Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1879-05-16

The new constitution of California, which
was voted upon and adopted 10y tn people
ON the 9Th inst, is a very extraordinary one,
to say the least, for 1t provided for more rad
ical changes in the conduct of State affairs
from the usual methods than were ever sug.
gestrd outside the cabals of French Comuuu-
lists or Irish F,niaus II is an instrument Ill
tended, apparently, to place capital at the
mercy of the demands of labor, and to arouse
and strengthen the prrjudices Of the laboring
classes against the capitalists who give them
employment. A special Telegram to the New
York Herald declares that it will compel the
great savings institutions Of the State to sue
cumb, As 1t will be impossible to pay interest
TO depostors rs heretofore, and the deposit
ors will withdraw their capital, which amounts
TO $40, 900, 900. One of the articles seems
especially aimed at the San Francisco stock
board for it provides that 'the Legislature
shall pass laws to regulate or prohibit the
buying and selling OF the capital stock Of cor
poratiOns IN any stock board stock exchange
or stock market under the control of any as
ISOLATION. All contracts for the sale of shares
of the capital stock of any corporation or l,-
soclatOn on margin or 10 be delivered at u
future day shall be void, aud any money paid
on such contracts may be recovered 10y the
party paying it by suit in any court of comfy
petent jurisdiction" -
Article H. which relates to corpoH
imposes some mercless penalties 5r"tionS'
tons It proyidea that all ana rest hni
while they hold stocL all debts contracted
ucnt domain sl,'krtN that the right Of emf
prevent the S'HH!h never be so abridged AS to
erty and CTl4ngislature from taking the prop
p franchises of incorporated compa-
hits,SAud subjecting them to public use the
same rs the property Of individuals, and the
exercise of the police power of the State shall
never be so abridged or construed as to per
| init corporations to conduct their business in
such IL manner as TO infringe the rights Of in
diyiduals or the general well being OF the
! State.
The question Of freight charges is very
tersely provided for. No railroad company
or any other common carrier shall combine
or make any contract with the owners OF any
vessel that leaves port or makes port in the
! State or with any common carrier by which
| combination or contract the earnings of one
doing the carrying are 10 be shared by the
| other not doing the carrying. And wherever
a railroad corporation shall for the purpose
of competing with any common carrier, low
er its rate for transportation of passengers or
! freight from one point to another, such re-
duced rates shall not be again raised or in
! creased from such standard without the con-
sent Of the governmental authority, in which
] olull bc Nthltu tue power 10 ItEulhlt lhiuA
aud freights special commission is to
have charge of all the railroads of the State,
! to regulate rates and prescribe the methods
of accounts, and violation of their rules will
subject every corporation to heavy penalties,
| That portion of the constitution which relates
to taxation embodies the most radical changes
in existing laws. 1t provides that land and
| the improvements thereon shall be separate
| ly assessed that cultivated and uncultiyated
land, of the same quality and similarly stu
! ated, shall be assessed at the same value, that
a mortgage deed of trust, contract or any
other obligation, by which debt is secured,
| shall, for the purposes of assessment aud tax
ation be deemed and treated as an interest in
the property affected thereby, and that every
contract hereafter made by which debtor is
obligated to pay any tax or assessment on
money loaned, or any mortgage, deed of
| trust or other lien shall, as to any interest
| specified herein, and as TO such tax or ASSESS
ment, be null and void.
In dealing with the Chinese question the
new constitution adopts the wild yagaries of
Denis Kearney. 1t provides that no corpora
ton now existing, or hereafter formed under
the laws Of the State, shall, after the adop-
ton of this constitution, employ, directly on
indirectly, in any capacity, any Chinese on
Monaghan The Legislature shall pass such
laws as may be necessary to enforce this pro-
vision. No Chinese shall be employed on
any State, county, municipal, or other public
work, except in punishment for crime. The