Parkersburg v. Brown

On the 15th of December, 1868, the legislature of West Virginia passed an act which provided as follows, c. 118 : —

“ Sect. 1. That the mayor and council of the city of Parkersburg are hereby authorized and empowered to issue the bonds of said city to an amount not exceeding two hundred thousand dollars, for the purpose of lending the same to manufacturers carrying on business in or near the said city, in the said county of Wood. The said bonds shall run twenty years, and bear interest at the rate of six per centum per arinum ; and they shall be issued upon the recommendation- of the…