Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1824-03-02

put into operation. His proposition was re.
jecfed.-lt wax, however, renewed by his
friend from Norfolk, and again rejected
Notwithstanding all this. il had been said by
gentlemen that they were deceirtd. We are
Told that each appropriation was expected ia
he 'hr last, and that under assurances it WAS SO
they bad been induced To Ga step by step and
to "Xcscd their own limits by ailuremenis and
deception. Mr.. G. said he would hardly trust
himself 10 reply. To these insinuations. He
would not characterize them by any nane-
hht ne would say that The friends of the Uni
versi,y had always acted openly-th-y had
candidly exhibited their estimates, in some Of
which, il was true, they had been themselves
deceived. But they had always made known
what would he the essential things 10 put the
insiiuonin,o operation. The buildings were
to finish the endowment WAS to he so olsen
numbered, as to warrast the employment of
pruirss"rs-a library and AN apparatus were
TO be procured. All these things he had, on
other occasions, made known Ia that House.
and asked them ia provide for them. I, had
beep the will of the maturity, to pursue a
course different from that desired by the
friends of the Unyersity-and now, forsooth,
gentlemen talk OF deception !!
Mr.. Blackburn explained. He dscIaimed
any doubt as to the propriety and perfect
fairness Of the manner in which all the APP
preparations for the University bad been dis
posed of, &c.
Mr.. Graves thought the House pledged to
appropriate the bonus TO the fund for internal
Improvement, and should vote accordingly.
Mr.. CoIston offered his thanks to the mem
her from Bath for the manner i'm which he
had defended his proposition. He had not
himself thought it necessary to say any thing
on the subject. in consequence of the decisive
votes which had been taken, evincng clearly
the sense of the House, SC.
Mr.. Taum said he had supported the bill
throughout, hut if the amend ment should not
prevail he should be compelled to vote against
the bill-and concluded by calling for the
ayes and noes.
Mr.. Randolph again addressed the House,
IN farther illustration Of his views on the sub
ject.
The question was then taken on Mr.. Coils
tons amendment and carried in the affirma-
tive-aycs ITO, noes 90.
Mr. Bryce then moved further to amend
the amendment, by a provision requiring tina;
after the ist day Of June, 1927, the annual
general meetings of the Stockholders shall
ascertain. declare and order the portions If
capital stock 10 be employed at the several
Offices of discount and deposit, and requiring
only the amounts thus asce rlained Tn be en-
ployed.
Mr. b. said, that in offering this amendment
he wished Ia promote the views nf the mai ~
riy in passing the bill. The advocates of thu
bill had taken a view of the benefits TO he
derived TO the stockholders, to commerce and
In agriculture, Ivy the extension of the charter.
IL these great interests were TO be promoted
by the operations of the bank, he thought it
wise 10 permit the stockholders tu emplo,
tIni anil. ~ iy,c rl :.
most useful 'o them. II was surely unreasnn-
able, he said tn tie up given amounts of CAPT
talat this or that place, when il might not be
wanted and might lie idle and unprodurtive
Mr. Harvie of Il. opposed The amendment,
as adverse tn all the principles which the
legislature had formerly acted in relation Ia
banks. Such AN exercise of power on tho
part of the bank might he productive of great
distress and embarrassment 10 certain por-
tinns of ihes state. One section of the conn
try in particular, was laboriDg under great
commercial and pecunsry Embarrassment,
and the bank capital employed there wa, moi
productive To withdraw it would be inju
rious To the people, and detrimental 10 the in-
ierests of the state for it would be recoIIect-
ed that the c"mmnnw eaih had embarked u
large amount in the improvement Of the nav
igation on the Roanoke, and The Dismal
Swamp Canal. When these improvement.
shall have been completed, the commercial
prosperity of that section of the state must
inevitably look up again, &c. &c.
Mr. BIS amendment was rejected. Mr. Ru-
therfOrd wished to amend the amendment, bv
striking ont the sum of $50 900, and inserting
some othrr-but il was declared To be out of
order. The question then required on agree
Ing To the amendment Of the Senate as a.
mended, and Mr.. Rutherford expressed his
opposition to it. The amendment was agreed
to-ayes 100, noes Sc.
Mr.. COlstOn then moved that the House re-
cede from its disagreement To the Senate's frs.
fixing the period Of extension TO
u years, and the House receded-ayes 100.
noes CO.
Mr.. Graves moved TO strike out 10 wears
and insert The bonus of $50. 900, he said :,
was not more than One-sixih Of the bonus paid
AT first, &c. If when the charter of the Va.
Bank expires, you re-fharter it, you will be
to extend the same measure Of ius-
tlce TO IL, and exact not greater bonus.
Mr.. Colston remarked that the bonus was
to be paid doicn-and the chatter was To ey
tend for 10 years from this tme--and by cal
culaiing compound interest il would br found
that the bonus would amount TO Sl2J.OOO.-|
This bonus was exactrd too from the Driunfe
stockholders, whereas the first bonus WAS paid
by the stock of the state as well rs Of citizens.
MIR. Harvie opposed the motion
Mr. Stuart called for division OF the qucs
ton.
MIR. Mason Of Southampton thought that
the bonus on the amount of the capital Of the
private stockholders, tatIIo' required 10 hp
paid down, and may be- equal 10 SI25. OOOO
was not sufficient tax for the privilege Of
on such an amount for the term of
] years. lie said ifn was intended toi,npnse
n tax at ALL il should be such a one as to am
swer the purpose of a tax, and could not ope-
rate inlnrlOusIy rs a precedent hereafter.
Ihe nnA sfinn Nr.Is ihnn tnL..n LII. nLrsL....-