The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1866-02-07
GENERAL ASSEMBLY OF VIRGINIA.
TUESDAY, February Q, 1865.
SEN ATE


Prayer by DIR. Edwards.
Mr.. ROBINSON stated that Mr.. hELLo, OF
Southampton, is quite Ill.
BANSIsrgR RIVER APEEcE.
BY Mr. KEEN $780,.
g Pesolred, That the Committee on denerai
Laws inquire into the eXpediency OF proVld-
ing by law that q certain portion Oh Bahhistei
river shall be a lawful fence Agreed TO-
BILLS PASSED.
A bill TO incorporate the Virginia NaHey
Iron and Manufacturing Company -
bin to incorporate the Mount vernon
Company. ,Y:,,o.,,,.r
bin to amend the charter of the Midlothian
Coal Mining Company. $500 Mill.
A bill 10 incorporate the lhuustli"i 4"ihi"s
and Manufacturing Company.
A bill appropriating money to pay lot repairs
! TO the Capitol, Governors House, ana the
Public Square, and to purchase Necessary i .i,,
niture for the Governors house. Inc Dill
appropriates ten thousand collars Aof 'heee
purposes .o- :.
"a bill to repeal the act passed June 22d, 1900 az
relation to the salaries u certot" grceI%S ~, ~
| Government, and TO rertre ceTto'" Sec'''"' " "'
| code repealed By said act.
The bill provides that the several ofhceTs
| hereinafter mentioned shall receive ahhually
/ the following sums The Governor, I'VE thou
! sand dollars the Secretary OF the Soli i
| wealth, two thousand two hundred uoIlals
4 IL
| tho convinc clerk seven hundred dollars the
! Superintendent of weights and measures,
| three hundred dollars; the AUDITOR OF puDlic
| accounts, three thousand I'VE hunureu uoi
/ lars: the clerk of accounts, two Thousand doi,
| lars: the first clerk, one thousand six hundred
| dollars the second, third, and tourtn clerks,
| each, the sum OF one thousand uoIl"ls
| the treasurer, the sum OF TWO ihouSano'
| five hundred dollars the first clerk In ms
office one thousand three hundred collars the
second and third clerks, each, the sum OF one
| thousand dollars"
UsCRY LAWS.
| This subject came up as unfinished business.
| The original bill and the Boiling SUBSTITUTE
were both given In erteaSO in Il former issue.
| We state. however, for the benent OF tnose
who failed to see that paper, that the original
bill first fixes legal rate OF interest AT SIX per
| cent in cases where no special contract Is
made secondly, it repeats all enactments
! known as % JIsury Laws" giving the parties
entire freedom TO contract at any rate OF
interest they think proper.
THE BOILING SUBSTITUTE
also first fixes the legal rate at siX.per cent IN
| the absence of special contract; secondly, IL
permits the parties, by WrtHen contract, toagfee
| on any higher rate of interest not exceeding
| ten per cent except in cases where one OF The
parties is a money lending corporation or a
| bank in which case they are not allowed 70
contract at Il higher rate than elght per cent
! The immediate question was on the amend
ment proposed by Mr.. MEADE Ito the substi-
| tute) TO fix the maximum rate between prl-
yate individuals at eight instead Of ten per
cent.
Mr.. BOILING opposed Mr.. MEADE's amend
ment.
Mr.. MEADE replied that he wished to protect
the agricultural interest from mortgaglng us
land ~ ruinous rates of interest
Mr. GRAY also advocated the eight per cent.
maximum.
Mr.. BoLLIyG amended his substitute by
striking out the restriction rs TO banks, so as
TO enable them, as well rs private parties, 10
contract at any rate OF interest not exceeding
ten per cent.
Mr.. GILMER advocated the entire repeal OF
usury laws and opposed the establishment OF
any maximum. He said that capital, ike
water, will seek its proper level. de showed
that the usury laws are hardly ever pleaded
| They therefore, are powerlcss for good, ana
potent only for evil 1t is absurd for the Lee
rislature 10 set themselves up as guardians &c
! their neutrality-suspicious. TO know lnell
! business better than they do themselves. Inc
people know what they want; and II they are
/ willing TO pay ten per cent, or more, let tnehI
do it.
country opposed this change. anu that inc
ravages of war are disappearing, and notn an
! average area of wheat and larger breadth oi
| corn land are prepared without the ana OIL TINS
proposed legislation -
| Mr. KEEN advocated the entire repeal OF all
usury laws. He said that the Legislature
have already empowered all the railroads III
! the State 10 borrow money At any rate they
/ please then why restrict me 2,
! The question being taken, the MEADE amend
mcnt liking the maximum at eight per cent
! was adopted by Il vote of eighteen TO twelve.
| Mr. KEEN moved TO lay the bill on the table
/ He said he felt sure that some of the Senators
had voted under misrepresentation. The bill
was laid on the table by vote OF sixteen to
/ twelve.
RECONSTRUCTION.
The Joint resolutions, approving the policy
! of the President of the United States III refe'
/ renee to the reconstruction OF the Union, came
| back from the House with substitute: Inc
substitute after being discussed by MessrS
GRAY, MEADE, GILMER, ROBINSON, and CROCK
EFT, was passed unanimously.
| The resolutions are rs follows:
81 ReSOLced by the General assembly Of IU-
, Qinia, That the people of this Commonwealth,
/ and their representatives here assembled, cor
daily approve the policy pursued by Andrew
! Johnson, President OF the United States, III
the reorganization of the Union. We accept
the result of the late contest and do not desire
to renew what has been so concusively deter
mined nor do we mean 10 permit any one
subject 10 our control 10 attempt its renewal
or 10 violate any of our Obligations 10 the
United States Government. We mean 10
co operate in the wise, firm, and just policy
adopted by the President, with all the energy
and power we can devote to that object.
"2 That the above declaration expresses the
sentiments and purposes OF all our people, ana
sent our views and intentions 10 be different
as cruel and criminal assaults on our character
and our interests. 1t is one of the mistortunes
of our present political condition that we have
among us persons whose interests are tempo
rarily promoted by such false representations
but we rely on the intelligence and integrity OF
those who WELD the power of the United
States Government for our safeguard agalns1
such malign influences.
49, That involuntary servitude, except fol
crime, is abolished, and ought not 10 be
re-establshed, and that the negro race among
/ us should be treated with justice, humanity,
and good faith, and every means that the wis
dom of the Legislature can devise should be
used TO make them useful and intelligent mem
/ bers of society.
-. That Virginia will not voluntarily con.
sent to change the adjustment of political
power as fixed by the Constitution OF the
/ United States and 10 constrain her to do so III
! her present PROSTATE and helpless condition,
! with no voice in the councils OF the nation,
would be IN uniusttiable breach of faith
! and that her earnest thanks are due 10 the
! President for the firm stand he has taken
against amendments of the Constitution
| forced through in the present condition OF
| affairs"
| Another resolution appoints committee OF
! three on the part of the Senate, and five on
| the part of the House, TO convey these resolu-