Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1843-01-20

'eA " inc banks man now provided by law-Also into
e expectancy OF so amending the law passed at the las,
session, TO exclude from the limitation of the indebted
ness by deetos loansmade pledges of stock of the
bank and, ut what pledges of stock may b
as security for such loans, &c.
Also us to the cxpcdcney OF providing by law that
%e winch may be offered collateral security for loans
by the banks, shall be in the Banks ms IN enable
them to iniorce payment thereof.
- by MIR. DANIEL, of r., That the Committee of this
House, ON the part Of the Anoury inquire and repor,
wha' changes any, will be requisite tit that building
Tor school, for Cadets. aud the OF the sanevhat
are he duties now performed by TO Public Guard and the
comparative expense of supporting the present establishment
WIN that required TO support School Of Cadets and the
oi such School TO perform the duties Of the present
Guard-and what will be the additional expense encr,
OF such School e'
PETITIONS.
Mr. GARSErr of the people of Essex for clearing out
distinctions TO the navigation of Pscatayay CeekSBv
Stephens. lazy
FINANCE REPORT.
The Report of the Finance Commute, came nm n, a., ,
OF the day The question pending Mr. Yerby,s motion
To strike out from tho resolution the Committee ali bn,
related 10 the creation of sinking fund
Mr. CRUrcHTIELD adverted the means by which tho
sng Liabilities of the State had been incurred He noticed
ihe lntnaon thrown out yesterday by Mr. Leakc that the
wings had created the public debt lie denied that party
had entered at all into the creation OF this debt was Gre
a'od Tor internal improvemens-and Wing and Democrat
voted together Tor and against appropriations The Internal
Improvement party confined either of the political
parties. Both parties or portions of bot .,,,s ,,e, -
sponsible for the debt.
Mt u then replied to of the posti ans of Mr. RAM
Goph IN reference to the anticipated in value Of State
BONDS lie did not think such result likely be realized
commence might 10 some extent be increased with the
example Of other States before them foreign
would not be 50 conhdng rs some gentlemen supposed
lie thoughit would be well regulate our taxes rs to
pay our floating debt in three four year-and when We
had tested the working Of the new SYSTEM then we obt
provide for the funded debt He was as anxious as any
gentleman To get rid OF the debt but much of was not
yet due Tor three four years Every dav ndmonhed s
against hasty egislation-this work in advance Mr. &
referred - the fact that the charters of the Banks p
expire at no distant day II these institutions were then
wound up the capital Of the State them (about 4 mil
hons) might be usedbut supposed this would he
the case, but the dividends might be increased
MI BYRD ct F. thoughhe approved the general principles
OF the Report was not prepared commit himself To them
without some qualification He suggested difficulties such
as throwing double burden the people He approved
OF the idea OF sinking fund, but he for going step by
sehrst TO provide for the floating debt and then 20 for
sinking fund which would not be burhensome. Mr. B.
proposed the following amendment Mr. Yerby's motion:
TO stko out only part of the words in the rst resolution
and insert others, make it read: 'ThAt
be raised sufficient to meet all the expenses
economically misunderstanding pay punctually and certainly
inc interest on the public debt; and sinking fund
adequate To the Tedempion-ls OF the principal OF the
C"ihohSo1iths hoanng debt IN years; and, 2ndy,
OF lts funded debt years thereafter"
Mr. fERBY asked and obtained consent to add to his
amendment these words pay debt due 10 the Banks
Of tins Commonwealth in years"
Mr. BYRD enlarged upon his proposition and further re-
marks were made by MessH. VERIFY and Crutched rs TO
MIR. STovALL thought the discussion had been long
enough contnuedic called the previous quesuon-but
ut the instance of Mr.. Randolph withdrew it,
Mr.. RANDOLPH and Mr.. WILLIAMS warmly supported the
Resolution Of the Committee and urged the Importance
establishing sinking fund for the relief Of the people and
the credit Of the State
Mr.. HOPKINS also advocated the same views He was
opposed TO MI ByTds amendment being substance
the same with that of Mr.. VERIFY.
Mr.. MooRE, OF C., addressed the House "a follows
Mr. Speaker: As this tragedy has been well played and
he nm md VU.aAE q, a.
lear that my wages may be locked will play the farce
Mr.. Speaker, wish TO return my thanks 10 the gentle
man from Abemare for explaining the word repudiaon
Tor hardly could sleep for nights for began think
It hanging matter; for If was, the people in my section
OF the country would be hung every dnyand for q sink
ing fund to raise money, when it needed, am
ready TO repudiae. We well of ms the gentle
man from Shenandoah (AIr. Wiams) who saws his con-
stents can advance 80 per for before left home
was offered TO take many fat hogs Of neghbos pen
as would pay the small Of dollars tax; therefore,
shall vote for the resolution OF the gentleman from f.
the gentleman from A. will only wait until we pass vsun
on law 30 that property will bring 23ds Of its value
have large pen built here that tire people can be able
to pay. As for sinking fund, no fun in it-tc
sink the people deeper and for another that vii
not vote for sinking, is prophcscd by Mr. Miller that
world Is shortly end, and unless the gentle
man can guarantee that they and myself will have In,
handling Of this fund, think it useless raise it.
Mr. YERBY, tho preieuing his proposition wOulC
accept Mr.. Byrd's amendment.
Messrs LEAKE, Of A., Taylor, Galaher Keen, and Hon
kins, participated in the debate.
Mr. CooTEs called the previous question. Sustained
Mr.. BYRDs amendment rejected: ayes g. noes 50
Mr.. YERBY renewed his amendment.
Mr.. GooDSoN would vote against the amendment, be
cause he believed the object Of it prevent taxing
piia, stocks &c The land and negroes had borne thu
burden long enough-lf the law TO be resisted, let
be-
| Mr.. KEEN would vote for the amendment because hi
people not able to bear the additional taxation yyhic
will be required by the proposed Sinking Fund.
The House disagreed to the amendment by the follow
ing vote:
! YEAS-Mcssrs. Powell Of Amherst Brooke Frazier
Wingfed, Mitchell, Nowkirk snodgra-s, Rocock, Moore
Of G.. & w, Tocr, Novyin, Broadus, Brown, Of l.. g.
w, Garnett, Payne. French Robins, Miles, MRac Bow
dcn Gallnher Parks, Wallace, Edmonds, Of l.. g. r.. Sto
ngs, Carter, Gray, Miller, Of Loudoun, Banks, smith, q
Nansomond, Cabcl, Taylor, Watts erby, Oliver Edqing
ton, Critz, Keen Bennett Dcy Daniel Of Richmond Civ
Moore Of Rockbrdge, White, Of Rockbrdge, Kane Crutc
field, West, Bowis-I7
| NAYS-Me.srs. Hollcman. fgpenkcrl Aiyorth Cust;.
Randolph, Leake, Of Albomarlc, Manu. Cooke Byrd Of
Wilson, Tavonner Stanton, Meredith, Blick, HUBBARD Sa
mue Dennis Hancock, Goodwin, Powell, Of Fairfss
smith, OF Fauqucr Rust, Stockton, Dcskins Muse, Italia
ferro, Wood, Byrd Of Frederick Leake, Of Goochand
Carroll, Calwe, Jones' Sovall Blue, Ward, White, Of n
Basel, Smith, Of Harrison, King, Davis, Of King an
Queen, Halves, Jackson, Marshall, Kidwcl Martin, Nco
son. Jiggits, Tunzey Adoir, Wade, Dychc, Taem Ric,
Bird, Of Pondleon Tomnn, Hopkins Brown, Of Preston
Anderson, Daniel, Of Prince George, Brawncr, Siun
Burwcl Dcnealc, Cootcs, Cownn, Gatcwood William,
Tate spark. Hcdgnan Warren. Spo,ts Henry Goods,
Neal, Lcftwich-75.
Mr. GAFNErr and Mr.. TAYLOR opposed the resolution
| and Mr.. BRowN, Of p, supported IT,
Mr. HERBy moved adjournment II was nearly
o'clockand the subject under confederation, Is the mot
| important that can come before the lIouse,
Mr. mann called the previous question.
| , NJ hRui was proceeding 70 comment on the extrao
binary fact that an immense tax was 20 be imposed upo
the people, without due consideration and debae-hon
| was interrupted ne being out Of order
MI LAKE appealed 10 Mr. Mann 10 withdraw the pr
vious questionas this subject one which was ent
lied 10 the widest latitude Of debate.
Mr. MANI withdrew the ca-but gave it % his opinion
nat much unnecessary time had already been consumed.
The House then adjourned