Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1859-02-23


ner and Miller
Mr. Worth supported the amendment It was
impossible to tell what would be the monetary con-
dition of the country and other provision had
been made to meet the liabilities the failure to sell
at par would bring dishonor on the State. That
was too great risk to run.
Mr. Mcdonald thought the debts could be provid-
ed for out Of the sums going into the sinking fund.-
Mr.. Turner said the treasury was so managed as
to allow capitalists TO shave it. ~
Mr.. Bledsoe asked if Mr. Turner meant to say the
treasurer managed the treasury?
| Mr.. Turner said some of it was brought about by
the treasurer, but more of it by the law. he did
not mean to reflect on the treasurer.
The Senate then took a recess.
AFTERNOON SESSION, 8 P.
The debate was resumed at o'clock, Mr..
| Bledsoes amendment
| Mr.. Cowpcr supported the amendment The debts
had to be met He considered the treasurer an hon
| orable man, and would vote for the amendment.
Mr. Turner followed. He suggested to the friends
of the bill that the States stock in the banks could
be sold in the event of the bonds not bringing par.
| 4 Senator suggested that the State had no stock
in banks what was there belonged to the literary
fund
Mr. Turner did not care what fund it belonged to-
| He would sell out the literary fund, or any other
| fund rather than take this course.
| Mr.. Cowper reminded Mr.. Turner that our State
bonds were now at but 9sl. He was at a loss to
know where the money was to come from if the pro-
posed bonds could not bring par when put into mar
kct though he feared the amendment would have the
effect of iniuring credit.
Mr. Brown did not concur with Mr. Cowper in
regard to the effect upon State credit. On the
| contrary, he believed it would have the effect of
raising our credit by showing that we were deter
mined to meet our engagements at whatever sacrl-
fee We had the markets of the whole country to
look to- and he did not think the bonds would be
sold for less than par because the monetary affairs
of the country recovering from the late de-
preston daily. Another reason he had for this be-
lief-the passage of the bill with the amendment,
as it would be pledge and guarantee to the world
that the State not going to suffer her credit to
be mpared-that under no circumstance and at no
sacrifice would she rcpuate fail to meet her liza
bilities This of itself was sufficient to keep up
our credit. But suppose the bonds had to be sold
for less than par? Let them be sold-at any sacri
fice-to save our credit. If the treasurer should
not receive the proposed power, and the demands
are made upon him, and he has nothing to meet
thcln-then would follow depreciation. repudiation
disgrace The very idea that he was destitute of
the means Of meeting the State liabilities would
bring about extreme depreciation. And the very
idea that he had given to him this power woull at
once cause the reverse of what seemed by some to
be dreaded
The amendment was then adopted by vote of
25 to 10.
Mr. Turner offered substitute for the bill, pro-
vidns that the bonds should be of various amounts
and be made payable IN Raleigh. lie discussed this
amendment for about one hour.
MesSrs. Steele and Brown briefly replied.
Mr.. Turner followed in another long speech
The amendment was reiected-aye, Mcssrs. Bat
tie, Leach, Mcdonald Miller, Turner and Walkup.
No, 81
An amendment, Offered by Mr. Cowpcr, that one
fifth of tile proposed amount should be in S1G0 and
$500 bonds was adopted-26 to y.
The bill as amended then passed unanimously.
The discussion of this matter consumed the time
from ! to s.. o'clock-McssrS. Turner, Leach and
Miller evidently talking against time.
ROCKINGHAM C0ALFIELDS BILL.
This bill was taken up on its second reading.
Mr.. Leach offered an amendment that if hereafter
the company should ask for an appropriation they
should forfeit their charter
Mr. Eoyd had no objection to the amendment, as
it was not intended to ask appropriation.
The amendment was, however, rejected almost
E unanimously.
! Mr.. .Ashc offered series of amendments, at the
suggestion of the friends of the bill-canging the
title to Dan River Coalfieds Road, and providing
that the road should commence at some point on
the Virginia line, near Danyille
Mr. Whitaker offered an amendment that the road
should not come nearer than % miles OF the North
Carolina Railroad instead of 90.
Mr. Boyd objected to this amendment. Rejected
The amendments of Mr. Ashc were then adopted
Mr. Ashe explained that he opposed to the
Danvic connection out and out, but that this bill
was very different affair. 1t merely intended
to enable the people of considerable tract of coun
try to get their produce to the Danville road
Mr. Boyd said the people of Rockingham much
. preferred the road from the Coalfelds to Greens
boro. But seeing hope of that he accepted tho
bill as amended Ifthey could get the stock takcr
in it, well and good; if not no harm was DONE II
appeared to be the general opinion of the Senate
that the original bill the Danve Connection ir
Disguise and while that was the case he would let il
= drop.
The bill passed its second reading-1s to 13, and
the rules being suspended it passed its third read
ing-23 to H. and sent to the House for concur
! renee in the amendments
UNIVERSITY TRUSTEES.
Mr. Martin from the joint select committee to su
perintend the election of ten Trustees for the Uni
versity presented report from, which it appeared
that about fifty persons were voted for and that thu
following were elected by the votes annexed: P. G.
Cameron 81, A. NJ. Scales II, w. Lander IS, Dew
= c. Stone "a, j. j. jackson "A, R. D. Hart r. Il. L
= Patterson &C, T. S. ID. Mcdowell n, j. NJ. Taylor
= u 69, r. r. Bridgers p.
At o'clock the Senate took recess.
NIGHT SESSION.
A message was received from the House proposing
Joint select committee to consist of part of thu
Senate and part of the House, to whom shoult
be referred all matters before both branches of thu
o Assembly pertaining to the Cape Fear and Deep Riv
Il or Improvement Concurred in and Messrs. Pool
Straughan, Brown, Pitchford and Thomas appointed
e Senate branch of said committee.
Also message informing the Senate that th'
House disagreed to the amendments to the Revenue
bill.
,, Mr. Ache moyed tho Snn,to ;ncicf Adontod onf
t the House informed thereof by message.