North Carolina standard. [volume] (Raleigh, N.C.) 1850-1852, 1850-12-18

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section Of country. and he hoprdthe bill would mass
He knew hut lifile aboiif such institutions nd couH
tell what would be the effect Of this amendment,
but he would rather the bin killed once by an
open vote. than have lis efficiency destroyed by CLOGS
and difficulties In The way of amendments.
Mr.. Shepard spoke at some length in opposition IN
the amendment, and in favor of the bill. Hecon
red with The Senator from Halifax that the amend.
ment would defeat the operation of the bill. He ar
gued that there no good reason for this amend
ent, all the Legislature could desire in This regard
was to make the holders of the. notes of the Bank
safe, and this was done inthe most ample manner br
provision in the charter which hound the indivd1
al stockholders in double the amount of their slock
for the redemption of the notes.
MIR. Washington said there was similar provis
ion in the charter of the Merchants Bank at New.
bern. Heavy damages were recoverable Dy no,e
holders against that Bank, in case il suspended and
The fact that that Bank had gone through every mn
meniafy crisis without suspending specie payments
was doubtless mainly attributable 10 this provision
in its charter. He could reason, under The
circumstances. for this amendment. He feared il
would impede the operations OF the Bank, and impair
its usefulness.
Mr.. Speight said he thought we had enough Bank.
ing capital already in the State If this bill passed
our Banking capital would be some four millions Of
dollars, all together; bat it appeared to him that
such institution was needed in Washington, and
he had much confidence in the friends of the meas.
ure. who were,pressing 1t so earnestly. he though,
he shonld vote for it, He offered substitute for The
Directors should not borrow at any one time, or be
indebted 10 the institution at any one time, than
$4,000.
The substitute for the amendment was adopted.
Mr.. Courts doubted the policy of increasing our
Banking capital. 1t now four millions-tbs
would Justify circulation of eight millions, and
this, he thought, was an abundance. Washington
had already Branch of the Cape Fear Bank in
which the State was interested; and if this Bank was
established il would rival the Cape Fear institution
and, the extent of its operations, diminish the pro-
fits of the latter, and consequently the States reve
nue. derived from it. This was no time to do anv
thing calculated to dimnishthe States revenue If
the people of Washington needed extension of
Banking operations, he would vote TO authorize the
State Bank to establish an Agency there, and he
would also vote to request the Cape Fear Bank TO
increase its accommodations and if such a course
on the part of these Banks promised to be profitable
he had no donbt they would adoptit But if, from
any cause these Banks could not accommodate those
who asking for this Institution Notwithstanding
he doubted the propriety of increasing our Banking
capital he inclined the opinion that he should vote
for the bill.
The Speaker here announced the special order of
the day. being the Preamble and Resolution of Mr.
Joyner in relation to the Raleigh and CASTOR Road.
Mr.. Joyner spoke length in favor of his pro.
position, and on his motion the Resolution was
amended and adapted. and select committee of FIVE
appointed prepare bill TO carry out the object of
the Resolution. The committee consists of Messrs
Joyner, Spegbt, Jones, Canaday, and Bynum.
on yesterday, rejecting the Resolution providing for
the halls of the two Houses, was recon-
sfdered and, motion of Mr.. Washington. the Re-
solutions were laid on the table.
The Washington Bank bill again came up for con-
sderation. when Mr. Gmer spoke at some lengthin
favor of bill, and was briefly answered by Mr..
Courts.
Mr.. Haughton then spoke at considerable length
in favor of the bills and in reply to Mr.. Conrts; az
Ter which the bill. as amended, passed its second
reading, by the following vote:
YEAs.-Messrs. Arendell, Barnard, Barringer,
Bower, Bond, eBynum, Caldwell of B., Caldwell Of
NJ Cameron. Davidson, Eborn. GilmeT, Grist, Haugh-
on. Joyner, Kelly, Lane, Mcmillan, Malfoy Nixon,
Fender, Richardson, Rogers, Seasons, Shepard,
Speight, Washington. Wiley and Woodfn--s9.
NAYs.-Messrs. Berry. Barrow. Bunting. Cana
lay, Clarke. Collins. Courts. Drake. Hargrave Her
ing. Hester, Hoke. Jones, .,SherTod, Thompson.
Nootena and Williamson-17.
On motion of Mr.. Gimer, the bill to Law of and
stablish county by the name of Yadkin, was
AIKEN mp and referred TO the Committee on PROPOSE
ions and Grievances, together with snndry memorials
On motion of Mr.. Woodin, the Senate adjourned
MIL Monday morning IL o'clock
HOUSE OF COMMONS.
The Speaker announced the following oentIenen
3 the select committee to consider SO much of tho
Governors Message relates to the Raleigh and
iaston Railroad-M essrs. Saunders Of Wake, Amis,
Martin, Montgomery, and Cherry.
PETITIONS AND MEMORIALS
Mr.. Erwin presented petition from citizens of
!.
Isheviile praying change in the incorporating
hat town. which was referred 10 the committee on
'rivate Bills. Also, memorial praying the repeal
the Revenue Act of 1852 imposing AXIOM
and horse dToyers, which referred 10 the COM
Ditiee on Finance.
Mr.. Gordon. petition praying the erection of new
ounty by the name of Williams, which was referr-
TO the committee Propositions and Grievances.
Ilso, petition praying the iegalizaton OF the mar
ageof Nathan H. and Sedilla Gambiil; which was
sferred TO the committee the Judiciary,
Mr.. Foster of Davidson, two memorials PRAYING
be passage of an act TO improve the road between
lexington and MocksvilIe, which were referred 10
he committee on Internal Improvements
MIR. Douthlt, petition from citizens sof Wilkes
ounty, asking public road be laid off from Har.
ey Ellers' to the Lewis Fork Meeiing House. which
'as referred 10 the COMMITTEES Internal Improve
tents.
On motion Of Mr.. Cherry, the bill TO EXEMPT GER
lin lands from execution, known as the homestead
i'll, was taken up and referred tine committee on
he Judiciary.
Bills AND RESOLUTIONS
MIR. Eaton introduced a bill to incorporate the
oanoke Valley Railroad, running from Gainesville
] Virginia to Ridgeway in North Carolina. which
as referred to the committee on Internal In,nrove
tents.
On motion OF Mr.. Barnes of Nortbamntop the
u 10 authorize the Seaboard and Roanoke Railroad
oInpany 70 issue bonds, taken I'D and nut on
8 third reading. Mr.. Rayner offered IN amendment
hich alter some conversation between Messrs. Saun-
ers. Rayher, and Barnes, adopted, and the bill
assed its third reading.
On motion of MIR. Saunders of Wake. ,be hill to
corporate the Fayeuevilleand Southern Plank Road
ompany was Ia ken up, and read a second time
On motion OF Mr.. Avery. the vote by which the
II concerning the Seahoard and Roanoke Railroad
as passed, was reconsidered, when Mr. Avery Of
red a further amendment. which was ,,don,ad and
cd ITO ri yoad f,,<r4