The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1871-03-17

| of ,yannary and July. 1872, and on the Isl
of January aud July Of each and every yea
thereafter. two per cent. interest on the
principal Of the public debt OF the State
!! now bearing interest at the rate or SIX pei
cent. per annum, and on that portion Of
! the said public debt bearing five per cenf.
interest said officers shall pay at the several
times above mentioned one-third OF the in.
terest accruipg annually thereon"
Mr.. PENpLEToN then offered the follow.
| ing amendment, to come IN at the end oil
the second section, which was rejected
yeas, 10; nays, 81: ,@s.
"Nor does the General Assembly intend
by the payment of interest as herein pro-
yided, to decide the question whether the
Commonwealth is responsible for the pay
ment of the whole public debt or not.
The question was then upon the adop-
| ton of the substitute offered by Mr.. HERN.
DON.
After lengthy debate, Mr.. LATHAM de-
manded the yeas and nays on the question ;
| which were recorded as follows
Yeas. - Messrs. Davis, Fitzpatrick, Wrench,
ley. MOSS, owen. Robinson, Roller, Smith of New
Kent, Taylor Of Loudoun, and Terry.-l5.
Nays -Messrs. Anderson OF Pittsylyania An.
ders0n Of Rockbridge, Austin. Bentley, Camp
son. Latham, Lewis, Pepdleton, Smith of Clarke,
| Snowden. Jr., Taylor of Norfolk city, Teamoh
| and Waddell--ls
The Senate rejected the substitute.
The question was then upon the adop.
! ton of the bill reported from the commit
tee.
Mr.. FITZPATRICK then moved to strike
out in the second section, seventh line. the
following: "Together with two-thirds Of
| the interest due or to become due thereon,
to the 1st day of July, III" This was re.
jected.
Mr.. WADDELL then offered the following
as a separate sentence, to come in at the
end of the Sd section:
"And provided, further, That until such
final settlement with West Virginia there
| shall be paid upon what are known as ster-
| ling bonds, in the manner now prescribed
by law, two.thirds of the interest accruing
on the principal Of said bonds after July l.
1871 and for the interest accrued to said
| date certificates dated on that day shall be
| issued, drawing the same rate of interest
| rs the bonds, two-thirdS of which shall be
! paid as provided to be paid on the bonds ;
the remaining one-third OF unpaid interest,
! both on the bonds and certificates, shall be
payable in money, and the principal of said
certificates in new sterling bonds Of the
same character as the old, whenever such
| final settlement shall be made with West
Virginia"
This amendment was agreed to.
Mr.. ANDERSON, Of Rockbridge, moved to
adjourn. Lost.
MIR. AsDERsoN, of Rockbridee, then pro-
posed the following amendment to come in
as the 9Th section:
"This act shall not in any manner inter.
fcre with, or be construed to interfere with,
the operation of the act passed February
%, 1867, entitled an act continuing the
Dayment of interest and dividends to the
Incorporated colleges and other seminaries
of Learning in the State, so far as bonds are
now held by said institutions
The hour of having arrived, the PREsI-
DENT vacated the chair.
Evening Session.
Mr.. EDGAR SNowDEN, Jr., resumed the
Chair ut o'clock.
The following Senator's answered to their
names: Messrs. Anderson of Pittsylvania.
Anderson of Rockbridge, Austin, Beazley,
Carr, Courtney, Davis, Fitzpatrick,
French, Greene, Greever, Grimsley, Har-
ris, Herndon, johnson, Kendrick, La
than, Lathrop, Lewis, Moseley, Patter-
son, Pendleton, Robinson, Roller, Smith
of New Kent, Smith of Clarke, Snowden
Jr., Taylor Of Loudoun, Teamoh, Wad-
dell, and Moss-31.
Mr.. AUSTIN desired his protest to be en-
tered against such proceedings.
MIR. R. L. OWEN was present, but did not
answer.
Mr.. COURTNEY stated that Mr.. CAMPBELL
was detained from his seat by sickness.
The subject Of the funding of the public
debt was resumed; the question being
upon the adoption of the amendment offered
by Mr.. ANDERSON, of Rockbridge, just be-
fore the President vacated the chair at 3
O'Clock.
Mr.. HARRIS called the previous question,
but the call was not sustained.
The question being called on Mr.. AMBER
SONS amendment, it was rejected.
Mr.. ANDERSON, of Pittsyvania, then
moved to amend the bill in the I'd section,
10th line, by striking out all after the words
lone hundred" down to the word "dated'
in the 18th line, and insert in lieu thereof
the words land multipleS thereof" This
amendment was adopted.
On his motion, the bill was further
amended in the 44th line of the 4th section
by adding the word coupon" before
"bond" IN the same line, and also by
striking out the 7th section.
Pendinga motion to reconsider Mr.. WAD-
DELL's amendment and Il further considera-
ton of the bill, the Senate adjourned at
1915 Z. NJ.
A