Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1830-02-25

- ,,mber of shares purs based bat he
was very doubtful whether Mr.. Goode $ sneho
meni answered that object; and he shoo'o 10,
Ite 10 vote for il. until be was better ss'ishfa
tina, such was its meaning As TO the S'nsnn.
msnt from the Senate he could no' '"'c ~ "
or any account.
gains, the Senate's amendment hn' u y VIZ
10 carry. he should cedainly prefer II "a The
shane which he had attempted to site H-tie
thouybt under hi, provision the Commonwealth
rould be safe in adopting !, because he had
e,nied /, from the present charter, respecting
The election Of Directors H. thought u was
rrobably q safe medium, between those VIM
claimed TOO muchinfuence for the state, ana
those who claimed too little.
Mr. Bryce expressed n hope that the House
would disagree TO the 5%enate's amendment
ard the matter would take Tint conrse.
Mr.. Rutherford hoped that the House
would accede TO the am ndmeut OF The Senate
and stated that he could moi reconcile II 10 any
idea oi equality, that the State should possess
the absolute control IN The management of tine
Bank tand that h. could not repose such an
uobonnded Conscience in the ssgactiy OF any
Que man, in directing its aftirs.
M. Gregory said, the only question vas
whether the inf renee Of the commonwealth
should he iscreased or diminished and he ho-
ped the iIonse would simply disagree TO the A.
nendment ofthe Senate thus retaining ihosame
power which the original bill gave the Common
" alth.
The question was then pui upon Mr. Goodies
amendment. and lost-wben the question oil as
ogr,fmeni 10 the GmendHent ~ me osHdft mas
MIR Cabell proposed TO amend The asst amend.
ment Of the serair, by adding the following f;
" Pioridsd, h0rsrer. Thai nothing in thin act
suall be 50 construed as 60 deprive the Board
OF Directors oil the pow r To authorize Ihc par.
chase Of such bills of exchange or drafts, ms
NAY be drawn nj any Of The Branches, pay allie
at The Moihet Bank or any other Branch. OF
rice ftrsa without ihn previous submission 10
the consideration aud approbr alton Of said
Board OF saiI Ills a. TRAITS , aud provided al.
ways. that sach bills or drafts be payable ut -
period moi eleerdiuR FIVE day hfer sI.ht
Mr. Ftsaet opposed The ameodmrot, n be
log repuguAnl tp the other pr1. isians Of 'ihr
hnl-41f. talch sad. h. had no objection 10
withdraw ms anendmeut-buf Mr.. wilson de
Ularsd thai he saw u lncompahblitY nj all he
tween these vaiIou provisions, and hoped the
gentleman from Piuaylvania would not with.
draw II, Mr.. Cabell men renewed if-and after
n shn,t debate, the question ~as taken upon il,
aud lost.
The last amendment Of tho Senate was a.
gteed io-and Mr. Guode requested to carry
the bill 10 thu senate, with III. Disagreement on
the part OF this House fu iheir amendment res
peciine the vote ofthe Commonwealth.
The eng nssed bill +" oppropriAting the pub.
lie revenue. was passed, after filling all the
blanks 5000 dollar, hrloe appropriated for
repairs ot the Governors House, furniture
81
The House then took up The engros'ed bill,
" To extend The charter OF tho Bank oil the
Valley IN Virginis, and for other purposes -
ln filling tho blank with the time Tor extending
the charter, some discussion ensued) Mr..
Mason of moved to Gil the blank with fifteen
wears Mr.. Minor with & years and one twelfth
OF y year. from May 1891. The latter again
urged The advantage OF letting the charters OF
all the Banks run out together.-Mr. Mason
commended that Whatever might be The wish Of
gentlemen as 10 Iho two Ranks IT, the Eastern.
part OF Virginia, or a. 10 tire plan Of consolida.
ting thcm iulo one institution. the same afgu-
ment could not apply To The Bank of the Val
lev, which WAS entirely disconnected with the
Other Banks, and in which tho State owned on
" about 10000 dollars, out of 100000. lie
presumed that gentlemen bad 40 idea Of con.
sbo1fi6"g fi6Piiiid{g"' "@anTictH" n" d,d p' not adult 30,
what would be 'he effect oil letting all these
charters expire together : II must bring about
this very combination among the Banks, which
gentlemen 81 much deprecated. And tins
charge OF combination be tue, which no alto
gether denied, yet gentlemen wrie bringing il
about, by inducing II not coercIng all the
Banks 10 apply at the same moment for a re.
newal, aud thus bringing abopt this combination
among the Banks, Of which they now compln,n.
ed.
MI. Minor argued, that the Banks esn,rinr
At one time will relieve the Commonwealth
from all contracts or obligations as 10 the demo.
sill of ITS taxes. The Banks now have a right
20 have their notes rccrivablr in the Reyenue of
the state, and in the place OF its safakeeplog.
When all The Charters expired al once she would
be at perfect liberty 10 make such arrangement,
on THIS subject, as she Ihought best
The question on filing the blank with Is
years. was lost-ayeS 81, noes SO
The blank was then oiled with s and l.tolh
years.
The blankfor the bonus cams to be slled-
MIR. Mason moved 10 all il with 10000 dol.
lars. l1a SAID the sum originally proposed 10
be paid in casa us charter was 10 be renewed
15years, was 10000 dollars. II had alread,
paid 10 the State. 10 the amount of 10000
dollars, and 1t would amount before the eK-
ptration offs charter. TO about 1926 0 doll ars.
He contended that the Bank could pay less in
proportion than the Richmond Banks, that il
had not The advantage Of mercantile trade, or
permanent public deposits.
MIR Masou'S proposition was accepted
The bill WIS about 10 be put upon its passage.
when Mr.. Mason remarked that there was n
provision attached to the thlrd section, upon
the supposition that thi. provision had been
introduced into The Bill, about the Virginia
Bank, but as that provision had been struck
from that bill, he wished the present TO con.
form 10 that billiard with n view oC oauf,,
at his object, he was compelled TO move the
reconsideration OF the question about engross.
ing it.
The House agreed to reconsider the bill,
when Mr.. Goods moved TO amend the bill by
striking ont the end of the 81 secti ION as fol.
lows: " But the right is hereby resel we'd tc the
Legislature to provide by laa, that no such
bill or note shaft be receivable in any nav
ment to the 5 ate Provided, that no law mass. ,
ed for that object, shall take effect in a shorter
period THAI one year from the date Of its enact.