Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1839-03-14
VIRGINIA LEGISLATURE.
- - aH -
HOSE OF DELEGATES.
Ihars9au Ma,fh 7. 1899.

county OF Wythc TO Wyhcvillc, and to inc rporatc
tho same, and an set establish the town Of South
Lowell at the Great Falls Of the Potomac River, Ia
the county OF Fairfax"
PETITIONS.
Petitions were presented aud refereed
On motion Of Mr.. Fcnable,
Resolved. That the Committee Of Courts Of Jus
tice inquire into tho propriey OF 40 amending the
laws CO nccrnibg the Ovcrsccrs of the Poor, M 10
change the time of their annual meeting from the
LIST Monday In June next, to the LIST Monday OF
July.
On motion Of Nj. Corbip,
Resolved That leave be given TO bring In Bill to
authorize the Exec utye 10 lend TO the President OF
Concord Academy, in the county Of Caroline. fly
stand OF arms for the use Of the Students OF said In
sttui,on, and that the President aforesaid be requi
red to give bond aud security for the return OF the
same.
Tho cns,ossed bill Tor the appointment OF two
Commissioners OF The Revenue for The county OF
Patrick, was taken up and passed.
On motion Of Mr.. Ball.
Resolved. That the President Of the James River
and kanawha Company be requested TO furnish the
Legislature n list of the number aud the names OF
the engineers, assistant engineers and odmen gr
er with the clerks and other officers aud agents
neeicd with the Company,wih their respective sala-
hes annexed, and the proportions OF each salary
paid by the State and by tho private subsc ribcrs.
Resolved, That the Presidents Of all the Railroad
Companies. in which the State has interest, be
requested To furnish the Legislature similar iniorna
tim in relation TO The eng necr corps and agents con-
ncccd with tho Companies over which they
preside.
THE BANK BILL.
AT IL o'clock, the order Of the day was re-
sum ed--bcing the bill to repeal ard amend Ger
tain acts respecting the BANKS Of this Common
wealth.
The question pending. was the amendment Of Mr.
Voolfolk, requiring n statement every four months
OF the names OF persons indtbted In any way TO the
Banks accepting this act.
Mr.. Jackson moved TO amend the anne ndmeni, BY
the following proposition as substitute:
BE il further enacted, That the General Assembly
may al all times. through committees Of either
house, o. IN any other manner that siiher house
may appoint examine all or any OF the books &C
counts OF said Banks, or of the individual dealers
with tho same, and 10 require the Banks to make
exhibit OF their names and the amount Of their in
debledness. together with any other information
which either house OF the General Assembly may
desire.
Mr. Jackson sustained his a'nen,nen, in some
brief remarks-and IL was also advocated by MI
VERIFY.
Mr.. Voolfolk earnestly opposed the amendment,
as being utterly uscIeV. and as shielding the Banks
from u just esponsibiliiy.
MI Bots opposed both the amcndmc NJ and snbsti-
tute AZ calculated 10 produce good icsulis. and
as being IN nowse calculated TO elicit correct In.
formation. Mischief might be done by such cx-
position. but no possible good would be produced.
Mr. Watkins would not impose such duly upon
the members Of the House. because they could
know nothing about The subject. Hc would propose
an amendment which would answer the purpose.
The object was TO prevent political combinations,
aud not from any lDqusitorial spirit.
Mr. Voolfolk replied TO Mcssrs VERIFY and Bots,
and urged various reasons 10 illustrate tho danger OF
allowing the Banks deal in secret with the peoples
money-morc Than half The capital belonging to the
State.
A., N,,hy hal
Bank. and never owned any stock, but he though, he
might safely challenge a comparison between tho
Management Of tho Virginia Banks, aud those Of a.
ny other State IN the Union.
Mr. May rcada provision from the existing Bank
law, TO show that all proper information was at all
times at the command OF the Legislature and the Ex-
csul've,Mr. NJ. thought II this did not give due fAc-
tics foi Information, nothing could. lie would vote
against Mr.. Jacksons substitute. and was prepared 10
givo q direct negative 10 Mr.. WooloIk's amendment
lie was ANXIOUS that the latter gentlemen should
have adnect vote upon his amendment, well satisf-
ed that no difficulty would be found by n majority
OF the House in saying No, and still beng able to
look the gentleman IN the face.
Mr. Jackson further defended his proposition and
thought The people had right TO know the entire
transactions OF the Banks. Ile had confidence both
in the Legislature and the Banks As. however, he
was willing TO give the gentleman from Orange
an opportunity 10 get direct voio as desired,. lac
would Withdraw his amcndm,n nj loi the present.
Mr.. Smith OF |. Of W., Gavored the anne ndment
of Mr.. Voolfolk but thought ii should DO modified,
Mr.. 5. then went into an argument OF some length,
show the propriety Of keeping the public informed
the Liability Of the dealers Who usually bought mp
the produce Of the country. lie suggested a InodI-
6catIoD, SO as to require information annua lly in-
stead of every four months.
The modification was accepted BY Mr.. Voolfolk.
Mr.. Crutchfed opposed Mr.. Voolfolk anne nd
ment.
Mr. Bolts enlarged upon his objections 10 the
ouon, and commended that any statement produced
under the requsItion, would he utterly fallacious.
Mr. b. illustrate his view by presenting two cases.
LIST. Suppose amerchant purchased 1000 barrels
of flour from ten different farmers-l00 barrels
from each-Sl0 per barrel. The merchant gives;his
note to each farmer for the price Sl000.-Thc farm
ers take these notes to the Bank, and procure the
money upon them. An exhibit is made by the
Bank under the mendment Of the gentleman from
Orange. what will he the apparent condition Of
things Instead of The real state OF the iraL sscion
being made known, inasmuch rs the farmers are the
last sndorscrs, they appear to be the debtors oil
Bank, when in point oftaci the, had not obtained any
accommodation, and instead Of being debtors were
only receiving the price Of their crops. Mr.. b. al
so presented "A second case Of wealthy merchant
from New York or London, who gave an order 10
his commission merchant to buy 100000 worth OF
flour or cotton or tobacco, and draft is drawn By
the commission merchant IN favor OF the farmer
PLANTER on the New York London merchant
The farmer planter takes this bill to the Bank. and
has it discounted. Will the exhibit under the a.
mendmen ut, inform the House the true charac-
Ter of the transaction So far from tilt exactly re-
verses the case aud represents tho farmer or planter
as The debtor ofthe Bank, instead Of the London OF
New York merchant.
The debate was continued by Mess,s. Smith Of Isle
Of Wight, and Watkins, 10 favor Of the proposition,