Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1868-12-18
Informing the House of the passage OF the
bill to provide for registration of voters In
special elections.
IONS AND BILLS.


RyG. W. Price. colored A resolution
that as doubts exist In the mlnds OF por-
t;on of the members of the General Assem-
IL ~ reoard to their term of Office ; there
fore,
o,,oy,od That il is the sense of this Genera;
Assembly that the members composing the pres
ant Assembly are elected for two years, beginning
in 1868 and expiring in 1879. Lies over.
Mr.. Argo renewed his resolution of yes
terdav. that, from and after the 14th inst :,
the House hold two sessions daily.
Mr. Argo moved to suspend the rules
and adopt at once. Carried.
J. Fl. Harris, of Wake, colored, moved
TO amend by striking ouS half past o'clock
and inserting half past P. NJ which
Mr.. Argo accepted.
On the passage of tue resolution J. S.
Iyeary, colored, called for the yeas and
NAYS. The call being sustained. resulted
yeas 81, nays 10.
BY leave. Mr.. Whitley, from the com
nlittee on Corporations, reported favorably
upon the bill to amend the charter of the
city of Wilmington.
Mr. French moved to suspend the rules
and put the bill on its several readings. -
Carried.
The bill passed its several readings.
ByJ. S. Leary, colored: a bill to amend
Inc charter of the town of Fayetteville.
J. S. Leary, colored, moved to suspend
the rules and put the bill on its several
readings. Carried, and the bill passed.
Mr.. Estes moved to reconsider the vote,
by which the bill Submitted by the Treas
nrer) to authorize the Treasurer to supply
temporary deficiencies In the Treasury, was
referred to the Finance committee. Car
ried.
On motion of Mr. Estes, the bill was at
once taken up and put Oh its second read
ing.
MIR. Seymour said this WAS the first time
lie had read the bill. He proceeded to Offer
many objections to it. In his opinion it
conferred too large powers on any man, no
matter what his capacity and integrity
He moved to postpone until Monday next.
Mr. Estes said he thought this little
disconrteous to him after statement he
had just made He objected to parts Of
the bill himself. He only wished it to pass
is second reading, and then, upon its
third, any gentleman could offer any sub
stitutes and amendments they should see
fit Something has to be done to pay the
interest falling due, and if we vote down
this bill orr bonds ,UM depreciue rapidly
Mr.. Seymour said, while he disciaimed
any intention of being discourteous to the
gentleman, it was simply matter which
one member wished 10 pass and another
did not. If it was q matter affecting his
personal interest he would most assuredly
yie!.. To the request. However, lac would
withdraw his motion to postpone, and
moved to strike out sections 2 and 3.
The following is the bill
Section /. Tile General assembly Of North Caro-
ina do entdc; as J0G0tcS, 10 enable in Public
Treasurer in advance OF the coItec i'm and return
fGy tn ItV h nag laE-
needed TO pay the iut rest On the public deb
q d other appropriations made b. law, the Public
Treasurer Is h rebv authOriZ- d, from tiIEe to
time, to borrow such sums may be necessary
10 meet the wants Of the Treasury, a. rae o!
interest not tt exceed eight per cent, and on
such terms, as to time and place OF payment, az
3 az tie agreed on the time Of payment not TO be
later than the day fixed b. law r the payment Of
public taxes into the Treasury.
sec. 2 As collateral security Tor the payment
of the sums borrowed as above mentioned, the
Public Treasurer is authorized to mortgage or
pledge all, any part, OF the stocks or tOnds i
held and owned by the State, in or On any rail |
road, canal or navigation company, IN such
amounts - may be eXpedlent. ana likewise. any |
interest owned by the State, by lien or otherwise,
in respect TO such stocks or bonds.
Sec 5 In case the State fails to repay the sums |
borrowed, or any part thereof, according to con- |
tract the mortgage Is hereby authorize 10 sell,
after thirty DAYS advertis ement in at least two
newspapers published In the city Of Raleigh, at
public auction such portion of the stocks bonds
mOrtgaged, snd the interest of the State in rela
ton thereto. as may be necessary to repay said !
loans. AMI il case of such SALE il shall be the |
duty Of the Public Treasurer to transfer and con-
vey to the purchaser the stocks Or bonds sold, |
together with such interests aud rights the |
State may in relation to the same provided, |
that sale shall take place under this act
than the list day Of October. 1869.
After debate of some length between
Messrs. Seymour, Estes and Sinclair.
Mr.. Durham said that they should not
pass the bill on its second reading for. if
they did, they committed themselves TO the |
principles of the bill. 10 matter what was
the object intended we go on record as be- !
ing in favor of giving the Treasurer power
to hypothecate all the property of the
State. The people would not understand
it, and he thought the object would be
effected by the adoption of Mr.. Sey mour's
motion to strike out the sections comforting
such extraordinary powers on one man
He hoped and believed that if the vote
came up on the whole bill it would be voted
down.
Mr. Estes Then the House would be re-
sponsible for the depreciation that such
action would have on the State bonds. He
still insisted that the striking out of those
sections would make the whole an absur-
ditv He could not see why the bill should
not pass its second reading, and. on its
third reading, be amended to suit the views
of the House.
Mr. Seymour said he had heard that there
was scheme on foot to sell the property of
the State. He thought such measure
would have come before the House on its
own merits, but here it is put forward in
.sidiously, ,nde1' the cOrer of an appropria-
ton.
MIR. Estes said he once said that the gen.
tleman from Craven (AIr. Seymour acted
in manner that seemed strange to his
friends, but this was the strangest thing
that he (Ir. Estes had yet seen. The gen
tleman lad reflected upon the Governor,
Treasurer, and others, who recommended
the bill.
Mr. Seymour disclaimed rejecting upon
any one.
Mr. Malone said there was no precedent
IN the history of the State where it had to
give lien to borrow money. 1t seemed,
from this debate, that the credit of the State
had run low indeed. He hoped the whole
proposition would be voted down.
Mr.. French moved to amend by striking
out, in line 6, the words ''from time to
time" in same section, line ., strike out
the words land in such terms as to time