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Session Laws, 1840
Volume 592, Page 396   View pdf image
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RESOLUTIONS.

1841.

Resolved, That a grant of the Public Lands to the seve-
ral States in which they lie, would be an usurpation of
power never conferred upon Congress, and in direct viola-
tion of the rights of the other States.
Resolved, That His Excellency, the Governor, be re-
quested to transmit copies of the foregoing Report and
Resolutions, to each of our Senators and Representatives
in Congress, with a request that they will lay the same be-
fore their respective houses, and use their endeavors to"
procure the passage of an act, to carry into effect the
speedy distribution of the proceeds of sale of the Public
Lands.
Resolved, That His Excellency, the Governor, be also
requested to transmit copies of the said report and resolu-
tions to the Governors of the several States of the Union,
with a request that they will communicate the same to the
Legislatures thereof, respectively, and ask their co-opera-
tion.

No. 3.

Resolution authorising the Commissioner of Loans, to bor-
row five hundred thousand dollars, for the use of the
State.

Resolved by the General Assembly of Maryland, That
the Commissioner of Loans, be and he is hereby authorised
and directed, to borrow, on the credit and for the use of
this State, at a rate of interest, not exceeding six per cent
per annum, and at such times and in such sums as the Trea-
surer of the Western Shore shall advise, not exceeding
five hundred thousand dollars, to be made payable twelve
months after the date of each loan, out of the proceeds of
the tax directed to be levied by the act of the present ses-
sion, entitled an act for the general valuation and assessment
of property in this State, and to provide a tax to pay the
debts of the State; and the revenue thence to be derived,
as well as the faith of the State, is hereby appropriated to
and pledged for the punctual payment of the said loans,
both principal and interest.
And be it further resolved, That if any banks in this State,
whereof the State is a stockholder, shall purchase of the
Commissioner of Loans, the stock thereof belonging to the
State, upon such terms as the Treasurer of the Western

Passed April 1,
1841.



 
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Session Laws, 1840
Volume 592, Page 396   View pdf image
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