Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1833-02-09
Virginia Lcgislat ure.
JAMES nj
HOUSE OF DELEGATES.
Wednesday, Feb. 6.

The engrossed bill authorize the Corporation OF the
City OF Richmond TO subscribe the stock Of the James
River and kanawha Company, was read a third time.
Mr. Rutherford said that in compliance with the
quest of the subscribers OF memorial presented by hin,
yesterday against the BILL he moved the reading OF that
memorial, aud oil the report oil minority OF the Common
Hall OF Richmond.
The memorial was then read. and the Clerk was pro.
ceeding to read the report, when
Me-. Watkins OF g. said he hoped the reading would
proceed no farther IL enough for the House 10 know
that large majority of the citizens Of Richmond were
favor oil the proposed subscription. The memorial
signed by few individuals ony-sx or seven being ALL
after much exeron who could be induced to sign it,
Those persons declare that they have subscribed much
TO the stock OF the James River Improvement ss they
thought prudent to subscribe But il their fortunes and
their subscriptions were compared, would be that
they had contributed pance TO this great object
He hoped the bill would be passed at once and
that the reading be suspended. The motion sgrced
to, ayes 81, 3S.
any abored argument this subject experience adj
monished him Of the useessness attempting opposition
to bills oil the character OF that under
but he rose to protest against the principle which would
be involved in the passage OF this bill The object OF this
measure the that Of bill whch passed the
House few days since, authorizing the Banks subscribe
10 the stock oil the same company bill which would
have the effect TO force the minority of the stockholders
The Banks to submit TO in the benefit Of which
they could have no share, and by which their properly
TO be rsked He constrained TO saw that the l..
gslaure OF Virginia had been his most
The rights OF minorities The corporation Of City Of
Richmond was organized for certain distinct purposes
which did not embrace objects like that proposed
But the Legislature about compel individual,
TO submit TO application Of the powers OF the corpora
ton TO purposes not contemplated when the charter
granted He was opposed to the principle OF the BILL
unjust and improper and, although it would probably be
unavang, he had considered il his duty TO declare his
sentiments the subject.
Mr. Rutherford said, no considered IL superfluous to
oer single remark on the probable OF the
terPrise 10 accomplish which, the citizens of Richmond
had contributed so literally individuals and are now
willing TO subscribe in their corporate character The
Legislature have already expressed their entire conf
Oi unta aI
They have authorized subscription the part of the
state Of two million of dollars the stock OF the compa
ny. Being large stockholders in the State Banks
bill has passed this House authorizing subscription OF
million OF dollars by those The House
OF Delegates have virtually instructed the Treasurer to
vote IN ayor oil the subscription not only by the
OF the bill, but, by rejecting every amendment which
sought TO submit the question the decision Of the u,
viual stockholders alone was obyou, then that ann,
argument addressed 10 the House this subject would
be waste OF time. He moreover consde red il unncces
sary TO occupy the time OF the House with any remarks
on the expediency OF subscription by the city of Rich
mond He would take it for granted that the Lesisla-
ture would adit, that the OF Richmond ought TO
be qualified to decide this question for themselves They
were better acquainted than the Legislature could posi-
bly, lac, with the the city-the debts due by
The corporation, and their means of paying them-the
pressure OF the imposed by the corporate aubor.
Ties OF the town, and the ability of citizens TO bear any
additional burhens for the accomplishment of the grea,
objectin vew:-and would doubt their competen
cy TO appreciate the many advantages likely result to
The city from Judicious execution Of this grand
prize. He considered il equally unnecessary TO attempt
TO prove the right OF majority of corporation bind
the minority, in obtaining such amendment the char
ter, as Is sought by the bill under confederation
This question had been debated and decided in this House
only few days since To require unanmty in such
would be granting any caprcous of the cy
veto on the declared will ofthe whole corporation Buthe
case fCurries Administrators The Mutual Insurance
Society oil Virginia. adudicated in the Court Of Appeals
and already referred to in debate furnished decision 40
conclusive the subject have put this en-
urey at rest Mr. X said that the only question for the
consideration OF the Legislature was, are majority of
The oi'iZens OF Richmond Owning the greater portion in
value OF the real estate in the town. favor of this sub
scrption He felt il due his constituents and to tho
House, TO say that in his opinion there only de-
cied majority OF the qualified voters OF the favor
OF the subscription, but that that majority The owners
o the greater portion in value of the real the CITY
Out OF 293 voters who had voted the question: there
only eight who had vo.,! against the crption
VI about 81 $4,000 of real estate, owaed by those who
actually voted, more than tens owned by those
who voted for the subscription. But have JtSn told
said Mr.. r. that the whole amount of real estate in e
the city, is estimated at about SIS 500 000 much the larger
portion value Of real the town. was unrepre
sented the polls Did il follow, however that those
who did not vote were opposed TO the subscriptions Was
1t not az fair to infer, that they favourable as that
they undvouabe to the ohec and that all had
voted, there would have been no material difference in
the result Are moi the opponents of measure general
" as active and jealous as its friends! Ii is true that
opponents well friends Of the proposed subscrip
on did not vote. But il Is reasonable TO suppose
in general that those who did vote were willing thai
The question should be decided by those who did
No complaint could be made that the question had no,
been fairly taken The subject had been duly consider
III.
lie meeting OF the citizens, when il resolved that the
question should be decided by the qualified voters of the
town. Due notice had been given OF the time and place
o. taking the vote and the polls had been kept open two
days. Those then who did would not vote ought
to be regarded having assened abide the decision of
those who should attend the polls Under such crcum.
stances, he presumed the Legislature would not he state so
TO amend the charter of the city, leave it dscreliona
ry with The corporation 10 make the proposed
Mr.. Brown OF Petersburg entered into an explanation
ana submitted number OF illustrations, show tie con-
ssency oil the vote he should give this BILL with the
opposition ne had expressed to the bill allowing Banks
to subscribe for stock in the james River and Kanavha
Company He observed, that the charter OF the COR
poaon, prohibory clause existed in the charter of
the Banks against dealing such stocks the subscription
could be beneficial to the majority il would also be bene
fetal 10 the minority Of the inhabitants Richmond as IL
prosperity must be greatly enhanced by the Of the
work But this could not be said Of the stockholders of
The Banks, many oil whom, residing at distance and
some even beyond seas could participate in none OF
the benefits TO be derived from the success of the Jsmos
River and Kanawha improvement. He had said Tim,
much, to vndicate his consistency in voting for this bill
and to shew that the reasons did not i'm b,
mind against IT, as against the Bill authorize subscrj
tons to the stock on the part OF the Banks
Mr. Ghoson did not pretend say that this bill present.
ed so strong case OF violation Of the rights of ninotv
the other bill alluded 10. But he was opuose 10 M
principle in both bills The gentleman from PETERSBURG
must be mistaken III the view he took of this subject or
tho common council were very in coming 10 the
Legislature Tor act TO authorize the CORPORATION In sut
scribe to this stock II they possessed the power where
was the necessity OF asking for special law TO authorize
them to make this subscription The charter Of the Civ
was granted Tor The management Of the internal
OF the corporation and they had the power TO enter into
nus speculation they might 20 into Others 0d iufnitsn
Suppose for instance, il should he considered beneficial
Tor the City OF Richmond tn e.tabIish