Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1859-02-09
The Standard.
LEGISLATURE OF NORTH CAROLINA.

l. Reports from c0mmlCtceS were presented ny
Messrs. Brown, Houston, Lane and Battle.
message was received from the House, trans
| hitting the bill to amend the charter of the Will
mington Charlotte and Rutherford road, and asking
the concurrence of the Senate in an amendment to
the same. Concurred in.
BANK OF THE
On motion of Mr.. Lane, the bill to extend the
charter of the Bank of the State six years taken
up, the question being on an amendmentto limit the
issues to S. and over.
The amendment adOpted-24 to IL.
Mr. Ashe moved to reconsider the vote. He re-
minded the Senate that this bank was largely used
by the State in fepositing the receipts of Sheriffs
&C., which were IN small bills to considerable ex-
tent. If the bank were limited to IS it could not
receive notes of a less denomination. The motion
was rejected.
Mr.. Houston moved to amend by providing that
if the bank shall suspend specie payments for 80
days it shall work forfeiture of the charter, and
providing in that event. that al! assets, effects, &c.
shall be surrendered and assigned for the benefit Of
| the State and individuals.
MIR. Bledsoe moved to substitute go in lieu OF 80
days. Accepted by Mr. Houston.
Mr.. Lane raised the point of order, if amendments
of this kind could be entertained as the bill pro-
vided merely to extend the time of the charter.
Mr. Houston insisted that the bill did not call for
an amendment Of the charter, but was distinct
bill to renew the charter.
The Speaker ruled the amendment in order
Mr.. Lane hoped the bill would not be killed by
amendments but be met OF its merits.
Mr.. Leach opposed the bill.
Mr. Edney opposed the amendment. We could
not get along without banks.
Mr.. Cowper said the object of the amendment
was to bring him out on the vote. He would vote
consistently lie defended the bank
Mr.. Bledsoe said his object in the amendment was
to act in Difference to the will of the Senate express
ed two days ago on this point. He had been dis
posed to place all the banks an equal footing;
but the Senators opposite had thought it best to
! throw safeguards around the bank-they seemed de-
termincd to have them and he had given way and
now they surely could not complain of the same
course being pursued towards this bank Mr.. B.
proceeded ironically to argue the necessity and the
justice and the propriety of the mountaineering
the arguments and the language of the opposition
two days before when they forced the same amend
mcnt on his bill to establish the Bank of North
Carolina In conclusion, he gave the Senator's
ferrcd to, credit for acting in good faith, and he
hoped they would now accept the amendment in
like spirit
Mr.. Edney said this amendment had been put on
Mr. Bledsoe'S bill to defeat it and it would defeat
this. He considered it noperative-it would never
be carried into effect. He offered as a substitute
that the bank shall receive interest any bonds
notes. &C., held by her during the suspension
Mr. Cowper said he had offered the same amend
ment to Mr. BledsoeS bill in good faith.
Mr.. Miller protested against the imputation Of
Mr.. Edncy.
Mr.. Edncy disclamcd all intention of imputation.
Mr.. Steele opposed the amendment unjust I'M
less the bark should have summary judgments in
case of suspension He would vote against the BILL
however, whether amended not. If the bank
was to he reestablishcd he would vote for all amend
ments tending to put it footing with all others,
and then he would vote against the bill.
Mr.. Houston justified the amendment. He had
voted for it to Mr.. BledsoeS bill in good faith and
had offered it now in like good faith. He commended
no bank should be established any other prin-
cplc than that of being compelled to meet her obi
cations. If any should, it would be raising up
monster in our midst. In answer to an objection he
said that if saving the people from injustice would
break down our institutions. in Gods name let
them 60 He was against arstocracy in any and
every shape. He had no fear of our institutions;
he desired to experiment tricd-thc lcgisla-
ture for asserting the rights of the people
these banking institutions. He defended the restrc-
tion-would vote for the bill if applied not other
wise.
Mr. Cherry said the question was whether it was
the intention to extend the charter or not He
thought it best to do The bank had been ably
managed and had been of much service to the State
He saw nothing of the evils seen by others in this
more than any other bank. He thought it better
to continue it till some other system or bank should
be resolved upon.
Personal explanations were here made by Mcssrs.
Bledsoe and Edney relative to remarks made by the
latter.
The amendment was adopted-26 to II.
Mr. Bledsoe Offered another amendment providing
that nothing in the act should he construed as to
exempt the capital dividends property and franchise
of the corporation from such tax as in the opinion
of this or any subsequent General Assembly might
be required.
Mr. Lane moved to amend the amendment by
limiting the tax to such amount may be I'M
posed on other banks.
Mr. Bledsoe urged his amendment His object
to to the State untrammelled power over
all the property of the State. Here Mr.. B. made
another ironical dspay-urging the precise argu-
ments and using pretty much the same language OF
those Senators who had forced the amendment. on
his BILL
Mr., Lanes amendment to Mr. Bleilsoe's was adopt
ed-24 to II.
Mr. Steele offered ENTHUSIASTICALLY
the 18th section of the charter of the Bank of Cape
Fear-providng that if the bank or any of its BRAN
ches shall make demand on any other bank or
branch 1t shall be lawful for such bank or branch
to pay such demand in the notes Of the corporation
making it. without regard to the point at which
they are made payable, first using the notes of the
bank or branch making the demand. Adopted 80
to 10.
Mr.. Steele offered another amendment providing
that the notes issued by the bank or branches shall
be in proportion to the amount of capital at each
branch or at the bank Adopted.
Mr.. Edney moved to amend by locating branch
at Hendersonvilae
Mr. Lane opposed it, as it was proposed to extend
the charter for six years only.
Mr. Edney would rather have branch for six
years than at all. Rejected II to Is.
Mr. Speight moved to amend by making the indi-
vidual stockholders liable to double the amount OF
their stock Adopted
Mr. Bledsoe moved to strike out 'six" and insert
thirty" as the number of years for which the
charter should be extended.
Mr. Pitchford moved to amend the amendment by
striking out thirty" and inserting -four"
Messrs. Lane and Walkup opposed Mr.. Bledsoes