an amount exceeding two
per centum upon such asseSsedvaluation Of
property without the assent of the elec.
tors thereof, at a public election, in such
manner as shall Be provided by law; but
any city, the debt Of which now exceeds
seven per centum Of such assessed valua.
ton, may be authorized by law to in
crease the same three per centum lin the
aggregate at any one time) upon such
valuation.
"sEc. 10. Any county, township, school
district, or other muntcipslity incurripg
any Indebtedness shall, at or before The
time Of 50 doing, provide for the collec.
ton OF an annual tax sufficient 10 pay the
interest and also the PRINCIPAL thereof
within thirty Years." "F
;. Article seventeen relates to railroads.
Il provides that all RAILROADS and canals
shall be public highways, and all compa.
nies common. carriers; that any company
organized for the purpose may construct
and operate o road between any two
points In the State, and connect at the
State line with other roads; that every
company may intersect with any othef,
and receive and transfer business without
discrimination. Every company shall
maintain a transfer Office, with lis books
open to inspection by stockholders or
creditors; the right to transportation Is
declared uniform and EQUAL 70 ali; Trans.
portation charges shall not exceed the
charges for carrying the same class OF per.
sons or property in the same direction to
q more distant station, but excursion and
commutaton tickets are allowed. No
company owning, or leasing, or managing
a railroad or canal shall consolidate with,
or in any way Control any competing or
parallel line, nor shall any officer act as
an officer In such line; the question Of the
parallelism or Competition 70 be decided
BY Jury. no officer or employe shall be
interested in furnishing msterial or SUP.
plies 10 the road, or In the business Of
transportation over i; no discrimination
In charges or mohVe'p Power shall be made;
no free passes shsll be granted, nor shall
passes be granted Of a discount except 10
officers and employee.
No debt shall be CONTRACTED and no lia-l
bility incurred by any municipal commits.
sion except according 10 an appropriation
previously made, and every city shall
create a sinking fund for the payment OF
It's debt All Corporate charters now az
isting, and not already used in organizs-
tion, are made VOID. All existing cor
porations can have their charters altered,
or any law passed for their benefit, only
on condition Of becoming subject 10 the
new constitution. No corporation shall
do any business not Expressly authorized
In It's charter, or take or hold any real es.
tate except what Is necessary for its
legitimate business. mo corporation
shall issue stocks or bonds except for
money, labor done, or money for property
actually received; and all fictitious in
crease OF stock or indebtedness shall be
void; the stock and indebtedness Of cor-
porations shall not be increased except in
pursuance of general law, nor without the
consent OF the persons holding the larger
amount in value Of the stock first obtained
at meeting to be held after sixty days
notice given In pursuance oflaw.n
The above Is . sketch Of the most note
worthy provisions OF The new Constitution
which took effect on Thursday Of this |
week. All attempts 10 improve the or
ganic law OF both Slate and nation are Of
great interest, and these provisions should |
receive attention. One Of them, which Is |
Of national Importance, Is that which
simply makes the State election come on |
the same day Of the year with the Pfesi-
dental election. This puts an end to the
corrupt efforts regularly made, in each
Presidential year, to"carry Pennsylvania"
In October. The change should be fol-
lowed,by other states, and i ii proves the
forerunner OF the abolition ot the electoral |
system altogether-,about the most clumsy
and mischievous provision In the Federal |
Constitution - Pennsylvania will have
done almost as much to improve politics as
she has done heretofore to corrupt them.