Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-03-05

thousand dollars at rate Of interest not exceeding six
per ccmt per annun, PROVIDED, that net uorc aa
foarh If that sHn ShaH be requred ariihin tie first
ge7r cact@"rfa tn ssroHd gar: one fourh Tie Mird
y'"r; and o"e t""dd tie fourth gcar after tic Board
II P@d'ic H"rhs saoH DC preparcG 10 commence tie
amt a"nd, o"d n odiiion 10 tic eopal Tins cytntcd.
ihTc sAah """"s'iy ~ Gfpr0priaffI ire INC iomrjh
n mr. PR cest p.id ss' nanuaugby e sorihoides II
ne SfrrTGi EaHhS otHis Commonwealth boans, nna
Th'fh bghe 1 serii"n ~ Meact passed starch - 1857
e"tH'd an net 'SatHshag generat rrguiaiions far tie
'ne"poyaoa If GaaLS d,rscied 10 he e0nrsIied into
Sfo'ks n s"'d H@"h oad 81 muoh IF lie soid 7 Scron
~ me doi Gt0rrSnd Girrcs ME 0priirohnn If said
'on"s IN he manner sad scc:ion ront0intd be and
Mt S"hac . hre6y rpeacd 9ad The bonus aiorcsaid is
hfTfL1 "trefedt IN 6c rad semannuaHy bysaid Eahs 10
he Pf'siffnt ana Directors # the South Bcsiern Rad
fer PeTiad q yenrs, inter HE organization IF said
5oa"S GfoSes"id, shaH be ST opa nnd appropriated 10
The payment II NE Interest aad rrdemption cf tic sock
creoted and prorded for in tbs Secon until the same
is fully disraarged
(sr. DoRMass additions in italics
During the morning session, Mr.. CRuTcmrIELD
opposed The amendment on the ground that IL vas
nothing more nor less than direct appropriation out Of
the Treasury
Mr. JACKSON opposed the amendment. lie contend
ed that TO divert The annually paid by the banks
bonuses from the Object 10 which they now applied
by law, would be breach Of filth towards hose nsii-
banks and required bonuses Of them in consideration
thereof but agreed 10 take the bonus in stock instead
of cash. 1t would violation of u contract made with
the banks TO refuse their stock after having agreed 10
take it.
Mr.. DoRMAs replied TO the argument nd contended
that Il would be no breach Of faith thus IN divert the
bonuses. lie said that ore Of the Bank Presidents
had remarked 10 him lie folly Of the Stale invest
ing her bonuses in stock al 800, which only sold in
market for 500.
Mr.. Cox Of Chesterfield, rose 10 know if there had
not been some log rolling cohogng between the
member from RockhriJre and the mo'nber from 4 me
la. Why was it that the gentleman from Amelia (hr.
llarvie) who generally, WIS knawn, fought his
hook favored this blll2 Had some If the pecu.
liar notions OF that gentleman the subject Of Banks,
been appealed 10 Ivy this endment 10 induce him and
some others To vote for the measure,
Mr.. DoRMAN denied that any such arrangement had
been made with the gentleman from Amelia.
MIR. BEuAprs opposed the amendment and regarded
1t as proposition 10 appropriate 50 nnch money out Of
the Treasury. lie concurred in the pediency Of d.
vertng tte bonuses paid from the direction they
took but he preferred to have them paid INTO the Trca
sury
MIR. RyEs inquired Of the Chairman of Finance (Alr
Dornan) whether bill had not been drawn upbY that
Committee directing that these bonuses be paid into The
Treasury.
Mr. DoRa,S said he would explain. lie had been
ignorant al first that this bonus belonged 10 the Board
Of Puhlic Works and had consequently, mentioned 10
members Of the committee his intention 10 prepare bill
for The payment of the bonus into the Treasury III
ney, instead Of lis being paid in bank stock lie had
written hi,i accordingly, which he had shown in The
House To five members OF the committee. Having at
forwards called the Second Auditor learn from him
the amount Of this bonus, he had been Informed by that
officer that this bonus belonged IN the Fund for Inter
na Improvement Soon after this bill commnG up the
House struck him that the best mode OF disposng Of
this bonus money (Which was by law given 10 The fund
~
this road and hence the preparation of his amendment.
lie urged the proprie,y OF his amendment, and called
the attention Of the House 10 The fact that he only pro-
posed apply the bonuses - tins road for four years
and after that to the redemption of the loan lie con-
tested the expedencg Of further increasing. the bank
inu capital of the State which must be the long
as the present law remained in force As for the South
western road he advocated lis construction great
State measure and not because he his constituents
had any drectinecs in il, for they had not he said,
a ny m than people living 80 r,lles off.
Mr.. RyEs said, If the amendment were adopted,
though reluctantly, he should be compelled 10 vote
against the a.ll lis eiicc. would be TO weaken Tie
baaks at Il time when should be doing every thing
to s,renr hen them. Now they only paid about ,GG0
per annum but by this amendment they wculd have
10 pay upwards Of $4,000
Nlr. HOLIDAY opposed the amendment. Oils re-
marks herealer)
Mr. GoonsoS spoke i'll favor Of the bill and amend
meut The gentleman from Rockbrdge, hc SAID, had
been charged with 5ditag mi coming Tins was moi
50. He charged The opponents OF this bill with billing
and cooipg Nearly every one who addressed the
nr.e ,,,. ;n,er Ind declared himself friend Of The
son,b.wes,ern Rood. They did not. however, prove
,he, r,,andshn he their votes lis friends had brought
~ nran"s,,;on silr pro,oston. in homes of pleasing
,hesa re,,rmen, and vet each was uniformly voted
down We voted Tor the proposition Of the gentleman
from Iouis (GordonsviIlc and lIarrsonburg Iurnpke
we rolled lis logs; did all this without bargaining
for a. bs~rng The snnpo-, of any one for our MEASURE
Va, whom i CONES m. an seem eager 10 XIII il. Mr.
G. though, Ibis far opportunity for the anti bank
men 10 come forward and make step towards sun
ves,,n, the states bonus in M improvemen which
would rebound 10 he honor and bcneG of The whole
S,a,e--which would draw out the immense resources
Of rich but neglected sectlon-which would, by the
,a,is ,ha ,.oud be received pay handsome dividend
;o,o ,ha Treasury lie thought this decidedly prefer.
. orss,;uG !. in bank stock a, 800. worth only
@ .co =
cor sorne further debate between Messrs TAYLOR
= 1h' -, 80 .,,a,dr,or, ,Lo,o n,o,,d