Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1838-02-01

tee on Schools and Colleges was instructed
10 enquire, and report TO this House, wheth-
Ell any, aud II any, what Legislation is expe-
dent and necessary in aid of the regulations
oil the University and Colleges, designed to
restrain the ex'ravagant expenditure Of stu.
dents lhefeat
Tuesday, january 90.
THE CURRENCY.
Mr.. Peyion offered the followi ing resolu-
tons:
ResoiUed, toy the General Assembly OF
Virginia,
lst. That any system having for its object
! the establishment OF stable and uniform
currency, should be modified and controlled
by the existing condition oi the country. and
that any scheme which disregards this nat.
riolic influence, and which instead of strenp-
theung the shattered confidence of the com.
munty Is calculated 10 weaken and sink j,
! still lower, is UNIV Use and inexpedient.
Z. That we view the scheme of an exclu-
sive metallic currency as the visionary dream
oil UtopIan periectionists, unsrited to the di-
vetsilled wants OF our great commercial coun.
try, at war with the liberal spirit of our in
su'utions, antIdeluvian in its concertios and
! Impractlcable in lis execution.
81. That we consider the SUBJ Treasury
scheme as an 'nchoate Government Bank
Tending directly aud inevitably to a consoli-
dalton oil The powers OF the General Goyerc-
| ment, and consequently 10 disturb The eoui-
poise oil our system aud endanger lis stabli-
~.
4h. That We consider the custody and
saiekeeping OF the public revenue by the
Stale banks as more economical. safe and
efficient, and liable TO fewer objections than
any plan vet proposed.
oth. That while we spprove the use of
Banks by the General Government, in the
management of It's revenue, the banks being
designated by Congress instead Of the Exc
cu'ive, we are utterly opposed to such all un-
ION between them as will identify the public
treasury with them and expose IL 10 the vi
cissiIudes, and fluctuations, incident 10 the
Banking system
9th. That system OF deposites which pro-
vides Cln accordance with the JOINT resolution
OF Congress in 1916, and the settled pnlicy OF
me government since its establishment in
1850 Tor the reception of convertible paper
IN payment OF the revenue, which requires
the Banks receiving these dues to pass them
10 the credit OF the Government as SO much
cash, which enjuins upon the depositories
frequent settlements between themselves and
all other Banks with which they may have
transactions, and which imposes upon the De
pesIIories as a condition Of their being en-
ployed, the gradual suppression of all small!
notes, Is the system which most nearly an.
proNimales TO the views Of this Legislature.
I 9TH. That whilst we differ with the Exc
cutive head of our general government unon
ihis deeply interesting and very complicated
subject, we are ready TO pay the same tribute
to the sincerity and patriotism @: his motives
which we claim for our own.
MIR. Peyton said, that in presenting the a.
hove resolutions, he wished il to be distinct
understood, that it was not his desire 10 ex,
cite discussion at this time OF the difficult
subject ofihe currency. lie was allogethe,
opposed TO lie discussion This session he
thought ii wiser 10 iorbear, until tae popu.
lar action of the Spring elections had gwen
US clearer evidences Of the public will. The
agitation of this delicate question would en-.
gender feelings hostile 10 harmonious ca. on.
Grafton for any useful object of state interest
He preferred That the important subject Of
internal improvement should engage the
immediate attention of the House and he
hoped that some dystem worthy Of the State
would be adopted by this Assembly.
the resolutions we-e laid on the table ans
ordered 10 he printed
On Wednesday the bill "providing for the
punishment of gaming in certain cases" W a.
taken up; and after an animated converse
ton 90 the question OF inficting the punish,
ment OF whipping upon white men iounc
gambling with negroes, the bill WAS laid or
the table.