stain from mingling in debate. Without then at-
tempting to open a discussion of the several
important propositions contained in his substitute
—tor he did not even intend to propose them for
consideration at this time—he would endeavor
very brifly to state some of his objections to the
first branch of the present amendment of the gen-
tleman from Queen Anne's, and for which he
proposed to offer the first of his propositions as a
substitute. And he was gratified to find that
there was now far less disagreement between the
views of that gentleman, as shown by the remod-
eling this morning of his amendment, and those
expressed in his, [Mr. C's.,] substitute. Indeed,
the section as now amended by that gentleman,
was not only essentially different, but in one re-
spect. [and that quite important,] was a counter
proposition. The whole of the second branch of
the original, as submitted by that gentleman, and
once adopted by the Convention, was left out
of the section as amended by him this morning,
while the first branch of it was so modified as to
render it much less obnoxious. In fact, the arti-
cle as now amended, approximated nearer to his,
[Mr. C's.,] substitute than to the original of the
gentleman from Queen Anne's. But there still
remained one point of difference between them,
and which he, [Mr C,] regarded as of essential
importance. The first branch of the section, as
now amended by the gentleman, proposed to lim-
it the power to contract debt by fixing a maximum
of one hundred thousand dollars, while the origi-
nal conferred the power without such limitation ;
both, however, required that a tax should be imposed
sufficient to pay the accruing annual inte-
rest and discharge the principal in fifteen years.
Now, while he thanked the gentleman from
Queen Anne's fir this concession, still it did not
come up to what he, [Mr. C.,] considered as the
proper and necessary restriction of the power.
For. said Mr. C., regard the withholding from
the Legislature of all power to contract debt ex-
cept in the emergencies of invasion or insurrec-
tion, as the only true and reliable safeguard He
also adverted to the fact that this branch of the
amendment contained no specification of the objects
for which debts might be contracted, and remarked
that he did not know that he would object to the
power to negotiate temporary loans, when neces-
sary, to meet an unexpected deficit in the reve-
nue, although he feared that his very facility for
supplying such deficit might sometimes have a
tendency to cause one. Such was the general
course with individuals, and the same might Be
indicated in regard to States. But here the pow-
er is not confined by any declared purpose and
may consequently be exerted for any and every
object within the whole range of legislative ac-
tion.
Not only was it objectionable in this respect,
but the professed limitation of the powerby at
maximum amount of any such debt, as that it shall
not at any time, exceed one hundred thousand
dollars, he regarded as delusive A much larger
authority lurks under the words of this grant, than
many may suppose. Any amount that the peo-
ple will endure to betaxed for may, in a series of
years, be borrowed under this amendment. The |
contracting of one such debt—the borrowing at
one time of one hundred thousand would not ex-
haust the power, but only operate as a temporary
suspension of it until the revenue raised by taxa-
tion, or derived from some other source, should
discharge the debt. And why may not this be
done every year? Thus a succession of debts
within the amount specified, be contracted and
paid off during each year by a trifling tax, until
millions had been borrowed and improvidently
squandered. Any authority which might bring
about such acondition of things, was not only to
be deprecated, but was scarcely less objection-
able than a power to borrow in any one year, a
sum not exceeding one hundred thousand dollars,
without the condition that a tax should be im-
posed when the debt was contracted. In either
case, the Legislature might exert the power with
equal facility, and he feared to an improper ex-
tent. In both cases the burdens on the people
who have to pay might be onerous, and as little
relished as their present heavy taxes. The chief
difference consisting rather of the time when they
should be taxed, than as to the amount—whether,
immediately, the small sum necessary in each
year to re-emburse the principal and interest,
or a larger amount at a future and remote time.
Such a consideration, Mr. C. said, was not, in
his judgment, a sufficient restraint on this power.
Wherever it exists as in the counties, where the
amount borrowed is paid by taxes imposed dur-
ing the) ear, it has never been regarded as an
obstacle or check on the power to borrow and
contract debt.
Mr. C said, that he desired the most stringent
and effective limitation of this power—that noth-
ing but the highest public exigencies should call
it into being. He would, therefore move lo
strike out the first branch of the section as amend-
ed by the gentleman from Queen Anne's, with a
view to substitute the following:
"The Legislature shall have no power to contract
debts or borrow money, except to repel invasion or
insurrection."
Mr. C. remarked, in conclusion, that the other
propositions of which he had given notice in his
substitute, related to the general powers of taxa-
tion and appropriation for State proposes, to a
proper enumeration of the purposes as well as the
subjects of the former, and the appropriate limita-
tion of the latter. These he should not now pre-
sent or attempt to discuss, for the reason already
indicated, but he would offer them for considera-
tion when the subject again came betore the
Convention.
SATURDAY, March 8th, 1851.
The Convention met at ten o'clock.
Prayer was made by the Rev. Mr. GRAUFF.
The roll was called, and the journal of yester-
day was read, and several corrections having |
