Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1837-02-23

RESTITUTION, observing That he wished 10 test
inc sense OF the House OH the amount which
they were disposed 10 increase the banking
capital OF the State, and also, on the subject
OF the disposition ofthe surplus fund, and the
places at which new banks ought to be loca.
ted.
Resolvsd, That the several bills ,enor,ed
by the Select COMMITTEE On Bankirg he
'ecommi'ied 10 the same Committee with
instructions tn report one hill increasing the
bank capital OF the Commonw eal,h FIVE mil,
hons oi dollars, apportiuned as follows.
dollars TO the city of Richmond
dollars to Norfolk
dollars to Petersburg;
dollars to Lynchhurg;
dollars To Wheeling, and
-. dollars 10 the Valley Bank and pro.
Vid'ng Tor the investment of the Surplus Re-
venue OF the United States, which tins State
mas received ON deposile, in the increased
capital aforesaid.
MIR. WATKINS moved TO lay the resolu-
ton on the table until to- morrow.
Mr.. Smith of Il. of w, remarked that
The subjects embraced in the resolution.
ought not to be acted on in connection will
each other aud he though, il necessary that
me question OF the disposal Of the Surplus
revenue should first be acted ON. He hoped
the resolution would be laid on the table.
MIR. HARRISON acquiesced in Mr.. w At
kINs's motion. and il was agreed Ia.
LIMITED PARTNERSHIPS.
a biil concerning limited partner ships,
was read the first and second time and on
motion OF Mr.. Dorman, ordered TO he print
ed.
WEDNESDAY,, Feb Is.
On motion OF MIR. RANDOLPH, the fol-
lowing resolution was unanimously adopted
Pssoiued by the General assembly, Tha,
the JOINT Committee on the Library lie III
structed to inquire into the eXpediency of
procuring FULL length portrait OF the late
ChIei Justice. John Marshall, TO be placed in
The Library OF the State.
LEXINGTON ARSENAL.
he Joint Order OF the day, being the G.
lection OF four Visitors for the Military
School established at the Lexington Arsenal,
was taken up on motion OF Mr.. DoRMAN.
MT. ooLFoLK, moved 10 postpone the
JOINT order until this day week. This nation
was supported by Messrs. Wilson of b., g.
Harrison, and opposed by Mr.. Dorman.
MIR May moved 10 postpone the JOINT or
der until the Is, of March, which was agreed
BANKING CAPITAL ANDTRE
SURPLUS.
On motion Of MIR Harr ison, the resolution
offered by him on yesterday, instructing the
banking Committee 10 report bill increas>
ing Inc Banking Capital Of the Slate five
mi'i:ons ct dollars, and providing for the in
'estment oil the surplus revenue in Bank
stock, &c. was taken up.
MIR. Smith of Isle of Wight moved To a.
mend the resolution by striking from il that
portion which relates to the SUI plus fund.-
his motion was opposed by Mr.. Stuart,
and supported by Mr.. Smith.
Mr.. Watkins moved to lay the resolution
on the table, which motion was opposed by
ST.
Mr.. Stanard moved to amend that part OF
The resolution relating to the surplus fund,
SO as TO instruct the committee to report up
On Inc application OF a portion only of that
fund to the purchase of bank stock.
This motion was opposed by Messrs. Har-
ris0n and Murdaugh, and sustained by MIR.
Stanard.
MIR. Miller renewed the motion to lay the
resolution IN the table, which was discussed
ny Messrs. Carter Stanard, Hubbard, Harri-
son, Miller, Murdaugh and Venable, and
reJected-ayes 4S, noes SIS.
Alter some cOnv ersaiion, in which NJ essrs
Harrison and Smith Of l. of Wight took part,
MIR. Stanard's motion TO amend, was nega-
lived
Further debate then occurred on Mr.
Smiths motion TO amend the resolution, in
which Messrs. Voolfolk, HUBBARD, Smith, of
!. OF w. Bolts, Booker, Almond, Harrison,
Carter, Wills, Peter and Shinn took part
Mr.. Edrnunds of II renewed the motion
TO lay on the table, which was rejected.
MIR. Ceoies moved an adjournment, which
was rejected
The question was then taken ON Mr.
Smi'h's amendment, and the ayes and noes
having been ordered ON his motion, il was
decided in the negative, Ayes So Noes &c.
Mr.. Rives then offered The following sub
stiute:
Resolrsd, That the Select Committee on
Banks be instructed To digest, and report TO
this House a general scheme or bill prov i'd
ing Tor the increase, and distribution of
Banking Capital, making any enlargement
81 The capital OF existing Banks which they
think eXpedient, or the extension of thei.
charters, dependent ON their accepting, as
Notifications of their respective charters,
The requirements, and restrictions of any
general bill which may pass this General
Assembly Tor the regulation of Banks
Messrs. Voolfolk and Stuart opposed the
substitute, which was sustained by MIR.
Rires.
Mr.. Bolts moved 10 amend Ike original
resolution by striking out the words '.f ue
millions, with a view to insert larger a.
mount of increased capitsl
Mr.. Segar moved to lay the ~ hole sub
jecl on The liable, but withdrew bis motion,
TO enable Mr.. Stuart TO offer the following
as a substitute
Resoloed, Thsth is expetlient 10 increase
lnu <,f 10