Anonymous ID: 5335ae June 2, 2024, 11:45 a.m. No.20956540   🗄️.is 🔗kun   >>6593 >>6628 >>6739 >>6869 >>6949 >>6990

Bill of Rights: Alexander Hamilton, Federalist, no. 84, 575–81

Document 7

28 May 1788

 

The most considerable of these remaining objections is, that the plan of the convention contains no bill of rights. Among other answers given to this, it has been upon different occasions remarked, that the constitutions of several of the states are in a similar predicament. I add, that New-York is of this number. And yet the opposers of the new system in this state, who profess an unlimited admiration for its constitution, are among the most intemperate partizans of a bill of rights. To justify their zeal in this matter, they alledge two things; one is, that though the constitution of New-York has no bill of rights prefixed to it, yet it contains in the body of it various provisions in favour of particular privileges and rights, which in substance amount to the same thing; the other is, that the constitution adopts in their full extent the common and statute law of Great-Britain, by which many other rights not expressed in it are equally secured.

 

To the first I answer, that the constitution proposed by the convention contains, as well as the constitution of this state, a number of such provisions.

 

Independent of those, which relate to the structure of the government, we find the following: Article I. section 3. clause 7. "Judgment in cases of impeachment shall not extend further than to removal from office, and disqualification to hold and enjoy any office of honour, trust or profit under the United States; but the party convicted shall nevertheless be liable and subject to indictment, trial, judgment and punishment, according to law." Section 9. of the same article, clause 2. "The privilege of the writ of habeas corpus shall not be suspended, unless when in cases of rebellion or invasion the public safety may require it." Clause 3. "No bill of attainder or ex post facto law shall be passed." Clause [8]. "No title of nobility shall be granted by the United States: And no person holding any office of profit or trust under them, shall, without the consent of the congress, accept of any present, emolument, office or title, of any kind whatever, from any king, prince or foreign state." Article III. section 2. clause 3. "The trial of all crimes, except in cases of impeachment, shall be by jury; and such trial shall be held in the state where the said crimes shall have been committed; but when not committed within any state, the trial shall be at such place or places as the congress may by law have directed." Section 3, of the same article, "Treason against the United States shall consist only in levying war against them, or in adhering to their enemies, giving them aid and comfort. No person shall be convicted of treason unless on the testimony of two witnesses to the same overt act, or on confession in open court." And clause [2], of the same section. "The congress shall have power to declare the punishment of treason, but no attainder of treason shall work corruption of blood, or forfeiture, except during the life of the person attainted."

 

It may well be a question whether these are not upon the whole, of equal importance with any which are to be found in the constitution of this state. The establishment of the writ of habeas corpus, the prohibition of ex post facto laws, and of TITLES OF NOBILITY, to which we have no corresponding provisions in our constitution, are perhaps greater securities to liberty and republicanism than any it contains.The creation of crimes after the commission of the fact, or in other words, the subjecting of men to punishment for things which, when they were done, were breaches of no law, and the practice of arbitrary imprisonments have been in all ages the favourite and most formidable instruments of tyranny.The observations of the judicious Blackstone in reference to the latter, are well worthy of recital. "To bereave a man of life (says he) or by violence to confiscate his estate, without accusation or trial, would be so gross and notorious an act of despotism, as must at once convey the alarm of tyranny throughout the whole nation; but confinement of the person by secretly hurrying him to goal, where his sufferings are unknown or forgotten, is a less public, a less striking, and therefore a more dangerous engine of arbitrary government." And as a remedy for this fatal evil, he is every where peculiarly emphatical in his encomiums on the habeas corpus act, which in one place he calls "the BULWARK of the British constitution."

 

Nothing need be said to illustrate the importance of the prohibition of titles of nobility. This may truly be denominated the corner stone of republican government; for so long as they are excluded, there can never be serious danger that the government will be any other than that of the people.

 

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Anonymous ID: 5335ae June 2, 2024, 11:47 a.m. No.20956549   🗄️.is 🔗kun   >>6568 >>6628 >>6654 >>6739 >>6869 >>6949 >>6990

Homebuyers Are Starting to Revolt Over Steep Prices Across US

 

(Bloomberg) – The US housing market — long crippled by an inventory drought — is finally starting to see listings rise. But now, in many places, the buyers just aren’t showing up.

 

Sellers are grappling with the fact that higher-for-longer rates are choking off demand during what’s typically the key season for the market. And more of those owners are cutting asking prices than any time since November 2022 as inventory grows stale, according to Redfin Corp.

 

“With mortgage rates rising back over 7%, the willingness of homebuyers to take a stab this season is diminished,” Ralph McLaughlin, senior economist at Realtor.com, said. “You can have high prices or you can have high mortgage rates, but you can’t have both for long.”

 

Coming into this year, the prospects of rate cuts by the Federal Reserve stirred up some optimism for a housing market that had just emerged from its worst year for sales of previously owned homes in nearly three decades. But the economy continued to roar on, diminishing hopes for interest rate cuts anytime soon.

 

“Without the rate cuts, a cold reality is settling down on the housing market,” Robert Frick, corporate economist for Navy Federal Credit Union, said.

 

Read More: Mortgages Stuck Around 7% Force Rapid Rethink of American Dream

 

Buyers are getting very little, if any, relief from high borrowing costs. The average rate on a 30-year mortgage has hovered near 7% since the middle of April. And prices have continued to climb higher. In the four weeks ended May 26, the median sale price was up 4.3% from a year earlier to a record $390,613, according to Redfin.

 

House hunters of all kinds are being squeezed out of the market. Sales of new homes — a bright spot for the inventory-constrained market — fell in April. Contracts to purchase existing homes that month slumped to the lowest level in four years. The pullback is causing listings to accumulate rather than getting matched with buyers, according to Realtor.com’s McLaughlin.

 

The spring selling season so far is “definitely a disappointment,” said Lawrence Yun, chief economist for the National Association of Realtors. “At the beginning of the year, I thought sales would increase throughout the year.”

 

https://finance.yahoo.com/news/homebuyers-starting-revolt-over-steep-143000917.html