Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-03-05
General Assembly Of Virginia.
HOUSE OF DELEGATES.

message was received from the Senate stating that
they have passed the bill entitled san act to incorporate
the Grady Mining Company, in the county OF Louisa
They have also passed the bill, entitled "an act 10
amend an act for the better organization of the militia,
passed March 8, 1884, with an amendment
The amendment Of The Senate 10 the militia bill, dis
| penses with the fall musers
On motion Of MIR. CRuTCnrELD, the bill and amend
ments were laid on the table.
On Mr. DUNLAP's motion. Resoutd, That the Com.
mittee on Roads &c be instructed TO inquire into the
necessity Of directing the Board Of Public Works to
10 be made survey ola Road from the Salt Sui
phur Springs in the County of Monroe. through the
Counties Mercer and Logan 10 the Kentucky line
| at or near the mouth Of Pond Creek.
Petitions were presented:-By Mr.. WALKER, from the
Trustees of the Washington Academy in the county Of
Wesmoreand asking for an appropriation Of money for
the benefit of that Academy-By Mr. SMITH OF K, from
citizens of Barboursvi!le in the county of Cabe, pray.
ing act Incorporating their town-By Mr.. ToLER,
from citizens Of Lynchburg, Campbell Bedford and Am
hest, praying the passage Of law foIbddng the sale
OF loose unprzcd tobacco, which has not been first
carried to warehouse, inspected, weighed, and the
quantity and The owner name entered on the warehouse
books-Also, from the Common Council of Lynchburg,
praying the passage Of law defining The jurisdiction
Of said Counci and that, it il be already il may
be extended 10 the half mile without and around said
town-By Mr.. CUSsINGHAM, from citizens Of the Bo.
rough of Norfolk, praying that the law may be amend
ed 10 require executions for capital offences 10 be made
in private instead Of the presen, public mode-By MIR.
SHADwICK from citizens of King William, for The
mova of the Courthouse OF said county-By Mr. Boris,
from Ambrose Hutchinson, praying the passage Of law
authorizing the payment OF Of money 10! articles
furnished al the Penitentiary.
BANKING.
Mr.. ToLER Of Lynchburg submitted the following
Resolutions:
Whereas is conceded that the Banking Capital of
this Commonwealth is adequate to its wants and its
resources, and It's essential to the full development of
those resources that the fund for Internal Improvement
be greatly augmented, without resort to additional taxa
a.. halle, I.,nt
that the profits Of banking Capital shall 10 the
whole people Of the Sta,e-rherefore,
1st ResOred, That The Banking Capital Of this State
be increased by the establishment Of new Bank, TO be
called, "The Bank Of the Commonwealth" to be under
the exclusive control of the Sale which, TO this end
shall forthwith borrow five millions OF dollars, in specie
at rate Of interest not exceeding five per cent per
num-That the said Bank Of the Commonwealth shall
be restricted in its issues to three times the amount Of its
con and its deposiles, that is 10 say, to fifteen millions
upon its coin alone1hat the said amount authorised
TO be issued shall constitute Discount Fund.- TO be loan
ed 10 Companies individuals at the rates of interest
established by law subject to the following deduc-
tons, TO w-Wiihin the first year after it shall have
gone into operation, one million of dollars shall be ap
propra,ed by the said bank TO the construction of the
South Western Railroad and on, million Of dol
lars annually thereafter, until the Road shall have been
completed: Prouded, That the sum so Withdrawn from
the Discount Fund of The proposed Bank shall not, in
the aggregate, exceed five millions of dollars.
Resotced, That the surplus of profits upon the issues
OF Tie proposed Dams 81 inc COUW0nlcCdtH, over
and above the amount required TO pay the interest on
the loan Of five millions OF dollars, hereby authorized 10
be contracted, shall constitute interest paying fund
10 meet other liabilities of the State, until the compile
ton of the said South western Railroad and that after
the completion Of the said road, the tolls accruing there
FROM after defrayng the costs repairs
aud other necessary charges together with the nett
fits of said Bank, shall after paying the interest that
portion of the State debt remaining unquidated by The
income from other Of revenue, constitute
Sinking Fund for the ultimate redemption of the Prn
cpal Of the said debt and, after The extinction of said
debt shall 60 into the Treasury with The ordinary
nues of the Commonwealth, and in lieu of that portion
of said revenue drawn from the people by taxa.
ton.
g. RESOLVED, That the Parent Bank shall be located al
land that Branches shall be established nj such
points the exgencies of and the wants OF
the country may suggest or as the General Assembly
may hereafter direct
Mr.. ToLER, on Offering the foregoing resolutions, ex.
pressed his regret that scheme novel and important
in its character had been presented by some oiher
person better qualified explain and enforce its benefits
md defend from assault if indeed it shall meet with
opposition. Mr., I observed that many members upon