American municipal bonds as investments, ed. by J.H. Rudall & sons, Τόμος 96

Εξώφυλλο
J.H. Rudald (and sons)
1874
 

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Σελίδα 95 - Tis not the concern of a day, a year, or an age; posterity are virtually involved in the contest, and will be more or less affected even to the end of time, by the proceedings now. Now is the seed-time of continental union, faith and honor.
Σελίδα 77 - A question was made upon the argument, that the suit could not be maintained upon the coupons without the production of the bonds to which they had been attached. But the answer is, that these coupons or warrants for the interest were drawn and executed in a form and mode for the very purpose of separating them from the bond, and thereby dispensing with the necessity of its production at the time of the accruing of each installment of interest, and at the same time to furnish complete evidence of...
Σελίδα 81 - The laws requiring taxes to the requisite amount to be collected, in force when the bonds were issued, are still in force for all the purposes of this case. The act of 1863 is, so far as it affects these bonds, a nullity. It is the duty of the city to impose and collect the taxes in all respects as if that act had not been passed. A different result would leave nothing of the contract, but an abstract right, — of no practical value, — and render the protection of the Constitution a shadow and...
Σελίδα 81 - It is equally clear that where a state has authorized a municipal corporation to contract and to exercise the power of local taxation to the extent necessary to meet its engagements, the power thus given cannot be withdrawn until the contract is satisfied. The state and the corporation, in such cases, are equally bound. The power given becomes a trust which the donor cannot annul, and which the donee is bound to execute ; and neither the state nor the corporation can any more impair the obligation...
Σελίδα 56 - He observed, that the general object was to provide a cure for the evils under which the United States labored ; that, in tracing these evils to their origin, every man had found it in the turbulence and follies of democracy ; that some check therefore was to be sought for against this tendency of our governments ; and that a good Senate seemed most likely to answer the purpose.
Σελίδα 55 - ... recollect the change of opinion on this subject which had taken place, and was still going on. It was once thought that the power of Congress was amply sufficient to secure the end of their institution. The error was now seen by every one. The members most tenacious of republicanism . . . were as loud as any in declaiming against the vices of democracy.
Σελίδα 86 - The privilege, though for the benefit of the Indians, is annexed, by the terms which create it, to the land itself, not to their persons. It is for their advantage that it should be annexed to the land, because, in the event of a sale, on which alone the question could become material, the value would be enhanced by it.
Σελίδα 77 - We may now take it for granted that the dealings with these companies are not like dealings with other partnerships, and that the parties dealing with them are bound to read the statute and the deed of settlement. But they are not bound to do more. And the party here, on reading the deed of settlement, would find, not a prohibition from borrowing, but a permission to do so on certain conditions...
Σελίδα 56 - ... on a candid examination of history, we shall find that turbulence, violence, and abuse of power by the majority trampling on the rights of the minority, have produced factions and commotions which, in republics, have more frequently than any other cause produced despotism. If we go over the whole history of ancient and modern republics, we shall find their destruction to have generally resulted from those causes.
Σελίδα 77 - Another answer to this ground of defense is, that the purchaser of the bonds had a right to assume that the vote of the county, which was made a condition to the grant of the power...

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