Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1816-12-10
RICHMOND. DECEMBER 10, 1910.
VIRGINIA LEGLSLAyURE.
HOUSE OF DELEGATES.

| 23.--Seyeral of the gentlemen who were IN tL-
| minority, admitted that stronger case coulI
! not be brought before the legislature that ,ht
1 man who could thus act was "A rionstcr-the>
| confessed that they should be pleased If fhs
| BIZ could pass but that scruplcs of cc,,sricnc,
| must prevent their voting for it--Mcssrs bod
| bridge, Colsfon and Thompson (of FL couter.
| ded that II was not in the power of the I.egis-
| lature TO put asunler those whom God had
| Joined together"-AIr. Gray (of Monroe) lid
not carry his scruples 80 far, contcndins tina;
| nothihg could breaA the marriage contract bat
| (Tdnd III the making oft.
ni The House then took up the Suspension
MIR. Lane made some remarks in explanation
of those lie hail made on FtiIaN--vi,ieh v-cr,.
replied TO by MIR. Dod,lriige
Before the question was put, Mr.. Chamber
layne moved the reading of the 9th Rule of the
House which went TO mterJict any member
rom Votins on a question, i'll which he was di-
fectiy ntere,ted-Alr. G.. commended that every
ihen,Der VINO wa. stakeholder, was in this
predcament, aud ought not therefore to yote
on The question before the House.
some discussion arose on this idea, which was
supported by Nlessrs. Chamberlayne * Black
burn; y opposcdby MessrS. Mercer (ofI.1 An
thonN, Marshall, Robertson (of r. Smvth and
lncker~.t the lattercontendng, that this very
question had been settled by Il decision al some
former session, that a stakeholder was not pre-
Guided from voting 4; that besides the interest
was much too minute and remote to affect his
vote that upon that ground, no member could
Vcte on the Execution law, as every man was Ell
thcr creditor or debtor nor, on a tax upon
land ; and III stakeholder were excluded so
might every man who had bank note in his
pocket-Ihe gentlemen on the other side con
,shneu 'hat TINS case was much stronger than
thai OF land tax, because the last was rcncral
affecting almost every man in the community
whereas the proportion of stockholders wasuot
more than in every 1000 that. surely. every
stakeholder, who had been in the habit of re-
ceiving large dividends would feel much infer
wi tri IL, L.
hands against these dividends The Speaker was
OF opinion, that "A stakeholder might vote under
this rule OF the House-<o member, that we
saw, left his seat in consequence of it,
The question was then taken on Mr.. Bakers
amendment 10 Mr.. MERGERS amendment
(Which goes to REPEAL the law of the last Winter
absolutely and ,ritt,oUt condition. was deci-
ded by the call of the ayes aud navs 1t was
determined III the negative, Ayes ~, Nays
1871.
The question was then put ON Mr. Mcrcer's
northumberland goes to suspend the law
TN the 10th OF February, or such later dav, as
Congress may defer its own resolution. On mr.
ud'ShaHS motion, the ayes and nays were call.
ed And the amendment was determined in
the negative, Ayes 73, NaysqI
Mr. Smith then with view of saving the
Interests of the State from any hazard) moved
10 amend the LIST Section of the original bin 40
as 10 provide that the resumption of specie nav
ments he suspended until che ist of January
ISIS, unless the majority of the chartered banks
pay specie ga the !si of next July, which fact
is to be declared by Proclamation ofthe Co
vernon.
This motion gave rise to considerable dis
cussion.
Mr.. Doddridge called for the ayes and noes.
saying he had not been very troublesome in
that way; but he would as lief exhaust the al
tention of the House, i'll that way, as BY receiv-
ing nu9atOry prOpoSitions-that they had hi
therto legislatcd on the idea Of net raposine ,,n
bounded confidence in Bank DirectorsEbut
now, II seens, their confidence was to be trans
ferred from Bank Directors to the Executive
This amendment was supported bv Messrs
Smyth, Hay, J thompson (ofT lard Baker-and
opposed By Messrs. Doddridge Scott. Mercer
of ~ and Tucker-The former confend;n@
that all the Executive would have TO do, would
be 10 proclaim fact thatthc Northern Banks
might. and probably would, pay specie on the
LIT Of July; but that if they did not, the banks
of Virginia would he compelled at all events
to pay specie, and run all the risks ofdoine II
on that DAY. unless some provision like this
WAS engratted into the bill-and that the IRE
sent state of the currency was only to he cured
by a simultaneous movement of the PRINCIPAL
banks-rhe latter protested against thus
attaching our banks to those of the North that
our pride as well as interest forbad our con
senting TO the northern banks legislatinsr for
us--tlat the whole commercial world was con
nectcd together, and five waited till the north,
eIn banks resumed their payments. why not
also wait upon those of ENGLAND that tbe
true reason Why the LIST of July had been seIcc
ted, was not so much that the northern
banks were 10 pay specie on that dav. as
that the last instalment of the National Rank
fell due on that day-it was asked whether a
majority of banks, or of baking capital was
contemplated by this resolution i-and whether
a majority of banks was TO decide against paw
ing on the LIST of July, although the mass of
capital should really be in favor oft ?-itwas
also urged that the law would be inefficient in
making the banks prepare for resumption
wncn that resumption was TO depend on such
remote CONFERENCE.-THE question was 10
cidcd by ayes and noes and determined i'm the
negative-Ayes 80, Nays ~
MIR. Tucker moved to change the dav from
the first of July to the first of August which
was opposed by MIR. DOddridgc, and Lest
without u division. The ground assigned by
the mover, was, that The Directors of the Natl
al Bank might grant 20 days for paving the
last lBstalnlent, and MIR T. wished to compcI
the StockbOldersto obtJin the specie elsewhere
than from our vaults
Mr.. Mercer moved TO strike the LIST Of JuIv
and insert the 10th OF February. This. H.
SAID, was not the same proposition, as ne had
previously made, and had been ncnativcd. be-
cause the present amendment wouldnot attach
lls IN any respect to the policy Of CONGRESS
the ayes 4 noes were called & the question
determined lnthe negative Ayes -. NAYS IO3.
Mr. ChamberIayne moved 10 add two pc,y
sections to the bill. one Of wliirh went To dcbar
the banks from the benefits OF this suspension.
unless they paid the holders of all their notes
hencefOrth 60 bcissucd, and of all their notes
now ~ circulaiion. to be computed from the LIST
Gdy OF January. 1917 six IT, cent d. aDuun
Tho other went 90 provide thatthc bank was
not to be subject 10 this payment Of interest
- TOR longer period than that on which, with
good faith, aud in compliance with the terms
OF ", charter, u Shall actually resume specie