Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1822-03-05
RICHMOND. MARCH $, I8e2.
PIRGLNlA LEGLSL.4T'UKE.

-aHlcnu TIE act, entitled an act, concerning
the Monongala Navigation Company" was
read the Sd time and passed.
"A bill appointing commissioner tn attend
the Legislature of Kentucky, and for other
purposes" was on Mr.. Sherrard's motion,
committed to The committee that brought
il in.
An cngrossed bill " directing the payment
al sum of money To the widow Of William
Dabncy, deceased" was read the Sd time and
passed.
Mr.. Cs!Gin moved for leave TO bring in
MI, the object OF which WINS to authorize the
T.. and ID. OF the literary fund to loan to ndi-
Viduais on good landed and personal security
the surplus principal of the fund. He said
there would he during the present year $780,
GOO which ought to be vested in some pro-
ductivc fund. He was satisfied of the mpro-
prlety olvestng il in the stock Of the state
Banks-gnverpment securities could not be
HAD, and United States Bank stock was too
Inuch above par, and yielded too small an
interest. individuals would be willing TO paw
six per cent, and make the fund entirely Sc
cure.
Mr.. Graves advocated the motion.
Mr.. Hdruie was unwilling tn lend the mo-
ney exclusively To individuals and thought
the stock of the State Banks would he iu-
dlciots inyestmcnt--it could he purchased
beto,c par, and the changes which might he
expected IN the commerce of the country
would, probably, enable them TO pay better
dividends.
MI. Minor was in favor of the proposition.
Iie referred Ia the money as idle and unpro-
ductve, and thought it probable the Banks
would not pay an interest equal to the value of
the money, and contendrd that the L. Fund
heif1 already more stock in the Banks than il
ought to hold
,s,,l,i It'll 10,
thorIslnS the p. s. ID. of the l.. Fund to open
grand shaving shop for the state of Virgin
IL. lie feared that by defective and prior
deeds ut trust, &c. sc. the commonwealth
would lose the money.
MIR. B!ackburn did not wish, to s,.e the fund
dispersed over the state nor did he wish, by
any vote, To say that he dstrnstcd the Banks,
when they were III truth solvent, and occu-
pied snch high ground as 10 credit and stability,
In time of war sthey had been usefuI--they
had lent the government Immense sums OF
n'"ney-'nd had, as II were, fought the bat
ties of the coun'rv.
Mr.. Griffin explained that his object was
merely To extend to the p. and d. the a.Lior-
ay To loan to individuals and that it would
be their duty to see that the title of property
was unqnestiOnab!e before they lent the money
on ". III the money remained uninvrsted,
there would bea deficiency in the revenue of
the fund.
The House refused the leave.
Mr.. Epps said he was opposed TO the Uni
Fersiiy rom the commencement, aud to the
policy which had been pursued in relation to
the Literary Fund.-but that there remained
IN the treasury $4,000, which was i'm dispute
between that fund ard the commonwealth
which he was willing TO appropriate 10 the
University, and moved resolution granting
leave To bring in ii bill for that purpose
Mr.. .'fdNOry, of Ii. remarked that he had
been opposed on constitutional ground In the
course which the Senate had pursued in at
tempting TO do SOM, thing for the University
ny way ofdmeadment,tO a bill from that House.
But he was not hostile to the University, and
should vote iof the leave
MIR. Crunp, of c. explained the error upor
which he sad the present proposition was
hottomed, and made a statement 10 show tina
The sum was only $4,000 He was prepared
he SAID, tn vote the money, either out of the
Treasury Or from the Literary Fund
nlr. Boiling, of Il. said he was the friend o
The University and of the Primary Schools
But he would not vote cent 10 the former
until 1t went into operation, unless gentlemen
could show That the money was Indispensable
necessary. By the report of the rector ant
VISITORS, II appeared they had money enough
I" IinlsiI the buildings which were begun.
Mr.. B1dchbWn was opposed to the leave
lie did not like the quarter from whence tn,
proposition came. On yesterday the gentle
men had voted against every proposition il
iaror of the University and to-day, they are
exceedingly generous. He moved to lay tn,
resolution on the table, until The fate of The bill
then before the Senate was known.
Mr.. Cr,tmp explained the course he had
pursued. He was friendly TO the Unversit,
upon its own intrinsic lnerits-but he would
rot connect it with the primary schools, an,
whenever it was in such bad company n
should be opposed TO it.
Mr. EPps also explained He was oppos
cd to the organization of the Literary Fund
&c. The money in the Treasury was total
'inproductivr. and could not he profitably in
vested He thought it better that the Univer
sity should have il, than that it should remain
SO.
Tb" House refused TO lay the resolution OIL
the iable--it was then ncgdtired without
count.
A message was received from the Senat
that they had receded from the 9Th amend
ment to the bill concerning tine Literar,
Fund.
MIR. PaitsSO1, of A. asked for leave to brin
in bill 10 relinquish to the rector and visitor
of the University, any claim which the state G
Virginia may have on the u. States govern
nlent for interest on advances Of money dur
ing the late war, not exceeding the sum {
100000.
MIR. Biackbin7 advocated this leave.
Mr. HoiLiman had voted against every pro
position in favour Of the University, but cor
Cured in thu object ofthe present motion.
Mr.. Griffin made statement TO show th
beNeft which might result to the H. Funt
from adopting the proposed measure.
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