The Nashville daily union. [volume] (Nashville, Tenn.) 1862-1866, 1866-05-17
HOUSE OF REPRESENTATIVES.

HOUSE OF REF hEoEN AA4l 10
WEDNESDAY, May l6, 1865.
The House was called to order at 9
o'clock.
HoUsE RESOLUTIONS As AMENDED BY TEE
SENATE.
No. 23s: Providing for an adjournment
of the Legislature on the 2lst inst. Tbs
Senate amended so as to adjourn on the
2sth, and to meet again on the first Monday
in October.
After some little discussion, Mr.. Mullins
moved to postpone the whole matter until
next Monday. Lost.
The amendment changing the time for
adjournment to the 26th was then put and
concurred in A motion was then made to
non-concur with the amendment proposing
TO meet again on the first Monday IN Octo-
Der. Carried, ayes so, noes 10.
REPORT FROM THE MINORITY OF TIE COMMITTEE
ON FINANCE.
Mr.. Richards submitted the following re-
port:
rnittee of Finance, submit minority re-
mort on Senate bill No. 1873, to establish ts-
cal agencies, and for other purposes.
After a deliberate consideration OF the
bill, they recommend its passage, with the
following amendment;
That The bank designated in West Ten
nessee and the bank designated in Middle
Tennessee as fiscal agents be required each
10 give a bond for five hundred thousand
dollars, and the bank designated in East
Tennessee as fiscal agent be required TO
rive a bond of two hundred and nifty thou
gand dollars, said bonds to be filed with
md to be approved by the Secretary OF
State. Secretary eff the Treasury, and the
State Treasurer. .
The subject Of the financial condition of
the state, and the security of the public
moneys, is of the first Importance, involy-
ing as it does the credit Of the State and
the preservation and upholding Of the pub
lie faith.
The State debt and its hypOtheeated
credit for all purposes now amounts to
s9s ass. 775 IL, with an sccruing annual in
terest of $1,7Os, ls6 81. The Importance Of
nIocino the credit Of the State at this time
On n solid basis-securing the confidence Of
all in its integrity and purposes OF the
frat importance. To secure this desirable
result, the importance of appointing hscai
agencies must be apparent TO ala mea-
sure which not only affords greater securl y
for the safe keeping Of the pubic moneys,
but secures the council aud cooperation OF
those whose financial ability will greatly
aid the State in It's present crisis.
Your committee would press on the delib-
crate consideration Of the House, that the
subject of the entire control of the depost-
laries of the public money should be assert
ed by this body-instead Of cOnierring that
power on the Treasurer of State--a practice
and authority never conferred by this State
or any other on public officer.
The public monies should, by the Legs
lature, as the custodian of the fiscal char
acter Of the State, be safely secured IN de-
positaries fixed by law, and thus safely
kept, subject to the appropriations OF the
State. ard in pursuance thereof, drawn out
by the drafts of the Treasurer, counter
signed by the Comptroller, thus providing
the proper guards for the protection and
secu. ity Of the monies Of the State.
F. S. RICHARDS,
W. J. SmTH,
J II. DONALDSON,
w. W. WOoDs,
W. II. SHEPHERD.
HOUSE BILLS on THIRD READING.