Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1852-06-18

whether pass the bill not shall kavo pay the
money because the State haa signed the bond.
Fortune irowns The gentleman from Acnlerle. This
James River Company will NOT stand alone IN Iowirp Tho
payment OF ialerest an tie Commonwealth hte bird
has hhwn all the way from Washn2tan 10 perch on nv
arm, and chirp in that the Chcsureske and Oh'n
Canal Company will not be- able pay interest Ihe.
guaranteed bonds The State is bound with that company
for $500 000 which being added The guarantee The
James River Company, of 2.2G0GG0, makes the oi
-'oOV0p which shall have provide The ins,t>, fn
'e Suttcnt years though the gentleman in his remarkable
Speech Pronounced with triumphant confidence thr vas
almost chncrica TO reckun" loss from these abI.s
S he stands elpcd by fact, and "hen he ascrihes tse
nsOfiunes 10 unusual occurrences and neavy cshets let
him einer'ser, That eshrts in the order ratnre and
that it phosoptc to calculate the CT eaSr-
a!ties.
the gentleman spoke with confidence Of The ability
OF railroads .er Interest, ant !lcu,ei The ica
Of csa on occou, ot aur l.t es for Them voGchirc
or n. Ccu;rn nilroaj himself It called upon the
OF ;rfs, the ready. willing and dtiieres'tG wi.
nesses testify in 5elsf Of tnelr a.2r.te rocs F'r
raiir"rt companies toEtd scnfty irr iar sum
OF 0oo The same companies are applicants now Tor
money front The Stare and have ahrs pi>appf"pr'-
ting for their 81 BOP Q02 p'blbv, II We give n.m o.
1nn bern tbs a':- rr may h' ah" "r some e2IS
pas the Interest tc $500 00 for which n" S.te Is
nov ;,on"t SIR. pss'.h''s y h --whr.>s w: pay-
Is nrr debt is sro Wn.,sr our RAJ: Rpnds viii ran
y The a.=rys' tisit u@raa,.rt aJ!s IL ~ragC
n ihr M stc!y ri In. nl
Br.G-r p.,s otr =? - ~ refer l"t"rHdi !hHo"e-
al"n, 10 Inc oc";"n n C"''Fuot f""d. 'a inc
sncl:ci i; t!c G.Iefun"c Brs II rs !: tnnHa' MS.
"sp'ess'd t'c !! ~ says " nc -iir: o. ms -"sr
an;y bnnis rSGer Hnr ri,:uaiy So boHGS
he .srimr.in ii 7,Ici,sets an u.csn nrtirr ".E'y
rSe :rr p:rc!pai value .d rIf:Ic s'!h her enco'se-
ann." II Stout! :on l. cAPecE :" i'c,i': these gunt.
ia.es, wi!n tho u'!.T npni- .! :e 'r;" 'ii !s aen-
sure neither Inc liabilities III. STATE t:Ir I6igt"n.
f ~. c.rno,alJ:;s ri ., increase, .j >ucr
e cpl;Ohs Of .at 6S ngiisheS en! ~ IN" ;Aca Ia
rulcy "i F;t-:rIt How 10 :isy Contrast WIFE
;,i.e Of rtr gsn=naa l!oa Aioenars
Srar been gwen :c n: qGc'tan whether ne
s5. SIS 81 Of STATE h,n!s, rt BY 'te hoa'd II Public
-ad e Literary FHnd s.a DC "rnar!rni'd In ne
estimates for Shaking turd. IL s cenlcd ny ih'-e "h"
assssi the Finance report. "a mt'r question OF
practical fGauce il Is comparatively un'po:iaut II It be
:nc jrJ l- cshlc There Wi: eu paid towards lie rn-
cpal aud interest, per cent YEAR which VIII exn.
;ingn;sE Ike debt het less han thirty iur years
# il l.; .5cueJ there viii paid il ann .al!y, forever
sol S3 S. in the form o; ir.lere5t. lie dirrnce Is zoo
sn,ii occasion an1cy, but question OF constitution
al cInstruc' icn il assnnlss higher character.
know of attquaie for It's exclusion from tho
estimates II is debt vi the wealth, contacted
n,.r -Iacr soennes snd evidenced by s'n'iaE forms,
with any other public debt Tie certIcales ate IN he
snnc words and the Constitution rrovites ihat the State
teb existing on let January lSo2 shall DC lncndcd "a inc
Sinking Flnd But The gentleman from hieEm"r" | hr.
!rpiSSuS holds thu the Constitution Goes not contemplate
me puyincn the debt due the Leisy Fund BECAUSE
that is in conflict with the policy Of The statute creating me
Fund and other statutes AFTERWARDS cnacea bu, ts u'-
puncu i, unsusainabe II is rule Of constfhction thar
.he prevails TO repeal former ne L's'sh
being OF equnl authority The last act Is lsE'n ss no
,orty and without doubt the Constitution reVokes or re-
peus pre-cxsting, incompatible Act o Assembly. Inc
knew OF the existence uf Inc statutes ii II
had dusgnei respect tho policy aud continue the
force express provision would nave oceh mace 10
give effect such purpose but without any exception 10
favor Of the statutes, the general provision requires a OIL
the debt existing ls January lS32 shall DC lnciuIec 10
the Sinking Fund: consequently tas is included
| The gentleman from Aibemarle SAYS. THAI AS r'cd Is
broader than that Of his friend from ichinnnd-OT09aer
,rn perhaps less technical he regards th,se corpora
ions hu! barchcs OF tie public tc:src ihe} are IN
.,nabc OF holding adversely tho STATE, save N l"imi
,ad the ev!rnccs of State debt held by t!s:i fe 'e
,cgn OF the public fifth, appropriate me interest 10 .ne
eurposGs cf educnIn Now, conce6e the hen" u slh
nladec Of tic public filth; but for that oc eScoen e
c sukin, fund other bonds would DO eXcluuea De-
cause all the evidences Of public debt ARE out ps.s ol
3utc faith 10 pay The interest 10 the crldlto 10 sa's
3oud allows remedy enforce the pay nent Oh ue pt
n or ccu,ans promise pay the principal; they ne ta.
ute i.r, tcemable of years. and forever Gi:t re-
.cma,Is AZ the pleasure c The C"nlmon wealth. But Y
ccrufrv W. not intended exclude all Stale bonds oih
me Striking f and exclude these 10, ths .aSn m as "s
anguag. the gentleman, appears 10 DC almost CHI
mecal."
Bat the gentleman Insists that these corporations in.
capable OF hoGing adversely the STATE save III iorm-
Sir humby submit this is capital error The very pur-
TO hold adversely The State. Fur what other purpose
they ceatcdl The property and franchises now held
by the literary fund were vested in tho Commonwealth
Nome asserted adversary claim. She for gHd and me-
rloous consideration determined 10 dyest herself OF hoh
advance the high of education and leach tho
Young idea how shoot" To ENABLE her advantage
ously and efficiently carry into effect her bcne"orn u-
poses created these chartered corporations WIN 'wer
10 grant receive and hold with pG~cr 10 sue abd DC su,d
To ,h"m consideration good and binding in law, ahc
conveyed this property and these franchises for purposes
sprciia the face OF the dced-tc charter. Car Donor
At pleasure revoke gift made under circumstances lawful
md meurious whou! fraud Or prejudice TO others! SIR
the grant made and accepted by parties capable OF cor
tracing willing 10 contract actually c"n'rhc'ing Tor good
md lawful consideration e!nncntly merlicr'us what IS
wanting s complct"n1 What 10 mplrt complete va
idiv? Name can affirm that II was incompetent 10 HE
Commonwealth 10 execute the grant, or tn int corporation
20 accs it. TIE grant made by h' Sa'e AUG o. hc
ID sv The corpori,ion for the benefit o the iittle chti ."
h. State Let the LITTLE children come r:0 me- aEi 'of
III. .arr not. for Of such is the kin4doln ~ G"i
The oa,nn n:Cilth IS the %rannf. ire corporation INC
u.irr and the e children the Beneficiary; us between
nm anu man. would support az action OF dent
IN Culr; OF Law and Eqrly would tccc"e IN" execution
the trust a. the atin;nslra aud distribution I" the
tI,sl fund 1t therefore stands in the category o cent 10
re cumpehenjr in tr enkng fund IL whs so resolved oy
re- uuaninnus the OF the Senate :d cS
ncd BY the committee o. ie ilJuse, 5y bare nao:t! o
Jne Vore
The rcn,eman from Albcn1rlc is 'at Ioss TO c"rrcve
On principle Subscription authorizes " c"rpHnrS o'
whose oIpsr ziti"i nctrne known hc cg1'rd as
,nnch officially in desisn.n Individual ~h" has thus
regarded it. Bat h" clIse ais O. straw, nna
vaany nncrc lei 20 display lis .ri il it. tc";rnct"h
n the finance .cl art is ,rtm cJt:i E1dJ oe-
ncn.ant on nenni1at;on Of hn Cpi"s; atH ~. ''
icnan mas rrf,.ec mi prs;;a II + l'" 'Hh n
,t-,, urupor.n .f ,!s viii p,ooiSY n-"'n" ~"
ara, nf !r I'D !eb, ta,iinr Ct 81 u'c s"'ph ="
4 $500 eco h.Ir ihaE t""-'hirf5 "l Nr WIZ
rnIu: ,ci u which Cal not iii %" c"A"'n'enI: -
re .caiLrian ~ li,,t. ..ec IT,: s'!a'cst aiu:!oi:
Ic Ec.upEp F.rG1E Ph CT