Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1843-01-06
HOUSE OF DELEGAT
WEDNESDAY, JAN'Y 4

ResolreS, That the President Of the James River and
kanawha Company bc requested delay the
To the Treasurer OF this Commonwealth for his signature
any other certificate of debt authorized be issued under
the Act OF Assembly passed 23d March, 1882 entitled IAN
act 10 provide additional cap1 for the James River and
hanawea company and for other purposes until the
GEMS ot said Company can BE- investigated by Joint Com
iiec IT the Senate and HouS of Delegates or separate
Committee Of this House.
Mr.. RANDoLm wished it be understood that he offer
ed the Resolution tho organ OF the Commits. of Finance
and not expressing his Viows. lie gave no opnion ON
the question. lie hoped the House would act deliberate
y and with due regard To ul the great interests involved
The rights OF individuals the interests of the Common
wealth, were 20 be considered II was To bo considered
that the Company had only been able TO obtain credit in
virtue OF the Lawand those individuals who had loaned
their money relying upon the pledge of the state,
uted In the favourable consideration OF the House
Mr. M'SAE observed that the resolution not respon
slve 10 the resolution of yesterday That directed the
Committee inquire into the cxpedicncy Of REQUESTING the
Treasurer withhold his signature, SC But the Com
miiiee instead OF making that inquiry, had reported that
the President OF the Company bonds
signature. lie had another objection TO the resolution Ii
implicitly cast upon the officers of the Company
without assigning any cause lie therefore moved 10 law
the resolution the table.
Mr.. EDNuNDS, of H., could 20 into the merits on
motion 10 Law the table, but he could STATE as reason
against delay that of bonds were issued Saturday
and S3OOOO yeserday-and unless action had now il
would he too late 10 act ALL IL would be like locking
the stabedoor, after the horse is stolen. The matter ser
ousy involved the finances OF the State lie repeated his
CONVICTION that the Company had violated the law 1872
Mr. ANDERSON thought the friends OF the Company
ought ncquiesce in the adoption of the resolution On
position To II had the appearance of anticipating the mo-
posed investigation OF the concerns of the Company lie
mad voted yesterday against the resolution then offered
but this was very different As reputation he
desired II u be universally known that this House will not
IN any shape or form repudaie any Of the obligations of
the Commonwealth. lie repeated this assurance with en-
phasis lie had always been opposed this Improvement
but he was for justice. From such examination as he had
made, he was persuaded that the Company had faithfully
discharged its duty Mistakes doubt had been commit
ted but they were unavoidable in enterprise ri this
He nfrahf fka r. IL
the Company Ia concur in hercSouon; and the Company
should take no new position until the investigation was
Al Mr.. Anderson's request Mr. McRAr Withdrew bis
motion 10 lay the table.
Mr. BooocK was opposed to this resolution and would
state single for his opposition. The President of
the Company Is not the officer OF this House He il the
agent OF the Stockholders and bound obey their wishes
Since 1888 the Company had issued various certificates of
debt-post notes &c. endorsed that they would he cS
changed Tor current notes, 90 bonds of the Company guar
aneod by the State. The Stockholders Were bound TO re-
deem this promise, and they would expect that their Pre-
sdent would inteose obstacle Ii the holders of these
bonds called upon that officer for the guaranteed bonds he
had no alternative, but comply Nith their requson-
Mr. H. considered substantial population for the State
10 refuse TO give Its bonds in pursuance of the law He
dd not come forward the special friend OF Company
lie was the friend OF justice, and favour of preserving
untnTnished the faith OF the Comnonw ealti.
Mr. GARNET had never been nj advocate of rhi. Conn
pany but lac had objections the resolution To obyiatc
those objections he moved amendment TO the effect bnt
the President be requested withhold tho bonds & II
in his opinion the faith Of the Commonwealth will not be
violated nor the interests of individuals and the COMPANY
be injured Mr. g. could for nothing which savoured
Of repudiaiOs.
Mr. EDHUNDs expressed his surprise at the amendment
which he pronounced most extraordinary Refer To the dis
creton OF the President Of this bankrupt Company the
faith of the State He HAD already buried the credi, of
the Company in the Canal and that of the State womb soon
follow suit unless the House nterposed Mr. f. proceed
ed at much length To aragn the whole conduct the Com
paiy, Illegal and wasIeiu and he made statement 10
show that the State bound for the debts of the
Company. lie repudaied reputation but warned gentle
men, that unless they dissolved all xon with this bank
p concern, which had brought the Commonwealth 10 the
OF rum the people would rise in their majesty and
hu out the responsibility Of this House. and send Up fitting
instruments to do the Infamous decd d. epudaie) He
seemed To favour the idea OF closing the mortgage-scing
State account.
Mr. TALAFERRo replied at large o the remarks of Mr.
Edmunds lie animadvericd upon the character of the a
tack upon the Company and the critical period when every
thing pressed, selected mnkngit He conended thar
there was no conneNion whatever between the signing of
these bonds and the investigation which 10 be had into
the management OF the company. What if should turn
out that the had been most censurabe would
That relieve the State from it, obligatonsl Would that Jus
uiy in saying 1t would pay what It had promised To
pay! Would deprive individuals OF the rights arising
under the law Individuals, upon the faith Of the States
contract with the Company, had loaned the Company
ncyif the Company had been extruyagant as alleged by
the gentleman from Halifax, would that release the Satey
What had the investigation, them do with the signing of
hese bondsi Mr. l. expressed his willingness have the
most searching investigation into the Of the Com
panyand heie authorized say such the wish of the
officers OF the Company Mr. T. proceeded yndcatc the
Company from the attacks Of Mr. Edmun aud todwel upon
the Injurious effects OF mparng its credit still more IL had
incurred great loss by the fresh Of last ycarlt had recover
ed from thatand the canal in good condition.
But there 10 hands upon the whole linc-and il small
breach should occur the whole navigation would be in.
stuny arrested As selling the Company he desired
to know, the State would take for it double the sum it
had cost Would II not prefer double the amount
than that the Canal should exist The Company il
said, had violated the law. Mr. r. showed that if there
was any violation It merely technical; and that the
spirit Oi the act had been ngIdy observed The Company
however, had acted by the beat legal advice. Mr.. r.
gardcd any rcu-a the part Of the State comply with
her obligations in this pafticulnr tantamount repu
daion; and the entertaining this resolution calculated
TO induce tho impression that the State might be guilty
that sin, aud thereby bring her good under suspicion
Mr.. EDNrSDs replied to Mr.. Taliafeno-going over
pretty much the ground a. before.
Mr. TAYLOR had not fully made up his mind what course
he should pursue lie ndsposed g. make any ndyan.
u this Company which could be- avoided. But IT the
honour Of the State required II, he should the money.
lie thought the oppositon the resolution calculated
prejudice the Company. he desired it he understood
that he much opposed any urn can be- rcpu.
jaion. lie then, at some length, explained what he
dcstood by reputation.
Mr.. DiurL followed Mr. Taylor in very brilliant
speech, in defence Of the Company and in reply the
guments urged aganstit.
Mr.. EDWUNps replied.
Mr.. GAEStrr's amendment was lost and then the reso.
luton was adopted-Aycs Ga, noes 81.
THURspAy, Jas =, ~.
The following bills were read third time and passed:
of the Town Of Isynchburg.
2. Prescribing the punishment Of slaves free negroes
and muIattocs for poisoning attempting - poison.
On motion u Mr.. SrovALL,
Resoired That the Committee the Library, inquire
int tie oSpediency Of making some distribution Of The
Public Documents the Executive (or ne use NJ The
Commonwealth by the Secretary Of State Of the u. =.
SPECIAL ORDER.
The following resolution came up the order Of the
day.
y...t-J ri, A.. I'm. II I,.,,. f., ;,.,r,,., b.
forthwith consider Of and report this House. the best
mode II mnkng speedy provision for the payment Of the
interest bonds Of the James River and kanawha Compa
n.y. which e due lst day Of January with the view 10 pre-
serve invioate the faith and credit Of the State.
Mcsss. PAEys RASpoirH aud BYRD supported the roso
\ uton-which was adopted ooH,
Mr. RAvnoLrH moved that IL be stated upon The face oi
the rosouton that il was adopted unanimously TO-
On motion Of Mr.. ANDERSON, amended by Mr. SrEoTHER
aud Mr. TAYLOR,
Resoir,d That Speci, Committee Of five be appointed
q Il L.. IL.