Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1889-03-15
NO. g..

legal opinion against that of my brother from
Cumberland, MIR. LIBBY who in years, in
rank Al the bar, in long experience aud legal
: culture, in breadth of practice and learning.
| Know far outrsnks me, Vet have the te-
mcrity when he challenges any LAWYER TO
risc on this floor and say that under that con-
siiuiionsl amendment the STATE has no power
iolssue renewal note or bond for an old bond,
10 tell HIM that II is 10 be regretted that
the necessities of Portland's case are such
that he should have felt compelled 10 cast
discredu upon the bonds OF the State which
will he constiiutionslly issued, legally is
sued. bought alta high rate of premium and
eagerly sough, for by the banks and people
Of this country. Applause give you,
Mr. President not my opinion alone. but
behind II the opinion of the Attorney General
OF this State, when this question was put to
hun professionally As the Attorney General,
with the responsibility of his office as the
States counsel II my learned friend wants
10 discuss the question still further, and
wants 10 challenge the accuracy of my opiu-
| ion, have other authorities and other opin-
ions higher than the senator from kennebec
or the Senator from Cumberland, or the At
torney General, which think would eifectu-
all. dispose Of this question OF constitution
ahty ss II does under the constitution of all
other questions OF n similar character. Ii
was not necessary, MIR. President, in order
that this agitation of the capital question
might be kept open for two years-t was
not necessary ON the floor of this Senate
chamber to east d.scrcdit upon the bonds of
this state which will be legally issued, a.I
have stated, and constitutonaly issued.
| Why nv learned brother SAYS, whore is the
power. the authority for the rcncwalg lu
the same authority, answer, that gave US
the power Ia contract debt, Why, Mr.
President, to say that this state has no
sovereign power, has No sovereign author
ltN, aud that the $500 900 of Octo-
hcr is falling due the first of October, no
sinking fund TO meet them to say that We
have not the power to issue renewal note
to the holders of those bonds; that is what
the new three IN, ans The new threes to 20
out October first are hut renewal notes. not
the creation of a debt. The debt was ere
ated II years ago when we did Justice by the
towns, II falls due on the first day of Oc-
toher There is not one line in that consti-
tutional amendment that saws We shall not
renew Il; not one line that SAYS it must be
pad then; not one line in that constitutional
amendment that authorizes u sinking fund.
The sinking fund was matter of statute on
the part of the legislature. passing or repeal
my as It saw tit, as its fiscal necessities
might require Can any court say that there
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Now, Mr. President the trouble with the
far drawn criticism Of my friend from
''nmher and all arises from this fact that