Organization appeal. Section 25. The Legislature at its first session after of courts of the adoption of this Constitution, shall provide for the organization of the Court of Appeals, and for transferring to it the business pending in the Court for the Correction of Errors, and for the allowance of writs of error and appeals to the Court of Appeals, from the judgments and decrees of the present Court of Chancery and Supreme Court, and of the Courts that may be organized under this Constitution. Canal debt. ARTICLE VII. Section 1. After paying the expenses of collection, superintendence, and ordinary repairs, there shall be appropriated and set apart in each fiscal year out of Sinking fund the revenues of the State canals, commencing on the first day of June, one thousand eight hundred and forty$1,300,000. six, the sum of one million and three hundred thou sand dollars, until the first day of June, one thousand eight hundred and fifty-five, and from that time the sum $1,700,000. of one million and seven hundred thousand dollars in each fiscal year, as a sinking fund, to pay the interest and redeem the principal of that part of the State debt called the canal debt, as it existed at the time first aforesaid, and including three hundred thousand dollars then to be borrowed, until the same shall be wholly paid; and the principal and income of the said sinking fund shall be sacredly applied to that purpose. General Sinking fund Section 2. After complying with the provisions of the first section of this article, there shall be appropriated and set apart out of the surplus revenues of the State canals, in each fiscal year, commencing on the first day of June, one thousand eight hundred and forty-six, the sum of three hundred and fifty thousand dollars, until the time when a sufficient sum shall have been appropriated and set apart, under the said first section, to pay the interest and extinguish the entire principal of the canal debt; and after that period, then the sum $1,500,000. of one million and five hundred thousand dollars in each fiscal year, as a sinking fund, to pay the interest and redeem the principal of that part of the State debt called the general fund debt, including the debt for loans of the State credit to railroad companies which have failed to pay the interest thereon, and also the contingent debt on State stocks loaned to incorporated companies which have hitherto paid the interest thereon, whenever and as far as any part thereof may become a charge on the Treasury or General Fund, until the same shall be wholly paid; and the principal and income of the said last mentioned sinking fund shall be sacredly applied to the purpose aforesaid; and if the payment of any part of the moneys to the said sinking fund shall at any time be deferred, by reason of the priority recognized in the first section of this article, the sum so deferred, with quarterly interest thereon, at the then current rate, shall be paid to the last mentioned sinking fund, as soon as it can be done consistently with the just rights of the creditors holding said canal debt. nues annu Section 3. After paying the said expenses of superin- $20,000 of tendence and repairs of the canals, and the sums approthe surplus Canal reve priated by the first and second sections of this article, there shall be paid out of the surplus revenues of the ally approcanals, to the Treasury of the State, on or before the priated to thirtieth day of September, in each year, for the use General and benefit of the General Fund, such sum not exceed- the remainFund, and ing two hundred thousand dollars, as may be required der to specific to defray the necessary expenses of the State; and the public works. remainder of the revenues of the said canals shall, in each fiscal year, be applied, in such manner as the Legislature shall direct, to the completion of the Erie Canal enlargement, and the Genesee Valley and Black River canals, until the said canals shall be completed. If at any time after the period of eight years from the adoption of this Constitution, the revenues of the State, unappropriated by this article, shall not be sufficient to defray the necessary expenses of the govern- Certain defiment, without continuing or laying a direct tax, the ciencies in the Legislature may, at its discretion, supply the deficien- the State not cy, in whole or in part, from the surplus revenues of exceeding the canals, after complying with the provisions of the $250,000, revenues of annually to be supplied venues of the from the re Canals. Loans to incorporated companies not to be re first two sections of this article, for paying the interest and extinguishing the principal of the Canal and General Fund debt; but the sum thus appropriated from the surplus revenues of the canals shall not exceed annually three hundred and fifty thousand dollars, including the sum of two hundred thousand dollars, provided for by this section for the expenses of the government, until the General Fund debt shall be extinguished, or until the Erie Canal Enlargement and Genesee Valley and Black River Canals shall be completed, and after that debt shall be paid, or the said canals shall be completed, then the sum of six hundred and seventy-two thousand five hundred dollars, or so much thereof as shall be necessary, may be annually appropriated to defray the expenses of the government. Section 4. 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 leased or com- to such company, shall be fairly enforced, and not repromised. leased or compromised; and the moneys arising from such claims shall be set apart and applied as part of the sinking fund provided in the second section of this article. But the time limited for the fulfilment of any condition of any release or compromise heretofore made or provided for, may be extended by law. Section 5. If the Sinking Funds, or either of them provided in this article, shall prove insufficient to enable the State, on the credit of such fund, to procure the means to satisfy the claims of the creditors of the State as they become payable, the Legislature shall, by equitable taxes, so increase the revenues of the said funds taxes increase as to make them, respectively, sufficient perfectly to the revenues preserve the public faith. Every contribution or adof the sinking vance to the canals, or their debt, from any source, funds in cer- other than their direct revenues, shall, with quarterly Legislature shall by equitable tain cases. interest, at the rates then current, be repaid into the Treasury, for the use of the State, out of the canal revenues as soon as it can be done consistently with the just rights of the creditors holding the said canal debt. Section 6. The Legislature shall not sell, lease, or State canals. otherwise dispose of any of the canals of the State; but they shall remain the property of the State and under its management, forever. Section 7. The Legislature shall never sell or dispose Salt Springs. of the salt springs, belonging to this State. The lands contiguous thereto, and which may be necessary and convenient for the use of the salt springs, 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 alike convenient; but by such sale and purchase the aggregate quantity of these lands shall not be diminished. Section 8. No moneys shall ever be paid out of the AppropriaTreasury of this State, or any of its funds, or any of tion bills. the funds under, its management, except in pursuance of an appropriation by law; nor unless such payment be made within two years next after the passage of such appropriation act; and every such law, making a new appropriation, or continuing or reviving an appropriation, shall distinctly specify the sum appropriated, and the object to which it is to be applied; and it shall not be sufficient for such law to refer to any other law to fix such sum. Section 9. The credit of the State shall not, in any State credit manner, be given or loaned to, or in aid of any individual not to be association or corporation. loaned. debts limited. Section 10. The State may, to meet casual deficits or Power to failures in revenues, or for expenses not provided for, contract contract debts, but such debts, direct and contingent, singly or in the aggregate, shall not at any time, exceed one million of dollars; and the moneys arising from the loans creating such debts, shall be applied to the purpose for which they were obtained, or to repay the debt so contracted, and to no other purpose what ever. Section 11. In addition to the above limited power Debts to reto contract debts, the State may contract debts to repel pel invasion, invasion, suppress insurrection, or defend the State contracted. in war; but the money arising from the contracting of &c., may he Limitation such debts shall be applied to the purpose for which it was raised, or to repay such debts, and to no other purpose whatever. Section 12. Except the debts specified in the tenth of the Legis- and eleventh sections of this article, no debt shall be lative power hereafter contracted by or on behalf of this State, unless tion of debts. such debt shall be authorized by a law, for some single in the crea work or object, to be distinctly specified therein; and such law shall impose and provide for the collection of a direct annual tax to pay, and sufficient to pay the interest on such debt as it falls due, and also to pay and discharge the principal of such debt within eighteen years from the time of the contracting thereof. No such law shall take effect until it shall, at a general election, have been submitted to the people, and have received a majority of all the votes cast for and against it, at such election. On the final passage of such bill in either house of the Legislature, the question shall be taken by ayes and noes, to be duly entered on the journals thereof, and shall be: "shall this bill pass, and ought the same to receive the sanction of the people?" The Legislature may at any time, after the approval of such law by the people, if no debt shall have been contracted in pursuance thereof, repeal the same; and may at any time, by law, forbid the contracting of any further debt or liability under such law; but the tax imposed by such act, in proportion to the debt and liability which may have been contracted, in pursuance of such law, shall remain in force and be irrepealable, and be annually collected, until the proceeds thereof shall have made the provision herein before specified to pay and discharge the interest and principal of such debt and liability. The money arising from any loan or stock creating such debt or liability, shall be applied to the work or object specified in the act authorizing such debt or liability, or for the repayment of such debt or liability, and for no other purpose whatever. No such law shall be submitted to be voted on, with |