The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1838-11-06


dered to Sd reading.
Engrossed 6iUs,-'ro incorporate Montpelier Fe-
male Seminary--taxing lands in Lowell, EasthaV
en- addition to act taxing lands in Chittenden-
addition to the several acts for the benefit OF poor
debtors-addition act regulating the charerng OF
Enthusiastically passed
Mr. Chittenden called up the bill continuing in
force the charter of the bank of Montpelier, the
question being the amendment of Mr. Beardsiey
requiring stockholders furnish security for the
bills in stocks or mortgages, to the amount OF the
capital paid unsupported by Mr. Dillingham;, and
SENATE O'Clock P. M.
BMs,-relatng to the Bank Of Windsor report
ed and passed--0his bill provides that owners or
stocF shall not be taxed at its nominal but lis rea
value,l abolishing imprisonment tor debt passed
yeas IL nays from tho house laying tax on
lands in Lowell, ordered to a third reading laying
a tax on lands in East Haven, ordered TO third
reading relating to roads, providing that towns
shall not be liable for damages done to bridges, by
loads weighing more than ten thousand lbs. exclu-
sive of the carriage)-oi dered to third reading
to encourage the growing OF silk, called up by MI
Bowen, amended, and ordered 10 be engrossed and
read third time repeating the act giving boun"
ty for destruction Of foxes &C., rejected-rechar-
terng the bank of Bennington, reported by CON-
with endments, which were severaly adopted,
and the bill was ordered to DO engrossed and read
third time, yeas 10 nays y.
HOUSE OF REPRESENTATIVES.
The House resumed consideration of the bill to
continue in force the charter of the bank of Mont
pelier-the question still being upon Mr. Boards
ley's amendments. The discussion was confined
by Mr. BeardsleY, who supported the amen dments
assuming the ground that the additional restrictions
imposed on the banks do not meet the objections
| to the present banking system indeed that no
pains and penalties, no RESTRICTIONS, would prevent
the frauds of bank men, unless these touched their
property-their selfinterest. So far as details
were concerned, he would waive discussion he
would first settle the principles simple one,
which was to provide safety fund to the
tUh IRh fhn nrhI nj
would not meet details might be settled hereafter
In his view, there was spirit of speculation-o
gambling-abroad, which ought not to exist, and
these restrictions were called for to contro9 and
counteract this spirit
Mr. Miner objected to the amendments that they
proposed an entire change in the system, under
which our banks had survived the tempast which
had swept over the country, and had retained, TO
extraordinary extent, the confidence of the public;
and this, he contended was not called for 1t was
found on examination that this bank had ample re-
sources, beyond its capital stock, 10 meet its abili
ties and SO it generally true in respect to
these institutions. In addition TO this security
there still the safety fund and there was also
the power of future legislatures to impose any
checks or guards, and, what he deemed of utmost
importance, there too the restriction upon
loans to the directors. The history of all the
cent failures of banks conclusively proved that
they ruined solely through the loss of their
funds by the failure of officers of the banks. The
new restriction was complete bar To this source of
danger, and was ample security against the recur-
renee OF the evil. Aside, however, fir I'm these
considerations, he had insupeI able objections to
the amendments themselves. They in fact afford
ed no security to the bl-hoders far from it
they would tend to throw the control of the bank
into the hands Of spectators, who owned their
told of wild lands, and the only security the
bill holders would ultimately find, would be noun
tain tracts of valueless SOIL On this point the
people had the experience of Michigan with her
banks, founded on real estate, and yet their bills
worth but 25 and 60 cents the dollar. Before
Mr. M had concluded, the Senate came in and pro-
ceedeu to the election of sergeant arms
And on the 9TH ballot, Cyrus Ware, of Montpel-
Ter was declared elected
SENATE.
Wednesday, Oct. 81.
Mr. Hubbell moved reconsideration Of the vote
of yesterday, rejecting the bill relating to elections
Agreed to, and the bill, after slight amendments
passed.
Bius--to prohibit the sale of spirituous liquors,
the question being on the amendment proposed by
Mr. Chandler, referring the final decision TO the
freemen, it was rejected. Mr. Pierpoint moved TO
erase all the sections of the BILL except the
pealing the license laws this motion was opposed
by Messrs Kittredge, Ranney and Swift, and sup.
ported by Messrs Perpoint aud Chandler, and lost.
Mr. Converse then renewed his proposal of amend
ment, giving the towns authority to license the
sale of spirit. Opposed by Messrs Kittredge and
Ranney, and supported by Messrs Converse and
Robinson, and adopted. On motion of Mr. Kilt
redge, the bill was laid on the table
Mr. Pierpoint called up tho the motion for
sidering the vote rechar,ering the Bank Of Caedo.
Converse, Smile, Harvey Robinson and Perpoint,
the vote was considered, yeas 81, nays 6. The
Senators from Caledonia Co. voting in the negative.
Laid on the table, when the Senate
Adjourned.
HOUSE OF REPRESENTATIVES
Ruis introduced-By Mr. Townsey, authorizing
the trustees of the asy um fpi the insane to draw
upon the treasurer liz Nov. '39 and 40 for the
naming part of the appropriation made to that in.
stution, referred to com ofWays and Means; in
pursuance of leave, bill authorizing selecnen OF
towns to lay out bitches, ordered to third read
ing,
Engrossed BIi-Senate bill, relating to corpora.
tons, amended and passed.
Reports Of Committces-By geni com, against
the resolution to make all persons, between 81 and
40, with certain exceptions, liable to military duty
bill relative to wearing apparel ofdeceased persons
ordered to third reading; bill relative to associa-
tons TO build parsonages, ordered to third reading
Mr. Bradley reported the Montpelier bank bill,
with an amendment reducing the capital stock to
1000, &c.-ad adopted.
The House took up the bill char,ering the Free
bpII ho,, Eel