The Legislature Convened In

ordinary session on luesday. The proclamation of Gov. B.VGLEY calling the sosBion limits the business to a consideraron of the amended or revised Cotistitution. Tho message of tbe (ioveruor, to be found in anothor column, also ñames no other subject of legislation ; but it is rumored that othor subjects will bo subuiittod by speeial message, their nuinber being probably depondent upon tho progresa made in tearing the work of tho Commission to pieoes. In our last issue we discussed two of tho mam provisions of the Constitution : the Judicial Articlo and tho Salary Articlo. It will ba noticed by tho reader that tho Governor does not take kindly to tho provisión for appointing Judges. As to salaries, ho favors moro liberal ones than are now provided by tho organic law, espeeially for Judges, and points out tho evils growing out of the present niggardly rostrictions. Ho, however, avoids expressing any opinión as to whether tho salaries should bo fixed in the Constitution or remitted to the Legislature. Tho Governor also discusses tho fiuancial artiole and the article concerning corporations, indorsing the formor without reservo, but suggesting somo desirable changos in tho latter. The Coustitution should oxplicitly and iu language boyond misconstruction prohibit the " watering" of stocks in any and all corporations. Stock should only be poriuittcd to represent the actual cost of permanent ioiprovements ; curront expenses and repairs should not bo stockod. And to reach so desirable an ond stock dividends should be prohibí tod. All dbidends should bo made in cash, and capital stock especially of railroad and public corporations, should only bo increased ou notice and by the opening of books, the subscriptions thereto to be paid in cash. At this time, howover, we will not dis cuss further oither tho message or the Con stitution itself. In Gov. Bagley's discussion of the financial provisions of the new Constitution ho says : " Whilü our State debt is " decreasing annually, overy yoar sees the " bonded indebtedness of our cities and " and towns increaso. Tho policy of is" suing bonds for municipal and local " purposes is unwise, expensive, and leads " to. public oxtravaganco. The peoplo of " a uiunicipality in voting for tho issuo of " a thousand dollar ten per cent. bond foi " twenty years, forgot that when the bond " is issued they havo assumed an obliga" tion of three thousand dollarf ." True overy word, and the oft repeated argument that iuiprovetnents are being made for posterity, and that posterity should be saddled with a portioa of the coat is utterly groundless. It may be wisdom to divide the cost of a school building or Court House or Capítol, etc., into a few payments, for the convenience of the taxpayers, but it is worse than foolishness to contract to pay interest ton, fifteen or twenty years for the sake of bleeding posterity for a portion of the principal. The future will bring its own necessities óñ o ïellêvë tFeVeopiePtó-iSy cÖTOte3.'! burdens. There may be exceptions - the oxceptions growing out of war internal or foreign - and even then if tho principie of " pay as you go " was kept in view debts would not increase with such rapidity or to such enormous sums. The ten per cent. limit - sect. 15, art. x. - would permii our city to contract a debt of say f150,000, enough in all consoience to satisfy even those financiers and politicians who hold that a national debt is a national blcssing, and a municipal dobt a municipal blessing. We are inclined to think, also, that in no case should a uiunicipality be permitted to issue bouds running over ten years, and would suggest such nu amendniont to tho section referred to. The Sexate has waatod a good deal of valuablo time during tho last fortnight (that is if the time of Senators is at all valuable) in discussing the proposed Centennial International Exposition or celebration. Now this Centennial anniversary ought to bo observed, observed appropriately, and observed at Philadelphia. But it ought not to bo an international aft'air even if it is to bo an Exposition - the big sounding and modern word for fair. It seems to us in decidedly poor taste for this nation to invite England, Germany, France or any other Kuropean nation to join with us in commemorating the events and and results which cluster around the Fourth of July, 1876. It is liko inviting a man to officiato as pallbearer or sexton at his own funeral. As to whether an appropriation should be made in aid of the celebration depends upon what the celebration is to be : for an international show not a cent ; for such an exhibition or dbmonstration as will reflect credit and honor upon the nation a liberal appropriation under proper restrictions would be commended and approved by tho people. The State Troasury is to be invostigated, on motion of Mr. Cook, tho new Senator from Hillsdale county. Information is wanted as to what banks Htate funds are deposited in, what interest is received by tho State, and what security is required. While Mr. Cook's hand is in will ho not inquiro why a bank holding a deposit of half a mülion of State mouoys Iets the Stato Treasuror"s draft drawn in favor of a Stato institutiou go to protest 'i also, why approjmations overdue are doled out in installments - and that with iho agoiiy which comes from having a ;ooth pulled - whilo the Treasury balance is over half a uiülion 't The session of tho Senate (ü. S.) was given up mostly on Wednesday to "talk" upon tho Louisinna eleotion bill of Mr. Cakpenteu and thu Contcnnial appropriation bill of Mr. Cameeox. But as tho Senate has tho power of eoiitinuation of a modern Eaglish novelist noither bill was nearer a voto at the closo of tho session than at the begiiming. It sometimes eems a groat pity that Senatora and Eeresontatives have tho faeulty of speech, that is in suoh abnorinal proportions). Thero are in the city of Detroit 1,247 linces where spirituous liquors hre sold. rhese figures include wholesale liquor ouses, drug stores, grooeries, rictiialing louses, bars and saloons.