Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1851-07-28
PROCEEDINGS OF A MEETING.

| "ioht. NocNrgyman present. The iour.
nal Of Saturday proceedings was read and
approved.
PROCEEDINGS OF MEETING.
MIR. VIM. Smith presented the proceed.
lngs OF meeting held in the county Of
h'ng and Queen, in reference to the Com.
promise. LAID upon the table.
Mr.. Snowden submitted the followip,
resolution which was defeated.
Resolved, That no report which has
been referred tothc Committee on Revision
shall be reconsidercd. altered or modified
IN whole orin part except by a vote Oft two
thirds OF all the members present.
! Mr.. Stanard submitted report from tho
Committee on Judicial Apportionment.
LEGISLATIVE REPORT.
The consideration Of the report Of tho
Committee oithc Whole upon the Lcrisla.
tive Department was resumed.
The question at the adjournment on Sat.
arday was upon the following amendment
offered BY Mr.. Den,a'e, as an Independent
section, 10 come in after tho 9th section e
the 4th article:
"The General Assembly shnll not here
after make loan TO any incorporated Com
pany, nor shall they be authorised to re.
lease any loan heretofore made to any such
Company; but the Legislature may extend
the time ior the payment ofony such loan"
Mr.. Chambliss moved the following as
an independent section, TO be introduced
after the 9Th section: "Tho claims Of tho
State against any incorporated company to
pay the interest and redeem the principal
OF any loan heretofore advanced, or which
may hereafter be made by the State to such
company shall not be released"
Mr.. Neeson moved TO insert after tho
words incorporated company."th the words
'orinsttuton." Agrecdto-aycs 4S, noes
i3.
The question then REQUIRED upon the a.
mendmcnt as amended, and it was agreed
to--ayes So, noes 49,
Mr.. Byrd moved the Suspension Of the
Sth rule, that reconsideration of the vote
by which the 9th section was adopted,
might be had. He stated he done this out
ofcourtesy to Mr.. FinneY who desired to
submit an amendment.
The 18th section reads as follows:
rs. No new county shall be formed
miles; nor shall the county or counties from
which ii is formed, be reduced below that
area; nor shall any existing county. huv-
ing white population less than fyc thou.
sand, be deprived Of more than one fifth
Of lis populotioni nor shall county hav-
ing larger white population, be reduced
| below four thousand: Provided, however,
that any county, the length Of which, is three
times greater than its mean brcdth, and
which exceeds in length fifty miles, may
be divided at the discretion Of the Lcgisla.
ture. In the formation Of any new county,
or in adding portion Of one county to a.
mother, the Legislature shall so provide
that The voters within the limits of tho
county to be formed or changed, shall. in
all general elections, vote in the same cleo
ton district
The Sth rule wa suspended, which, &C
cording to a decision Of the Chair, was
equivalent to the reconsideration.
In that part which reads: "And which
exceeds in length fifty miles," Mr.. Finncy
moved to strike out land, and to insert in
lieu oft the word cor" Agreed to.
Mr.. Summers moved in the first part Of
the section to strike out 600" and to in
scrt il its stead 400" Rejected.
The question being put, the amendment
of the committee Of the whole was concur-
rcd in,
After that portion Of the 9th section
which reads thus: Whenever a debt shall
be contracted after the rstday ofJanuary,
1862, the said officers shall, in like menncf
set apart annually for twcnty-!our years, a
sum equal to eight per cent Of the debt at
the time of its contraction, for the space a
twenty -four years from that time. which
sum shall be apart of the sinking fund, and
shall he applied in the manner before d.
rccted, Mr.. Randolph moved to insert
these words: "Should any debt be con
tracied bearing ratio OF interest greater or
less than 8 per cent? erannum, twopcr cent
additional 10 such annual interest, shall be-
set apart in addition to such interest in lieu
otthc s per cent herein provided" Agreed
to, ayes So, noes 43.
Mr.. Scott OF f., moved to amend the FIRST
portion OF the section, which reads: "Thcre
shall he set apart annually by the auditing
and disbrrsing officers Of the treasury, from
the revenue uccruing from taxation and
the fund for internal improvements, sum
equal to seven per cent Of the State debt
existing on the first day Of January, 1852"
by striking out the words "by the auditing
and Disturbing officers Of the treasury. =
Agreed to.
Several amendments were made to tho
section 10 cause it TO conform with the o.
mcndment just adopted.
In the same part of the section Mn Wiso
moved to strike out the words taxation
and the fund for internal improvements"
aud 10 insert in lieu the words "the annual
revenues Of the commonwealth" Agreed
to.
Mr.. Bird moved to strike out the words
"cqual to per cent" and to substitute ~
their stcads these words--suflicicnt to pay
the interest and--dollars of the primer
pal" Rejected.
! Mr Lyons moved the following as q
substitute for the whole section:
$50 much of the public revenue shaA
he set apart by the Legislature, and made
a sinking fund, as will be sufficient to pay
the interest Of the public debt as itaccrucs,
and discharge the principal when ii be-
comes due. And the Legislature shall
have power to appoint commissioners OF
the sinking fund, and direct the manage
rnent Of said fund BY law; and if the Leg
stature shall fail to appoint such commits
sioners. aud 10 provide by law for the man
agemcnt Of said sinking fund. the Auditor.
Treasurer and Attorney General shall be-
er q6icio commissioners Of the said fund,
whose duty it shall be to apply the said
fund as hereinbclore directed, aud to invest
the said fund in the stocks Of the United
States. Or any State or city stock yielding
SIX per centpcr annun." Rejected, ayes
So. noes GS.