Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1870-03-01
GENERAL ASSEMBLY OF VIRGINIA.


passed. 1t stands as follows:
An Act an Relation to the Interest on Money
(Senate Amendments in Italics.
l. Whereas the Constitution provides that
upon debts hereafter contracted it shall be law
ful to receive any rate of interest not exceeding
twelve per centum per annum which may be
agreed upon by the parties, and be specified in
the bond, note, or other writing evidencing the
debt, therefore.
l. Be it enacted By the General assembly,
That section 4 chapter 14l of the Code of 1860
be amended and re-enacted SO as to read hence
forth as follows: a rit
IT, Legal interest shall continue to be at the
rate OF SIX dollars upon one hundred dollars for
year, and proportlonately for greater or less
sum, or for longer or shorter time but it shall
be lawful to receive any rate of interest not ex
ceedng twelve per centum per annum which
may be agreed upon by the original parties
thereto and be specifeddn the bond, note, or
other writing evidencng the debt and all such
contracts entered anto sf1ce the 26tt dag of jan
aagy, 1870, are hereby legalized.'
2. Section 80 chapter So OF the Code IS
amended and re-enacted so as to read as fol-
lows H
SO. Any bank authorized to carry on bust
ness IS bank Of circulation, deposit, and dis
court, and any licensed banker on broker, and
Other corporations authorized By their charters
to make loans, or to purchase or discount bonds,
u.s. notes, or other paper, may loan money for
period not exceeding six months and discount
any bill OF exchange, promissory note, or other
negotiable paper Tor the payment Of money,
which will be payable within six months from
the time OF dlscounting the same and may take
interest such loans Or discounts at the rate of
one per centum Tor thirty days. and the inter
est may be received In advance Each bank
shall SO regulate its loans and discounts that
they shall not exceed twice the amount Of the
capital actually paid H.
g. Section sac chapter ffty-nine of the Code
is amended and re-enacted SO as to read as fol
lows:
IS. The money received on deposit, and 9th
err funds Of the institution, society, Or bank,
may be invested in or loaned On any stocks or
real security, Or be used in purchasing or dis
counting bonds, bills, notes, or other paper,
subject to the following restrictions That no
security tor money Or other valuable thing
which may have become payable, other than
certificates Of debts of this State, or the United
States, or OF corporations, shah be purchased
for less than the full amount thereof with all
the interest that may be due thereon and no
debt or claim to become due, other than such
certificates, shall. be purchased or discounted at
rate of discount or interest exceeding the rate
OF one per centum for thirty days. But the in
terest may in any case be received in advance
4. Section eteUen Of chapter one hundred tsad
Jorty-one Of the Code of 1860 Is hereby repealed
5. This act shall be in full force from and af-
ter its passage 1o
The House bill 10 relation to the qualification
and salary Of the Superintendent of Public In
struetIon, with the Senate amendment reducing
the pay from So, 500 to 81, 500, was taken up
Mr. Anderson, of Rockbridge, withdrew his
amendment to strike OUT the amount and leave
blank to be hereafter fixed.
Mr.. Waddeli renewed it. 1t was adopted,
after considerable discusslon-ayes, %; -noes
IT. 5ss au4e.ia
Mr.. Suowden moved as a further amendment
to strike out the clause requiring the officer to
reside in Richmond Carried 'eae Il
Mr.. Waddell moved to fill the blank ord cred
by the Senate with $1,000. s4a
Mr. Anderson moved to fill with S., 400.
Mr.. WaddelFs motion was carried-ayes, %;
noes, 16. t. ,ssa4z ut
Mr. Anderson, of Rockb,idge, offere d an
amendment making this the salary for thu, first
year, and subject to alterations by law. Adopt
ed E F
The bill as amended was then passed
MESSAGE FROM THE GOVERNOR. -A
Pending the consideration Of the above bill,
Colonel Owens private secretary and aid TO the
Governor, delivered the following message from
the Governor: -
COMMONWEALTH CT VIRGINIA, 4
EXECUTIVE IMPAIRMENT,
Richmond, February %, 1870. J
Gentlemen Of the Send5e and House Of Dese-
gates: &st
Much confusion see ms to have obtained Ia
the public m!ed as to precisely what qualifying
or official oaGhs Or atfirInations are required
Of those now in Office inthe State as well as Oh
those to be elected or appointed to.of6ce. 1t Is
undoubtedly true that no person can lawfully
enter upon the discf large Of the fanct onsof the
Office to which ha may have. been cleo led or ap-
pointed, and that no person can lawt lilly dis
charge the duEis S of the Office he nov holds,
without taking the official oaths or afiln,ations
required by ia'v and it is equally true that oul
Constitution and the Law admitting the State
to represent alton 10 Congress have added to,
changed, md modified, the official oaths pre-
scFlbea 10y our statutes but the extent and
scope OF these additions, changes, and modifca-
slous, are not clearly understood nos we'll dem
e0> L am daily IN receipt ct letters OF inquiry
dpon this subject, and it seems to me highly
important that the General Assembly should al
once, by proper enactments not only solve this
question and definitely settle all confusion and
doubt that may exist, but also provide against
the dangers and difficulties that might arise
from the Illegal action of unqualified officers. =
The 9th section Of article 3 Of the Constitution
t5lS>cklDSS tii1t oil pSIoOiSs pStOlS CtCt aug op
on the discharge Of any function officers OF
this State, must take and subscribe tha follow
Ing oath or affirmation: d.
Il, -, do solemnly swear Tor affirm that
L will support and maintain the Constitution
and laws Of the United States and the Constr
tuition and the laws Of the State OF Virginia
that | recognize and accept the civil and poll
teal equality Of all men before the law, and that
| will faithfully perform the duty Of to
the best Of my ability. So help me God
And the first section Of the Schedule provides
that THE common law and the statute laws
now in force not repugnant to this Constitution
shall remain in force until they expire by their
own limitation or are altered or repealed by the
Legislature. y fl,f see,
The LIST, ID, and Sd sections of chapter Il
of the Code Of 1860 are as ioows-viz.:
l. The oath Of fidelity TO the Common
wealth shall be in the following terms:
Il declare myself citizen Of the Common
wealth of Virginia, and solen,nly swear that l
will be faithful and true TO the said Common
wealth, and will support the Constitution there
Of, SO long as continue to be citizen Of the
same. So help me God - 9a
LII. Every person elected or appointed to
any post or Office referred to an the preceding
Ichapter shall, before he acts In such Office, take
the following oath ~
81 swear or affirm that I have not since the
tenth day Of January, one Thousand eight hun
dred and sixty, fought in duel, the issue of
which was, or probably might have been, the
death of either party; nor have l been know
ingly the bearer Of any challs nge or acceptance
to fight duel actually fought; nor have been
otherwise engaged or concerned, directly or IN
directly, In a duel actually fought since said