Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1859-02-09

amount to meet it would be realized to the treasury
and should it not be there then the treasurer would
have to be again compelled to borrow, and create
more of floating debt. But if the revenue bill
had passed. the surplus left after all expenses were
paid could be devoted to this fund. sinking fund
based on any other than certainty, amounted to
nothing. The idea of sinking fund.- SO long as the
debt increased beyond the receipts falacy and
q delusion 10 be effective. the expenditures must
be kept within the limits of the receipts. The cor
rect idea was to await action on the revenue bill
an estimate then could be made with certainty.
Mr.. Edney said the result of their legislation so
far was to create debt and increase the taxes the
people, He objected to the bill providing for the
principal of the debt-the present law provided for
the interest The people Of the State were in debt
for their taxes in arrears-thc sher,fs were COM
PEELED to borrow they could not collect from the
people. No new facilities were given for the issue
of money, while the present session would sink the
State million deeper in debt 1t was outrageous
to talk of creating sinking fund for debts not due
in thirty years. He was opposed to paying all the
debts for postcrity-for works we might never see
completed. Let every generation pay its own debts.
He for waiting to if the public works would
not pay. 1t was all very well to talk OF taxing the
people to pay for these wOrks-it would do very
we'll for commissioners of sinking funds and public
treasurers ensconsed in office; but let them try to
put their plan into operation and they would quick
waiting for the revenue bill. They had got enough
to meet-,norc than they could-lnore than the poo
pie 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
thirty years. Mr.. Z. continued at length If there
was no hope that works would pay, let them
be brought to the hammer and bring what they
will but if they should pay anything let it 60 into
the fund to pay the debt about which MIR. Bledsoe
sOlieitouS.
Mr.. BiedSoe was astonshed and amused at thepo-
sitions assumed by Messrs. Edney and Pool. He
said Mr. Elney had succeeded in showing that he
did not know what sinking fund was, and that he
did 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. He said the.
people were honest; they owed just debt and if
let alone they would pay it. How was it most east
ly to be paid? If a sinking fund had been created
at the time the debt was begun, it would now be
provided for; this had not been DONE and ten years
had elapsed without any provision being made, and
that the cause of present heavy debt.
Why did not the Legislatures meet this appropria-
alton? Because they were, as now, afraid of the re-
sponSibty. His constituents did not desire to
this debt rolled on like the huge debt of England
How those Senators love the people! Was that
the way to show it? They propose to make them
pay II millions in thirty years. besides the in
tereSt he (Nr. b. proposes in the bill to make them
pay but millions to wipe out the debt of over IL
millions. Mr.. Blelsoc continued his reply at
siderable length. He reminded the Senate that 1t
was not proposed to accumulate sum to pay debt
which did not fall due for thirty years 1t was fall
ing due from year to year, and had to be met Mr..
Pool proposed to pay it rs it fell due Well, eleven
hundred thousand dollars would fall due before the
meeting of the next Legislature. Was he prepared
to lay taxes to meet it. No; he would rather issue
bonds to meet it. His votes as shown by the record
did not sustain his declarations as to taxation. for
he was recorded there voting against the revenue
bill for ordinary purposes. As before stated, Mr..
Bledsoe would tax the people if necessary, to the
amount of /! millions in thirty years, to enable
them to save over s millions. Let Mr.. Pool 90
back to PaSluoank 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..
Elney. and Mr.. Bc,lSoc rcjoined. Messrs. Brown
Leach Turner, Gorrcll Steele and Thomas also took
part in the debate but the great length of the pro-
ccedings Of this day precudeS further notice. The
debate lasted for about five hours.
Mr. Edney novel to Indefinitely postpone, and
called for the ayes and noes.
Mr.. Blctlsoc moved to lay on the table Adopted,
30 to -.
On motion of Mr. Steele, the Senate then ad-
journcd.
HOUSE OF COMMONS.
The House met at 10 o'clock.
RESOLUTIONS.
Mr. Ferebce offered 4 resolution that message be
sent to the Senate proposing to adjourn sine die on
the 18th of February.
RESOLUTIONS FOR ADJOURNMENT
Mr. Fcrcbec said he thought the House had pro
crossed with the public business far enough to be
able to fix, with some degree of certainty, the
Of adj ITn III INF nj
legislation. So long as the public business required
his services here he was willing to stay-no longer
He said the committees were generally through with
the bills referred to them Most of the business re-
guiring attention this session, before the House.
1t was therefore, important to fix day Tor ADJOURN
ment that the members ight sec and know now 10
regulate its sttings. 1t is true but little has been
done, though the session. at this date was nearly rs
long as the one immediately preceding. The time
proposed in this resolution would allow ample OPP
pOrtunity to discharge all the remaining duties OF
the session. Indeed the session of Oh. when inc
entire Code of North Carolina was under review,
would not exceed the length of this session. Per
haps too, it would be well for gentlemen to bear in
mind who will be held responsible for unnecessarily
protracting the session. lie hoped the resoi"''oh
would be adopted
Mr.. Dancy moved to lay on the table Rejected,
yeas 36, nays 4S.
Mr. Fags opposed the resolution, on the ground
TINT it was improper to appoint day for final adj
journment, until the public business was in more
forward state. He was opposed to going home leav-
ing their business undone.
Mr. Fleming was also opposed to fixing day-the
public business was yet backward, and many i'm
portant bills were to be acted on.
Mr.. Meares opposed the resolution.
| Mr. Outlaw spoke in favor of adopting it, and said
the Democratic party would be held responsible for
the length of the session.
Mr. Byrd said he considered the motion as mere
! Wing trick.
Mr. Scales moved to amend the resolution by pro-
posing an earlier hour for meeting. He was willing
to sit earlier and later for the dispatch OF business
and it would he found that when the public bust
ness was got through, the Democratic party would
be as anxious to adjourn any of the gentlemen
opposite.
Mr.. Badham said that the notion as usual. was
about to absorb the entire morning session in dis