Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1839-01-17
HOUSE OF DELEGATES.
Thursday, Jan. 10.

Select Committee on Mr.. Crockeu's resolution
relative to tho Public Lands adopted yesterday
! lAlr {. declined acting rs Chairman Of the same.
Messfs. Tyler, Jackson, Crockett of w, Watkins,
Stuart, Tnnstall Turner Do,mnn, Stephenson,
Coke. Peyton, Voolfolk and Robertson.
| Select Committee on the Banks, (under Mr.. Ven
ables resolution, adopted Yesterday Mcssrs. Ven
able. Toler. Robertson. Shrnatd, Watts McCon-
nell, May. Smith Of X, Sonthall, Whether, Good
son, Cunningham and Kinney.
PUBLIC PRINTER.
| Mr.. Robertson moved that the House proceed on
to morrow, in con junction with tho Senate, 10 the
election of Public Printer for twelve monlhs-ear-
ried without opposition.
On motion of Mr.. Dorman,
Resolved, That COMMITTEE be appointed To act
jointly with Committee from the Senate, enquire
into the expedrncy Of altering the interior arrange
ment OF the Capitol. and provide for the more
venient accommodation OF both branches Of he Gen
cra Assembly, and also TO enquire into the expcd,
ency Of repeating or amending such laws heretofore
eraced, AZ autloflse the Circuit Superior Court Of
Law and ChaDcefy for the county Of llenrico, to
hold its Courts and keep its Clerks Office in the
Capitol
MIR. Martin offered a resolution inquifng INTO tho
cxpedcncy OF changing tho time OF the meeting Of
the Legislature. from the first Monday In January,
To the first Monday 10 December, and If changing
the elections from the Sd Thursday in April, TO the
Court days of the respective counties.
MI. Radcliffe proposed substitute merely inquir
ing into the Hopriety Of change IN the une Of hol-
ding the elections.
Mr.. Bots proposed the following "a D substitute
for the resolution aud substitute, which being accep
table to Messrs. Martin and Crockett they Withdrew
their respective propositions and it adopted
Resolved That the Committee Of Privileges and
Elections be instructed to inquire into the cNpcdl-
ency of changing the time of holding the elections.
and also Of changing the time of the meeting Of the
Leg isaiure.
On motion Of Mr.. Cunning ham,
Resolved That the Committee OF Roads, &c., be
instructed TO inquire into he expedicncy OF enacDg
an act of tho General Assembly of North Carolina,
entitled act to incorporate the Norfolk and ID
enton Railroad Company, passed December, 22t
1886"
On motion ofMr May,
Resolved, That the Committee OF Counts oil Jus
tice inquire mo the expedlency OF Incorporating a
Company for the purpose OF building an edlhcc TO
be used as ComInereml Re sding Room and FIX
change in the town OF Petersburg
! Mr.. Venable offered the following resolution
Resolved, That the Select Committee on Banks
be instructed TO inquire into the expedlency OF re-
pealing the law entitled an act TO suspend the act
increasing the banking capital OF tins Common
wealth." passed March 3lsl, 1888.
Mr.. Venable said, on offering the above Rcsolu-
tiop that he console red il due to tins House TO make
a brief statement, showing the importance Of acting
at once this subject and showing the present state
and condition OF tho existing Banks rs regards The
increased capital of s. 900 900 provided for by the
passed the 25th day Of March, 1887, well
show that the just expectations OF those portions oil
the commonwealth which were provided for IN that
act ought 10 be AT once complied with. The act A
bove referred provides in the first place for the in
corporation Of the Exchange Bank OF Virginia loca-
ted at Norfolk, the capital Of this institution to be
81 5000 ,000-halft to be subscribed by individuals,
half by the State this bank has gone into opera
ton, and has established lis branches required by The
| law-and has received subscription from the State
| n he
Bank by the same law had $500 600 added TO cap
IIal II has already received subscription from the
State winch has been paid out OF the surplus revc
nue. Of $40 900. and said bank Mr.. " believed has
established its branch or branches required by law
The Bank Of Virginia, by the same law obtained
extension Of its charter increase OF capital. and Is
required to establish branch in the town of Ports
mouth and to furnish additional capital 10 It's branch
! c at Lynchburg. Charleston, Fredericksburg and
DanvIlle. The Farmers Bank Of Virginia. by the
act, had its charter extended, It's capital increased
and Is required furnish additional capital 10 IFS
branches at Petersburg, Lynchburg, Frcdericks-
burg. Winchester and DanviIlc. and TO establish new
branches at Farmvillc, Scoiisyille or Charlottesville
in Albemarle, and one at Abingdon or Evansham in
the southwestern part Of the State. The Bank OF
the Valley had its capital increased its charter ex
tended and was required TO furnish additional capital
to its branches II Leesburg, Charesown, and Rom
ney, and TO establish new branches in Staunton and
Wanenton. Before the day appointed for general
the Farmers Bank of Virginia, and tho Bank Of the
Valley in Virginia TO take into consideration the
cepance of the benefits of the law above referred 10,
these Banks with the Banks Of the Union generally,
suspended specie payments an extia session OF the
Legislature called, and the law far ii alrc-
ted those Banks was suspended until the LIST Of April
1888, It being determined BY the Legislature that du-
ring the suspension Of specie payments, it would be
improper for the Banks 10 make an effort to establish
new branches, and enlarge their business. At the
last session the suspending act was rc-enaced. and
extended to the LIST April, 1889, the Banks had
not then returned TO specie payments. These
Banks being in good condition to carry out the
enactmens OF the law OF the 25,h March, 1887. MIR.
V Influenced to press this resolution this ear
y period OF the session, by the fact that his consu-
enls and all similarly situated as regards this act
suffering by the delays, (which have perhaps been
unavodabe.) which have taken place in its execu-
ton Ii is not intended that this movement shall in
any way aec, the interests of those portions of the
Common sill unpioyded for, desiring an in
crease OF bank capital but only hasten the proper
execution Of the law already passed; and it ought to
be remembered that the whole Of The States sub
scripiion these institutions is provided out Of the
surplus revinue, and 10 possession Of the banks
respectively on loan at five per cent, when the same
banks are dividing among their Stockholders div-
dends at the rate Of TO 10 per cent. per aDnum.
repeat, said Mr.. ", that this movement not inicn
ded to toresta the opinions or the action Of the
House TO further increase Of banking capital 10
which am not opposed iffound 10 be desirable and
expedent--nOt to prevent any change or re nm in
the system of banking in this C0mmo nwealih, Tor |
presume that not member Of this House would, in
his schemes Of reform. interfere with the existing