be liable for the indebtedness of said corporation to the amount of their sto subscribed and unpaid and no more, excepting that the stockholders of enrporations or joint stock companies conducting the business of banking sh be individually liable equally and ratably and not one for another. for the benefit of the depositors of said bank, to the amount of their stock, at the par value thereof, in addition to the par value of such shares.23

SEC. 4. No person's property shall be taken by any corporation, under authority of law, without compensation being first made or secured in suf manner as may be prescribed by law.

SEC. 5. Acts of the Legislative Assembly incorporating towns and citie shall restrict their powers of taxation, borrowing money, contracting deta and loaning their credit.

SEC. 6. The State shall not subscribe to or be interested in the stock any company, association or corporation.

SEC. 7. The Legislative Assembly shall not lend the credit of the Stai nor in any manner create any debt or liabilities which shall singly or in the aggregate with previous debts or liabilities exceed the sum of fifty thousal dollars, except in case of war or to repel invasion or suppress insurrection to build and maintain permanent roads; and the Legislative Assembly sh not lend the credit of the State nor in any manner create any debt or liabilitie to build and maintain permanent roads which shall singly or in the age gate with previous debts or liabilities incurred for that purpose exceed tw per cent of the assessed valuation of all the property in the State; and eve contract of indebtedness entered into or assumed by or on behalf of the St in violation of the provisions of this section shall be void and of no effect SEC. S. The State shall never assume the debts of any county, town other corporation whatever, unless such debts shall have been created repel invasion, suppress insurrection or defend the State in war.

SEC. 9. No county, city, town or other municipal corporation, by a ti of its citizens or otherwise, shall become a stockholder in any joint st company, corporation or association whatever, or raise money for, or loan credit to, or in aid of, any such company, corporation, or association.

SEC. 10. No county shall create any debts or liabilities which shall sig or in the aggregate with previous debts or liabilities exceed the sum of thousand dollars, except to suppress insurrection or repel invasion or to b and maintain permanent roads within the county; and debts for perm roads shall be incurred only on approval of a majority of those voting on question, and shall not either singly or in the aggregate with previous dea and liabilities incurred for that purpose exceed two per cent of the ased valuation of all the property in the county.25

SEC. 11. Unless specifically authorized by a majority of the legal vie voting upon the question, neither the State nor any county, municipality, dis trict or body to which the power to levy a tax shall have been delegated sal in any year so exercise that power as to raise a greater amount of reven for purposes other than the payment of bonded indebtedness or interest there than the total amount levied by it in the year immediately preceding for i poses other than the payment of bonded indebtedness or interest thereon Fle six per centum thereof; provided, whenever any new county, municipality other taxing district shall be created and shall include in whole or in jer

23 Amendment proposed by the legislative assembly of 1911, ratified on November 5, 1912, and declared effective on November 29, 1912. 24 Amendment proposed by initiative petition filed July 2, 1912, ratified on Nover ber 5, 1912, and declared effective on November 29, 1912.

Section 10 has been amended twice; the first amendment was proposed b initiative petition filed July 7, 1910, ratified on November 8, 1910, and declared effe ive on December 3, 1910; the second amendment was proposed by initiative petitie filed July 2, 1912, ratified on November 5, 1912, and declared effective on Novembe 29, 1912. The text of the amendment of 1910 is as follows: $ 10. No county shall create any debts or liabilities which shall singly or in 1 aggregate exceed the sum of five thousand dollars, except to suppress insurrection. (* repel invasion, or to build permanent roads within the county, but debts for perma? ent roads shall be incurred only on approval of a majority of those voting on fquestion.

operty theretofore included in another county, like municipality or other ing districts, no greater amount of taxes shall be levied in the first year either the old or the new county, municipality or other taxing district on any property included therein than the amount levied thereon in the ceding year by the county, municipality or district in which it was then luded plus six per centum thereof; provided, further, that the amount of increase in levy specifically authorized by the legal voters of the State, of a county, municipality, or other district, shall be excluded in determining amount of taxes which may be levied in any subsequent year. The prohibition against the creation of debts by counties prescribed in tion 10 of Article XI of this Constitution shall apply and extend to debts. eafter created in the performance of any duties or obligations imposed n counties by the Constitution or laws of the State, and any indebtedness ited by any county in violation of such prohibition and any warrants for other evidences of any such indebtedness and any part of any levy of taxes le by the State or any county, municipality, or other taxing district or y which shall exceed the limitations fixed hereby shall be void.26

SECTION 1.

ARTICLE XIa.

[RURAL CREDITS.]

Notwithstanding the limitations contained in Section 7 of cle XI of this Constitution, the credit of the State may be loaned and inedness incurred to an amount not exceeding two per cent of the assessed ation of all the property in the State for the purpose of providing funds e loaned upon the security of farm lands within the State, subject to the tations herein contained.

SEC. 2. The Governor, Secretary of State, and State Treasurer shall conte the State Land Board, which Board is hereby authorized and directed ssue and sell or pledge bonds in the name of the State to be known as on farm credit bonds in an amount not to exceed said two per cent of assessed valuation of all the property in the State, and to place the eeds in the State Treasury in a fund to be known as the "Rural Credits. Fund."

SEC. 3. Said bonds shall be issued in denominations of $25.00, $100.00, 00 and $1,000.00, and shall be issued in series of $50,000.00 or multiples of. drawn to mature in not more than thirty-six years. They shall bear est at the rate of four per cent per annum and shall be exempt from axes levied by the State of Oregon, or any of its subdivisions. SEC. 4. Said State Land Board is authorized and directed to loan the ys in said Rural Credits Loan Fund to owners of farm lands in Oregon notes secured by mortgages or deeds of trust constituting first liens uch farm lands in amounts which shall not exceed fifty per cent of the › of such lands, nor $50.00 per acre on such lands, nor less than $200.00 more than $5,000.00 to any individual. If pending applications shall at time exceed the funds available, preference shall be given to loans not ding $2,000.00 in amount.

SEC. 5. Such loans shall not be made except to owners who operate and by the lands mortgaged, and shall be made only for the following pur:: (a) The payment for lands purchased; (b) the purchase of livestock other equipment, and the making of improvements which, in the judg of said Board, will increase the productivity of such lands or add to value as a farm home in a degree to justify such expenditure; and for the satisfaction of incumbrances upon such lands which, in the judgof said Board, were incurred or assumed by said applicant for the said purposes.

SEC. 6. Every applicant for a farm loan shall state clearly in his applicathe purposes for which such loan is desired, and upon its approval by the d this statement shall be deemed a part of the note or contract under Section 11 is a new section; it was proposed by initiative petition filed July 6, ratified on November 7, 1916, and declared effective on December 5, 1916.

which the loan is granted. But no failure to apply such funds to the pa poses stated in such application or enumerated herein shall invalidate a when once made, nor shall anything hereinr contained be deemed to pres any farm owner from selling or leasing lands subject to such incumbra but if he shall violate his said contract by applying the moneys borben to purposes other than those stated in his application or enumerated her or if he shall lease such lands or sell them to any person not fulfilling conditions and purposes provided for herein, said Board is authorized directed to require the repayment of said loan upon six months' notice. said note or contract shall contain a clause providing therefor.

SEC. 7. Such loans shall be repaid with interest accruing in semi-a or annual installments on the amortization plan, such installments being tr at such sums as will cover the interest rate and will liquidate the det a period to be agreed on between said Board and the applicant, such per to be not less than ten nor more than thirty-six years; but any debtor liquidate any part or all of his indebtedness in amounts of $50.00 or muit thereof upon any amortization payment date.

SEC. S. The rate of interest on loans shall be five per cent per a provided that in case any series of said farm credit bonds is sold at an aven of less than par, the Board may charge upon such farm loans as are a from the proceeds of the series so sold below par a rate of interest in e of five per cent, but which shall not exceed by more than one per cent rate which the State must pay for the funds actually obtained from disposal of its said bonds. The Boards, however, shall require each app to pay an initial charge of one per cent of the loan granted, the mi charge to be $10.00, to cover the cost of appraisal and examination of

SEC. 9. All surplus funds accruing from the operation of the system rural credits herein provided for, after paying interest accruing on the f said bonds, and all operating and other expenses arising from the ad tration of said system of rural credits, shall be placed in the State Tres and become a part of a fund to be known as the "Rural Credits Ree Fund." Said Rural Credits Reserve Fund shall be loaned on farm lab the manner herein provided for the Rural Credits Loan Fund, and the inte accruing from loans made from said Rural Credits Reserve Fund sha added to it and become part of it. The said Rural Credits Reserve shall be irreducible except that it may be drawn upon to reimburse the for loss incurred in the administration of said system of rural credits,

SEC. 10. The Legislative Assembly shall provide in such detail as i deem advisable for the carrying out and administering of the provision this amendment and shall provide adequate safeguards against the such loans as an aid to the purchasing and holding of lands for part of speculation. Such safeguards shall include clear definitions of the "operate" and "occupy" used herein. In the absence of such legislation. subject to the same after its enactment, the State Land Board shall pre to administer said system of rural credits under rules and regulations vided by itself, but subject to the provisions herein contained.

SEC. 11. The provisions of the Constitution and laws of Oregon in cas with this amendment are hereby repealed in so far only as they conflict with. The provisions of this amendment shall be self-executing, and take effect and be in operation sixty days after their approval and d by the people of Oregon.27

ARTICLE XII.

STATE PRINTER.

SECTION 1. Laws may be enacted providing for the State printing binding, and for the election or appointment of a State Printer. who have had not less than ten years' experience in the art of printing. 18 State Printer shall receive such compensation as may from time to tim *

27 Article XIa is a new article; it was proposed by initiative petition filed Jh § 1916, ratified on November 7, 1916, and declared effective on December 5, 1916.

vided by law. Until such laws shall be enacted the State Printer shall elected and the printing done as heretofore provided by this Constitution the general laws.28

ARTICLE XIII.

SALARIES.

SECTION 1. The Governor shall receive an annual salary of fifteen hundred ars. The Secretary of State shall receive an annual salary of fifteen hun1 dollars. The Treasurer of State shall receive an annual salary of eight dred dollars. The Judges of the Supreme Court shall each receive an ual salary of two thousand dollars. They shall receive no fees or perites whatever for the performance of any duties connected with their ective offices; and the compensation of officers, if not fixed by this Conition, shall be provided by law.29

ARTICLE XIV.

SEAT OF GOVERNMENT.

SECTION 1. The Legislative Assembly shall not have power to establish ermanent seat of government for this State. But at the first regular on after the adoption of this Constitution, the Legislative Assembly shall ide by law for the submission to the electors of this State at the next ral election thereafter, the matter of the selection of a place for a anent seat of government; and no place shall ever be the seat of governunder such law, which shall not receive a majority of all the votes on the matter of such election.30

SEC. 2. No tax shall be levied, or money of the State expended, or debt acted for the erection of a State House prior to the year eighteen hundred sixty-five.

SEC. 3. The seat of government, when established as provided in Section all not be removed for a term of twenty (20) years from the time of establishment, nor in any other manner than as provided in the first on of this article. All the public institutions of the State not located where prior to January 1, 1917, shall be located in the county where the of government is, excepting when otherwise ordered by an act of the slative Assembly and is ratified by the electors of the State at the next ral election following such act, by a majority of all the votes cast on question of whether or not such act shall be ratified.31

ARTICLE XV.

MISCELLANEOUS.

SECTION 1. All officers except members of the Legislative Assembly shall their offices until their successors are elected and qualified.

SEC. 2. When the duration of any office is not provided for by this Contion, it may be declared by law; and if not so declared, such office shall eld during the pleasure of the authority making the appointment. But

• Amendment proposed by initiative petition filed February 3, 1906, ratified on 4, 1906, and declared in force on June 25, 1906.

By an act of the session of 1905, the salary of the governor was fixed at $5,000 nnum; the salary of the secretary of state at $4,500; the salary of the state urer at $4,500; and the salary of the attorney general at $3,600. In 1907 the ies of the judges of the supreme court were fixed at $4,500 per annum, and in the salary of the state printer was fixed at $1,800.

By virtue of an act approved November 19, 1860, the question of the location of eat of government was submitted to the electors at the general election of June, and at every general election thereafter until "some one point should receive a rity of all the votes cast on the question." At the election of 1862 no point rea majority of the votes cast. At the election of 1864, Salem received 6,108 ; Portland, 3,864; Eugene, 1,588; and all other points 577 votes. Salem having red a majority of 79 votes of the whole vote cast was declared the permanent of government.

1 Amendment proposed by the legislative assembly of 1907, ratified on June 1, and declared adopted on June 23, 1908.

the Legislative Assembly shall not create any office the tenure of which sha be longer than four years.

SEC. 3. Every person elected or appointed to any office under this Com stitution shall, before entering on the duties thereof, take an oath or affirmatio ⚫ to support the Constitution of the United States and of this State, and s an oath of office.

SEC. 4. Lotteries, and the sale of lottery tickets, for any purpose whatever are prohibited, and the Legislative Assembly shall prevent the same by peta laws.

SEC. 5. The property and pecuniary rights of every married woman the time of marriage, or afterwards acquired by gift, devise or inherita shall not be subject to the debts or contracts of the husband; and laws SE: be passed providing for the registration of the wife's separate property, SEC. 6. No county shall be reduced to an area of less than four hundr square miles; nor shall any new county be established in this State contain a less area, nor unless such new county shall contain a population of least twelve hundred inhabitants.

SEC. 7. No State officers or members of the Legislative Assembly sh directly or indirectly receive a fee, or be engaged as counsel, agent or at ney in the prosecution of any claim against the State.

SEC. S. No Chinaman, not a resident of the State at the adoption this Constitution, shall ever hold any real estate or mining claim, or w any mining claim therein. The Legislative Assembly shall provide by law the most effectual manner for carrying out the above provisions.32

ARTICLE XVI.

BOUNDARIES.

SECTION 1. In order that the boundaries of the State may be known established. it is hereby ordained and declared that the State of Oregon s'a be bounded as follows, to-wit:

Beginning one marine league at sea, due west from the point where forty-second parallel of north latitude intersects the same; thence northe at the same distance from the line of the coast lying west and oppo the State, including all islands within the jurisdiction of the United St: to a point due west and opposite the middle of the north ship channe the Columbia River; thence easterly to and up the middle channel of said river, and when it is divided by islands, up the middle of the widest cha thereof, and in like manner up the middle of the main channel of Snake Rive the mouth of the Owyhee River; thence due south to the parallel of latitude for two degrees north; thence west along said parallel to the place of begin t including jurisdiction in civil and criminal cases upon the Columbia River an Snake River, concurrently with states and territories of which those rug form a boundary in common with this State. But the Congress of the U States, in providing for the admission of this State into the Union, may Luna the said northern boundary conform to the act creating the Territory Washington.

ARTICLE XVII.

AMENDMENTS.

SECTION. 1. Any amendment or amendments to this Constitution may proposed in either branch of the Legislative Assembly, and if the same be agreed to by a majority of all the members elected to each of the m houses, such proposed amendment or amendments shall, with the yeas nays thereon, be entered in their journals and referred by the Secretary State to the people for their approval or rejection, at the next regular gene" election, except when the Legislative Assembly shall order a special election f

32 The supreme court in Chapman v. Toy Long. 4 Saw. 36, intimates that the treaty of 1868, Article 6, a mining regulation which forbids Chinamen from w ing mining claims for themselves or others, as well as this clause of the constitution, are in direct conflict with that treaty, but the question was not judicially passed up Hence the provisions of this section have never been enforced.