Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1830-02-18

ana directed bllis 10 ne brought
The House, according to the order of the
day, resolved / self into a Committee OF the
Whole, upon the bill 10 extend the char
ter Of the Bank of the Valley, and Tor other
purposes'i-Mr Harvie in the Chair But,
without acting upon its provisions, IN Mr.. Ma
sons motion, the Committee rose, aud reported
the bill Ia the Honse--when Mr.. Ryes of Prince
George moved TO lay the bill ON the table. Ia
await The fate and amendments of the bill for
re-ebauering the Bank OF tirginia--Mr Mason
assented eheertuly 10 tins eourse--when he
bill was laid upon the table
Mr. Ruihei ioofd then called IN the bill for
exl ending the oharer OF the Northwestern
Bank, 81. when the bin was read the Isl aud 2d
Iimrs, aud recomu,ilted to The COMMITTEES which
brought il in.
On Mr. Rutherfoords motion, the bill for re-
ehafIrrlng the Bank of Virginia, &c. WIS taken
! up, aud the House proceeded 10 act ou the
mendments proposed by the COMMITTEE of the
Whole
The amendment Tor extending 10 the Branch.
es the privilege of dlscount,ng paper nj 4 months
being read. Nj. Mason moved TO disagree TO
the amendment proposing TO strike cut the
whole section, under an impression TINT the
Bank already possessed the power IN question.
The molion prevailed, the votes being ayes
is, noes 6e--Uhe Chair voting IN the ailirua
uve1
The amendments touching the deposiIes Of
public mooel IN The bank being then read, MI.
William, of ilenfico proposed the following
amendmeat b, way OF substitute
" De II enacted That II shall bs tue duty of
the Treasurer, from tho lst day Of May. IN the
year 1888 10 deposit one moIey ~ The public
monire in tie Bank of Virginia, III such manner
rs Is now or my hereafter be pres r,bed ~
law hut, ifa any time The Treasurer shal,
have good cause TO suspect that any Injury viii
he snstned by The { commonwealth ia making
sn, deposits, he is hereby authorised and EN-
powered by aud with the advice oi the Lxeca.
tive To Withhold The same unlii after The next
meeting Il the General Assembly to whom h.
shall communicate the fact
This proposition was supported by Messrs
William, Miller, Mason of +. Wood and kef
ehevaL--and opposed by Messrs Goode aud
| Eppes.
The debate turned much upon the question,
how lar II was SAT- 10 leave the public monies
in the hands of thu Treasurer, ins'"ad of depos
ting them in tn Bauk--and references were
| made IA the course Of The argument to the "a
perieuce which had been furnished by the de.
falca'lpns Of the two lh,i lfenBurerS--Mr
Goodc denied that single dollar had ever been
lol by tue Commonweal h, from any want Of
security gwen by the Treasure =, or that "A single
dollar had been est u, the Treasurer, escept
III connection with the operations Of the
| Bank5
Toe Amendment Of Nj William, was carried.
! and the amendment thus amended waa h6tred
| to.
| When tie amendment was read for reporting
periodically TO the Board of Directors the bills
Of II change, which should be negotiated by
| tn Presidt n, aud Cashet--Mr Macon Of l.,
proposed 10 amend il by adding the following
proyiso
| " Pr0uided such report be required by the
! Board ul Directors This amendment prevhi
! ed layes %, noes 57-aud the amendment thus
amended. " agreed 10.
! Mr. Kives OF + c, moved TO am"nd the 81
section, by striking on The words "ihe Com
| mDnweslth," and Inserting substitute. Inc
| 81 section ran ms follows: Be (hrttsr c
narted, That in consideration oil the extension
of the said charter, there shall be paid TO thu
Commonwealth ON each share of the stock OF
tie said Bank, held BY olher Stockholders lhan
The commonwealth - per centnm, phyable bt
| sem annual reservations al - Ceuis, OUT 81
- semi annual dlvihenls on sach silaIe he
longing TO other stockholders than the Com
monwraih, commencing IN January 1891, rnd
continuing nil the SAID - per centum, ar the ,
sum of s.. shall be paid Nj H. pro /
! posed To strike out the words he Common |
freaIih" where II first occurs and substitute the
! HHIus lIthlufni anu bHtt'pl VI VIC s'''''"'f |
Fund in redemption Oft per cent certificates
held by sad Literary Fund against the Com
monwealth."
Some conversation took place on this subject |
! between Messrs. aivcs ard laryle--he lii'I
contending that this proposition "ns sn6s'nh'
! italy The same It'll the one which had been
! rejected yesterday, ioI giving the bonus TO the
! Literary Fund i he former GontrndIng, thai |
the proposition was different and TINT the Lr
gslature would be only paying debt which
was due by the Commonwealth.
On taking the question, The amendment WAS
carried, ay 80. noes 50.
| Mr.. RivPs ZIP. g. proposed 10 amend the |
6th section. by aiding the following clause
q Nor shall the President ofibe Bank al Rich
mond receive for his services a sum exceeding
| ~ 600 annHally-nor the President oil any OF
! fee Of Di-cOuni and DEPOSIT thereof, for his
sefyires, "A sum exceeding 800 annually
Which was lost. ayes 81, noes lOL
Mr.. WoolfJk submitted the following
mendment. -" Be il further Enacted, That on
application by the Bank Of Virginia, for renew
AL OF extension % ts cHarteT II shall be Law iul
Tor either House Of As 'mbly TO appoint Com
niitee Of one member from e"ch Congressman
| District III the state, whose ilShi ana duty II
shall be 10 examine lnto the condition and the
transactions oil the Bank and report their opin
ions thereupon. Each member Of such Com.
mittee, being hereby required before be cutters
| on such secret examination 10 take an oath that
be will no, divulge the state Of the account oil
any private dealer at re Bank
| He lbs sied upon the necessity of such
measure being unwilling 10 say, with all his
| respect for the others of the Bauk, that they
| are The most vrtuous and Incofrnpube nen on
| the face of the earth, not more liable 10 yield
10 termination than all the Treasurrrs and other
officers we have had He had no idea Of giving
| the Bank so much power as this bill proposes
without some efficient check--and be was,
therefore, for giving such power 10 the Legs
Iature. as his amendment proposes, the neit
tine they seek renewal.
Mr. Haryie objected 10 the proposition-be
cause he thought II would prove fatal 10 the
Bank, and that no person would deal with the
L H.. ,.l.II. LIZ. md