Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1861-11-30

g Mr. Badger thenght the proposed amendment
would make.no material change. He preferred the
word price" because il 1t were-used, there would
often be q prila tacie case against . the seller
which would necessarily compel disclosure OF the
price at which. be had bought II the word sprer
fit was substituted no one could ascertain wheth-
er there were an unreasonable profit or not-7not
knowing what price was originally paid. & IN
Mr.. Ruffin agreed with Mr. B. as far he had gone,
but Thought his analogy was not sufficiently min
ute. " Price /" was the word-not profit de OBJ
iected to price" because its use "would not oper
ate to prevent lchoLeSae sales at reasonable profits
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 no. ..r % .-4
Mr. Leak said the words were substantially the
same in meaning. He preferred. however, retaining
the word price" because its use would throw the
OHus pro6andi on the selel, while if "pro6t were
used its effect would be to impose the burthen OF
proof upon the informer. .r.
Mr.. Strong replied at some length to the objec-
tons 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
81 80 per sack In this case though selling at the
same price the one was making exorbitant, the
other a moderate profit They might both be prose
cuted under this ordinance and with manifest injus
uce be SUBJECTED 10 the same penaltleS.
Mr.. Osborne thought Mr.. Smiths illustration an
unfortunate one nor could he concur in the opinion
that any one should be punished for taking the
market value of article which had risen in price
without any agency on his part. If the amendment
were adopted no proof could be offered to the
first price paid. How then he asked, could the
profit be ascertained since that profit consisted in
per centage made cost price? He thought the
whole measure unfortunate one.
Mr.. Rufin thought the objections which Mr.
Smith had made were easily answered. In the case
alluded to, the merchant who made an exorbitant
profit, still public benefactor, to some extent
because by selling at market value he prevented an
increase IN the price Of the article sold The ordi
nance applied only to buying and selling at the
same place, raising prices and expressing consul
mers there. 1t did not apply to those vi pur-
chased abroad TO supply the home demand am 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 ad-
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-aw
Mr.. Sanders introduced a resolution relative to
the daily sittings fthe Convention. Lies one
day.
Mr. Warren, resolution proposing an amend
ment to the COnstitutiOn-referred to the Consttu-
uonal committee Also resolution calling on the
Adjutant General for information concerning troops
in service from this State. Referred TO the
military committee.
The resolution introduced by Mr. Woodin pro-
posing change in the basis of representation was
referred TO the Legislative committee
Mr. Woodhn from the committee on salt report
ed that the committee had means of ascertaining
the quantity required by the people of the State,
the amount on hand. There would doubtless be
great deficiency. 1t was estimated that 500, 900
bushels were annually consumed in the State
There not more than One-ffth Of this amount la
market now, and probably another fifth was in the
hands of those who had already purchased for their
own use. The deficiency would amount to at least
OO,O0O bushels, and Of this, the salsworks at Alb
ingdon, Va, whence our supply was chiefly drawn,
could not furnish more than bushel in ten. 1t
the opinion of the committee that we must look
to the manufacture of salt sea- board as the
best means of securing asupply. They thought an
abundance could be procured on the sea coast 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 a commissioner to
enter at once upon the manufacture of salt on the
coast to be furnished to the people Of the State at
cost including price Of transportation. The ord-
appropriates 500 000 to be used in erecting
and furnishing the necessary works. This ord
nance, together with the report ordered to be
printed and lies under rule for consideration
tomorrow.
The special order for halfpast 10 o'clock, A. NJ,
was announced namely the ordinance for the relief
of the Treasury
MIR. Ruthn from the select committee reported
substitute for the ordinance referred authorizing
the issue Of three millions of dollars in Treasury
notes, before the LIST o. January 1868, payable
to bearer at the Treasury in 1865, and bearing in
tereSt at the rate Of / an0 6+-1O0 of / per cent.
daily on amounts of 800 and upwards.
The notes to be of the following denomna-
tions OF five, ten, twenty, fifty, and two
hundred dollars which will be issued in the follow
ing proportions, viz: 100000 each of fives tens,
and twentieS; SS0U000 in tifties, and $500 900 in
notes of one and two hundred dollars The ordin-
makes these notes receivable in payment of
taxes and other public dues, and empowers the
Treasurer to borrow money their credit paying
on such loan no higher than six per cent These
are the salient features of the ordinance.
The reporter will furnish copy for publication
so soon as it can be obtained.
In connection with the ordinance the Governors
message was read recommending immediate action
for the relief of the Treasury, and giving approx
mate estimates Of the needed for State pur
poses both civil and military, with specifications.
The report, message, and ordinance were ordered
to be printed on motion of Mr.. Gorrell.
On motion of Mr.. Rutfin, the ordinance was made
the special order for IL o'clock A. NJ.
The Convention then resumed the consideration
Of the unfinished business of yesterday, viz: the
dnance for the suppression of oppressive specula-
ton. The question being on the amendment offer
ed by Mr.. Howard viz: to strike out the word
"prices and insert profits" after further discus
sion between Messrs. Strong Washington and 9TH
ers, it was rejected-yeas 80, nays II.
Mr.. Graham opposed the ordinance on the gener-
al grounds of its mpolicy and futility, and cited
English judicial decisions in support of the views
advanced ...-T T. p. -.