Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1843-01-12
Virginia Legislature.
HOUSE or DELEGATES.


Mr.. Randolph. from tho Finance COMMITTEES.
'Gsrsd the following:
Resolced, Iy the House Of Delegates, That the
Treasurer Of this Comnonw ealth withhold his
ign2tnrs from any other Of the "Guarantee
'ends" authorized by an act, passed 2nd March,
capital for the james River d. kanawha Compa-
ny, and for other purposes" until the invcstiga-
ion Of the concerns OF said Company, by COM
niitee Of this House or Joint committee with the
Senate.
Mr.. Teler asked tina. the resolution lie on the
table.
Mr.. Edmunds suggested that tia resolution was
not according to tho Instructions oil the Commit
tee OF Finance; and on his motion, it was so n
msnssd as to read, that the Committee OIL Fl.
nance DO Instructed to inquire, &c.
MIR. Gallahsr asked il it was designed to act
without the concurrence Of tho Senate
MIR. Randolph said the resolution would speak
for itself. The House could not urdsr-but it re-
Quested.
Mr.. Gal'aher would then vote for no such rcso-
luton. He would not ask An officer Of the State
~ disregard Il law of the Commonwealth. The
proceeding was irregular and understandable.
MIR. Brooke would not vote for the resolution
for nothing could come OF it.
MIR. Edmunds OF H., regretted that opposition
was made to the inqniry. He proceeded, ut seine
length, 20 comment upon the course of the Com
pany. He considered that the law of tho last
session had not been complied with by the Com
Pany. The State was not directly bound to pay
the interest. He thought it disgraceiul to the
House and the State, to he called upon, under the
threat OF reputation, to give more aid to COM
Pany, which has not respected the law. por-
ton OF the funds arising under the Of last ses-
sion had been 'nisappird-and there was no as
surance that more would not be. The Treasurer
signed, last Saturday, $40, 900 of bonds, and Mr.
IL presumed he was still engaged doing so, and
unless the House interposed, the whole $3.50, 900
h,a No 4.
not obligatory; but, in the absence of he Senate.
all that the House could do to guard the interests
OF the State was TO adopt the course proposed.
lie believed the Treasurer would, under the cir
cumstances, heod the wishes Of the House. I'm
less the House held on TO those bonds, tho State
would be Ic.e without any protection against loss.
Mr. McRae suggested to the mover of the reso-
luton, that tho memorial of the Company was
made the order of the day for Thursday next; and
then the whole conduct Of the Company would
properly come under review. He was not pre-
pared to act at this time, and ho presumed the
House was not. lie therefore moved that the
resolution be laid on the table. Lost
Mr. Ialiaferro deemed it very singular claim
OF power on the part Of the House TO require an
Executive officer to set aside law of the land He
denied any such right and thought it was placing
the Treasurer in very unpleasant position to re-
quire him to nullify law or disobey the House.
lie recapitulated the laws on the subject i'm hand
--contracts they were between the State and the
Company. Admit (he sadly that the State had
made bad bargain, as contended for by the gen.
teman from Halifax, would that Justify her i'm
lying from her contract. Because she had the
power, should she be false to her pledges,
should she single out law, and say il
shall be no law, merely because this House did
not like 1t! In wha. light would her conduct be
viewed How would such conduct be regarded
In private life He would forbear to characterize
such conduct. Tie State had given notice 70 all
the world that This Company was privileged TO
BORROW Certain money, and III order to secure the
loan, she pledged herself Tor the prompt payment
81 The interest and ultimate payment of the prin-
cipal. The resolution proposes, that because the
State has not yet signed the bonds, that she
should violate her plighted faith. 1t could not be
contended, that she was not in honour bound
but because her name was not actually signed,
she would profit by that circumstance and refuse
10 redeem her promise. The State too, had a
mortgage upon all the property Of the Company,
and i; was proposed to close ,hat--to exact The
full penalty OF the bond, while she refused to full
I'll her part Of the contract. Mr. Il. could neither
approve nor withhold his strong disapproba,on of
such course.
The Company, he said, had disappointed his
expectations la many things, and he was not pre-
pared to justify, or excuse, all its acts ;-bu; he
would do justice. lie had more relish for an
increase CT taxes than the gentleman from Hall
fax bat he would go as far as he that went far
thest TO maintain unarnshed the good faith of
N"e Stdte. IL snouiu not even be suspected. lie
would discard tho expedient of temporary loans
as disgraceiul, and raise enough to meet all the |
obligations Of the Commonwealth. He had con-
hdence In the integrity of the people of Virginia,
and believed they would sustain their representa-
ives IN pursuing this course.
MIR. Edmunds replied that the Company had
no. complied with the provisions of the law, in
dIverting the bonds to different purpose from
that specified III The act, and therefore there was
no obligation resting on the Stale. The only
question now Is whether the House would sit 81
lent and permit moro of the bonds Of the State to
60 into the hands Of this bankrupt Company
The resolution proposed the only mode OF pre-
venting this evil.
Mr.. Toler. The gentleman from Halifax says
That the State is not bound, because the Company
has violated the law. Where is the evidence OF
such violations None has been shewn, and he
defie1 its production. Bot this blow, he said,
would moi fall upon the Company bu. upon inno-
cent individuals, who relying upon the pied eed
aith of the State, invested money in scrip. The
guaranteed bonds were TO be exchanged for scrip
land the only interest which the Company had
was In fulfilling its and the States promise
MIR. L. repudirted the idea oil one branch Of the
Legislature suspending law upon the staiutebook
Mr.. Parks deemed this most extraordinary
The Law-making power, whose es-
pecial duty it was to. incucate respect for the
laws--asking one Of the Executive officers TO
and extraordinary spectacle. Mr.. =. read the law,
but was compelled by the plain letter of tue
law to sign the bonds; and he could not yield 20
lhis request without departing from his duty.
Nr Call keI r. ,l,o A