Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1853-12-21
SENATE PROCEEDINGS on sM,lL NOTES.

MONDAY, Dec. 18th, 1869.
Mr.. SHAcEuFoRD offered resolution Ina, leave bs
given To bring Ia h providing Tor the suppression OF
small notes.
After some conversation Mr. PARKrG moved that tbs
resolution be referred to the committee on Banks
Mr.. CiMPBFLL moved that the committee an ,ank.
bring IN bill on the subject. was a disgrace IN ia,
state That It was not possible 10 carry out law of the
Common wealth 10 this effect
Mr.. MARfiS said there no necessary connecti,n al
TINS special point with the Committee hanEs-as the
small notes complained OF issued by our State
Banks. He thought this resolution might emb4uass the
Committee, which was instructed to enquire into the e
pedency OF authorizing State banks 10 issue small
notes-and this resolution at prccludcS them Mr.
VI. move that the committee on General avs m
ted To bring in 4 bill.
Mr. CANPnfLL-It would be an anomaly in Legislation
to have two committees acting a kindred subject He
was moreover in favor q regular legislation through the
standing committees
Nr SNTn said that the committee on Banks had deter
mined TO take the subject into consideration
Mr.. MARIN, with ths information before him with.
drew his amendment
Mr. SnAcSElrOED had simply wished to draw the at
tenon OF the senate to the Maryland law which had sue
ceeded ~ supprossing the circulation of small notes liz
would accept the amendment Of Vi, CAHPnTLI
Mr. WAEnmoved 10 amend to require IT, commit.
tee to enquire into the eSpency Of reporting bill lie
wished not TO tie up the hands OF the committee hut "a
give them the whole charge of the subject lie was for
regular course Of business and against giving priority TO
any bill. eF'''' ="
Mr. DEvr,LE could not vote for the ,mendrne,, r., h.
ud not believe single Senator opposed TO the sup
precision OF shin pastcrs and small bank notes
MI WADE moved the previous question: which was sus.
"ncd' and Mr. WARD'7 amendment rejected
MI 'RhIGH called the ayes and the r, solul ion
nsruclng the committee Banks TO report bin for tho
suppression II small notes. which was carried
Aft'-Nes5rs Arthur Barnett, lrawncr, Rrarton, Bua
wen, 'impbeh, Chuett Chapman, Deneale Douglas Puu
stem, Grinthnm, Harris Irving, Johnson Jones Iopan
Marshall, Martin, hcDormon. McRhsnncy Noncnre
Mullin, Oh, Parker, Paxton, Randolph Roger Sbncke
White 81. ~ '''' ""u''
Sor,-Mc''r' cregh, Hall, McEenucy, Saunders, T.zo
Mr.. TnoNA' offered resolution iustructnr the Con,
muee on BanE to inquire into the eSpcdencv of autbo
rHng the Banks ufths State based upnn STATE scr,i,i
to issue notes Of less denomination than 80 IN ,bs
amount Of one h Of the specie required be kept the
vaults d said banks
Mr. Tn0u' desired TO send the subject to the Commit
tee. Free banks were on new principle They are 70
CURED to keep onchh Of their capital in specic in their
vaults, and his ojcct to turn that amoup, no l
into useful circulation Tie thourht that IA, issrc al
small notes based on this amount with spece ia ia
would drive the present irah frbm circulation and en
Of small notes.
Mr.. CArtru called the ayes AID noes. lie wished ,b.
the Senate would now give decided vote on this oura
ton a' test lie thought that all these schemes would
only increase the evil
Mr. DNTsir should not vote for tue rcsoluton for h,
was uh"WhR 70 give preference 10 one kind Of banks
and to nase determination against the old banks.
MI THoSA5 repeated hi' views IN favor Of tho rcsol,
ton which really did not auount to discrimination n,
did not desire this permanent measure but for tenn
Poray relet This resolution Of py.i,, does not pledge
/ Senators.
! Nc JoHssos while ready 70 vote fpr this ,esolu,iop
thought the question covered by general resolution al
ready adopted aud before tho committee including thf
and other schemes
Mr TsUwFLl offered n substitute insiructiog the Com
moe on Banks to enquire into the etpcdcncy OF autho
ndng the Banks u the State issue notes Of dcnoml
nation Ices than ~, from and the lot Of July 1854
and iorbddng the crcullOn Of under the denomi
nation on 90 issued by al other corporations aud by In
| dividuals.
Nj TAzwsiL said be could Why this question
vas made party question IIe had been oppO1cd 4
small notes Tor bad circulation always takes the psc
Ola good circuationbut the specie has been iakei
from The State and s substituted by the trash Of rrespon
sblc corporations let State Banks issue small notes
and the Jures o the land will carry out the Law and wip
out the digrace the State fot ia nonerecution .
would DC IN Vs'n othotWife 10 carry out the law
W. SAUNDERS thought the cali for the ayes and NOE
Indicative Of party feeling. FOr himself he would hiv
voted Tor hr SHtCELFFOEDs resolution bad il been on,
Of cp1uiry following the usual course 81 legislation Viii,
a. he wa, he would for III resolutions Of enquiry
even though they were strongly imbued With party
Cum IN calling the ayes and noes had 10 though
Of party lie desired 10 srkc the ball al the hrt hop