Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1817-01-09
Richmond. Jan. 6.
Virginia Legislature.

| MIR. Mercer. oil L.. propostu, w feia
Itien to the 6 per cent. stock to be create'
lby the state for the use of the Llterar,
lFune Banks. to add stipulation that M
principal, as well as the interest on 'hi
stock, was to be charged on the ldterdr
Fund; of course, not 20 c me out OF IN
public treasury. Agreed 10. :.
Mr.: Baker moved Ia re-commlt the oiI
ito the committee, FER The purpose III re
mo, ing certain Objectionable feature
" hich h. stated. After some discuss'o'
This motion vas lost
hir. Garnett moved new section fo'
establishing a bank in the town OF For
ROYAL, county Of Caroline. Agreed to.
Sir. Tucker moved Az amendment re
aui ing Of the president and directors o
die Literary Fund Bank OF Norfolk. t.
subscribe so COG dollars out vi the capita
icf ne said bank, Tor the bench, OF iht
iRoa soke navigation. Mr.. Pollard o,
lee ed 10 this proposition. because It made
ii imppraiire upon them IL do II. After
some conversation, Mr. Tucker withdre"
lhis amendment.
| Mr.. hambe,avne made an inefcctua
la,tetnp; to strike out 80 much 81 the bIi
las reserves a certain nuuiber Of shares o.
tie new banks to he use Ui the stale
H. protested against making the state
lpar ner in 'hrse H,JHsd CO; 0orahOns.
On Nr PoilHd's motion. u stipulation
was added, .a,iag II .hunld' b. IN TN
pGurr o tie prcsden, and directors I"
thr literary Fund Bank 10 Norfolk, &c
: subscribe dnllars of that stock e
''ihe Rr.!noke Nav.ltioa { Omyany. latel,
'iucrrpo ated b. he general assembly 81
North "a ura
I Much di,cu sioD e. sued upon motion
Of Sir. tu.iin. to snake the stuckhniders
liable n their ra'u u: capacity. in prnpor'
.iua II lie stOck 'hcy own. for ans debt
% the lark, wiri'.n 90 lay. ai'er the ren
diiion o. Judgment. The motion iai'P'..
| After s hic' tie oil va, ordr cd to De
ierggos ed. aad cad Ih.Gd tin.e, (pei.
hap ihi day
Mr. lharbe !aync then offered The Ioi
lowing re>.s3liun
/ Resolved Dy the general assembly
THAI the executive aud treasurer of this
state. in makipg appointments 10 the d,
reCtrry of the Banks in the state, De in
structed IL exclude The eIrom any per;on
whom they re.pectivey may suspect ol
being guilty.. or uho BY common fame is
charged with be,ug guilty Of usury, OF
tina, practice called shaving.
Mr E.. sad that this resolution differed
from the bill he had lately offered, IN re.
iqm,ius no test-patn- that this measu, o
might however cut up these improper
p aotices for the future, by excluding
men who ere guilt. OF them, &c.
Mr.. Smyth moved the following bv
way of substitute" Resolved, that the
governor aud council be requested. aud
thar The treasurer be instructed 10 appoint
90 pc sen a bank director whom they
shall have cause to suspect Of usu.iouS
practices
Mr. ChamberIayne hoped the gentle.
man wound agree 10 retain the word shaw
ling; "a 1t Tas notorious a distinC ti0a had
been drawn between mans lending out
his own n,oney, and employing broker
to lend II for him, in which case it was
called shaving.
81, Smy,h replied. that the executive
and Urea, could readily understand
what usUry was.
Nj. Mercer Objected to the use Of the
word instruct N relation TO the Executive
a CO ordinate departHent Of the govern
ment During the late war, at period
Of the greatest aa:m, when Admiral
Warren's arrlya! was anrouEced. a con-
mittee Of that House made a report fur
in.tructiHs the Executive TO call out the
militia. lie had opposed the Resolution
ia that shape, and ths House supported
him III the objection he hal taken.
MIR. CbamberlayEe proposed to change
The word +" instructed" into /" reques,
ed"
Mr. Mercer eonteRdrd. that being
the Electors of the Executive. request
from them would nearly be ne sane as
AL instruction lie az unwilling 10 le
giSlate On this subject, to in erfete with
the direction of the banks. II the off.
cer,, to whom was delegated tie power
Of appointing the directors abused that
pJwer. they might be punished b removs'.
dds was the Proper check. He also 3D.,
jected TO the terms Of the resolution \
=" Suspected of being guilty." like tho
victims who were executed on TIE Ian :
po,t, at Paris Cause TO suspect :" Mol
formal evidence required! None on
oath
Mr.. Chamberlayne moved to amend
the original resolution. by striking out
:. and Treasurer Of this state, in making