The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-12-22
issued in payment of subscription and

| issued in payment of subscription and
/ taxes levied to pay the same, principal
and interest, according to the terms
and conditions of said bonds, and that
the board of commissioners of the county
should issue the bonds and levy the
taxes to pay the township subscriptions.
Section IA, of Article Ii. of the Con-
stitution ordains that mo law shall be
Tpasseu it5--ifaaise money on the credit Of
the State or to pledge the faith of the
State, directly or indirectly, for the
payment of any debt, or to impose any
tax upon the people of the State, or to
allow the counties, cities or towns to do
so, unless the bill for the purpose shall
have been read three several times in
each House of the General Assembly,
and passed three several readings, which
readings shall have been on three diff
ferent days, and agreed to by each
| House respectively, and unless the
yeas and nays on the second and third
readings of the bill shall have been
entered on the journal"
The plaintiffs were allowed to produce
copies of the House Journal, certified by
the Secretary of State, and they showed
that the aforementioned acts were not
passed by the General Assembly in ac-
cordance with the requirements of the
Constitution.
''It is clear" says Judge Montgomery
in writing the opinion of the court, that
as legislation in reference to raising
money on the credit of the State or
pledging its faith to the payment of
debt, or imposing any tax on the people
of the State, or allowing the counties,
cities or towns to do so, the Constitn
ton itself ordains that such legislation
is void unless the bills have passed three
separate readings, on three different
days, and unless the yeas and nays Oh
the second and third readings shall have
been entered on the journal. The bill
may, i'm point of fact have been read
three several times and on three different
days and the yeas and nays may have
been actually called on the second and
third readings and the presiding Of
ficers may have certified thereto, and
yet if the entry of the yeas and nays
is not actually made on the journal, the
Constitution. speaking with absolute
clearness. says the failure of such entry
is fatal to the validity Oh the act. The
entry, showing who voted ON the bin
and how they voted. must be made be-
fore .he bill can ever become a law.
The Constitution does not allow the
certificate of the presiding officers or any
other power to cure such an omis-
sion.
we nave given to the matters EN-
braced in this case a patient and thor
ough consideration. We are aware of
the hardships and losses that may follow
frcm our decision and we are also
aware of the probable scomplaints likely
to be made by persons interested. But
the constitutional requirement which we
have discussed is clear in its meaning
and in its,language. and it is also man.
datory We must obey it in our inter
probation of it's meaning. Investors in
such securities who may meet with
losses have no one to blame but them
selves for the journals of the General
Assembly are open to public inspection,
and the Constitution of the State is a
part Of the public literature. The pur-
chaser of real estate with us must look
to the repositories of his title for the
security of his purchase, and so must
the investors in our State and county
and municipal bonds look to the Con-
stitution and the laws for the safety of
their investments.
"NEe find no error in the ruling of the
court below" r-sBE
The opinion in this case was written
by Judge Montgomery; concurring opin-
ion by Judge Furches and a dissenting
opinion by Chief Justice Faircloth.
1t is said that by this decision the
University of North Carolina Hoses S.
600 and a bank in Richmond loses $780,
600. No doubt there are quite a number
of individuals and Institutions in the
State that are this morning much poorer
by virtue of this decision.