The Daily state journal. [volume] (Alexandria, Va.) 1868-1874, 1871-12-20
RESOLUTIONS OF INQUIRY PRESENTED
AND ADOPTED.


AND ADOPTED. E
By Mr.. Lackland--As to amending and
re;inacting section Of chapter Is of the
code of 1850. in regard to the duties and
privileges of members of the General AS
sembly. rist y.
By Mr.. Stevens--As to the propriety of
providing for the codfcation Of the laws of
Virginia.
By Mr.. Thomas-As to amending the |
act passed July 18th, 1870, Incorporating |
the Potomac and Manassas Railroad COM
pany. .l4. .,.e.,
By Mr.. Kirkpatrick-A to providing by
law that in prosecution for assault and bat
terry the accused may be examined as
witness. hrl
7H- THE FUNDING ACT. 5'191-a
Mr.. Quesenberry offered the following
resolution:
Reso,ued. That the Senate will vote this day
at a o'clock p. M, on the joint resolution sent
| from the House of Delegates, in regard 10 the
suspension of the funding act .,.,.,s,,., -
q Mr.. Ward proposed to amend the resolu-
ton by striking out the words 'sthis day
at A o'clock P. NJ" and inserting in lieu
thereof the words sat II O'Clock tonight
(mless vote is sooner arrived att" which
was agreed to, and the resolution adopted.
INFORMATION ASKED FOR.
The following preamble and resolution,
offered by Mr.. Anderson, of Pittsylvanla,
were adopted, (Mr. Thomas having with
drawn his resolution, of like nature) !:
WHEREAS, The report of the Auditor of Public
Accounts, embracing statement OF the condi-
ton of the treasury for the first six months of the
, year 1872 was based upon an estimate of receipts
made in February, ISL; aud whereas, more
exact information OF the present condition OF
treasury and arrearages to be received is de-
Resolped. That tho Auditor be requested to- fur
nish as early as practicable, to the Senate the
2 following estmates:
2d The aggregate sum likely to be received on
account of arrearages OF all taxes for the years
1870 and 1871. 5a4t
@ Sd The amount to be probably. received from
licenses and other sources OF revenue previous tc
r the LIST OF July, 1872.
l. 4th What amount will be required to NEE
n the expenses of government TO the LIST of July
is 1872 and to pay the interest on the public debt II
January and July ls72 what in his opinion Wi vii
be the deficit in the Treasury on LIST OF July, 1872
d for which provision is 10 be made.
c THE PUBLIC DEBT. .r,
e The consideration of the House joint res
e olution suspending the interest on the pub
lie debt having been resumed, Mr.. Coch
!, ran took the floor and made an able an eX
- haustive argument in opposition to is pas
l. sage. He contended that the credit of Vir
GINA was not only matter of affection AM
he sentiment, but of the very great mater,a
5, consequence, and if this resolution wer
c. passed, untold miseries would follow it fo
he generations to come. The funding bill h
y never regarded as perfect, but it was Gel
t. tainly the very best thing that coul
ne have been done then and no NOR
unobectonable plan is now proposed
as As to carrying out the provisions of tina
NJ bill and paying interest, he maintained tha
of it could be done. Reviewing the report (
1T the Auditor, he demonstrated that thu
to officer had made some mistakes, and ha
ed not anticipated that more than 81 10000
es would be in the Treasury on the LIST of JaI
if uary, 1872. According to his own estimat
IN we would not only be able to pay the il
terest for 1872, but, by a proper revisic
IT. of our revenue system, and by making Il
e, railroads contribute their proper share
he the expenses Of the government, and b
we praoticing economy, be able to continue Il
sct payment of the interest for the future. /
on SAID that Of all these great corporation
in the State only the Norfolk and Seaboarl
he and Atlantic, Mississippi and Ohio railroi
al companies had paid any part of their tax
Ac- for the past ten years. The Atlantic, Mi
or sissippi and Ohio railroad company not on
OF had paid up s22, 900, but was ready to p
nil all due by it. The result of the coupo
iu- system, the speaker held, had been gross
or exaggerated; the coupons were not SO mu
sought for as had been represented.
&C., the So 900, 900 of bonds held in Virgin
'm- $1,000, 900 had been funded in the old-fa'
ion certificates of debt, and not in coup
ing bonds, and, of the foreign bondholde
the so or 80 per cent. OF their boz
and had been funded in coupon bonds. FIR
these facts he showed that no excess
riz- amounts of coupons would be in circu
the ton, and that there was no probability
ON the wheels Of the government being locke
and Mr.. Cochran concluded his remarks
ling an eloquent appeal to the Senate to int
pose and save the credit, honor and int
sec Iity Of the State, and promised that
$50 future would show their wisdom Q
ses. posterity bless them. 81
Mr.. Herndon made an earnest invocat
,tion against the passage of the resoluti
eyed which he regarded as an act Of repudati
t. - bad enough to stamp the old Comm
IS of wealth with dshonor forever. He belle
ton, that If IL was necessary (as he said il ,
NOR, .'l' N "%s ~ s.,o w., 49, &c 80
ton the people would bear it untnuITnuri
Re oe ly rather than repudiate their just andh
ring able obligations. But it had been shown
lister we could get along for two or three We
INC without adding to the burden of taxatl
- &c and the pleading offered by the advoc;
49, " of the resolution were therefore answer
,osi- He besought them not topass this rash
ems. unwise measure. ss6s f3aaffg
tho Adjourned until u o'clock.
'iiN
port , ,,.a,r ra,.a,o.,, rnrusr.r
the me-