Port Tobacco times, and Charles County advertiser. (Port Tobacco, Md.) 1845-1898, 1881-10-21


No one can complain 3f The paFTosr Of shsth
anv part OF this aebJ Vas created. 1b~ irqssrr
remains u h. TO adequate provision rs q. L.
10 pa of all the Indebtedness created bel
1927 and ssg. a. il injured
on september 80, i,t8--
The total debt o The STATE vas... So sEs.ass a.
The total auouai OF the srcai;
OF the Sinking fond vas. sE< So 6
ON September 30, lS6-.--
The total debt o; The Sla;, sas - <-6G95 -
The total amount 10 the credit
OF the sinking fund Was. E4a 5sG =
OF this amount s. 4g5 Ice - a.. invested
in the bonds and certificates Ct the STATE 81
the act Of 1864. chapter SO. the bonds and
certificates Of the State, relrzss ursng ;his 50.
495, loo 50, were directed 10 br cancelled The
measure was passed by a House uf Delegates
almost exclusively Republican. on February =
lsG4, by a vote OF - 10 : and raised bv
Senate. almost exclusively Republican IT
March :, 1854, by a vote Of l. 10 The eiTe,t
of this act was 10 leave in the sinksng fuai on
September 30th, l864, only $3.50. 81 a.
The act, cutting down the sinking fsnI. So.
passed upon the express recommendation o.
Gov. Bradford. IL completely modified thu
provisions Of all prior laws creating sinking
funds for the pa meni Of the debts of he STATE
On September 20, ISL
The total debt of the State was ST., 40. lis -
Total amount 10 the credit Of
sinking fund as modified. l,s's 80 2
OF the amount to the credit OF the sinking
fund Sl54 $50 was invested in Baltimore cit,
sloel and the remaining 81, 703, Isl % IN State
stock
By the act Of 1872, chapter as which was
passed wnh oHig::ons disscnting. rof, "a n, Ssn,
ale and By unanimous ro;s IA IL, HogsS Of Dei-
egates and approved by Gov. White the 81,
| 703, 49, %, belonging TO the sinking fund was
cancelled
| By the act OF 1872, chapter $50. which wa.
passed by the unanimous vote OF the House OF
! Delegates and received every vote hut one it,
| the Senate the Baltimore city stock. 10 the a.
mount of Sl54, $50, standing 10 the edit o.
! the siuking fund, and other stock belonging to
the State were directed to be sold
The action Of the General Assembly in 1864
and 1872 was taken by partie. holding opPo-
site opinions Ii was taken on both occasions
with complete undnimity. 1t certainly was
approved by The people of the State, for no ex-
preston Of contrary opinion has been heard un-
| Ill now. 1t is somew hat late 10 fad au!t with
either proceeding. II is right TO say, however
that the General Assembly of 1864 did not vio-
| late any provision OF the constitution OF 1851
which was in force when il dealt in this man
ner with the sinking fusd, and that The G"ner-
al Assembly of 1873 did not violate any pro-
vision of the constitution Of S67 Hhrn il dealt
| in like manner with the same fund
The sinking fund provided for 10y the act Of
| 1868. chapter 235, though that act was passed
when the constitution of SCI was in force, was
as subject to legislative control in 1917 as The
| sinking fund created under the eight-million-
loan bill in 1886 was to Legislative control
| in 1864
| The defence loans ofl864 ana 1868 were
created to paw debts contracted for the public
defense Debts contracted for this
purpose were not within the limiia
ton of article 3, section %, of the
constitution OF ls5l, nor ofartcle 3, section 49,
of the constitution of 86i, nor ofariiclr ;, sec
ton 34 of the constitution of 1867: aud were
not required to be provided for in the manner
pointed out by article 3, section "a of the con-
sttuton of 1861
The acts of 1864, chapter Is, 1864, chapter
246, 1864 chapter 1913, 1865, chapter 40. and
1867, chapter I69, passed for the purpose OF
obtaining recruits for the armed service Of the
United States during the civil war entitled those
" no had thus enlisted part quotas o. the State
to specified sums of money. Such claims were
PAYABLE out of the general moneys Of the State
in the treasury.
To meet the demands thus arising the Genera
Assembly passe the laws of 1864, chapter 5,
and S68, chapter 235
Under this legislature the money account Of
the State stood as I'll oNs:
The State paid from 1864 10
September 80 1880 on ac-
COT n of the claims Of such
enlisted soldiers So U5S. 1888 l6
For int rest 90 its 10 ms uudcr
acts Of 1864. 81 aper II,
and 1868, chapter 235...... 2,i43, ia IS
For commissions, &c, in ne
gotiatllg loans............... 20 4 5 g.