Kommentar zum Gesetz über eine Kriegsabgabe von Vermögenszuwachs und zum Gesetz über eine außerordentliche Kriegsabgabe für das Rechnungsjahr 1919 vom 10. September 1919

Die Textilindustrie sämtlicher Staaten

Bibliographic data

Monograph

Identifikator:: 1688114769

URN:: urn:nbn:de:zbw-retromon-105106

Document type:: Monograph

Editor:: Davis, Trietsch

Title:: Handbuch über die wirtschaftlichen Verhältnisse Marokkos und Persiens, sowie ihrer Nachbargebiete

Place of publication:: Berlin

Publisher:: Gea Verl.

Year of publication:: 1910

Scope:: 174 Seiten; Illustrationen

Digitisation:: 2020

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Teil I. Marokko und seine Nachbargebiete: Algerien Tunesien Spanisch-Nordafrika

Collection:: Economics Books

48 THE FISCAL PROBLEM IN MISSOURI fully guarded and that indebtedness should be incurred only under certain narrowly prescribed circumstances. Section 44, Article IV, of the Constitution, in its original form,! provided that the General Assembly shall have no power to authorize the contracting of state indebtedness, except in the following cases: First, indebtedness may be incurred in renewal of existing bonds, that is, for refunding purposes, when resources in the sinking fund or otherwise available do not permit their retirement at maturity. This provision by itself cannot result in the incurring of any addi- tional indebtedness. Second, indebtedness not to exceed $250,000 for any one year may be incurred in the event of an unforeseen emergency or casual deficiency of the revenue. Such temporary liability can be created only on recommenda- tion of the Governor and must be paid in not more than two years. Third, the General Assembly is given constitutional authority to submit an act to the electorate providing for the incurring of indebtedness not to exceed $250,000 for any one year. The Act must provide for a tax sufficient to meet interest and principal payments, the latter to extend over a period of not more than thirteen years. A two thirds ma- jority vote is required for ratification. These constitutional restrictions are among the most severe found in state constitutions in the United States. It is obvious that the current practice of financing state developments through borrowing could be introduced only after Section 44 of the constitution had been duly amended. Before considering the amendments of 1920 and later years, other limitations that have been a part of the fundamental law since 1875 should be mentioned. Section 45? of the constitution provides: “The General Assembly shall have no power to give or to lend, or to authorize the giving or lending of the credit of the State in aid of or to any person, association or corporation whether municipal or other, or to pledge the credit of the State in any manner whatsoever, for the payment of liabilities, present or prospective, of any individual, association of individuals, municipal or other corporation whatsoever.” The origin of this section is closely linked with the period in Missouri’s 1 As approved October 30, 1875. 2 Article IV,

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