The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-01-25
THE VESTED RIGHTS OF THE LOT
Terry,

There has been good deal OF loose talk o
late about the vested rights of the Lottery
Company. This cry OF "vested rights" Is oil
old one, always raised whenever the people
demand the repeal Of any Ubiquitous law Of
fraudulent institution. Those who use this
argument seem to believe that the law Il
created to act as protector Of iniquity ant
fraud against the people. That "vestet
rights does not mean what these persons
pretend is evident enough to those who viii
turn to the basis OF our Jurisprudence, the
Civil Code, which explains very fully how the
charters Of existing corporations may be re.
pealed.
Article 447 of that book Is as follows
A CORPORATION legally established may be dis
/ By an act of the Legislature. IL they deem It
provided. that when the art of ineorp ration IN :
poris.a contract on the faith of which indivi =
property, It cannot be repea ed without provid-
ing for the reimb irs ment of the advap ces
ma e; or making full indemnity to sucn indi-
viduals.
q. BY the forfeiture OF their charter. when
the corporation abuses It's privileges or efu ses
to a complish the con ditiOns on which such
poration becomes extinct by the effect Of tn g
violation of The conditions OF the act OF In cor
poTatiOn.
Both sections of this article authorize and
empower the Legislature to repeal the char
ter Of the Lottery Company. It has grossly
violated Its charter, as we have often shown,
In hundred different ways, and that charter,
therefore, should be forfeited.
But even when corporation has not VIC
lated Its charter, the latter may and should
be forfeited when the Legislature deems 1t
necessary or convenient to the public inter-
est" Is there any one who denies that the
repeal OF the Lottery Company's charter is
for the public good Do the secret friends
and allies Of the Lottery dare deny this 2 Do
they not confess it when they shrug their
shoulders about the public good and exclaim,
ooh, but 1t has vested rights" Granted it
has vested rights, article 447 OF the Civil Code
authorizes the Legislature to wipe out It's
charter and pay 1t for the value OF the prop
erty 1t has put into It's business. Repeal the
Lottery's charter and let 1t sue the State for
this sum, due 1t.
1t cannot claim that $4,000 year; that
was but another form of taxes. All that is
needed by the Lottery to carry on Its busi-
ness are two glass wheels and some
printed tickets. The repeal OF the Lottery
charter will damage it just the value of these
articles-say $500. The Legislature can rid
Louisiana OF the Lottery Company and Its
vested rights at the small cost Of $500 to the
State, and we have no doubt but that this in
significant sum would be gladly contributed
by grateful people, We refer the Senate to
the way In which the Civil Code deals with
ypctad riuhfc Tof II ha h,,% l,<,
feeble arguments Of the Lottery's friends
Wipe out the Lottery's charter; the people OF
Louisiana will gladly pay all damages. It
would be strange, indeed, If the act OF a
former Legislature an act nominally for
police purposes-could fix on the people OF
Louisiana for whole generation this foul
iniquity, without any hope or possibility of
relief.