Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-02-19

ON hr land Of another. by empowering Justices II
the peace 10 impose fines in such eases.
THEPrBLIC DEBT.
! The bill 10 provide Tor the payment Of the interest
OF the public debt IN specie or lis equivalent, vas
! taken up motion oi Mr.. Watkins in order 10 re-
consider the vote gwen on u iormrr ay.
Mr.. Neuabio mote1 an an1endnent to strike out
/ the protso which is follows. - Resolved thar tha
said Bank Banks shall be entitled To credit in
account with the Commonwealth, Tor whatever pre-
/ mum Of discount III SAID Bank or Banks may Be
subjected To, IN making payment o the several var
r,niS o. checks, as directed by tbs Act"
Mr.. Fisher explained the reasons why he should
vote against The amendment 10 strik. ont--hs
Thought the provision was but an act Of justice 10
the Banks aud II ough Therefore TO b. retained.
lhr question on ia. amendment WIS th.u taken.
and itwas agree 10.
Nh. Watkins proposed that tie words esrrest
notes should br stricken ont. the effect Of which -
nleudmrut would lie Ia render lie interest PAYABLE
iholut,N specie.
Mr.. Nenalir though, thu BIZ would b. rendered
useless by striking on tIose words, which coIsti-
tuted its most essential feature.
M. Watkins supported his views
Mr.. Fisher asked iof III. ayes AID uoes lhrs
question.
Mr. HARRISON supported ,h- proposition to s,riAs
eoi, |! "as hls opInidn, lhst II the bill authorised
the payment OF spec,c. could thrp contract losns
NJ i"nt per cent while, nn the other hand, II the IN
terr-t nghl be paid IN less vain ,be medium. the
necessary consequence would hr, that a much high
eien capitalist. Fiomibl7 cause lie was desirous If
seeing thos, wo,ds stricken ont. IL No retain IN
om hlus the option oil lle alternative, either TO pay
III bank mites ~ III specie, ~ we may please. theu
II must be csdsnl thm the lpro,gu capitalist would
not take stocs loi, what hrnsfi could he derive
honI las stock nth. dividends forthcoming paid,
~ IN ghi he iald, III il currency winch was oino we
to ban
Mr. Fisher WIS nndrrsi. cd to n,aintsin thar il
would b. an odoos feature Ia pay the oreicnsr HE
interest III gold siNrI aud Tic AhuIdfTo
~ biuk uolcs.
M, Watkins eonteudcd thai the only odiur,
would beentelD,lued by ihs n,eignrl II he was pail
~ acuit.uel which would not purchase FIR him
breakfast IN england speh payment would BE-
odlonslo INN, an Mt To the clrdlo, here To WHO'S
the money was AZ good rs gold AID silver. Indiana
aud lllnel, "erc no" borrowing ufsn,y ~ u cheaper
tdlc ll,n Virginia, IN rely from The cncumsiance VI
thu paying tlIe Interest Of their hans ,Ircls.--
lie hoped the ti moHlI be passed ptovdiu. Tor tho
same practice with II, III ofdr, thu the work OIL
lcfnal improvement might be- earned On. work 40
rssr"'e' to The prosperity "nd we-beng Vi the
Commonwealth
Mr.. Stuart explained lhc object al lac bin 10 bs,
nat I" create any INV ouligaiions, bat provide tvr
tie 81 afgc oi those ahead, .>islirg. The Iav
'lfrady provides for the amendment proposed; ne
uiler tender ~ legal tender IN ~ that of gold and
SILVER, and the toregn creditor 'an demand aud re-
tcNr gold and sly,r II he IS not Wiling receive
ANY other payment. The amendment itself is
.a,reore supc,daou,. Mr. :. hoped the hill w.ula
credit OF rhr State firm basis.
Mr. Ncuabe was opposed Ia the amendment,
which he conteul,d you'll rendrf the bill sut,rely
Useless. lllr object OF the hill To relieve tho
Banks, under present circumstances, but BY tis a.
mcndmrnt. they Compelled to rrsun,. specie
payment" The very instant The bill Is passed Every
one knows this cannot be done.
The amendment Was thea agreedto.
Allel some further conversation t!,e subject
and some olher amcndueu. being proposed ssl
canird,
Mr.. Nsnibl, moved 10 lay I'll" bin on. the table, -
~ consequence ol Ia. changes "hiel II had unasr-
e"n", 1t was no" II" loaeei lh~ same bdl, aud vAs
eututly u-rtess 10 tue aceuu9 slent OF the 81.
Jecls Tor winch II waS onglliali, Intended.
Ihs qnrslion OIL lhn moton 10 lay on the table
Ihen laaen, and decided IN The affirmative; ayes IS
hoes not counted. - the bill "as Land upon tho
table.
Mr. Smith, oil. of ". presented certain alnsnd-
ment> winch nv pro o,rd 10 oiier 10 ihr bl tor the
telci q" tie Hanks, and moved that they he laid sa
Tie table and prmIei, "lten VAS alreed TO.
INTERVAL Inros,arNrs.
Ollnoi.on Of Nj. Shrrrs,d. tie report OF The com.
miHer Roads aud Internal Navigation, was ia
ken np-the noiion for us indefinite posponcment
pending.
Nh Srgar resumed his remarks lie summed ".
his argument OF SATURDAY., and replied 10 argu-
neu which he heard oi against the State system Of
Improvements, hal II was not regular OF that II was
not e al III It's opctatIoi-lIe showed how tho east
would de rive much benefit A. the from thu
system. II not mor,-ihal productions oil the State.
while they would be Increased, wuuld be Dispersed
generally aud the standard Of comfort bruug hi to
greater state Of equality. Mr.. s. IN his remarks on
Saturday, admitted for sake of ~ .uneit, the posi-
ton assumed by Messfs. Y enable and Edmunds-
that roads aud canals unproductive-and
replied by summing mp the immense increase If the
revenues Of the SAFE, the important bounty derived
to the agriculture OF The State, by facilitated ard
cheapened tfanspora i0n would 50 increase the A.
bIy ot the State TO meet expenditure, and eapA-
ci,aje the people TO be taxed for these advantages,
that such improvements were Ia be denably con-
eldercd a public blessing, admitting the posilion-
To day he denied the position. and showed by sia
lisiIts how luternal improvements some Staies
had been most profitable Investments, The esii
mates oi Mr. Edmunds gong 10 shew that the New
\ ork canals had owed uurroii;;ble and tax upon
the State, we've rchnted AMI shown erroneous. Ii
appeared from the data mltan ed by Mr.. SegaY that
! the Eie Caral had all the instruments which
had fallen due upon the debt cd IN con-
sructon, and that it had surplus on hand, invest
ed ~ stock more than snfiiceet by several hun
drtd Thousand dollars To meet The balance of tho
d, bl. Moreover that the Eric Canal tolls paid the
whole amount OF expenses OF The uuproductve Ca
/ ven hundred thousand dollars. The constant aud
astonishing progressive increase OF the annual A.
! mount OF tus various works OF improvement.
Mr.. ;. took as strong argument that all would be
finally productive, aud against the discouraXins l.
IDEAS held oat b the opponents Of the system OF im-
pruycmeuts. Other States alluded TO; Ohio
IN partlc uiar; and the ilacrns results shown to
be in the prospective there by uile.ulale data, were
exhibited by Mr. S. The James River aud kanaw.
h. Improvement he expressed his opinion, would
prove to be nearly productive as the Erie Canal,
k.t 81