Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1837-02-16

! Tho ayes and noes being called by Mr..
| Wilson, the motion to postpone was decided
in the sfiirmative-ayes 90, mes 10.
| On motion ot Mr. RIvEs, was
Hesoiped. That this House will. on Fri.
! day, the i7ib instant, proceed, by join, vote
| with the Senate, to the election Of a member
Of the Executive Council for three wears
from the Sls, March next, TO supply the va
cancy occasionee by the expiration Of the
term of service sf Wyndharn Robertson.
Esq.
BANKING RESOLUTIONS.
The engrossed till prescribing regula.
tons Tor The incorporation of Banks was ta>
ken up-Mr, SMITH OF Isle of Wight's mo>
uon to NIL blank fixing The proportion of
! paper issued TO the specie on hand with the
wofd 'tUo, lsn as 10 authorize the Blanks
10 issue two dollars in notes Tor one dollar in
specie IN their vaults MIR. HUNTERS
motion to hii with the word "three,'' and
| MT fENABLE's motion to ell the blank
WIN Tie word four" were pending.
MT. DAVENPORT msved To fill the blank
with the word .fue," and sustained his mo.
tion with some briei remarks.
MIR. SMITH OF Isle OF Wight, supported
ms motion To fill with the word sstwo." al
considerable length, and read various state.
I men's, To shew that no injury would he Gauss
Gu oy INC restriction proposed by him.
,,. MT huNTEe supported the filling the
r'ahk WIN farce" and spoke nj some
length, 10 show that this pro,wt,ion would
enable banks 10 operate prusperously.
Mr.. SrANARD supported the motion 10
NIL with the word "fve," and referred 10
various documents 10 prove that the best
conducted banks in this country had been
managed with safety aud benefit, with a
much larger proportion OF paper in circula-
lion. lie also urged that the restrictions
proposed, would prevent any banks which
might hereafter be chartered, from g ding in
10 operation.
! mr.. MAY advocated the motion 10 Gil
win 'hrc, and pressed upon the House the
| experience OF The benefits which had been
derived from the practice in that particular
/ up 10 Inc present time; and the evils likely
gentleman FROM Isle Of Wight.
MIR. SEGAR argued thai the adoption of
e'iher the motion to fill with sslwo," or that
/ 10 L" win three" would he in effect 10
destroy ali hope Of an increase of the bank
! ing capi'1i of the State. lie believed the
! present banks would not accept additional
I capital under such restrictions MIR. S.
! moved 10 I'LL the blank W it'll the word "six. /"
MIR. CARTER advocated the motion 10 fill
The blank with The word 'fiye," and read
statement which he had made OF the injurious
consequences OF greater restriction.
MIR, SMITH OF Isle of Wight, contendeG
that The restriction proposed by him would
mol inJure the banks; that they could oper.
ale safely and profi,abiy under ii; and refer.
red 10 documents 10 prove that The present
banks had been in a prosperous condition,
when similar proportion betw cen their is-
cues and specie bad existed. He then with
drew his motion to fill with "two," obsery-
ing, that he should be satisfied if the blank
we're filled with the word "three.''
Alter some further remarks from Mr.. Sc.
/ GAR, who Withdrew his motion to fill with
six, in spirit of comp omise-tho ayes
! and noes having been ordered by Mr..
i Book Err. the vote was takea on filling W irh
the word i've, and decided in the mega
tive--ayes so, noes 65.
! The question then required on Mr.. W.
! MALES motion 10 fill the blank with the
word "four." This motion was sustained by
! Messrs HARRISON and WIrcHEn and the
ayes ana noes having been ordered, on mo-
. lion OF Mr.. Book Err the vete was taken and
decided IN the aflirmative-Ayes II, noes
! The blanks for the number OF Directors
oi the Mother Banks and branches. being
next to be filled, Mr.. May moved to fill
that OF the former with nine, and the latter
: with seven.
| Mar. STANARD moved 10 fill those blanks
with thirteen and nine.
! Alter few remarks from Messrs. STAN
ARD and May, this motion was negatived.
and the House agreed to MIR. MS motion.
MT. MAY then moved to fill the blanks
ioT The number Of the directors TO be appoin>
ted by the Executive. " ith the words "iiree"
Tor the mother banks,] and "t,vo" FLOR the
branches
Mr.. WATKINS moved to fill the blanks
| with the words '..tiue" and "three -
On this motion considerable debate occur
req, req In which il was opposed by Messrs
Nay n'anaid, Hubbard, Segar and Smith
OF Isle OF Wigh! and supported by slessrs.
ring which the adjournment was twice mo-
we'd and rejected.
The question being then taken on Mr..
WATKINS motion, the vote stood, ayes. 50.
noes 81
SO the motion was decided in the negative
Mr.. WATKINS then moved to fill tie first
blank with the word "lour."
Aiter an unsuccessful motion by MIR
CHAPMAN 10 adjourn,
On motion OF Mr.. WoeLroLK, (wbo
said this was most important question. and
ought TO be decided by toll House y the bill
was laid on the table by vote of 81 TO IL.
On motion Of MIR. WooLFoLK (at a
quarter before d the House adjourned
FRIDAY, Feb. 10.
On motion Of Mr.. SEGAR, Tic following
resolution was adopted:
hesotoed, That committee oftwenty- one
oe appointed TO inquire into the expediency
and prophet OF instructive our Senatcre ,nd