The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1838-09-28

OF ~ pet cent. PET Neaf-"' '"s"s icss '"aa
900 600 and mere than 100000 dollars 10
bear az interest Of 5 per cent. per year-sll
leans under 100, 00v dellars 10 bear an IN
terest 81 per cent. a year. All borrowers
to give their Bones land security either real
or personally bearing interest from date, aud
PAYABLE on demand, and the Board OF In.
teruai Improvement to collect any bond,
whenever they suspect the solseGcy OF the
borrower, and report 10 the earliest leglsls.
ture, when they direct collections, &c.
A. The primo lpaI and accu nulaled interest
OF the Ssuk Stocks 10 be added 10 the Fund
for Common Schools, aud 10 be re invested
in loans or otherwise, BY the President and
Directors of the Literary Fund.
). The principal and interest collected
fron time To time, on Internal Improve.
meat Fund, to be reloaned and accumuls.
ted BY the Board Of Internal Improvements,
until the General Assembly shall otherwise
order and direct.
The Bill proposed BY the Committee Of
&c, Tor carrying lBIo effect the Isl branch
Ct this recommt rdatios, IN order TO guard
against an @, erpus OF Bank Capital, au-
thorzed the 8 Bank OF the State, "a case
the Stockholders should find that the whsle
capital could not be safety and probably
emploved, hereafter to redeem II by bay
inr m tie Stock of individuals or OF the
State, or To receive sals Stock IN payment
of debts bona fds due 10 ihe Bank al price
not less han the par value.
II further provided that the State shsuld
elect 4 Directors a0d 90 nore-lhe private
Stao kauders and no more. Ane at
meetings uf Stockholders the State 10 vote
Two 6tlhs OF the whele vote present at The
meeting aud no more, aud individual Stock.
holders three hfths.
PAYMENT 10 be made for ssId Stocks as
follows: enc fourth at the time Of subssr,b
ing, Us: of April. One fourth 90 days
thereafter. Another fourth 6 nsnihs there
aler-and The remaining fourth months
thereafter. And IN case The Stale chose To
anticipate the DAYS Of such payments, the
Bank IL allow discount at the rate OF =
per ceGt. year.
For the causes already assigned, have
not gose at length Inin the reasons set iorit
in their report, more fully stated by iheiI
Chalrman, in explaining II and enforcing
It's adoption. Should any wish to see the
Report, II was printed Is the Standard o
llth January, 1887, and all the ether pa
pers abeve that date. In fewer words,
have thus presented the recommendation,
OF The Committee Of %.
The report brought thu rhole ss!ject be
fore the House OF Commons, a0d that bod!
took 1t up for consideration an 9th Jaaua
~, 1887, and held It under discussion ant
investigation for more than week.
On the 9TH January. | -37, air. Edward
Introduced befurs the Senate, blA e5abo
dylns IN subsiaoce) the same ProposiIioI
that was reported Ia the Commsps o. th'
"Cvmrnsttee sf 20" Ii passed the secont
reading IN th. Senate % the l0ih Of tina
month, and The same was passed BY IN
Senate On the 10Th January, -37-fea
o6, NAYS 81. The sequel Slll show II
fate Ia the Commons.
In the discussion which occurred 10 th
House Of Commons on the 10Th January
1.-THE House beng 10 Committee Of IN
Whole Mr. llay weod (lhe Speaker va
entitled Is be On the floor, where ne sui
cessfully opposed the report Of the Con
nt,tee Of %. II Is due alike to hlm an
10 current history ef these measures
state enc leading point 10 bus speech, an
uiIi repeat It. After ih- Speaker ba
ked the report 10 detail, and concl.
ded his remarks on 1t, some member n
uJesed him to give way for DstIon 10 az
iourn. and he declined IT, saving -
81 have now presented To you, VI
Chairman, all nv objections % this repor
| would chreriulIy relieve your pali-nc
BY giving away for an adjournment, but
feel anxteu- to eco0omse eur line. W
have a great work to perform, aud II IS Of
duty to do IT as qUlekly as II eau be dor
well. Moreover, feel personal sGlIc
tule 10 say all have to say on this que
ton 10 nc same hearers, and so the san
dav. | have shpwn The conuUued,) th;
the Recommendations Of the Committee
26, ought not to b. adapted. have gave
nv reasons sincerely and frankly. If
stop here, my duty will 20, be half d
charged, If It can he SAID 10 be performs
al ali.
The Congress Of the L. S. has order'
this money to b. put IN our hands-no OF
believes that We ought tn refuse II, meme de
vote 10 leave II N The Banks idle lie thef
fura, an. T. csntent to III By and "ppo
every scheme that j. proposed, and will o
tax hl. mind 10 produce batter, IL an - u
prafiabie servant" The people have rig
10 something more ti,sn negative votes fro