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The New Amendment

The New Amendment image The New Amendment image
Parent Issue
Day
14
Month
October
Year
1870
Copyright
Public Domain
OCR Text

TI) o Cbicago Tribune, ono of tha Lading RepubHcan p-.ipera of the West, thus speaka of tho new ameudment to the Coustitution whiuh ia to bo votcd upon in November by the people ol ihia tato : Tliis atnendmeut i.s speciously drawn. lts advocates will insist that it is a mero permistiou to these people to assutne or repudíate tbo dabt, as they muy cboose, u;d ihat tho wholu people of the Stute ouglit to vote them this privilege. But ttie objectifu to this kind of iudebtedness canuot be removed by such argument as that. ín principie, it does uot d fftr froui a general HUthoriiy to vote railrond aid liebts. Au umendment authoriziDg every town in the Btato to vote railroad aid would bü merely to autorizo tliu peoplt to subscribe or not, ut their pleasure, and the amendment actually proposod by tho Legi-laturo is preeisely tbe same thing, with the limilaiious to the amounl and to the towns iudicated. The objectiitn to the sys'em of Lndebtednesa is radioal. The ri;hta of piivato preperty are gacred. The uiajority of the peoplo iu no town have the righl to coi.tiscate or niortgoge private property, except for public uses. They hae no right, nor eau they be investid wiih thu power to take the [roperly of tmí mau íiud give it t(i aiiother. Imlopei.detitly of this fundauíental principie of ju-tice, such Bub.-criptions aie agaiust hound policy. Nothiog can bo more .-uicida! tbon this vvholesale indobtedness. ]f the propositioh were made to incur a ötato ueDt 01 so.vuu,OUÜ ia aid of railroads, it would be overwheluiiug'y rcjected, beoaúsí ;in enormou.H publio debt is a grievous burden, and a poskive injury to ilio State. How müoh more oppiessivo w;ll bo this Earuo dubt wiien it beeomes a speciul tnortgage upon the ro:il and personal property of a few countios ui d tcwns. It will .hana; 01 them like ;v cru.liing wuight. It will be a lien upon tüeir farms for tho nest generatiou. It wül detcr iuiniiiiation and drive out c.spuilal. It will force meu to cstablish theinsolvea in couiuies exampt trom iBortgag6, aud exempt from ihe ocajoless de:i.ands of tbo boudlioldsrs for tlieir interest, lf tlio ptoplu of Miohign trant iiWances of the èffoot of these railroad debt?, lot them ook :it lcvvi, Wiácoiisin and lilineis. Lot thetii look at thu blisfht that !]i8 follo.vi d these bonds. Let them look ut. the pitiful exhibifion of tb e corporato aathorilies f porhapu a soi tj of couuties, tiwns und cities, now ander ao:ual arrest for refuing to levy a'id . rullest ti'xos to y.ij these bonds, wheo, in point of faet, to ooücct i! o tas from tha properly of t'io raunii-ipalities i.s practical conlifcatiou. All m vab'a capi'.al bas fled tho oonmuoititB, ond the only cities (r tuvi..- whicli a o on jnyipg c mparötÏTe prMperity ut thoso whit'h bave o.x iince (ii- tinully reptidi;iloil, bnt agniiist wttom liga' proceid injíf will t'voi.tui.My Iki sdopted. Tbo people of tbifi State, ly a vote of nearly uve to onv, recently plaQed a prohibition tip:n thif) kind of bu-inees, and Vn-y do só i'ii th-j grouiid tltat the? inevitable bmikrupiey wbioh fo'low thosiï muniiiijalilies tíiat incur these dtibts is a )ira;tioal injuiy to ihe oharucter and credit of tlie whtile Rtiie.

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Subjects
Old News
Michigan Argus