The North-Carolina standard., 1842-12-21

225, ,OoC
After paying interest of 2 1-2 per cent the State
would still have 1925, 900 as balance and as all
costs could not in all human probability exceed
$4,000 the State would make by the operation
Sl50,000, not use dollar of its means but only
its credit and at the time relieve her citizens
If however, the ample sinking fund here provi.
ded should not be deemed sufficient, the funds in
the literary board might be pledged for the re-
demption of these Treasury notes or the stock of
the State in the Banks or if not either of these,
then let the State borrow upon Its own credit
S5O0000 In specie and issue these notes upon this
amount bearing no interest but redeemable pre-
sentation at the Treasury. To those who did not
borrow, the l2 per cent. interest upon the Trea-
sury Notes might be paid to holders every year at
the loan offices atthe Treasury in current notes.
if it should be thought best But the simple plan
above proposed is in my view better than either of
the latter. 1t is certainly true, Mr.. Chairman,
that State cannot emit bills ofcredit or paper of
that dcscr ption or character of the old Proc mo-
ney But the legislature may incorporate COM
pany who can issue such Bills; and whether that
company be styled the Bank of Cape Fear or the
Governor and council is a matter of mere moon
shine. All the decisions Of the Supreme Court of
the U. S. seem to make this distinction one in
deed which has become the settled doctrine of the
country acquiesced in by most controverted by
few and resisted by no one. hope therefore that
the amendment now offered to the Committee will
be agreed to, and that the Bill as amended may
receive the sanction of the Senate.
On motion of Mr.. Cooper the Committee rose,
reported progress and asked leave 10 sit again
HOUSE OF Commons
MIR. Bragg from the Judiciary Committee re-
ported the following Bill and recommended that
they be rejected
A Bill securing to Mechanics and others pay
ment for their labor and materials, in erecting
any house or other building.
A Bill to repeat the 18th Section of Gath
Chapter of Revised Statutes, and otherwise to
amend the same
Said Bills were each read the second time and
rejected.
In SENATE-SArURDAY, Dec II.
Mr.. VIM p Williams from the Committee on
the part of the Senate, to alter the Electoral Dis
tricts, reported Bill, which was ordered to be
printed.
Mr.. stallngs presented the following Resolu-
tion, which was read and adopted.
ResolUed, That the Committee on the Judiciary
be instructed to inquire into the expediency of so
the Revised Statutes as to allow special
Administrators to collect debts of the Testator,
and that they report by Bill or otherwise.
message was received from the House of
Commons, proposing to go forthwith into an elcc-
ton of Counsellors of State and inform the
cSA|0'C 4VACSSlSi DuSD6o JOQn A An
derson, Isaac It, Avery, Thomas McGehee, Allen
Goodwin and James p. Leak are in nomination
for the Counsel, which was read and agreedto-
Ihe name OF James Watt of Rockingham Coun-
ty was added to the nomination
The two Houses then voted as follows;
DEMOCRATS.
Henry Fits, Sr of Warren Co. 81;
Henry w. Conner of Lincoln Co. 90;
Richard D. Spaight of Craven Co. 95;
Gabriel Holmes of New Hanover Co. 90:
Alexr. w Mebane of BERTHE, Co "a; a
David Watson of Chatham Co 90;
Thomas n Cameron of Cumberland Co. 95
WHIGs
Johnson Busbee II;
Isaac T. Avery, IA;
James p. Leak, 53
Thomas McGehee, SO;
Allen Goodwin, SO; -
J. A. Anderson, 60;
James Watt, %;
There were several scattering votes given
y both parties which the difference in the