Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1839-02-07

-" is 10 nave thc pOw>
or OF amending or repeating the act, and
OF passing any other act for the better gov.
eminent oil any association which may have
been formed under il; saving always the
rights oil The as association TO its monies and
estate, alter paying all debts which may be
due from il.
And, lastly, Such other provisions as in
The opinion of the said Committee NAV he
eXped'ent for the proper regulation and gov
ernment of such associations
Mr.. Smith Of |. of W., offered TO amend
the motion 10 lay on the table, by moving 10
print-to which Mr.. May acceding as a
mended the motion was agreed to.
Mo NDAy, JAN. 2S.
BAN DBILL.
| "A bill "to repeal and amend certain acts
respecting the Banks of this Common.
wealth. reported from the Committee on
Banks, which had been Twice recommit,ed
and reported with amendments came I'm ON
ITS third reading, and was on motion of Mr.
Smilh oil !. of W., laid on the table, and or
deIed, with the amendments, TO he printed.
he bill repeals the act 10 suspend the
ac' increasing The banking capital Of the
Commonwealth, passed Eiarch the 3ls,
lS.3S--it suspen,is Tor the space of five years
The act prohibiting the banks from issuing
notes OF a less denomination than $40, and
alter The lstd day Of July, 1910, of less de-
n'm,naiion than $50. IL dispenses with so
much OF the acts as subject the Banks 10
forfeiture OF their charters for falling 10 re-
deem their notes in specie Provided, That
they shall still be subject 10 pay the DANA.
ges oil IL per cent per annum which thew
may have incurred. Ii repeats The 10Th sec,
'ion OF The 'act concerning the States pro
noftion OF the surplus revenue of the u
states ana Tor other purposes. lis filth and
last section provides that ii the Bank OF Vir-
glhia, the Farmers Bank or the R,nk Of Tho
faiiey do moi ih---days after the passage
of the act, accept, in general meei;ng ia
provisions, and tina, OF the act "concefning
The Banking capital of the Commonweal,b,o
passec March 18th, 1887, such Bank or
banks falling or refusing TO accept, shall
not he entitled to lis benefits.
The Committees amendments 10 The bill
provide, FIRST, that il the Bank of VIRGINIA
and the Farmers Bank oil Virginia, or either
OF them. shall accept the provisions of the
"o' e'iti''eo AN act increasing the Banking
capital OF this Commonwealth passed
march 2oIh. 1897 shall be allowed TO increase
lhe'r capitals respectively, $500 900; and
repeats the 10Th section Of the act of 25tb
niarch aforesaid. Another provision is, that
alter The expiration Of the existing charters
of the Bank of Virginia and of the FnrmerS
Bank, the Treasurer shall equally divide
the public moneys with these two RAIL
anu The branch of the Exchange Bank of
virginia at Richmond, depositing one third
of SAID monies in each Bank
Mr. stephenson on Friday read the fur
Their following amendment, which he intends
to offer when The bill comes up:
And be IL further enacted, That # shall
1 W ia~iu' Tor The Northwestern Bank of
virginia, and the Merchants and Mecban.
les Bank OF Wheeling To issue notes of anv
uehonination not less than one dollar; pro.
Yided such issue shall not at any time ex-
ceed per cent. on the capital stock of
said Bank.
TUESDAY, JAN. %
ONE BANK PROJET.
Mr. Kinney offered the following resoIu.
tons
Resolved, That the Committee on Banks
pe instructed 10 report d bill incorporating
state Bank with The usual banking priyiie-
ges upon The following principles
l. The capital OF said Bank shall be SO,
ooo,ooo, founded upon The money, stocks
ana credit OF the wealth erclusiue.
~, with liberty 10 the Legisla ture 10 increase
from lime TO time the capital OF said Rank
z That the mother Bank be located q,
Richmond, and Branches established al sur h
points as the Committee deem expe,lient.
8. The faith of the State shall be pIedged
Tor The redemption OF all the notes issued bv
said Bank
| The profits or dividends of said Bank
shall constitute fund for the payment of the
interest and a sink ing fund for the repayment
OF debt to be created for works of Internal
Improvement and Education, and after the
discharge OF said debt, 10 defraying The ex.
penses OF the Government, or such other
purposes as The Legislature shall see proper
TO appropriate them
! 5. The said Bank and lis branches shall
be The depository Of all The funds of The
! Commonwealth
| Mr.. Kinney moved that they he laid on
The table, stating that be would call them up
when proper opportunity offered, which
was agreed TO, and on motion of Mr.CoXe.
The resolutions were ordered 10 be prin,ed
WEDNESDAY, JAN. 80.
| PUBLIC LANDS.
| The following are the resolutions as thew
finally passed the House