Canal, the Chesapeake and Delaware Canal,
and the Susquehanna and Tide Water Canal.
Now, is it the sense of this convention that
the legislature shall have its hands tied in
this respect? I presume not. I cannot think
that any of those who voted for this propo-
sition voted with that view. I am certain
that I was under the impression that it only
meant in reference to the Chesapeake and
Delaware Canal, and the Susquehanna and
Tide Water Canal, what the amendment of the
gentleman from Frederick (Mr. Schley) ac-
cepted by the gentleman from Prince George's
(Mr. Clarke) meant in reference to the Ches-
apeake and Ohio Canal. That is, that what-
ever disposition should be made of those
works under the previous action of the leg-
islature, should not be valid until ratified
by a subsequent legislature. And that pre-
vious action was to be optional with the leg-
islature of Maryland, It might exercise its
discretion and act, and then the sale could
goon; or if it did not exercise its discre-
tion, and did not act, then the sale could not
go on. The section reported by the majority
of the select committee leaves it entirely
optional with the legislature. It only indi-
cates the board, which, after the legislature
has determined to act, shall carry the deci-
sion of the legislature into effect. This
amendment goes too far altogether. I am
willing to vote that the Chesapeake and Del-
aware Canal and the Susquehanna and Tide
Water Canal, shall be placed in the same cate-
gory with the Chesapeake and Ohio Canal.
Mr. STIRLING. I will suggest to the gen-
tleman an explanation of the reasons why I
offered that amendment, although possibly it
is stronger than I intended. The gentleman
argues that as this section was reported by
the select committee, the power to sell these
canals was contingent upon the action of the
legislature. Now I contend that the section
is not susceptible of that interpretation. It
authorizes this board to sell the canals just as
absolutely as it authorizes it to sell the rail-
road. It says, I know, "subject to such con-
ditions as the general assembly may from
time to time prescribe." But if they do not
prescribe any conditions the right of sale is
absolute,
Mr. NEGLEY. Certainly not.
Mr. STIRLING. The section reads, "and
subject to such regulations and conditions as
the genera] assembly may from time to time
prescribe, to sell the State's interest in the
other works of internal improvement."
That is all the right the general assembly has
to control the power given to this board, and
if the general assembly fails to exercise that
right, does nothing, keeps silent, then the
board may goon and sell. That is the true
construction of the section, I think.
Mr. NEGLEY. I do not think so. Why
make this distinction at all? The section as
proposed by the select committee provides : |
" The governor, comptroller and treasurer
of the State are hereby authorized conjointly,
or any two of them, to exchange the State's
interest in the Baltimore and Ohio Railroad
Company for an equal amount of the bonds
or registered debt now owing by the State."
And there that first branch stops. This
board can make this sale at once. It was the
intention of the committee to empower this
board to do so at once, for the reason that
those stocks are now high, having advanced
nearly one hundred per cent by reason of the
inflation Of the currency, and the State could
get rid of them, without the sacrifice of any
of the money invested by the State.
But what else do the committee say? They
put the sale or disposal of all the other works
of internal improvements under the supervi-
sory direction of the legislature. After say-
ing that this board may go on at once and
dispose of the State's interest in the Baltimore
and Ohio railroad, the committee then pro-
vide—
" And subject to such regulations and con-
ditions as the general assembly may from
time to time prescribe, to sell the State's inter-
est in the other works of internal improve-
ment, whether as a stockholder or a creditor,
also the State's interest in any banking cor-
poration, and receive in payment the bonds
and registered debt now owing by the State
equal in amount to the price obtained for the
State's said interest."
Now the very sale, the very disposition ia
subject to what? To the regulations and
conditions which the general assembly may
from time to time prescribe. The board can-
not move, it cannot make a disposition of
one dollar's worth of the stock of any work
in which the State is interested, except the
Baltimore and Ohio railroad, without previ-
ous action bad by the legislature, "And
subject to" comes in first. The action of this
board is subject to what? "And subject to
such regulations and conditions as the gene-
ral assembly may from time to time prescribe
to sell the State's interest in the other works
of internal improvement." That is the en-
tire sentence. The limitation comes in first
and is as strong as the English language can
make it, that the board cannot act except is
that way. Because the section expressly says
that subject to such rules and regulations as
the general assembly may from time to time
prescribe, they can then, and not till then go
on and sell the State's interest in the other
works of internal improvement.
Now, suppose the legislature failed to make
any such regulation or condition? Can it be
argued that this board can go on and sell?
Certainly not, because the section says, "and
subject to such regulations and conditions as
the legislature may prescribe from time to
time, " Then if the legisinture does prescribe
any regulations and conditions in respect to
the sale of these respective works, then and not |
