Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1858-01-29
VIRGINIA LcYisIaIure,

In the Senate, ON Wednesday, bills we're
reportpd Establishing a branch Of the Meg
chants Bank Of Virginia in Richmond.
This bill is founded on the petition OF c.
r. Slaughter, President of the Merchants
Bank of Virginia, which sets forth that they
believe that additional banking capital Is
needed 10 Richmond, and that it, cit!z"ns
desire other banking facilities than they now
have, and that, moreover, they are satisfied
a fair trial OF banking on the stock principle
cannot be bad until such bank IL establish
ed at tle commercial centre of the State.
The till proposes a capital of not less than
one hundred thousand dollars, nor more than
a million, Il be raised by sale Of new stock,
or transfer Of capital from the parent bank,
or by c0mbination of these nudes, and that
the capital of the Merchants Bunk may be
increased % any amount not exceeding two
millions vf dollars.
To amend an act entitled an act to ex-
ter d the charter Of the Bank VI Virginia, pass
ed March l., 1858.
/. To amend the 18th section of chapter %
Of the Code.
TO amend the 18th section of chapter 5S
Of the Code.
THE changes proposed by the ABOVE OILS
in tue Banks of the State are:
That there shall be a gradual change OF
the prop rtion of com 10 circulation, 50 that
tnere shall be in the Bank, after the l't
January, 1859. one dollar OF coin to four OF
circulation; IN 1850, one of coin To three OF
circulation
Next That in 1852 no Bank shall pay
out o. issue anv note OF less denomination
than So Ia 1860, none of less than $50.
Suspended Banks shall not declare div'-
bends after 1859, during suspension, and en-
forcing such provisions by penalty, OF three
or six per cent on the capital stock OF said
Bank
Appropriating $4,000 Tor the repairs OF
the arms now IN the Arsenal at l. 'SlnSton.
Increasing the capital stock OF the Nanao-
saS Gap Railroad Company.
Orthc Virginia Central Railroad Company.
Providing for the further construction Ut
the Covngtun and Onio Railroad.
Authorizing n further subscription to the
Alexandria. LuudJun and Hampshire Rail
road Company.
resolution was offered authorizing the
County Court OF Orange - borrow sum OF
money not exceeding $4,000. for the pur-
pose of building new Court House.
The Committee OF Roads 20 whom were
red the various applications for aPprC-
nriations to works Of internal Improvement,
submitted a report, Of which tho following
Is a portion:
The first point to which the attention OF
the committee was directed. was the cond.-
ti,n Of the fiuances Of the State, because the
rrouriaty Of making any appropriations to
! works. however meritorious, must necessarily
] IL -, !, ,f tla Il mo u
to meet It's engagement.
Yonr Committee were satisfied. from an
! examination of the report of the First Aud
| tor. that. under the existing rate OF taxatIoh'
! the revenues of the State will be sufficient t.
/ paw the interest on the public debt and all The
! ordinary expenses Of the government and
! leave an annual surplus OF over SooV,UU",
provided the Treasury can be relieved OF a
! floating debt of about II, 100000, arising
! out of the emission Of Treasury notes, q deh-
cheney in the sinking fund"
Among other thugs, the reHor: suggests
| the apprupriation OF the following:
To the Covngton & Ohio Road SSOOOOO;
| Oranse & Alexandria $500 600; York River
! 5000, 900: Norfolk and Petersburg $3.50, OOO;
Manassas Gan S250,00O; Alexandria, Lou
doun d Hampshire 100000; Central SUI,
coo; Extension Of Danvliie 100000.
The bill regulating the inspection Of -four
was taken up, and, after debate, laid upon
the table.
In the House of Dale, yates, bill was re-
ported, authorizing an extension Of the Ma
rassas Gan railroad 10 COvington.
The bill for the relief of the Commonwealth
from the free negro population, was taken up
rs the special order OF the day, and he frIn-
cplc Involved in the measure was advocated