Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1855-01-13
SENATE.
WEDNESDAY, JAN. 10, 1866.

| WEDNESDAY,, JAN. TO- 1855.
Mr. Virgins introduced bill to authorize the
building of toll bridge the Roanoke River at
| the town of Halihx. Read and referred
| Mr.. Fisher, from the committee on Internal I'M
! provements, reported back to the Senate the en-
crossed bill to incorporate the Yankin Plank Road
! company, and recommended that the Senate concur
| in the amendments ofthe Commons.
Mr.. Mills, from the committee on the Lunatic Asy-
| lum reported bill for completing, furnishing and
enclosing the buildings and grounds Of the Asylum.
| Read first time.
| Mr. Wilder from the committee public build
ings reported resolution to purchase furniture Tor
the Executive mansion. Read three times and or
| dered to be enSroSSed
On motion, by Mr.. Boyd, the following resolution
was adopted:
Whereas the opinion is entertained that the
school law, prohibiting the school committees from
employing teachers other than those who have
certificate of examination, has operated to increase
their salaries to eNorbtant rates for remedy wher OF
BE it rcs0iccd, That the committee on education
and the Literary Fund be instructed to inquire into
the eXpediency of modifying the school law as to
permit the school committees to exercise a dscre
tUnary power to employ teachers ot good moral
character, whom they may believe competent to
teach, although they may not have certificate OF
examination.
Mr.. Tayloc, a bill establishing lien on steam
boats, ships and all other vessels for recovery OF
debts against them. Read and referred.
Mr.. Graham, bill to establish library Of docu-
ments for each House Of the General Assembly.
Read first time.
Mr.. Spcight, bill to provide for the payment of
Jurors in Greene county. Read first time.
Mr. Wood bill to confirm grant of land to G.
W. Piggott and his heirs. Read first time.
Mr.. Gilner, bill to incorporate Pleasant Hill
Lodge Of Masons Read and referred.
MIR. Haughton, memorial temperance. Re
ferred.
Mr. Lane, a bill to limit the term of the Chair
of the Board of superintendent of Common
Schools. Read and referred
The bill to incorporate tbs Western North Caro-
lima Railroad company was taken up, and, on mo-
tom Of Mr. Fisher, made the special order for Fri
day next.
Mr. Biggs, from the committee on Revised Statues,
reported number of bills which read first
time.
The engrossed bill to provide Tor the improve
ment of the road leading ON the Wilkes county line
by way of Meat Camp Creek to the Tennessee line
at Walsh's store, taken up and passed
a third time, yeas 80, nays 5-Mr. Martin demand
ing the yeas and nays.
The Senate then took up the bill to construct
ship canal to connect the waters Of Albemare, Cur
rituck and Pamico Sounds with the Chesapeake Bay.
The bill debated and amended, and advocated
by Mcssrs j. b. Jones, Biggs, Cherry. and others;
and then passed its second reading, yeas A. nayS3.
The Senate adjourned.
HOUSE OF COMMONS.
Mr.. Lancaster, from the committee on private
bills, reported favorably on the following bills A
bill to extend the limits of Ashboro' and bill 10
prevent the telling of timber in Big Bush Greek,
county of Aamance.
Mr.. Cansler from the committee on internal i'm
provements, reported favorably bill to author
ize the building of a dam across Mouse River.
Mr.. Alex. Caldwell from the comlnitte corpo-
rations, reported favorably on bill to incorporate
the Charlotte Gas-lght Company and bill to in
corporate the = kinston Female College"
Mr.. Waugh, from the committee propositions
and grievances reported favorably on the "bill to
regulate the weight of salt in sacks and also UNI
favoraby rs,e bill to emancipate jerry slave;
also, untavorably on " a bill to open public road
in Rowan county"
On motion of Mr.. Garland, the bill to amend the
Act incorporating the Mcdowell and Yancey Turn
pike Road Company was re-committed to the COM
mttec on corporations.
Mr. L. H. Williams moved the rules be suspended,
and the bill to incorporate the Bank of Wilmington
be taken up.
Mr. D. F. Caldwell moved the House resolve itself
into committee of the whole upon the bill incorpo-
rating the Bank of W ilmington. Adopted-ayes Al,
&c.
Mr. r. III. Williams felt embarrassed in addressing
the House on q subject of such vast Importance to
the State. His professional engagements left him
but little time to study the subject of banking but
disregarding every personal disadvantage, he would
present his views to the House--strictly avoiding
everything of partizan character in his remarks
Mr. w. then entered into historical account of the
origin of banking in Rome in the 10th century and
gave rapid but clear history of the different banks
from that of Venice established in i55 to assist
the crusadcrs-down to the establishment of the
Bank of England, by Patterson in 1884, to assist
B" C"
He described the first issue of paper in this country
which afterwards called the Continental money
In 1871, the Bank of N. America was formed, and
its successive charter traced through 1851 and
1871. In 1876 the first United States Bank was
incorporated. Mr.. W. stated, the numoer of banks
| in the United States in 1910, was 9O1 in 1854
1908, with circulation of 200 millions. The in
diminuton in the relative value of the cir
! cuating medium has a powerful effect. In the
first case, every element of prosperity is put in
ton, and the public prosperity advances with slim
ulated energy. In the second case, trade angushes
business is stagnated, and keen distress is felt by
the entire community In the constitution of the
Bank of the United States, there were originally,
the elements of party strife-the power was in the
hands of the fcw-it was made political engine,
and while one party praised, the other as loudly
| condemned. The happy mean has been attained at
length, by pedgng the property of the stockholders
for the redemption of the notes.-the people pro-
tected-an overgrown circulation guarded against,
and the banks placed upon their true basis
| Had the United States Bank been based upon
this principle, the distressing scenes of 1887 would
have been spared in the History of the country
The Legislature has to determine what are the