The Van Buren press., 1874-03-31
NO. 4s

meet again, is no more q hnsl sdjossa-
ment or expiration Of the session than 10
an adjournment from day to day, or for
any shorter or longer period.
After the " expiration Of the session
the General Assembly cannot convene
again by any action or resolution Of their
own. There are only tive kinds Of sss-
sions Of the General Assembly known to
our constitution: one is the regular bien-
nial session, which meets at time 6xed
by the constitution, and 10 the same ses-
sion--no matter how many adjournments
take place-unlil it is finally adjourned;
and the other is special session con.
vened by the Governor on extraordinary
occasions.
The result 10 that this act, there being
no provision in the act for ito taking Of.
feet at an earlier date, did not take effect
until ninety days from the expiration Of
the session at which 1t was passed, and
the session not expiring until the'tsnths
day OF April. 1869. II did not 60 iato II
feet for any purpose until ninety days A.
ter that date. The election provided for
IN the act for taking the sense Of the pee
pie on the question Of loaning the credit
Of the State, as required by the constitu
iion, took place on the Tuesday succeed
ing the first Monday in November, 1868,
SO that the election and oil things elss
had and done under the supposed sane
ton Of this act were had and done eight
months before the act could have become
law
No matter when an act is passed, il can
only have the force oflaw from and after
the time it takes eject. and before that
time 1t is as though it had never been
passed. (Riee vs. Ruddlman, 10 Mich,
1876; Pierce vs.. Hopkins, l3 Mich, 3l8;
Charles vs.. Lambcrson, l Clark, (IowaG
A2
Therefore. the people Of the State,
never having consented to loan the ered
it of the State at any election held in pur.
suance Of law for that purpose. ! have
no constitutional or legal authority TO
issue the bonds applied for.
Satisfactory rcasons might be given
Why no further issue of bonds could be
made, sven supposing the act to be law.
to advert to them.
In conclusion 1t is proper to say, In
behalf Of the people OF the State, that
though they are greatly impoverished BY
the results Of the war, and sorsly bur-
deued with taxation, 1t 10 their purpose
to pay oil their legal obligations. No
debt legally incurred by the State will be
rcpudisted by them, but do not feel au.
thorized to give an assurance that they
will pay bonds issued without the sane
ton of law. and for which the State has
received little or no consideration.
This is not reputation.
Indeed, In view of the improper appli.
cation and corrupting use made OF many
Of the bonds issued, it is not too much
to say that the State would have bad
more miles of railroad than she now has,
and been in every respect in better con.
dition than she now 10, II single bond
had never been issued. 1t 10 notable
fact that the longest line Of railroad in
the State, traversing the whole State from
north to south through ito center and
giving the people direct communication
by rail with the great commercial cities
Of the north and Of the gulf, has been
completed without State aid bonds. aud,
in fact, declined them because Of their
little value and doubtful validity.
The impolicy Of q free loan ofthe pub.
lie credit to such corporations 10 thus
strikingly siown in the experience Of our
own State. Isfosters corruption and ex-
travaganee and the construction Of the
roads 10 forgotten In struggle by the
managers Of these corporations to secure
the public money for private and selfish
ends rather than for the public benefit.
With rare exceptions. this 10 the expe.
rienee Of the whole country.
Though the amount e tho bonds %
large and the loss TO the holders would
seem to be serious, II must not bs for.
gotten that, ewing to the doubtful w.
lidity, and other considerations, they
have always been at q very heavy dis.
couat. and that their present value 10 the
market is nominal.
But IL it should transpire that these
bonds have any legal validity. they will
be paid, although the people have 70
csived little consideration for them, and
the present helders obtained them at
merely nominal prices on . speculative
venture. On the other hand, II, 40 sup
pose will certainly be the case, 1t shall b
found that they were illegally issued, and
the State is not bound for their redemp.
tion it is a consoling reflection to know
that no one will suffer any serious loss
thereby.
should your company dissent from the
views herein expressed, am willing, ~
fer a. have the power to do 30, to waive
all matters OF form and submit the ques.
,ions involved to the consideration OF
the judicial department ofthe State gov.
ernmsnt, to whom the final decision Of
the legal questions involved rightfully
belongs, and TO whose judgment upon
the law OF the case ! will chcerfully con.
form my official aation.
lam, very respectfully,
ELISHA BAxrER.