Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-02-22

mates in Cambridge University, England who was
born ana remained att his life stone blind and also tho
late Chief Surveyor of Scotland. - So e, -
MIR. McPnERsvN called for the ayes and noes on his
motion.
Mr.. WoorroLK spoke in favor Of the motion, and
commended that as the Literary Fund was for The educa-
ton OF the poor would be robbery 10 devote il TO the
objects of this Institution. i.ls=
MIR. KINNEY stated, that 80 far from absroclinv from
the Literary Fund the friends Of Primary Schools might
be gatied by learning that twenty five thousand dollars
would by this bill be added to the Fund their behalf
MIR h went on 10 advocate the bill with much earnest
ness contending in favor of the blind, DC. worthy OBJ
lecs OF education By the aid of the Literary Fund Mr.
n in particular remarked that he thought the constitu-
ents OF Mr.. Mcpherson would not take it as great
pi,nent 10 have it said of Them that if cent was be
taken out OF their pockets they would be found destitute
OF all phianlhrophy. MIR. x. hoped the motion would
not prevail.
Mr.. VESABLE would vote against the motion, because
The PRIMARY Schools would be benefited by the passage
Of the bill.
Mr. HAYMoSp expressed his intention 10 vote against
this motion.
After some further conversation in which Mr.. KINNEY
replied TO some statements adverse 10 the objects oil
the bill, brought forward by Mr.. WooLfoK, Mr. HAIR.
urged upon Mr. McPHERsoS TO withdraw the mo.
ton, 10 which he assenled and then, on motion OF MI
HARRISON the bill was laid upon the table for The pre-.
sent, 10 afford opportunity for correction.
HALF PAY-oLD OFFICERS.
On motion OF Mr.. McCANDLIsH, the bill TO authorize
the Auditor of Public Accounts to issue warrant on the
Treasury in satisfaction of judgment rendered against
the Commonwealth by the Court OF Appeals, in favor o!
the administrator OF John Nacston, decd was taken up
MIR. McCAspLIsH made some remarks IN favor OF the
object of this BILL lie understood the Court OF Appeals
had adadged in favor OF the claim:
Mr. CABELL said that the principle was new one
which this bill, if passed, would establish 1t might
lead TO open large class Of new cases-and therefore
behooved the House TO consider wei! The subject To
afford time for t, purpose, he thought the bill should
lie on the table.
Mr. HARuisox commended strenuously in favor of the
BILL and went into explanation of the nature oil this
claim, and the ground on which il rested.
Mr. RvEs in reply observed that the War Depart
ment was the proper quarter for the decision o
such claims. Its rules necessarily rigid, but II did
belong the House 10 take up every claim rejected
there.
Mr. SrGAR observed if the decision at Washington
was not correct the claimant had his appeal to the Allo
ney General-bu it did belong to the House to take
up these claims.
The question was Then taken on The passage OF lhe
BILL and ii was rejected.
Mr. PExpLEroY stated 10 the House that he had, fol
to-day waived the submission Of his resolution of IN
s,ruc,ons 10 the Senators in Congress from Virginia
for the that the motive which mpelled HIM orl
gnay giving notice oil his nenon had ceased 10 ex
list in full force He was satisfied now that on Monday
resolutions would be presented and from quarter more
appropriate than The political party to which he belonged
He took this in Difference to the opinions
other gentlemen This political friends than in obedience
only for to-day and Monday next.
EANK BILL
The above bill, with its amendments being called up
on motion of Mr.. MAY,
the amendment of Mr.. Robertson withdrawn for ht
present, by its mover, Mr. Bolts
Mr.. ROBERTSON then addressed the House in supper
Of his amendment and replied at length 10 the objections
of its opponents. MIR. r. maintained that the bill with
his amendment left it entirely open TO the Banks Ell
ther TO pay not to pay dividends. He conlended tina
this alternative ought not TO be efl 10 their discretion
but that the Legislature bound to assume the espon
siby and to assert either that they should not pay
dividends, else TO give its authority 10 them 10 do SO
As the bill now Stood If they paid dividends, they were
liable penalty Of ~ per cent; long they ceased
10 redeem their paper in specie; and on the other hand
if they paid no dividends multitude OF deserving ant
mertorlnus citizens would suffer by the prration o
that which wus, TO many Of them their only
Mr. R. thought that the Legislature ought to speak out
and say what the Banks ought 10 do Now, if they pay
dividends, they vii! suffer the penalty aud II they do no
pay, the people and the Commonwealth will suffer. III
object Of his amendment was, 10 remove This doubtful
state Of things and authorize the Banks both pay
dividends, aud also 10 appropriate part OF their profits
The purpose Of purchasing specie, as preparatory t
the resumption OF specie payments.
Mr. EESABLE in reply observed, that if The object o
the gentleman from Richmond had been to obfuscale The
whole subject and involve it in darkness, he could no
have done successfully than he had, for h
had left entirely out of view the whole object Of TIT
committee and of the House in relation to this matter
Mr. V. would endeavor to bring back the House to TIT
consideration Of that which really before it, TIN
question is, said Mr. v, whether the Banks shall be per
United TO go dividing profits among the stockholders
while they continue 10 refuse payment in specie fha
was the whole and sole object of the 18th section Of tn
bill, which Mr. r. has moved 10 strike out to make
for his amendment The committee in its desire to re
ere the Banks from the penalties which would fall upo
them, had been anxious 10 place them under some rea
soDabie restrictions and penalty, that there might exlS
inducements for them to resume at the earliest pos
sibe and practicable period. With this view, the is
section Of the bill conferred lmmunities upon them 10
their relief and for the advantage Of the people in gene
rail- and the 4lh section provided the penalty mentioned
in der that they might have interest in resumln
specie payments and giving good currency to tile pee
pie Such had been The and object OF the commit
tee. This had been attacked by Mr.. r., AM
his amendment has been brought forward rs substltn
for the measure of the committee. But Mr. would OBJ
serve, that the committee sustained in the measure
had recommended by the example ofthose who were wei
and intimately acquainted with the whole suhect OF bank
and banking, and who disposed TO act with justice
and lenency towards them He referred 10 the polio
pursued by the State OF New ork The latter had passe
law enacng that their banks should not divide an
profits, until they paid specie the consequence of whIc
would be, that they would resume much sooner, than
their profits fast as they accrued, were permitted
be scattered to the four winds. Virginia must DO TIT
same thing il she wishes TO resumption. Sh
mus, say, first pay specie and then divide profits TIN
amendment proposes that after paying dividends, the,
should employ the remainder Of their profits 10 puchas
specie This suffering them 10 60 on, and obtaiI
advantage Of their wrong-it encourage them
pay their debts and profit by the refusal to pa,
them.
AS to the proportion between paper and specie, tina
was matter which depended upon time and place, ant
great variety of circumstances it did not depend uPor
the dicum Of books of political economists In Virgi
mia, with her extended territory and various manufac
lures, oil requiring large amount of currency for the
purposes of exchange, which currency must from neces
sity remain in crculution and great portion of it ne
YER come back upon the Banks, they were able to ina
mage with five times issues than the Banks OF
York in cities where their circulation confined lc
the mercantile class of each city, and necessarily
coming back repeatedly upon the Banks The latter
in such circumstances would require 10 keep OH hand