The weekly North-Carolina standard. [volume] (Raleigh, N.C.) 186?-1869, 1869-02-17

to. he enrolled tor signature.
Also announced the passage, with an
amendment, of House bill to renew the
charter of the Richmond Manufacturing
Company M
The amendment was concurred in.
Also announced the passage, with an
amendment, of House bill to incorporate
Castle Hayne Vineyard Company. Calen-
dar.
A BILLS INTRODUCED.
By Mr.. HoDeIN Bill to authorize the
Public Auditor and Public Treasurer to
pack up and store away old papers. Passed
its several reading.
By Mr.. SHAVER Bill to authorize the
Commissioners of Salisbury to issue bonds.
Referred to the Committee on Corporations.
By Mr.. MOORE, of Alamance: Bill to
Incorporate Mebansvllle Lodge F. A. M.
Referred to the Committee on Corporations.
By. Mr.. PRICE Bill to incorporate the
Joseph G. Abbott Fire Relief Association,
of Wilmington. Referred to the Committee
on Corporations.
On motion of Mr.. RENFRow, the rules
were suspended, and the bill to authorize
the Commissioners of Halifax County to
levy special tax, passed second reading.
On motion of Mr.. PoU, the rules were
suspended, and Senate Till to repeal an act
entitled /" An act to provide for the employ
ment of convicts and the erection of a
penitentiary,'' ratified oath August, 1868,
passed second and third readings.
MEssRs Sinclair, Durham, Williams of
Harnett, and Proctor asked and obtained
leave to record their votes againt the bill in
relation to obtaining license to practice
law in this State, which passed during their
absence.
Mr.. BARNETT, by leave, gave notice of
bill IN relation to fences and for the prOtec-
ton of crops in certain townships in Person
county. W.
Mr.. PRICE gave notice of a bill to lncor-
porate Star of Hope Lodge, No. 276, indie
pendent Order of Good Templars, of Will
mington.
On motion of Mr.. SMITH of Allegheny, the
rules were suspended, and the resolution in
relation to the State line between North
Carolina and South Carolina passed third
reading.
On motion of Mr. JARVIS, the rules were
suspended, and the bill to change the time
of holding tile courts of Hyde and Martin
counties passed. third reading.
Bill to raise revenue was taken up; the
pending question being on the motion to
reconsider the vote by which the House
adopted the amendment striking out the
words "two fifths of one per cent" in line
2, section l, class 1, of section 3, and insert
ing one fourth of one per cent" as the
rate of State taxation upon all real and per
sonal property.
Mr.. PARKER favored reconsideration, be-
cause he thought one-fourth of one per cent
would not produce sufficient revenue.
Mr.. WEIGH opposed reconsideration, be-
cause,as he thought, the Constitution limited
taxation to 66s cents on each one hundred
dollars, and if this tax were put at two tifths
of one per cent, the county tax would prob
ably bring taxation above this supposed
Constitutional limit
Mr.. PoU said he would vote for the motion
to reconsider because he thought no smaller
taxation than two-ffths of one per cent on
property would raise the amount of money
necessary to meet the interest on the old
public. debt, and the necessary current ex-
penscs of the State government The mem
hers of this General Assembly have no cleo
ton in this matter. We are obliged Ky our
oaths to provide for the interest on the old
debt
The Declaration of Rights, section 6, says
"the public debt shall be regarded as inyio-
liable and never be questioned" The State
Constitution, section 4, says " the General
Assembly shall, by appropriate legislation
and adequate taxation, provide for the
prompt and adequate payment OF the inter
est on the public debt" This General As
sembly did not contract this old debt. We
are not responsible for it. But we are OBJ
liged to provide for the prompt and regular
payment of the interest on it. That interest
is not less than one million dollars per an
mum. The current expenses of the State
Government, Qeaving out Schools will not
be less than three hundred and seventy-fve
thousand dollars per annum.
The State government must go on. We
must raise then, this year, to meet the inter
est on the old debt, 81 100000. to meet cur
rent expenses, 5000, making a total OF
S1,375,000 .......
To raise this sum, the original bill pro-
poses to levy tax of 40 cents on $500 worth
of property. II the property of the State is
worth $500, 100000. that tax of 40 cents per
500 would raise 100000. This amount is
too small by $575, 900 to meet interest and
expenses.
So if we do not raise $575,00O by taxes
on trades, professions, franchises and in
comes, the rate of taxation of the original
bill is too small He doubted our ability'to
raise that amount from those sources. He
did not count IN this estimate any of those
extravagant railroad appropriations, I'M
wisely, and,as he thought, unconstitutionally
made by this Legislature, and which he
advised the people to ignore and repudiate.
Mr. ESTES said the gentleman from Hay.
wood, Mr. WEIGH, misled portion of the
House yesterday The poll tax had nothing
to do with the expenses of the government
or the interest on the debt. He put the
interest on the State debt for the fiscal year
at 81 100000 of which 100000 had been
paid With the State tax at two-tifths of
one per cent, which would produce $780,
900. it would lack 100000 of paying the
interest on the debt, besides the current ex-
penses of the government, all of which gen
tlemen claimed would be provided for from
franchises and privileges; but from his expe-
rience as United States collector in his dis
trict, he came to the conclusion, from the
best estimate he could make, we could not
raise over $375, 900 or $500, 900 in that way.
If we put the expenses of the State at $780,
900 we have 81, 300, 900 to raise, after de-
Quoting the 100000 interest already paid
with borrowed money. As to the statement
that the railroads will pay the interest this
year, that was absurd, because none of them
had paid the interest on the debt since the
war; The North Carolina Railroad paid
$4,000 in bonds. but it was not the earn
ings of the road 1t was done for buncombe.
Therefore we could raise nothing from sour
ces of this kind.
Mr.. WEIGH asked if he believed there was
Constitutional limitation of 661 cents on