I do not call attention to our own reiterated legislation, to the extensive legislation of other States, and of Congress, and to the sanction given to it by the courts of other States, either for the purpose of expressing an approval of such legislation, or of dissenting from the decision rendered by the highest court of our own State; but simply for the purpose of showing, that holders of bonds issued under the authority of five successive Legislatures, and approved by three successive Executives of Michigan, had good reason to believe that they were receiving securities of value, such as their face indicated, and may justly claim, that the municipalities whose bonds they hold should be allowed and authorized to make provision for their payment.

Under the recent decision of the Supreme Court, all railroad aid bonds, issued by virtue of the various enabling acts contained in the statutes of Michigan, are void, and under present circumstances worthless; but it certainly was not the intention of the several Legislatures by which these laws were passed, or the municipalities which have made and issued the securities, to deceive the people, or to procure their money without consideration, by placing in their hands empty, worthless promises to pay. The Legislatures that authorized, and the people who voted to issue the bonds, supposed they were acting under constitutional and lawful authority.

Although there is now no way of enforcing the collection, and no legal obligation for the payment of these securities, the moral obligations of a State, and of a people, are as binding and should be held as sacred as their legal obligations; the honor of the people of Michigan, and especially of the counties, townships, and cities, by which these bonds have been issued, is directly concerned in the payment of those already sold and now in the hands of honest holders.

The credit of no State stands higher than that of Michigan, and the people cannot afford, and I trust will not consent, to have her good name tarnished by the repudiation of either legal or moral obligations.

As the present emergency could only be provided for by an amendment of the fundamental law of the State, and as constitutional amendments must first receive the sanction of the Legislature, and can only be submitted to the people at a general biennial November election, and as the refusal or neglect to take all proper and constitutional means, to enable the municipalities directly interested, to recognize and provide for their obligations, would be little less than an approval of repudiation, I could not consent by any action of mine, to withhold from the people for two years, the opportunity of making provision for their payment.

I respectfully and earnestly recommend, that an amendment of the constitution be submitted to the people at the general election to be held in November next, such as will enable the several municipalities to ratify all such railroad aid bonds as have been issued and delivered to parties in good faith.

Besides the bonds which have been used, and are now in the hands of innocent purchasers and holders, there is another and much larger class, which have been voted, made, and deposited with the State Treasurer, but not delivered to the companies for whose benefit they were designed; of these there is now in the office of the Treasurer, the sum of $3,710,875.80, which might be divided into several classes, but for present purposes I shall consider them as of two classes only:

First. Such as have been pledged to roads that are being constructed, and on which expenditures of labor and money to a greater or less extent have been made, in anticipation of the aid so voted.

Second. Such as have been regularly voted, and deposited with the Treasurer for the benefit of proposed roads, but on which no work has as yet been done.

In some cases, bonds embraced in the first of the two classes named were nearly earned by railroad companies, and had been negotiated and part of the purchase price advanced-before the decision of the Court had been rendered. It is worthy

of your consideration, whether good faith does not require provision to be made for this class also.

Whether it is desirable, or the wish of the people, that hereafter, municipalities should be authorized, upon any conditions, to aid in the construction of railroads, by donations, loans, or subscriptions for stock, may well be questioned.

While it is not to be denied that railroads, wherever they can be constructed and properly maintained, are of great convenience and service to the people, and add largely to the value of property, and while it must be admitted that by means of municipal aid they are sometimes constructed where, without such aid, they could not be had, I do not conceive it equally clear, that the principle is entirely correct, and I have serious doubts as to the propriety of its further application. It is for you in your wisdom to decide whether this question shall be placed before the people for their decision at the approaching November election.

The subjects presented for your consideration, involve principles and interests of the greatest moment, no less than the honor, credit, and prosperity of our noble State. They are not wholly outside of the past experience of the people of our own and other States; the teachings of the past should be most carefully scrutinized, and whatever tends to advance the real prosperity and credit of the State, should be adopted, while that which experience has shown to be unsafe and dangerous, should be discarded.

I submit these important matters for your consideration, with full confidence that your action will be such as will receive the approval of the people.

EXECUTIVE CHAMBER,

Lansing, July 27, 1870.

HENRY P. BALDWIN.

Mr. Riopelle presented the credentials of Charles H. Bennett, elected a member of the House from the 4th district of Wayne county, to fill the vacancy occasioned by the resignation of Hon. George W. Swift.

Mr. Bennett then came forward and took and subscribed to

the oath of office, and took his seat.

Mr. Holt offered the following:

Resolved, That 2,000 copies of the daily journal be printed for the use of the members and officers of this House.

Mr. Millington moved to amend the resolution by striking out "2,000," and inserting "2,500" in lieu thereof.

Mr. Ingersoll moved to amend the amendment by adding thereto the following: "and inserting after the word 'journal,' the words, 'containing the Governor's message;"

Which amendment was accepted, and the motion to amend prevailed.

Mr. Holt moved to further amend the resolution by inserting after the word "message," the words "and 2,000 each day of the session thereafter;"

Which motion prevailed.

The resolution, as amended, was then adopted.

On motion of Mr. Miles,

The House adjourned until to-morrow morning at 10 o'clock.

Lansing, Thursday, July 28, 1870.

The House met pursuant to adjournment, and was called to order by the Speaker.

Prayer by the Rev. Mr. Davis.

Roll called: quorum present.

Absent without leave: Messrs. Blake, Davis, Ingersoll, McKernan, Murray, Purcell, H. G. Williams, Woodard and Yawkey.

The Speaker announced the following:

LANSING, July 28th, 1870.

To the Honorable J. J. Woodman, Speaker of the House of Representatives of the State of Michigan:

I do hereby tender my resignation of the office of Representative of the 2d district of Wayne county, Michigan.

PETER TERNES.

On motion of Mr. Miles,

The resignation of Mr. Ternes was accepted.

The Speaker announced that in accordance with a resolution of the House, he had appointed Gottlieb Straub a fireman of the House.

REPORTS OF STANDING COMMITTEES.

By the committee on elections:

The committee on elections, to whom was referred the credentials of Tubal C. Owen from the 1st Representative district of St. Clair county, in place of Nathan S. Boynton, respectfully report that they have had the same under consideration, with the following result:

The law provides that the resignation of a member of the House shall be made to the Speaker of the House. The Speaker informs the committee that no resignation of Mr. Boynton has been received by him. Is there then a vacancy in that district? This, as your committee understand it, is the only question referred.

Section 5, article. 4, of the Constitution, relating to members of the Legislature, says: "A removal from their respective counties or districts shall be deemed a vacation of their office."

Your committee find, by reference to the office of the Governor, that the County Clerk of St. Clair county has certified to the Governor, under the seal of the county, that Hon. Nathan S. Boynton, of the 1st Representative district of that county, has removed from said Representative district, thereby creating a vacancy in the office of Representative for that district, in consequence of which a special election was ordered by the Governor to take place on the 16th day of July inst.

Your committee have before them, in due form, the certificate of the Board of District Canvassers of said district, of the regularity of such election, and of the election of the applicant, Tubal C. Owen, to fill such vacancy. Your committee therefore respectfully recommend the adoption of the following: