Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1856-03-12

the Of that contract agreed advance
ol bonds Selden withers Co. This the Coca.
tccs egg which hatchei all the mischief aud furished
the enemies Of the Board with pretext Tor their dsfa.
nation. What the Tor the Board making that
advance, How came they 10 make IT, when the bonds
Of the State selling at ten per cent prcmiums Why
the bonds not sent to banker in New York, aud
sold at that rate of premium for the benefit Of the State
The answer Is, that would not have been udcious
while the credit Of the State affected by the pressure
resulting from tho unwise action Of the Legislature Had
that mode OF dnsucieng been adopted, the liable Of the
dog and the shadow would have Sccn realized. The
Board found that they had embarked In "guli
stream. and in spite OF the efforts
were impelled onward, until they reached hostile har.
Dor They find themselves in the merciess clutches
OF the present Finance committee, who snite them hip
and thigh. and doing their snnhlate the
otganizaton. But he would submit the House who
thcr from the exposition he had made its better policy
would not be abolish the Finance committee instead OF
the Board of Public Works. Mr. r. briefly adverted to
another Offence" committed by the BoarL They had
caused the likeness TO be printed the bonds
This indeed grevous offence, but no had com.
plcity in it, IL in bad TASTE he would admit but
suggested without his knowedge conuivance by
his lamented friend Dr. Butler then Treasurer Of the
State, and member of tho Board OF Public Works
Mr. r. then proceeded to consider tho bill recommended
by the committee of Finance He said that IL false step
was made by the Legislature only precpi.
tate the bonds Of tho State deeper depreciation than
they have vet reached but will absolutely stop and
mid way, the works of Improvement now in pro-
gSs The object OF the bill take the power
OF the Board ~ negotiate loans and confer upon
er organization composed of five of the pr
sent Board is proposed to remedy the evils which
represented TO exist by organzngs Board OF Commission
ers, embracing three of the very who have or osco
brought about all the trouble This is the great measure
OF financial REFORM brought forth by these gentlemen
ter three months incubation Mr. =. criticised the bill
at considerable length affirming that the ATTORNEY Gene
raj who be included in the Board had official
~ approved the contracts OF the old Board aud was
therefore, pdrtceps eriainis in the charge that the
Board exhibited want OF wisdom in making their
contracts lie then caused 4 communication from the
Second Auditor to be read, heretofore published in
| the Whig.) reply TO the statement put forth
by the Finance committee, that the State would
| probably lose 100000 by the failure of Seldom
Withers Co. That statement in his opinion showed
that the of their Indebtedness secured TO the
uttermost arthng But the committee did put them
selves 10 tile trouble of ascertainng whether not this
S9OOOoo secured the State when they prepared their
report IL would not have answered their purpose to
have ascetained the fact because it be shown that
the Board OF Public Works ought TO De deprived Of the
power to negotiate loans The gentemel look down into
the deep abyss OF eternity they down there
that in spite of all these securities the State must ns
tain heavy loss and they their prediction
to the world Mr. +. had no faith in prophets OF modern
DAYS: He believed not in the prophecies of Joe Smith
and his successors could he give credence even to
| the predictions of the committee OF Finance.
Mr. T. urged the expectancy Of continuing the present
organization 81 the Board reservng them the powers
they now possess, and allowing the members a salary
which will justify them in removing their tamile.
TO the capital. \ division Of the duties and powers
OF the Board, he contended, would be a death-bow
to the cause OF internal improvement. The chair.
man OF the committee who first assuled the Board
was deadly enemy to internal improvement and had
declared than and would get his wheat 10 mar
ke As well as could be done by railroad and when he
raised his voice against the policy the Board all the
opponents OF internal improvement showed themselves
ready TO battle with him, that by their united efforts
they might strike down the Of internal
The delegate from Northampton made himself con.picu.
ou- at that time bv the pursuit OF fifty cents which had
been mproyideny lodged in the pocket of telegraph
| operator lie ierreted out thi. fifty piece re.
captured IT, and brought back safely into the Treasury
Divide the powers OF the Board continued Mr. FL as the
committee propose aud the effect least will be 10 put
clog upon the progress Of internal Improvement and
institute again that system OF log rolling which has been
the of past legislation Were tho friends of inter
nal improvement prepared for thiss Mr.. r. appealed
liso to the opponents OF internal improvements to
nterpose obstacles 10 their completion He assured them
that it, friends will complete the system They will do it
he said, lat all hazards aud the last extremity and Is.
tor its opponents to make it less they
may think best. lie appealed them to Weld to an ia.
eVltaoIe necessity, and not attempt to thwart it.
mr., =, closed his remarks With an earnest appeal in
behalf OF the Board OF Public Works lie enoined the
House not to paryze its usefulness and destroy its very
existence by doping the proposition Of the committee
Finance lie hoped the measure would be voted down.
and the bill which had been proposed by Mr. WILEY sub
sttuted contendiug that it the duty Of the Legisl,
nrs to give the Board fair trial before abrupt, termna
| ting It's existence.
This sketch of Mr.. Floyds speech is necessarily inca
gre aud imperfect The day and night sessions follow
each other so rapidly that but little time is allowed a.
write Oft any debate that NAV occur unless all notice of
the other proceedings Is omitted.
Mr. GARNETT said that he had heard it runored that
he fhance committee was to be mashed up. and pounded
lto ny the gentleman from Washington
- The threatened eXcoriion had come aud however
severe II may have been, tile Finance committee vet ex
IT, ard hopes to survive. The gentleman had minated
that ihe committee would jump similar that
which had been first eel Into by the Boaru of Public
w orks with Seldom Wthers 4 Co. The circumstances
we're changed since that was made The debt
OF the STATE was then sl0OOoOOO whereas the debt
present Is sS5OOOOOO. IL therefore impossible that
prices could be obtained for State bonds which were
obuHnahc several years ago before the addition of near
sldoOhOOo TO the debt of tie State IL Mr. had shown
81 ha had uHn 81. a..
necessary to raise the credit OF the State and repeuh
Treasury, Wa to place him the head the Bpar of
Public Works, aud perait his cOunselst prevail He
spired donteSs for that of laurel of which he
spoke. Mr. O. argued ia favor Of separation of the
financial ami executive powers OF the Bodrl OF
Public Works Under the present organization
the Board was besieged continually aud pressed
vn all sides by contractors and President.
~ internal Improvement companies, clImoriug Oi tle
means To carry on the varou" schemes IL was evident
that under such circumstances, the Board would take
lax view o The laws aud il known that they had al
ready yielded TO the tendency of Oyersteppng the limits
OF the law An objection against the proposed measure
was UaI u Would break dosn the internal Improvement
system OF the state IL expressly provided in the bill
under consideration that the Board of Commissioners
we're to exercise their peculiar functions in raising money
lot carving on those improvements, whenever the BIiu
OF Pubic Works certie- To the lard that
required The gentleman, (Mr FL seemed to argue that
We must have a Board who would oyerstep the law-sbo
wouli not adhere to the law?
Mr. o. referred to the declaration OF Mr. f. that the
nend' OF internal Improvement would complete the
TEN Al al hazards &c. Whenever he heard that de-
clhratou he concluded that'he party was playing bluff
game with the Intention Of backing Mr. believed
that majority Of the people Of this State IN favor
indicous system of internal improvement but he
sure that more than three fouril- of them won be-
shocked at the declaration Of the gentleman from Wash
ngtOn IL might be regarded antecedcnt 20 deter
Wnaon 20 continue the present Board aud finally 10 i-
sue seven per cent bonds the resulting effect OF which
would be TO burden the people with oppressive taxation
Mr. g. was himself in favor of judcous system Of in.
tensl Improvement though representing constituency
Who were indifferent the subject but he would hcrenf
Ter vote Tor no appropriation until the separation he ad.
voc"ted was made. H. not Wiling that the fuau
ca affairs OF the stao should GO at hap-hilard with
IN tho control OF the Board who had habtuay disregsr
ded the law.
Tine sketch Of W. Glrnets remarks is very much con.
den-cd. In the Of h- speech he reiterated and
ampiied upon the allegations contained 10 the lengthy
report Of the Committee Of Finance heretofore published
IN the Whig)
HOUSE OF DELEGATES
n MoSnAT March 10th, 1855
. EYENIHG SESSION.