Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1842-03-03
2'tratnta zrDtoldturr.
HOI 81 or DELEGATES.

Tncasp.f. Feb. q, 1872.
. 4 communication from tho Senate that they had pas
sd the bill concerning John 1hockmorton and others.
with an amendnntt-whch was agreed 10 by thu
House.
JaAEs RirER ,.p k.s,"na CoNPArY.
On motion # Mr.. 1olcr the bill authorizing loan "a
this Company. VAS taken up
Mr.. Culehfed opposed The bill at lafgc. and went
an examination OF the financial condition of the man
agreement Of The Company. lie moved 10 rocpmmi the
bill with the following Instructions
First. that the proposed Loan be applied Il
deem The guaranteed bonds pledged Morrison, Sons
Co.. OF gpuon. and also those said 10 be hyppheoated
with Mercantile House IN Holland. Second, that
when said guaranteed bonds 10 the amount Of tZ5opn
redeemed. they shall be delivered 10 the Treasurer
the Commonwealth To be- 10y him cancelled, IN lieu oi
the State bonds Of t2jD.0DO loaned. Third, that The
balance of said guaranteed bonds shall be- applied 10 the
redemption oi the srnp or post notes ui the Company
outstanding. Fmuth. that tho Company be prohibited
from making any further OF new. NJ fess'o OF scupof
post notes Fun thai the bonds Of the State laned,
shall b. pledged, pawned, hypohocated, Other
wise disposed of except 10y bona fde sales. in pay
mrni of the debts due from the Company shall The
said bonds be al any time disposed Of al less than Their
par value, unless the Board Of Public Work authorize
such dl-pbr5n. Strth, thai no new enlarged con
tracts pr the construction Of the improvement. he made
until authorzedby tho Legislature Sercih, that the
Pr sdcnt and Directors ofihe Company be- made slon
sibIc for the ulflmont Of tie provisions o tho ILL.,
Mr.. Iolcr opposed the motion /, rccommii; first be
cause il was impossible 10 gel meeting Of the commit
tee (Nlr Jackson asked Mr.. 1oler 10 acquit him. lie
had always been pc-cnt) Mr.. 1olrr would not enter
into dti,nee Of the Company. but lac commended that
the action e the legislature two years ago. had been the
cause Of the present embarrassment OF the Company -
lie defended The bill the bcst eAIodi,n for eNriea
ting the Company and subscribing the brs, interests II
the State.
Mr. Dorman replied to the structures Of Mr.. Cnich
field upon the financial condition Of the Company-slow
ng that the condition was greatly more favorable Than
rcprcscniedhy Mr. c.
Mr. {. resumed and called the ayes and noes.
On motion OF Mr. Cap,rtou. tie bill and amendments
wcreald Oh the table until to morrow. Ayes 80, Noes
IS
Tim DnrRIHrrIos FuNp
The order Of The oay. being resolution 10 appoint mn
apeni Ia receive the land fund being iahcn up,
Mr. Holiday offered the following amendments:
Strike ont all after Resolved, and insert: That the
proceeds Of the sacsu the Public ands ought not 10 be
distributed among the States because the Constitution
the nIted States docs not confer Congress any pow
81 To raise money for distribution. either by sale Of the
public lands any other mode because all the
MUGS OF the Government (ncludng the sales Of the pub
he ands) fall shor OF IT'S expenditures, and the Govern
mcnt is now in debt aud actually borrowing money and
brauSc such distribution must lead 10 increase of the
anil, which ought not 10 be- raised in violation of the
compromise act unless the revenue (ucludlng the pro
cccds of the sales oil the Public iands) shall prove IN
sufficient Ia n.u the cNpcmiufos of the Government,
economically administered.
RcsoIred. That a Select Committee be- appointed 10
bring in instructions 10 Senators IN the Congress of
The ned States 10 use their b,st efforts to carry out
these principles
Mr.. II wished the subject 10 be dIsrussod-and To
give time for that purpose he suggested posponeInrni
Of the ordcr-which accordingly done, and made
the order Of the day for Monday neN.
BiHs Passed
To change the time of hohnr the quarterly terms al