Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1813-02-04

he resort has been made and 1t is incumbent
m the Legislature TO fulfil the expectations it's
Is urance have authorised Regard to this oh
igatloh, and the reputation of sincerity, would
require OF 1t such scoursc though that course
We're not required, as 1t is most imperativcly,)
by paramount considerations of public du,y.
With respect to the form OF the aid recon- |
nended to be profiered, that contemplated by |
the origin resolution, is deemed the best |
The AUGMENTATION of IFS naval means, (from
the desiei,ncy oE ia sc means, and the charac.
lev OF the war, is IN object second To none in
Importance to the general government. To
which it IS to b. added that, whilst there. exis.
strong objections to mere pec,misrv loan. ir
the money be to be borrowed, the application
Ut IT IN building II vcss Of war, rs IS propos
ed, viii, at the same time that it fixes the des
tination of the aid 10 the most valuable object,
afford The IN, ans of limiting and adapting IFS
an QUIT, to the m asures Of the ga e
The resolution wncii las been referred 10
II, meets, therefore, the concurrence OF the
| committee; both as respects the principle of
proEering an aid to the general government.
ard as respects the form and mode of applica-
ton of that aid.
Your Committee have in discharge of The
further duy assigned them, procured certain
| information on he subject of the prac,csbility
| OF obtaining money by loan, which they ask
permission to submit. Tie information sllud
ed to, will be found contained in two etters
| received from the Presid. MT of the Bank Of
| Virginia and from coH,siittee ofthe Farmers
| Bank OF Virginia, in reply to enquiries address.
| ed, by order OF this committee. IN refcrc c..
| to the letter received from the President of
that Bank, it will he perceived, that loan of
s 100000 may he obtained from The Bank of
| Virginia, at the ordinary legal interest either
by contract, or an pledge ofthe stock possess
ed by the state in the institution. The stated
sum of S 100000 was fixed on, it is believed.
| in reference to the states interest in the insti-
tuition, to the amount OF which, disposition
| seems 10 have be en- entertained, to concede tn
the state claim to creditiwiih the Bank, in con-
iormity with the permission INDUCED, and u
sage obtaining in the of ordinary stock
| holders. nor is i doubted, but that any sum
not very considerable, which may be required
| by the Legislature for specific object, in adj
dition TO that OIL, red to be lent By the Bank
can be obtained from this source on the same
terms. From the Farmers Bank a sum. vet
| larger than that obtained from the Bank of
| Virginia, may be had at legal interest. on Ger
tain conditions, sta cd in the letter of the com
mitlce of that Bank, which accompanies. &to.
| gether with that address TO the Banks on be
| half of this committee, and the answer thereto
| from the Pr siClent OF the Virginia Bank, forms
part ofthis report Upon review of both branch
es ofthe subject referred, to your commit
| tee;
| J. Resolved, as it's opinion, that the sum Of
| dollars ought to be appropriated hv
| law, for the purpose of loan, TO be offered to
| the government of the United States, to be an
| piled in the building of ship of the line, OF.
| other vessels of war, for the use of the United
| States.
| 2. Resolved, That, for providing the means
OF meeting the appropriation afcresait, au.
| ( GRITTY ought 10 be given TO the Executive of
| (orn ale 20 -, NJ
| with the President and Directors of the Bank
| o. virgins, tor loan OF dollars ;
| rrnvided, That the interest on such loan do not
| exceed per centum per annuYn, paw
| able quarterly; and the principal of such loan
| he not PAYABLE in shor,er time than
| years, from the date of tie contract
On Mr.. Archer's motion,
Ordered, That the said report, with the do
cuments accompanying the same, be laid upon
the table.
THURSDAY, Jan. 28th, 1915
The report of the committee, on the subject
OF loan from tbs commonwealth, to the gro
| vernmentof the Urited States, was taken IN
| on Mr.. Archer's motion
And thereYpon, the original resolution,
| (Which was referred to the said committee
and upon which their report was founded, be
ing uAder consideration the words, &c to be
applied IN the building of ship of the line, or
United
States were on MIR. Barbour's motion strick
| en- out so that the said resolution as amend
| ed, as follows:
hesoNed, mat The sum of dol
lars be appropriated by law for the purpose of
loan to be offered on behalf of this common
wealth TO the government fthe United States
the house, being engaged in considering
the said amended resolution;
On melton,
Adjourned until n
clock. .
Friday, January 29th, 1878
On motion of Mr. Upshur
The resolution, yesterday under considerati
on tha' the sum OF dollars be APP.
propriated by law, for the purpose of a loan to
be offered on behalf of this commonwealth 10
the government of the United States" was "a.
ken up and considered:
And the question, being put thereon. was
9S
On motion of Mr.. Hooe, seconded by Mr.
Scott, (of Fauquier,)
Ordered, That the Ayes and Noes, npon the
sad question, be inserted in the Journal.
he names Ut the gentlemen who voted in the
affirmative are, Messrs. Stevenson. (Speaker.l
Branham, Garth, Archer, Tucker, Lyncb, Cole.
man, Tyler, Stanard, (of Ches,crfeid,) Cheat
ham, Turner, Pegram Lively, Armistead, Cof
Elizabeth Chy,) Muse, Jones, (of Essex Hunt.
er, Waugh, Cufrin, COT Fluyanna,) Payne, VIII
liains, (of Frederick Jones, (of G loucester.
Curd, Under wood, McLin, Avery, Anderson, (of
lhnover,) Winston, Prosser, Frayscr. III ,irston.
Johnston, GOT l-le OF Wight, Boykin, Hankins. |