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The first parliament was to assemble on the 3rd of the following December; and till that time the lord-protector was vested with power to raise the moneys necessary for the public service, and to make ordinances which should have the force of law, till orders were taken in parliament respecting the same.
The foundations were laid for municipal ownership of public utilities, and the initiative and referendum were adopted for all public franchises. The legislative power was vested in a board of eighteen supervisors elected at large. No other American city so dramatically represents the futility of basing political optimism on a mere plan.
Thus, Brande asserts that "A republic may be either a democracy or an aristocracy!" and proceeds to say: "In the former, the supreme power is vested in the whole body of the people, or in representatives elected by the people; in the latter, it is vested in a nobility, or a privileged class of comparatively a small number of persons."
Other revolutions have originated in immediate personal feeling, have pointed only at a few partial grievances, or, preserving the tyranny entire, have consisted only in a struggle about the persons in whom it should be vested. This only has commenced in an accurate and extensive view of things, and at a time when the subject of government was perfectly understood.
The whole power of spoken language is vested in the invariableness with which certain symbols are associated with certain ideas. If we are strict in always connecting the same symbols with the same ideas, we speak well, keep our meaning clear to ourselves, and convey it readily and accurately to anyone who is also fairly strict.
Whether they desire it to be vested in the many or the few, depends with most men upon the chance which they imagine they themselves may have of partaking in the exercise of that arbitrary sway, in the one mode or in the other. It is not necessary to teach men to thirst after power.
At length, on the motion of several members, the Assembly decided, that in the king's absence, all power should be vested in themselves, and that their decrees should be immediately put in execution by the ministers without any further sanction or acceptance. The Assembly seized on the dictatorship with a prompt and firm grasp, and declared themselves permanent.
It shall be my study to recommend such constitutional measures to Congress as may be necessary and proper to secure encouragement and protection to the great interests of agriculture, commerce, and manufactures, to improve our rivers and harbors, to provide for the speedy extinguishment of the public debt, to enforce a strict accountability on the part of all officers of the Government and the utmost economy in all public expenditures; but it is for the wisdom of Congress itself, in which all legislative powers are vested by the Constitution, to regulate these and other matters of domestic policy.
Another is like these in other particulars, but there the people govern, and not the law: and this takes place when everything is determined by a majority of votes, and not by a law; which happens when the people are influenced by the demagogues: for where a democracy is governed by stated laws there is no room for them, but men of worth fill the first offices in the state: but where the power is not vested in the laws, there demagogues abound: for there the people rule with kingly power: the whole composing one body; for they are supreme, not as individuals but in their collective capacity.
"Well," said Sam, crossing one leg comfortably over the other, "I expect to issue a half million participating preferred stock, at five per cent., and a half-million common, one share of common as bonus with each two shares of preferred; the voting power, of course, vested in the common." A silence followed that, and then Mr.
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