Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1857-01-14
LEGISLATURE OF NORTH CAROLINA.
SENATE.

Mr.. Olark from the c0Mustc0 Oh eSAuSasso", -
ported several private bills. <. 80
Mr. Cherry from the committee on banks, Iepof'
ted against the Bank Of Salisbury.
Mr. Boyd, chairman Of the committee on Dnahce'
reported bill to increase the revenue OF the ota,e'
which was read, ordered to be printed, anu naue
the special order of the day for WEDNESDAY "eHt
On motion Of Mr. Cunningham, his Dill a D, =
wing the treasurer to issue coupon bonds OF the de-
nomination Of five hundred dollars, was taken up,
read second time and Mr.. C. advocated tue ON, III
substance on the grounds that those oou a. '' -
hecominp a very important part OF the properly VI
the country and all feel the Necessary Q! resores
n every reasonable and honest expedIent for Keep
inc nm their credit He was convinced that the
measure under consideration would certainly have
snch a tendency-he spoke from his own expe-
rience. and the experience OF others interested.
great argument in favor of the bill! IS the very OBJ
vous fact that widens the field OF competition 1or
the bonds of the State, and proposes to break up
that monopoly which large capitalists have hitherto
,enjoyed. Under the existing system, no one could
invest in these bonds but those who have large sums
of money and the result Of such state of things
is combination on the part of capitalists to prevent
healthy competition and sales by the Treasurer at
rates below the actual worth of the bonds, and be-
low the sums which they themselves often expect to
realize Another reason for the BILL is the fact that
it will cause more of our bonds to be sold at home
to our own people, and thus large number of the
citizens of the State will become directly interested
in its credit The existing state of things compels
us to look to foreign markets for sales of most Of
the bonds Mr.. G.. proceeded to show, that If bis
bill passed. guardians females, mechanics and far
mers, of small MEANS would be glad to invest their
savings and surplus in these bonds.
Mr.. W. R. Myers moved to amend the bill, by
making the interest on said bonds payable in this
State which was rejected; and the bill passed its
second and third readings
Mr.. Eaton, from the committee on corporations,
reported back several bills, of a private nature,
which will be reported as they are acted on.
Mr. Houston introduced resolution authorizing
the loan of a certain amount of money from the
literary fund.- to several institutions Of learning.
Referred.
Mr.. Gorrell reported against the bill to repeal an
act locating the Judges of the Superior courts
The bill to incorporate the Junction and Milton
Railroad Company. was taken up and advocated by
Mr. Hill, of Caswell The bill was defeated by
vote Of 81 to IS.
The committee on public buildings reported bill to
improve the capitol square, which passed its second
and third readings.
Mr.. White introduced bill to establish stand
ard measure of wheat, rye and Indian corn.
Mr. Fennell to incorporate the town of Ellington.
Mr. Person, bill allowing Joshua Small and his
family, Gree negroes} to reside in the county of
Northampton for the space of three years. Mr.. p.
remarked that these free persons Of color who
had moved to this State from Virginia, fifteen years
ago, withou: knowing they were violating our stat
ute law. This bill only gave them time to settle up
their business and go away.
Mr. Chesson introduced bill to regulate fishing
with seins in the Abemarle and Cashie rivers.
Mr.. A. Myers introduced bill to incorporate the
town of Ansonville in the county of Anson
Mr.. A. j. Jones introduced bill in relation to
witnesses and bill authorizing the town of Sarecta,
in the county of Duplin, to sell town common &C.
Mr. Gorrell introduced bill to incorporate the
Lockville manufacturing company.
Mr. W. Fl. Thomas introduced bill to establish
the system of free banking in North Carolina
Mr.. Cameron. a bill to incorporate the historical
society of the University of North Carolina.
The bill to re-charter the bank of the State, was
taken up on its second reading; and the question
pending. was the amendment offered by Mr. Hill. to
make the notes of the bank payable at the bank in
Raleigh. Mr.. Hill withdrew this amendment when,
Mr.. A Myers offered the following, amend.
ment:
Provided al,rags, That if any note notes Of the
said bank shall he presented for payment BY this
bank, or for any bank, or branch or agency of anv
bank, either directly indirectly, it shall be lawful
to pay the same or any part thereof with the note
or notes of the bank, by or for which the demand
shall have been made, whether made at the instance
of the principal bank, its branches agency with
out regard to the place where the same may have
been issued or may be payable.
This amendment was discussed until the Senate
took recess.
AFTERNOON SESSION
The discussion resumed on the amendment,
and participated in ny Mcssrs Wilder, Hill, A. NY
ers, and Cherry. The question then recurring on
the adoption of the amendment,
Mr.. Wilder called for the yeas and nays, and it
was adopted-23 to 81.
Mr. Houston thercupon moved to reconsider the
above vote.
Mr. W. H. Thomas moved to Law that motion on
the table, and upon this motion the yeas and nays
were called, and the motion did not prevail! The
question then being on the motion to reconsider.
Mr.. j. B. Jones called for the yeas and navs,
which resuted-yeas g. nays l6; the question
again recurring on the amendment,
Mr.. Hill called for the yeas and nays, when it was
Mr.. W. H. Thomas moved to amend by compel
ling the mother bank to redeem the notes of its
branches.
Mr.. Eaton opposed the amendment as being un-
just and unusual, and have tendency to greatly
Inconvenience the people in the location of the
branches.
Mr.. Wilder also opposed the amendment, and
showed that its practical effects would be to keep
the branches drained of spece and the notes issued
at distance, must all come to Raleigh to be re-
deemed
Mr.. Clark said the gentleman from Wake had an
ticipated his remarks He had no doubt the bank
would be pleased with the amendment; but he stood
up for the branches and the people in their immedi-
o'e neSn"oi noou-uhoer tnis amendment, they
would become mere agencies. and not Independent
branches; the people at distance would be de.
prived of the specie.
Mr.. Thomas, Of Jackson, supported his amend
ment.
Mr. Cameron opposed the amendment. 1t was
calculated 10 impseri-h The extreme East and the
extreme est All The specie and exchange would
concentrate III Raleigh
MT. Fool opposed the amendment on the same
gronnas. SO, also did MIR. W. H. Myers y.
Mr.. W. Ii. Thomas got the foor again. but was
called TO order lay Mr. Eaten.
The yeas and nays were then taken on the amend
ment, and it was reiected-yeas Z nays ~