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Updated: May 7, 2025
If after the passing of such a measure the Magistrates should, for the protection of the people, refuse the renewal of a license, the holder of that speculative public-house investment would be by law guaranteed against loss. He would thus no longer need to insure himself against the risk of non-renewal, for the State would have turned this annual license into a freehold property.
Nine years of his life were passed at Constantinople as a hostage for the Servian nation, guaranteeing the non-renewal of the revolt; no slight act of devotion, when one considers that the obligations of the contracting parties reposed rather on expediency than on moral principles.
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