no difference which way we may decide it
These instructions are not to bind the house;
the whole subject is to be opened up again
when the committee shall report; and the
time of the house is to be again consumed in
the discussion. I move to lay the order on
the table.
The motion to lay on the table was agreed
to.
No further amendment was offered to sec-
tion thirty-one.
INTERNAL IMPROVEMENTS, &C.
The next section remaining unconsidered
was section thirty-nine, which was read, as
follows:
" The general assembly shall pass laws to
sell, lease or otherwise dispose of the State's
interest in the works of internal improve-
ment, in which the State is either stockholder
or creditor; and to appropriate the proceeds
arising therefrom towards the payment of the
public debt of the State; and after the public
debt shall have been fully paid off, or the
sinking fund shall be equal to its liquidation,
to create out of said proceeds a permanent
fund for the support of public education,"
Notice of the following amendments had
been given, and the amendments entered on
the journal;
By Mr. RIDGELY, as a substitute:
"Section 39. The governor, comptroller,
and treasurer of the State, are hereby au-
thorized conjointly, or any two of them, to
sell from time to time according to their best
judgment the State's interest in the works of
internal improvement, whether as stockholder
or creditor, also the State's interest in any
banking corporation, and to apply the pro-
ceeds arising therefrom towards the payment
of the public debt of the State; and after the
public debt shall have been fully paid off, or
the sinking fund shall be equal to its liquida-
tion, the excess of such sales shall be set apart
as a permanent fund for the support of public
education; provided, however, that the pow-
er hereby conferred, shall only be exercised
when the proceeds of such sales can be con-
verted into a like amount of the public debt;
and provided further, that the State's in-
terest in the Washington branch of the Balti-
more and Ohio Railroad, shall be and is
hereby reserved and excepted from the sale
hereby authorized; and provided further, that
the State's interest in or claim against the
Chesapeake and Ohio canal, the Tide Water
canal, and the Chesapeake and Delaware
canal may besold upon the best terms which
may be obtained for the same."
By Mr. CHAMBERS, of the following substi-
tute:
"Section 39. It shall be the duty of the
legislature at its first session after the adop-
tion of this constitution, to provide by law
for the sale to the highest bidder of all or such
part of the stock owned by this State in any |
railroad or canal company, and of the debt
due to this State by any railroad or canal
company as can be sold or exchanged for not
less than an equal amount of the present pub-
lic or stock debt of this State, and to convey
the interest so sold to the purchaser or pur-
chasers thereof; and so to proceed from time
to time until all such interest of the State in
every such corporation shall be wholly sold
and disposed of."
By Mr. MILLER, of the following substi-
tute ;
"Section 39. The governor, comptroller,
and treasurer of the State, or any two of
them, may sell from time to time, according
to their best judgment, the State's interest in
the works of internal improvement, whether
as stockholder or creditor, and apply the pro-
ceeds towards the payment of the public debt
of the State; and after the public debt shall
have been fully paid off, or the sinking fund
shall be equal to its liquidation, the surplus
of such sales shall be set apart as a perma-
nent fund for the support of public education ;
provided, however, that the power of sale
hereby conferred, shall only be exercised
when the proceeds of such sales can be con-
verted into a like amount of the public debt;
and provided further, that the State's interest
in the Washington branch of the Baltimore
and Ohio Railroad Company shall be and is
hereby reserved from the sale hereby author-
ized."
And by Mr. JONES, of Somerset, of the fol-
lowing amendment;
Amend 39th section by inserting after the
word " creditor," in the 3d line, these words,
" except the State's right to receive one-fifth
of the money arising from passengers over
the Washington branch of the Baltimore and
Ohio Railroad."
Mr. CHAMBERS. There is a defect in the
amendment I offered. I desire to reserve from
sale the State's interest in the Washington
branch of the Baltimore and Ohio Railroad,
and I ask leave to modify my amendment ac-
cordingly,
No objection was made and the amendment
was accordingly modified.
The question was stated to be upon agree-
ing to the substitute submitted by Mr. RIDGE-
LY for section thirty-nine of the report of the
committee.
Mr. RIDGELY. I have a few words to sub-
mit in support of the proposition I have sub-
mitted to the house. I believe it will be
conceded that it is the true interest of the
State, whenever its assets, or its means and
resources, can be so realized as to enable it
profitably to extinguish its public debt, to so
employ them. The same policy should con-
trol the State, that would be most beneficial
to the individual. And any individual,
whenever he finds himself in a condition to
relieve himself from debt by the application
of his resources in that direction, would act |
