Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1859-01-22

the BILL except that they should not b permitted to
ride over other roads than their own without paying
fare. -,
Mr.. Ashe suggested an amendment conaning, the
operations of the bill to roads in which the State was
interested Adopted by Mr. Leach y q: -,
Mr.. Lane moved to indefinitely postpone, and
called for the ayes and noes Rejected 90 to IL.
After further discussion, on motion Of Mr. Leach
the bill was laid on the table for the present
TIE BANK OF N0KrH-cARoLINA.
The bill to establish the Bank Of North. Carolina,
being the special Order taken up on its sec
ond reading. The bill proposes to establish the |
principal bank at Raleigh. The capital proposed is
three millions Of dollars, in shares of 500 EACH
Provision is made for the investment of public funds
the management secured to private stockholders |
The entire provisions of the bill are similar to those
of the charter of the Bank Of Cape Fear
The Senate proceeded to consider the bill section
by section. When the 18th was reached
MIR. Steele offered an amendment providing that |
all the notes issued by the bank or branches should
be made payable and demandable at the principal
were patent to all He was opposed to banks being
placed in position to issue bills here payable say,
at Cherokee. His amendment would have tenden- |
cy to prevent the over issues and to keep the bank
in healthy condition. The Legislature should en-
deavor so to regulate these matters to keep, As
near as possible the issues in proportion to the hard
cash on hand.
Mr. Cherry concurred in the necessity Of specie
basis. But he thought the amendment was offered
as against banks with branches. 1t was indeed a
radical change proposed. If all the notes be made
payable at Raleigh of course all the specie must be
there for branchesr He argued this point at length
and defended branches and showed the hardship
which must result from the plan proposed by the
amendment He suggested an amendment which,
he thought would meet the object Of Mr. Steele
that the principal bank nor any Of its branches,
should issue any bills except payable where IS
sued
Mr.. Steele argued to show that though this plan
should be adopted at the beginning, after while
exchanges of issues &C., would bring about the old
state of things. All he wanted was that when a
man got hold of bill he should know where it was
to be cashed Cited instances Of floods Of bills in
circulation payable at distant points Banks should
make their issues payable at the most accessible
point
Mr. Bledsoe concurred with Mr.. Cherry in his
views of the policy of concentrating specie ut one
point and showed the hardship in compelling peo-
pie at distance to come to that point Mr.. Steeles
plan he thought would not remedy the defect Of
which he complained. 1t would work injustice to
parties at distance and would put the bank at the
mercy Of foreign brokers.
Mr.. Gorrell concurred in the views Of Mr.. Steele,
though he would prefer modification Of his amend
ment. He thought banks ought to be prepared to
meet brokers' especially at the capital Of the State
Cited difficulties in brokers and others getting their
notes cashed at distant branches and contended that
the deprecated value of our money abroad was At
tributable to these difficulties. lie thought good
would result from the amendment, If modified
to require certain proportion of the issues to be
| payable at Raleigh. He suggested an amendment.
that all the issues over s. be made payable at the
principal bank those of IS and under at the
| branches.
Mr.. Cherry followed in opposition to the views of
Mr.. Gorrell
| QUESTION OF PRIVILEGE.
a message received from the House requesting
leave of absence should they require it. for Messrs
Dobson and Martin, to appear before the committee
on privileges and elections to give certain evidence
providing they should not be required to divulge
confidential communications &c.
This led to lengthy discussion on the subject Of
personal privilege, and elected some nice points Of
| parliamentary law. Messrs. Brown, Pool, Cherry,
Ashe Steele, and others participated. The matter
was shortly this Mcssrs. Dobson and Martin were
notified by the committee privileges and elections
of the House of Commons to attend before said
committee which they failed to do; hence the mes
sage 1t was commended in the Senate that this
| notice was not in accordance with parliamentary
law that the Senators might be requeste and that
they had a right to refuse to 60 il they thought
proper. Exceptions were then taken to the right
not asked it for themselves. The question then was
did the Senators desire leave:-and upon this
view the question was settled
Mr.. Dobson gave the following explanation, to
place himself right in the NATTER it might BE- in
ferrcd by the course of the House, that he had
fused to attend the meetings Of the committee.
When notified he promised to attend, and did so,
and met the chairman as he entered the capitol, by
whom he was informed that the meeting had adj.
journed. A second time he was notified to attend
at o'clock in the evening. At the same hour he
had two other committees to attend joint select
and joint standing committee. Yet he neglected
both of these and went to attend the committee on
privileges and elections. and found they had adj
journed for the second time That was the whole
matter He had not refused to attend had prom
ised to attend; and had made two efforts to gel
there to the neglect of other important business
He did not now refuse to 60, and when requested
to attend if the Senate were in session, he would
ask leave of absence.
Mr. Martin desired also to remove any impression
that he had refused to attend He had received two
notices to attend on two OCCASIONS but it was moi
convenient for him to do so, as he was engaged or
an important committee, and in the investigation o
an important State work. He did not now refiis,
to attend. But he considered the message from tn,
House reflection on him and Mr.. Dobson. He hat
told the chairman of the committee [the Reporter
so understood that he knew nothing whatever, o
his own knowledge relative to the subject of in
quiry and he said it was the desire of the commit
tee to extort from him private and confidential mat
tiers, which, sooner than reveal, ne would suffer nj:
right arm to be taken from his body. He said h
: did not now desire leave of absence; when he dit
he would ask for it. or request some Senator to d
so for him.
It being now understood that Messrs Dobson an,
Martin had no objection to attend the committee,
On motion of Mr.. Bledsoe, the message was con
CURED in-granting leave of absence to those Sena
tors to attend should they think proper to do so.
THE BANK OF NoRTH-cARoLINA.
| Mr.. Cherry continued his remarks on Mr.. Steele
amendment to 18th section of the bill He said tn
object of bank with branches would be defeated
the amendment prevailed. Branches stood on an in
dividual footing. His (Mr. Cs) experience wa
against the abuses spoken of by Mr.. Steele. Con
centration of specie was not advisable. AS to tn
objections against banks with branches, he coul
see no force in them
Mr. Leach thought that the principal bank and it