Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1859-01-26

place himself right in the matter as it might be in
ferred, by the course of the House. that he had re-
fused to attend the meetings of the committee.
w hen notified he promised to attend, and did so,
and met the chairman he entered the capitol, by
whom he was informed that the meeting had ad-
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-a joint select
and joint standing committee. Yet he neglected
both of these and went to attend the committee
privileges and elections, and found they had ad-
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 get
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. 81 ---,.
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 not
convenient for him to do so, as he was engaged on
an important committee and in the Investigation of
an important State work. He did not now refuse
to attend But he considered the message from the
House a reflection on him and Mr.. Dobson. He had
told the chairman of the committee 1.-THE Reporter
so understood that he knew nothing whatever, of
his own knowledge, relative to the subject of in
qury, and he said it was the desire of the commit
tee to extort from him private and confidential mat
ters, which, than reveal he would suffer his
right arm to be taken from his body. He said he
did not now desire leave of absence; when he did
he would ask for it. or request some Senator to do
so for him. !
1t being now understood that Messrs Dobson and
Martin had no objection to attend the committee
On motion of Mr.. Bledsoe, the message was con-
CURED n-granting leave of absence to those Sena-
tors to attend, should they think proper to do So
THE BANK NORTH-CAROLINA. -.
Mr. Cherry continued his remarks on Mr.. Steele's
amendment to 18th section of the bill. He said the
object of bank with branches would be defeated if
the amendment prevailed. Branches stood on an in
dividual footing. His (Mr. CS) experience was
against the abuses spoken of by Mr.. Steele. Con-
| centratiOn of specie not advisable. As to the
objections against banks with branches, he could
| see no force in them.
Mr.. Leach thought that the principal bank and its
branches should be made to redeem the notes re-
gardless of where issued-and that the mother bank
| should be held responsible for her branches.
| Mr.. Ble<lsoe asked Mr. Leach if he had made
calculation of the amount of specie it would require
bank to have to carry out his dea-its obligations
| Mr.. Leach replied that the bank could regulate
the matter for herself 1t was an easy matter to
transport specie to where required He contended
branches had the advantage over local banks.
! Mr.. Bledsoe followed. He considered banks as
necessary evils. They were intended to facilitate
trade and commerce. They appeared to be regard
ed by Senators as things gotten up for the benefit
of stockholders If that be So said he, why let them
go down. 1t could not he material to the bank
whether or not the specie was concentrated at one
point if it suited the public. He denied the correct
ness of Mr. Gorrells conclusion as to the cause of
North-Carolina money being deprecated abroad
1t was not the difficulty of getting it cashed but it
was the difficulty OF exchanges to which it was fair
ly attributable. As to the plan proposed by Mr..
Leach it would require this bank to have capital of
sarty millions of dollars to carry its business
He, CIr b. had no objection to the amendment
suggested that branches should issue only their own
notes.
Mr. Gorrell moved to amend Mr.. Steele's amend
ment by providing that the principal bank should
be required to meet all issues over is, and that one
fifth of all the issue of the bank should be in S.
bills to be used at NE branches in proportion to
their capital.
Mr.. Ramsay drew attention to the effect of the
amendment as it now was proposed to stand; all
the specie to be in Raleigh-the branches to issue
s. bills and under and have nothing to redeem them.
| MIR. Cherry could see possible good to result
from the proposition. Mr.. Gorrelrs amendment re-
jected
Mr.. Leach offered to amend by making the moth
er bank and branches redeem all bills no matter
where issued under the corporation. Rejected
MIR. Steeles amendment also rejected-27 to 10.
Mr.. Steele offered another amendment providing
that the issues of the bank and branches should be
in proportion to their capital.
Mr.. Edney offered an amendment Out of order
| Mr.. Steeles second amendment was adopted.
Mr.. Ramsay offered to amend by providing that o
branch shall be located at Salisbury.
This led to heightened discussion, which resulted
in the adoption of the amendment
Amendments were then adopted that branches
should be located at Goldsboro', Roxboro Williams
ton, Beaufort and Milton.
motion to add Smithfield was rejected.
Mr.. Douthtt would add Lexington, but had hopes
of seeing the bill to charter the Bank of Lexington
4 pass into law. ....I .
On motion of Mr.. Ashe the Senate adjourned.