millions, four hundred and eighteen thousand dollars, the deficiency shall be supplied by taxation the next year. The remaining revenues of the canals, in each fiscal year, may be applied by law to the improvement or completion of the canals, but shall at no time be anticipated or pledged; if not so applied they shall be and remain a part of the Canal Debt Sinking Fund. The tax authorized to provide for the Sinking Fund to pay the floating canal debt, shall be suspended after the first day of October, one thousand eight hundred and sixty-eight.

SECTION 3. After the debts specified in section one are paid or provided for, according to the provisions of section two, the revenues of the canals, after paying the expenses of collection, superintendence and ordinary repair, shall in each fiscal year be paid into the treasury of the State, to pay the amount advanced since one thousand eight hundred and forty-six for canal purposes by taxation, until the whole amount so advanced, with interest at five per cent per annum shall be paid, and until any amount hereafter advanced for canal debts or other canal purposes, with interest thereon at five per cent per annum, shall be paid; but the moneys so paid into the treasury may, from time to time, be appropriated by law for the improvement of the canals, or for such other pur poses as may be deemed proper. But the said moneys shall not be anticipated or pledged.

SECTION 4. After complying with the provisions of the second and third sections of this article, and after paying said expenses of collection, superintendence and ordinary repair, the surplus revenues of the canals may, in each fiscal year, be disposed of for the improvement of the canals, or for such other purposes as the Legislature may direct, but shall at no time be anticipated or pledged.

SECTION 5. The claims of the State against any incorporated company, to pay the interest and redeem the principal of the stock of the State, loaned or advanced to such company, shall be enforced, and not released or compromised; and the moneys arising from such claims shall be applied to the payment of said stock, or to repay the money which may be advanced to pay the same.

SECTION 6. The canals shall not be sold, leased, or otherwise disposed of, and shall remain under the management of the State forever.

SECTION 7. No moneys shall be paid out of the treasury of the State, or funds under its management, except in pursuance of an appropriation by law, nor unless such payment be made within two years after the passage of such appropriation; and every law making, continuing, or reviving an appropriation, shall specify the sum appropriated, and the objects to which it is to be applied, and it shall not be sufficient for such law to refer to any other law for that purpose.

SECTION 8. The credit of the State shall not be given or loaned to, or in aid of any individual, corporation or association. On the final passage, in each house of the Legislature, of any act appropriating money or property, except for the purposes of Government, the question shall be taken by yeas and nays, which shall be entered on the journal, and two-thirds of all the members elected to each house shall be necessary to pass the same.

SECTION 9. The State may, to meet casual deficits or failures in revenues, or for unexpected expenses not provided for, temporarily contract debts; but such debts, direct and contingent, singly or in the aggregate, shall not at any time exceed one million dollars; and the moneys arising from the loans creating such debts shall be applied to the purposes for which they were obtained, or to repay the debt so contracted, and to no other purpose whatever; and such temporary debts shall in all cases be provided for at the earliest practicable period, and shall be paid within two years after they are contracted.

SECTION 10. The State may also contract debts to repel invasion of the State or of the United States, to suppress insurrection in the State or the United States, or to defend the State or the United States in war; but the money so raised shall be applied to such purpose or to repay such debts, and to no other purpose.

SECTION 11. Except the debts specified in the ninth and tenth sections of this article, no debt shall be contracted by or on behalf of the State, unless it shall be authorized by law for some single work or object to be specified therein; and such law shall provide for a direct annual tax sufficient to pay the interest on such debt as it shall become due; and also to pay the principal of such debt within eighteen years from the time of the contracting thereof. No

such law shall take effect until it shall have been submitted to the people at a general election, and shall have received a majority of all the votes cast for and against it at such election. On the final passage of such bill, in each house of the Legislature, the question shall be "Shall this bill pass and ought the same to receive the. sanction of the people?," which shall be taken by yeas and nays to be entered on the journal. The Legislature may at any time repeal such law, if no debt shall have been contracted in pursuance thereof, and may at any time forbid the contracting of any further debts. under such law; but if any debts shall have been contracted, the tax in proportion thereto shall be irrepealable and be annually collected until the proceeds thereof shall be sufficient to pay such debt. The money, arising from any loan or stock creating such debt shall be applied to the work or object specified in the act authorizing such debt, or for the repayment of such debt, and for no other purpose. No such law shall be voted upon within three months after its passage, nor at any general election when any other law or any amendment to the Constitution shall be submitted to the people.

SECTION 12. Every law which imposes, continues, or revives a tax, shall distinctly state the tax and the object to which it is to be applied; and it shall not be sufficient to refer to any other law to fix such tax or object.

SECTION 13. No deficiency loan shall be made for a longer period than is necessary to enable the sinking fund, provided for its pay. ment, to accumulate an amount sufficient to discharge it; and in no case shall such loan be made for more than six years.

SECTION 14. No money shall be drawn from the treasury, except in pursuance of an appropriation by law, and on the warrant of the Comptroller; and all bonds, stocks and other securities issued by the State shall be signed by the Comptroller on behalf of the State.

SECTION 15. Real and Personal property shall be subject to a uniform rule of assessment and taxation.

SECTION 16. The Comptroller is authorized to renew the bounty debt or any part thereof, by extending the time of its payment to the first day of October, one thousand eight hundred and eighty-six,

and to issue stock for that purpose, which he may apply in exchange for the outstanding stock, or sell; and in case of sale, the proceeds thereof shall be applied to the purchase of the outstanding stock. The rate of interest on said stock shall not exceed seven per cent per annum, payable semi-annually, and said stock shall be exchanged or negotiated on the best possible terms, and in no event at less than par, nor at a lower rate than the outstanding stock can be purchased for, at the time the sale or exchange shall be effected. The principal and interest of the stock hereby authorized shall be secured by a direct annual tax to pay, and sufficient to pay, the interest thereon as it shall become due, and also to pay the principal thereof within eighteen years from October first, eighteen hundred and sixty-eight. The Legislature may appropriate, from time to time, to the payment of the principal or interest of said stock any funds of the State not otherwise appropriated; and in case of such appropriation the tax to supply the sinking fund shall be correspondingly reduced.

SECTION 17. The State shall not subscribe for, purchase or in any way own, except by bequest, shares or stock, in any company or Corporation, nor invest any portion of its funds in the same.

SECTION 18. The Legislature shall never sell or dispose of the salt springs. The lands of the State adjacent thereto may be sold by authority of law, and under the direction of the Commissioners of the Land Office, for the purpose of investing the moneys arising therefrom in other lands convenient for the manufacture of salt; but by such sale and purchase the aggregate quantity of such lands shall not be diminished.

ARTICLE IX.

SECTION 1. The capital of the common school fund; the capital of the literature fund; the capital of the United States Deposit. fund; the capital of the college land-scrip fund, and the capital of the Cornell endowment fund as it shall be paid into the treasury, shall each be preserved inviolate. The revenues of the common school fund shall be applied to the support of common schools; the revenues of the literature fund shall be applied to the support of Academies; and the sum of twenty-five thousand dollars of the revenue of the United States deposit fund shall each year be

appropriated to, and made a part of, the capital of the common school fund; the revenues of the college land-scrip fund shall each year be appropriated and applied to the support of the Cornell University, in the mode and for the purposes defined by the act of Congress donating public lands to the several States and Territories, approved July second, one thousand eight hundred and sixty-two, so long as the University shall fully comply with and perform the conditions of the act of the Legislature establishing it; and the revenues of the Cornell endowment fund shall each year be paid to the trustees of the Cornell University, for its use and benefit.

SECTION 2. The Legislature shall provide for the free instruction, in the common schools of this State, of all persons between seven and twenty years of age.

ARTICLE X.

SECTION 1. Corporations may be formed under general laws. They shall not be created nor their powers increased or diminished by special act, except for municipal, literary, scientific, charitable or benevolent purposes. All such laws may be altered or repealed. The Legislature shall not authorize the consolidation of railroad corporations owning parallel or competing lines of road.

SECTION 2. Dues from corporations shall be secured by such individual liability of the corporators, and other means, as may be prescribed by law.

SECTION 3. The term corporation, as used in this article, shall be construed to include all associations and joint stock companies having any of the privileges or powers of corporations, not pos sessed by partnerships or individuals. Corporations shall have the right to sue and may be sued in all courts by their corporate

names.

SECTION 4. The Legislature shall provide for the registration of all bills or notes issued or put in circulation as money, by virtue of any law of this State, and shall require ample security for the redemption of the same in specie. No law shall be passed autho