The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1871-12-21
General Assembly of Virginia
WEDNESDAY, December 20, 1871
SENATE.


The Lieutenant Governor In the ohaE.
Prayor By Rev. DR.. Minnigerode.
HOUSE BILLS REFERRED.
To amend the act of the General Assembly
upproycd March 20, 1867, entitled an act IN
cooperating the Radford Iron-Minlng CON-
pany and for other purposes.
TO amend and re0nact an act entitled an
net to amend and rcenact the charter OF the
town of Leesburg, in the county OF Londoun,
passed February y, 1858.
COMMITTEE REPORTS.
Mr.. FITZPATRICK. from the Committee on
General Laws, reported with amendments
Senate bill to incorporate the Virginia iron
Mining, Chemical, and Manufacturing Com
pany. y:
nance, reported without amendment Housc
bin TO amend and recnact the Sth section OIL
an act entitled an act directing the Board OF
Public Works to sell the States interest III
the various internal improvement companies
OF tho Commonwealth.
TIE JUDICIARY SYSTEM.
The PRESIDENT laid before the Senate COM
m,lucation from the Governor, accompany
ing printed copies of the returns made by
the county Judges of thirty-two counties, and
Informing the body that the balance of the
returns received are in the hands OF the
printer, and will be delivered liz few days.
porsp.sY LINES BETWEEN VIRGINIA AND MARY
LAND, NORTH CAROLINA AND TENNESSEE.
Mr.. WYSSE offered the following preamble
and resolution, which was agreed to:
"Whereas by an act pissed by the Legs
lat,,rc Of Virginia, approved February 4th,
1871, commissioners were appointed ana
money appropriated for the purpose OF ascer-
taining and defining the boundary lines be-
tween the State Of Virginia and the States OF
Maryland, North Carolina, and tennessee
therefore
" Rcso1rcd, That his EXccllcncy the Coy
crnor of this Commonwealth be respectfully
requested to inform the Senate what steps
have been taken in regard to the objects
named in the act what correspondence has
nassed between the Executive of Virginia
and the Executives of Maryland, North Caro-
lima, and Tennessee; what documents have
hccn obtained; what information has been
received and acts performed which, in his
opinion, il is proper to communicate III &C.
cortlaIcc with the OIL ects Of this resolution"
RESOLUTIONS OF INQUIRY PRESENTED AND
REPORTED.
By Mr.. LAKELAND: As to amending and re-
enacting section Of chapter Is Of the Code
of 1860, in regard to the duties and privi-
lcgcs of members CT the General Assembly.
BY Mr.. STEVENS: As to the propricty OF
providing for the codification OF the laws OF
Virginia.
BY Mr.. THOMAS: As to amending the act
passed July 18th, 1870, incorporating the
Potomac and Manassas Kailroad Company.
BY Mr.. KIRKPATRICK: As to providing by
law that in prosecution for assault and bat
terry the accused may he examined rs wit
ness.
TIE FUNDING ACT.
Mr.. QUEsESGEREY offered the following re-
solution:
"Res0lccd, That the Senate will vote this
day at o'clock 2. u. Oh the joint resolution
sent from the House Delegates il regard 60
the suspension Of the funding act"
Mr.. WARD proposed to amend the resolu-
ton by striking out the words " this day AZ
1 o'clock Z. NJ and inserting in lieu thereof
the words "at y o'clock tonight Olnless n
vote is sooner arrived aD"; which was
agreed to, and the resolution adopted.
IMPORTATION ASKED FOR.
The following preamble and resolution,
offered by Mr.. ANDERSON, of PittSyIvania,
was adopted OR. Thomas having with
drawn his resolution OF a like nature):
"Whereas the report of the Auditor Of
Public Accounts, embracing statement Of
the condition Of the Treasury for the first six
months of the year 1872, WAS based upon an
estimate of receipts made in February, 1871 :;
and whereas more exact information Of the
present condition of the Treasury and al
rearagcs to be received is desired; therefore
be it
"Resolrec', That the Auditor be requested
TO furnish as early as practicable to the
Senate the following estimates:
81. heamount now in the State Treasury.
"2. The aggregate sum likely to be re-
ceived on account Of arrearagcs of all taxes
for the years 1870 and 1871.
as. The amount to be probably received
from licenses and other sources Of revenue
previous to the 1st Of July, 1872.
-. What amount will be required to meet
the expenses Of Government to the LIST Of
July, 1872, and to pay the interest Oh the
public debt in January and July, 1872.
"What, in his opinion, will be the deficit
in the Treasury on the 1st of July, 1872, for
which provision is to be made"
TIE PUBLIC DEBT.
The consideration Of the House joint reso-
luton suSpcnding the funding Of the public
debt having been resumed,
Mr.. COCHRAN took the floor and made an
able and exhaustive argument in opposition
to its passage. He contended that the credit
Of Virginia was not only a matter Of affection
and sentiment, but of the very gravest mate
rial consequence, and il this resolution were
passed, untold miscrics would follow it for
generations to come. The funding bill he
never regarded as perfect, but it was GER
tainly the very best thing that could have
been done then, and no more unohjcctiona-
bic plan is now proposed. AS to carrying
out the provisions Of that bill and paying i'll
tcrcSt, he maintained that it could be done.
Reviewing the report Of the Auditor, he de-
monstrited that that officer had made some
and had not anticipated that more
than 81 800, 900 would be in the treasury ON the
1st ofJanuary, 1872. According to his own e5ti-
mates, we would not only be able to pay the in
terest for 1872, but by n proper revision Of our
revenue system, ind by making the rail
roads contribute their proper share to the
of the Government, and by prac-
ticing economy, be able to continue the pay
ment Of interest for the future. He said that
of all these great corporations in the State
only the Norfolk and Seaboard and Atlantic,
and Ohio Railroad Companies had
paid any part Of their taxes for the past two
years. The Atlantic, Mississippi and Ohio
Railroad Company had not only paid up
so, 600, but was ready to pay all due by it.
The results Of the coupon system, the
,'eaker held, had been grossly exaggerated;
he coupons were not so much sought for as
had bet,r represented. OF the So, 100000 Of
bonds hello in Virginia 100000 had been
runded in the Ild-1aslion certificates Of debt,
and not in coupon bonds ; and Of the foreign
eighty Oh ninety per cent. Of
their bonds had been funded i'll coupon
,,o,G, E.ron thocp fapts bp showed that no