Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1839-01-31

! tucfe16o OF the 1afffi. BY q combination ot the pro-
teciion and cx expenditure interests. Under his amend
ment. Mr.. b. eontended that this combination
would be Destroyed. lie was unwilling TO aban-
| don thc Virginia ground IN reference 10 the Tariff.
and hc expressed his belief that IL the proceeds OF
the Pubic Lands we're distributed, an increase OF the
Tariff would be inevitable. &c.
Mr. Pryton conceived prompt action on this sub
ject so important that he should mol waste lime in
m extended debate. Mr.. L. opposed The substitute
ofMr. Bayiy. on the ground that if adopted. i, would
render the whole proceedings of the House a mere
nulltly. and rcpuaiaicd the novel construction Of the
Constitution which that gentleman had gwen
Though Nj. i. concurrcd IN the tepiobation OF a
Tarii, for protection, he had no fears Of such a i-
sun rs the gentleman from Aeeomae dreaded :
but II the substitute were adopted, such evil might
follow, because the means of great schemes would
be left In the hands of the administrators Of the go
~vernmeui, and temptation Offered TO embark 10 them,
&c.
Mr.. Smith was about TO state his views. when Mr..
Bayly Withdrew his proposition, TO allow that gen
tlcInan an opportunity TO present his amendment.
Nh. 5. admitted that The Administration had been
exiravagant, but ho denied that the expenditures
had been IN proportion TO the income, AMI referred
to the great surplus that had lately been distributed
among the States. He believed that il a fair ac.
count current could be made out, 1t would be found
that Virginia had shared IN the approrriations
made by Congress. lie referred 10 the appropria-
Ton to the Dismal Swamp Canal, to the Chesa-
peske aud OHIO Canal, and 10 the Cumberland
Road, IN answer to the charge that Virginia had re
celscd only ten thousand dollars from the many uu-
constitutional expenditures by the general govern
nent. lie tiled the prosperity ol Wheeling and
Portsmouth, As n result growing out OF these nppro-
priaIons aud the extiDguishinent of HE Indian III
tie IN The South, at the national expense, as adding
much TO the value of the slave properly of the
South.
Mr. Smith denied the constitutional power Of the
general government 10 made the distribution propo-
Sod.
Mr.. Stuart eontfnded briefly that MI. Smiths
statistics presented The best rciuiatiou ofhis own pro-
positions. THAI gentleman had attempted to show
thai Virginia had received an undue proportion Of
advantage form the system heretofore pursued, and
that therefore II must be continued. as the most {.
quail system whiah could be adopted 1t WAS TO OBJ
waite this very injustice, that the plan of equal DIS
%tribnlion was proposed, &c.
Nh. Tyler said lie was too unwell for a general
discussion, and would ask that the subject be laid
over until Monday. But he must join issue NJ once
with the gentleman from Isle of Wight as TO the
benefits 10 Virginia from The expenditures recited
by hun for the Dismal Swamp Canal. Who was
the Stockholder' Whenever dividends should ac-
cruc, they would go into The public fisk, TO he dis
tIbulcd 10 harbors aud MYERS elsewhere. As 10 The
appropriation 10 the Chesapeake and Ohio Canals,
that was considered as lor the ten miles square.
The dividends, when made, would not accrue to Vir-
ginia. They would go IN the usual way into the
National Treasury. The debt of tho District was
taken by Congress, 10 prevent The Corporations from
being actually 'sold 10 the Dutch" They wereres-
cucd from the auotioneer's hammer. The Cum
betland Road run less than Is miles through Viigin-
ia, ard therefore could benefit her but little. In
deed II diverted travel from her territory,
The Notifications At Fort Calhoun and Fort Mon
roe were national objects, III which Virginia had no
more interest Than any other State, They were shell.
ters Tor the Navy, and therefore common property.
II we were indebted 10 the National Government Tor
the increased value of our slaves, We might be made
equally SON another quarter. Texas might put in
an Offset. But Mr.. I. would not go into the gen
eraI question. lie would re affirm the ptoposllon,
that Of the three millions of unconstitutional cxpcn-
dtuses by Congress Virginia hal received but the
paIty sum Of ten thousand dollars, Ile almost re.
erctted that he had asked for indulgence I'LL Mon
day, but he would now move to lay the resolutions
ON The table.
This motion was supported by MIR. Watkins, aud
agreed to.
Nj. Nrnable fom The Select Committee on Banks.
returned tie /" bill to repeal aud amend certain acts
respecting the Banks of tins Commonwealth" with
amendments.
THE original bill. repeats the act of Marcel, 3lst,
1855, entitled an act to suspend the act increasing
the Banking Capital Of this Commonwealth. The
I'd section %suspends for five wears the provision oi
the act " establishing general regulations for the in
corporation OF Banks of March 22d, ls57, which,
prohibits tie issue OF less than $40 notes, and after
July 1910, oil less than $50 notes. The Sd section
0iSpcnSts WIN So mNtn OF TIE acts, as SUBJECTS the
Banks to forfeiture o their charter. Tor failing to re-
deem their notes IN specie; Pr0ridcd that they shall
still be subject 10 pay the damages OF - per cent. per
annum, which they may have incurred. The 4th
section repeats the 10th section of The act "concer-
ning the States proportion of the surplus revenue
Of he United States, and for other purposes. The
9th section provides. that If the Bank OF Virginia, The
Fa,mers' Bank, or the Bank of the Valley do not
in days after the passage OF tins act, accept in
general meeting the provisions of this act, and of the
act concerning the banking capital OF the Com
monweallh, y passed March 25th, 1887, such bank or
banks falling or refusing TO accept, shall not be enll-
tied 10 claim he benefits OF said act.
The amendments reported by the Committee pro-
pose TO allow The Bank of Virginia and the Farmers
Bank of Virginia, each to increase their capital 500
600 dollars, provided they accept the provisions of
The General Banking Law, passed March 25,h,
1887.
1t is also provided, that after the year 1912, the
Treasurer shall make one-third of the States depo.
SITES IN the Exchange Bank of Virginia, and one
third IN each Of the above mentioned Banks.
Several other bills came up on their first and SC.
cond readings. The bill to repeal and amend GER
tain acts respecting the Banks of this Common
wealth, was taken up. with the several amendmen ts,
but on the motion of MIR. Smith Of Isle of Wight.
who stated that il was among the most important
bills before the Legislature. II was laid upon the ia
bic and on Nh. Steyenson's motion, the amend
menls were ordered to be printed,
Ga motion OF Mr.. Jackson, The House adjourned
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