The Principles of Bond Investment

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H. Holt, 1911 - Bonds - 551 pages

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Page 159 - Any county, city, school district, or other municipal corporation, incurring any indebtedness as aforesaid, shall, before or at the time of doing so, provide for the collection of a direct annual tax, sufficient to pay the interest on snch debt, as it falls due, and also to pay and discharge the principal thereof, within twenty years from the time of contracting the same.
Page 177 - It shall be the duty of the Legislature to provide for the organization of cities and incorporated villages, and to restrict their power of taxation, assessment, borrowing money, contracting debts, and loaning their credit, so as to prevent abuses in assessments and in contracting debt by such municipal corporations...
Page 135 - Any failure to fulfil its undertakings would be an open violation of public faith, to be followed by the penalty of dishonor and disgrace ; a penalty, it may be presumed, which no State of the American Union would be likely to incur.
Page 550 - Immigration: And Its Effects Upon the United States By PRESCOTT F. HALL, AB, LL.B, Secretary of the Immigration Restriction League. 393 pp. $1.50 net; by mail, $1.65. " Should prove interesting to everyone. Very readable, forceful and convincing. Mr. Hall considers every possible phase of this great question and does it in a masterly way that shows not only that he thoroughly understands it, but that he is deeply interested in it and has studied everything bearing upon it.
Page 17 - Dollars gold coin of the United States of the present standard of weight and fineness," with interest from date at the rate of four per cent.
Page 204 - And wherever there shall be several political divisions or municipal corporations covering or extending over the same territory, or portions thereof, possessing a power to levy a tax or contract a debt, then each of such political divisions or municipal corporations shall so exercise its power to increase its debt under the foregoing eight per cent, limitation that the aggregate debt over and upon any territory of this State shall never exceed fifteen per centum of the value of all taxable property...
Page 135 - ... this letter with the expression of an opinion of a more general nature. It is, that I believe the citizens of the United States, like all honest men, regard debts, whether public or private, and whether existing at home or abroad, to be of moral as well as legal obligation ; and I trust...
Page 236 - The result is a conviction that the states have no power, by taxation or otherwise, to retard, impede, burden, or in any manner control the operations of the constitutional laws enacted by Congress to carry into execution the powers vested in the general government.
Page 209 - ... said bonds for their redemption, by raising annually a sum which will produce an amount equal to the sum of the principal and interest of said bonds at their maturity.
Page 382 - reclamation fund, to be used in the examination and survey for and the construction and maintenance of irrigation works for the storage, diversion, and development of waters for the reclamation of arid and semiarid lands in the said States and Territories...

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