Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1859-02-03

:, thor sources of public revenue and receipts
~. '",,d be applied to sinking fund II the bill
s1ouI provide for any definite som, it would be
sno". As thew could not tell whether the necessary
use to meet it would be realset the treasury;
"hould it not be there then the treasurer would
a aare to he again compelled to borrow, and create
l na of floating debt But it the revenue bill
pv a n,ssed the surplus left after all expenses were
aa y, could be devoted to this fund A sinking fund
paul. paul., On anv other than certainty, amounted to
"'. .hnc The idea of sinking fund, SO long as the
a. increased beyond the receipts was hlacy and
Js,nsion, To be effective the expenditures must
a. lcn within the limits of the receipts. The cor
VT idea was to await action on the revenue bill
~ ~ estimate then could be made with certainty.
ill Nr Elney said the result Of their legislation so
vas to create debt and increase the taxes on the
Ino',e He objected to the bill as providing for the
Ps;nc;,l of the debt-thc present law provided for
r." interest. The people of the State were in debt
sar their taxes in arrears-the shcrl6s were COM
n",eI TO borrow they could not collect from the
psnnle No new facilities were given for the issue
IF money while the present session would sink the
S.,.o million deeper in debt 1t was outrageous
~ talk of creating sinking fund for debts not due
IN thirty years. He was opposed to paying all the
dobts for posterty-for works we might never see
cam,,eted Let every generation pay its own debts
He was for waiting to if the public works would
no nav. 1t was all very we'll to talk Of taxing the
nsopl. to pay for these works-it would do very
w,li for commissioners of sinking fund, and public
,r,s,rers cnsconsed in Office; but let them try.to
mt their plan into operation and they would quick
T. have civil war about them. He concurred rs to
waiting for the revenue bill They had got enough
IA maet-,nore than they could-mure than the pco-
ME would meet The caption of the bill, he said,
talked about the faith and honor of the State No
such thing was required to meet debt not due in
T. D,y.sls At lnnufo IF fharo
WAS no hope that our works would pay, let them
he brought to the hammer and bring what they
will: but if they should pay anything let it 20 into
lac t!,nt to pay the debt about which Mr.. Blcdsoe
was 50 Solietous.
Mr.. EletlSoe was astonished and amused at thepo-
s;,;onS assumed by Messrs Edney and Pool He
saii Mr. Edaey had succeeded in showing that he
dill not know what a sinking fund was and that he
die; not know the wants of the State. After other
remarks on this matter, Mr. b. continued. He was
tired of hearing these appeals to the people about
their being ground down by taxation. lie said the
people were honest; they owed just debt, and if
let alone they would pay it. How was it most east
II to be paid? If sinking flin; had been created
at the time the debt was besur, it would now be
provided for; this had not been DONE and ten years
hal elapsed without any provision being made, and
that the cause Of our present heavy debt.
Why did not the Legislatures meet this appropria-
alton? Because they were, now, afraid Of the re-
sponsi',ity His constituents did not desire to see
this debt rolled on like the huge debt of England.
How those Senator's love the people! Was that
the way to show it? They propose to make them
pay u millions in thirty years, besides the in
tere>t he (r. B. proposes in the bill to make them
pay bnt millions to wipe out the debt of over II
millions. Mr.. Bletsoe continued his reply at con-
siderable length. He reminded the Senate that it
was not proposed to accumulate sum to pay debt
which did not fall due for thirty years 1t fall
I~lA L.. NJ
Pool proposed to pay it as it fell due. Well, eleven
hundred thousand dollars would fall due before the
meeting Of the next Legislature. Was he prepared
t, lay taxes to meet it? No; he would rather issue
bonds to meet it. His votes shown by the record
did sustain his declarations as to taxation 70,
ne was recorded there voting against the revenue
bill for ordinary purposes. As before stated, Mr.
amount of II millions in thirty years, to enable
them to save over 8 millions Let Mr.. Pool 20
buck to Pasluotank and tell his constituents he had
refused to do this.
Mr. Pool replied at some length, in . very able
and ingenious speech. He was followed by Mr.
Elner, and Mr.. Bledsoe rejoined Messrs. Brown
Leach Turner Gorrell Steele and Thomas also took
part in the debate but the great length of the pro
ceeiings of this day precludes further notice. TIT
debate lasted for about five hours
Mr. Edney moved to indefinitely postpone, ant
called for the ayes and noes.
Nj. Be:Eoc moved to lay on the table. Adopted
90 to ~. ..r
On motion of Mr.. Steele, the Senate then ad
journed. .--. ----...
HOUSE OF COMMONS
The House met at 10 o'clock.
RESOLUTIONS.
Mr.. Ferebec offered resolution that message b.
sent to the Senate proposing to adjourn sine die OF
the 14th Of February.
RESOLUTIONS FOR ADJOURNMENT
Mr.. Ferebee said he thought the House had pro
crossed with the public business far enough to b.
able to fix, with degree of certainty, on thu
day of adjournment He did not approve of hast.
legislation. So long as the public business requires
his services here he was willing to stay-no longer
lie said the committees were generally through witt
the bills referred to them Most of the business re
curing attention this session, was before the House
twas therefore, important to fix day for adjourn
ment, that the members might see and know how t
regulate its sittings 1t is true but little has bee
done though the session, at this date, was nearly
long as the one Immediately preceding. The tim
proposed in this resolution would allow ample op
portunity to discharge all the remaining duties Q
the session. Indeed the session Of 545, when tn
entire Code of North Carolina was under review
would not exceed the length of this session. Pei
haps tco it would be we'll for gentlemen to bear il
mind who will be held responsible for unnecessaril
protracting the session lie hoped the resolution
would be adopted
Mr.: Dancy moved to lay on the table. Rejected
yeas &C. nays 4s.
Mr.: Fass opposed the resolution, on the groun
that it was improper to appoint day for final ad
lournment, until the public business was in a NOR
forward state. Hewas opposed to going home, lea,
ing their business undone
MI Fleming was also opposedto fixing day-th
public business was yet backward, and many in
portant bills were to be acted on.
Nh. Meares opposed the resolution.
Mr.. Outlaw spoke in favor Of ADOPTING it and sal
.he Democratic party would be held responsible fo
the length of the session. --,.-r
Mr.. Byrd said he considered the motion as . meI
Wing trick
Mr.. Scales moved to amend the resolution by prt
posing an earlier hour for meeting He was willin
sit earlier and later for the dispatch Of business
and 1t would be found, that when the public bus
ness was got through the Democratic party woul