Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1861-12-04

preSStve ana cOntenQeQ tLlht luz amSnouSus Pr
posed would remove the hardship and injustice ad-
verted to- w.
Mr. Badger thought the proposed amendment
would make no material change. He preferred the
word price" because if it were used, there would
often be primG tacie case against the seller
which would necessarily compel disclosure OF the
price at which he had bought. If the word PRO
fit" substituted no one could ascertain wheth.
er there were an unreasonable profit or not-not
knowing what price was originally paid
Mr. Rufiin agreed with Mr.. B. as far he had gone,
but thought his analogy was not sufficiently min
ute. Price :" was the word-not profit he oo'
jected to "prce" because its use would not oper-
ate to prevent acholesale sales at reasonable preas
Such sales would make person an "engrosser
whether he realized any profit or not The evil OF
such sales was that they enhanced prices whether
profit were made or no.
Mr.. Leak said the words were substantially the
same in meaning He preferred. however, retaining
the word "price," because its use would throw the
onus proJandi on the sellel, while if "proft" were
used its effect would be to impose the burthen OF
proof upon the informer.
Mr.. Strong replied at some length to the objec-
tions raised.
Mr. Smith of Halifax also favored the amendment.
In support of this opinion he cited the suggestions
case of two merchants retailing salt at $l5 per sack,
the one having purchased at $3.50, the other at
50. so per sack. In this case though selling at the
same price, the one was making an exorbitant, the
other a moderate profit. They might both be prose-
cuted under this ordinance and with manifest inus-
tice be subjected to the same penalties.
Mr.. Osborne thought Mr.. Smiths illustration an
unfortunate one, could he concur in the opinion
that any one should be punished for taking the
market value of an article which had risen in price
without any agency on his part If the amendment
were adopted, no proof could be offered as to the
first price paid How then, he asked, could the
profit be ascertained since that profit consisted in
per centage made on cost price? lie thought the
whole measure an unfortunate one.
Mr. Ruffin thought the objections which Mr..
Smith had made were easily answered. In the case
alluded to- the merchant who made an exor6itant
profit, was Still public benefactor, to some extent,
because By selling at market value he prevented an
increase in the price of the article sold The ord
nance applied only to buying and selling at the
same place, raising prices and expressing consul
| mers there. 1t did not apply to those who pur-
chased abroad 10 supply the home demand and if
applied to them would be very unjust.
The merits of the proposed amendment were fur
ther canvassed by Messrs. Battle, of Wake, Wash
ington and Strong. The remarks of the latter were
suspended by the arrival Of the hour fixed for adj
jOurnment
WEDNESDAY, Nov. 81, 1861.
The Convention was called to order and was
opened with prayer by Rev. j. W. Tucker.
| The journal of yesterday was read and approved.
| Mr.. Jones of Caldwell, presented petition from
citizens of Caldwell county, praying repeal of the
Stay-law. Referred to committee on the Stay-law.
Mr.. Sanders introduced a resolution relative to
the daily sittngs of the Convention. Lies over one
| day.
Mr.. Warren, a resolution proposing an amend
ment to the Consttution-referred to the Constitu-
tional committee. Also, resolution calling on the
Adjutant General for information concerning troops
| now in service from this State. Referred to the
| military committee.
The resolution introduced by Mr.. Woodhn pro.
| posing change in the basis Of representation, was
referred to the Legislative committee.
Mr.. Woodfn from the committee on salt, report
ed that the committee had no means of ascertanng
the quantity required by the people Of the State, or
the amount on hand. There would doubtless be a
! great deficiency. 1t was estimated that 500, 00O
bushels were annually consumed in the State
There not than onc-fifth Of this amount in
market now. and probably another fifth was in the
hands of those who had already purchased for their
own The deficiency would amount to at least
100000 bushels, and Of this, the saltworks ut Alb
J inSdon, Va, whence our supply was chiefly drawn,
could not furnish more than bushel in ten. II
was the opinion of the committee that must look
to the manufacture of salt our sea board as the
best means of securing asupply. They thought an
abundance could be procured on the seacoast by
boiling at this season of the year. and at less
than 81 per bushel. Individual enterprise was TO-
tally inadequate to the production of the quantity
needed and immediate action was necessary.
The report was accompanied by an ordinance
proposing the appointment OF commissioner t.
enter at once upon the manufacture Of salt OH the
coast, to be furnished to the people Of the State al
cost, including price of transportation. The ordi
nance appropriates 100000 to be used in erecting
o~l Tho Sic or-li
nance, together with the report, ordered to be
printed and lies over under rule for consideration
tomorrow.
The special order for halfpast 10 o'clock. A. NJ.
was announced, namely the ordinance for the relic
Of the Treasury.
Mr.. Ruftin from the select committee reported
substitute for the ordinance referred, authorizin,
the issue Of three millions of dollars in Treasur,
notes. or before the LIST o. January 1863, payabl
to bearer at the Treasury in 1865, and bearing in
terest at the rate of l and 64-1O0 of per cent
daily. on amounts Of 500 and upwards
The notes to be of the following denomina
tons. VIZ: OF five, ten, twenty, fifty, one and tw
hundred dollars which will be issued in the follow
ing proportions, viz: 100000 each of fives, tens
and twenties; 100000 in fifties, and $500, 900 il
notes of one and two hundred dollars The ordin
ance makes these notes receivable in payment q
taxes and other public dues, and empowers tn
Treasurer to borrow money on their credit, payin
on such loan no higher than six per cent Thes
are the salient features of the ordinance.
THE reporter will furnish copy for publicatio
3 so soon as it can be obtained.
3 In connection with the ordinance the Governor
message was read recommending immediate actio
i for the relief Of the Treasury, and giving approx
mate estimates of the amounts needed for State pu,
poses both civil and military, with specifications
r The report, message, and ordinance were ordere
to be printed on motion of Mr.. Gorrell.
' On motion of Mr.. Ruffin, the ordinance was mad
9 the special order for II o'clock A. NJ.
: The Convention then resumed the considerable
! Of the unfinished business of yesterday, viz the o
; dinance for the suppression of oppressive specul
Il ton. The question being on the amendment offe
h ed by Mr.. Howard viz: to strike out the VOL
"prices" and insert profits" after further discu
e sion between Messrs. Strong Washington and ot
n ers it was rejected-yeas 80, nays II.
= Mr.. Graham opposed the ordinance on the gene
al grounds of its impolicy and futility and cite