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

the moment you touch the one, you have The
whole family OF them about your ears. lou
cannot prevent their combination. He declar
ed that he was in favor Of the proposition OF
the gentleman from Spoitsy wanna: on Thu
subject hs though. the form was really cub
stance.
| Mr.. Riyes Of c. suggested whether the ordi
nary rule could not be charged. aud the ques-
ton first taken on the shortest tune. And on
taking the question the House so decided.
| MT. Mason Off controvered this idea of
con soldaiing the two Banks. How was il 10
be effected by legislation You might take The
horse 10 waller, bat can you MAKE him drink
Can yon meke the Banks unite together
| MIR. Burioot said thai was question which
would be answered in 1872 II The horse will
aet drink, only tell him. that II he dos not
drink he will die, he i'll most probably take
| the alter native you offer.
! Mr.. Mason said II the gentleman wished but
one Bank all that he had 10 do was to refuse
now tue reehartering OF The Bank
| MIR. Burfoot denied that this was the ques.
tim, and assigned his reason for his opinion
Mr.. Minor argued again in favor of his propo-
sItion-and allied for the ayes andnoes.
Mr.. Rutherford hoped, If gentlemen would
not renew the Bank tor l5 years, some one
would at least rise TO strike Out the Bonus: for
certainly the Bank could not pay the Bonus
| asked for, Tor sn short a charter.
Mr. Bryce advocated MIR, Minors PROPOSE.
ton. tie said. that if the Bank OF Va. would
MOI accept Of the proposed charter. he had no
doubt that sufficient Banking capital could he
had without them. Mr. q. argued The propo-
siiion at some length.
The question then tshen BY ayes and
nays, and carried for the nine years and one
month by the following vote ayes 1875,
noes 6l
On coming TO the blank for the bonus, Mr.
Voolfolk moved TO fill il with 8 per cent
Mr. Miller said, that 8 per cent. was what
the Bank was understood 10 be- willing to give.
u Its charter were extended for fifteen years |
lie himself. had voted for filling the last biank
IN the way IN which il had been done, (and
he went on TO justify his vote, and TO explain !
The advantages of anna gamaing the ~ Bank,
and having only one lnsiitutinn)-But vas |
II 10 he expected that the Bank would b. abe |
To pay as much, Il their charter vas restricted |
10 years. he moved, therefore, to fl The |
blank with 2 per cent,
Mr.. Minor proposed 3 per cent-being, a, he |
thought. the proper proportion.
MT. Voolfolk assigned lis reasons for his !
proposition. He wished these Banks to expose |
their condition: for, when the question o |
Bank OF Virginia would not consent to unite
with those of the Farmers Bank, withour
looking into their actual situatin, and rice |
refsd He commended, thai per c4ut was ,
very moderate bonus IL was no more than " az
equalio the lsteresi Oh the Deposit none, u |
the Commonwealth. He was just informed |
that AT the last renewal OF The Bank they had |
agreed 10 pay 20 per cent
MIR. Harvie said he caudidiy thought that
With This limited charter, the Bank ought TO
pay no bonus at all /; but he was willing o
vote Tor the proposition of the gentleman nom
fowhatan. lie gave thr TT asons WY The Bank |
could afford much greater bonus 1he last i'm
its charter was renewed, than at THIS. tim.
vine" owing 10 unexpected embarr ssments, tie
bank stock had incurred a loss of u per ceni
As II seemed, however, the dsppsition oil
gentlemen around him thai some bonus
ought TO be paid he was w,lhag . vote for
2 per cent.
MI. Bun fnot said, thai 3 bears The same pro
portion 10 ., that D docs Ia l5 and Therefore.
II would appear that The osuion If the gen.
ieman from Spottsy yaata Nas correct. Blu
IN these cases, CommoG A,uhmetlc W.. very |
ialacious, and we conld not N al cases go BY
cocker But for cert IN reasons, which he
proceeded TO assign, he should vote for the |
proposition ofthe gentleman from Powha,an.
"'I' hHfbioHkh sldleu us reasons tof sup |
porting per cent--veNing he bonus IN TIE
iShi OF tax aud II is not II higher tax IN pro
portion, than IS paid on land and slaves
Mr-i tiarvie asked in what cases mis- State
had ever taxed capital
Mr.. kimbrough suggested, that though not
directly capital, We had laid taa ON the various
forms of capita.
Mr. Minor suggested thai the last time The
Farmers Bank was chartered il had paid 500,
ONO on its capital (of s., 900, u0D-the CAPITAL
Of The Bank of Virginia was 81, 740,0
Mr. Miller begged of The gentleman to recol.
ect that the charter Of the Farmers Bank WAS
renewed, not for bnt l5 years
Mr.. Bryce advocated the payment of 2 ner
ctnt. lie had no doubt the Bank of Virginia
could and would pay it,
Mr.. HaryIe stated hat he Iast t;pe ,beE,,mars
Bank was renewed Mis House determined thai
II should pay no henus-bal the lde A of A bonus
came from above Che Senae) -An1 was there
any thing III The inesent state of our CONNER.
c'al concerns TO JusiIiy much heavier bo
nus now upon the Bank Of Virginia? For, the
Farmers Bank then had 10 nav $50 900
fraction more than 3 per ceni--snd was the
House 1oont TO liedt hese Two Banks uneuual
ly1
The question 10 fill with per cent. was lost.
And then the proposition to fill with 3 per
cent was adopted without a division
Inc blanks for paying the semi-annual in.
staments was filled on the successive mo,;ons
of Mr.. Rutherford with Ten semi annual reser.
vaiions of thirty cents out of Ten semi.annnaI
dividends
The blanks appropriated TO the per centnm
on each share, and the whole amount of the
bonus, was filled so as 10 run until the whole
OF the aforesaid sum of 3 per cent. per share
amounting to SOL 360-,o be paid within five ,
wears after the Isl day OF Ma in the wear ,
lhe blanks being all filled, Mr. Gregory rose :
TO propose the following Ryder:
BE i"rther enacted, that The 8 per cen
fum required 10 be paid on each share Of ,be {
stock OF The SAID Bank held by stockholders,
other 'han'he Commonwealth. in consideration
OF 'he extension st the charter of the said Bank,
according 10 the third section OF this act. shall