Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1873-03-11
The Legislaturs.

In the Senate on Friday, House bill l25 dis
allowing interest during the war On debts con-
tracted before the war was passed by vote of
20 to IL. Cochran vote aye.
Mr.. Penn moved to reconsider the vote just
taken in order that he might be enabled to offer
an amendment putting all debts by judgments,
&c, upon the same footing
The Senate reconsidered the passage of the
| bill-ayes 10, noes IA
| Mr.. Penn then moved to reconsider the vote
by which the bill had been engrossed. Agreed
to-ayes 20, noes 16.
| Mr.. Penn then offered his amendment, aud
it was adopted.
The bill was then read third time and or
| dered to engrossment
Being put upon IFS passage the vote resulted
ayes Is, noes Is. Cochran voted aye.
There being tie vote, the chair Mr. Smith,
declared that the bill had failed to pass.
The House bill fixing six per cent. as the
legal rate ofinterest under all circumstances, and
making the penalty for usury forte iture of in-
terest charged, with the substitute proposed by
the Senate Committee for Courts of Justice,
proposing that SIX per cent. shall be the rate
where no agreement exists, but by special con-
tract rates IS high as eight per centum per an
nun may be charged, and the only penalty for
usury shall be the forfeiture of interest chasg-
ed In excess of the lawful amount. being the
| special order of the day, was taken up. The
substitute was adopted ayes %, noes IL
| Cochran voted nay.
In the House Of Delegates the bill providing
for the payment Of interest on the public debt
was passed, by vote of SO to 81, and, having
previously passed the Senate, now goes to the
Governor. The bill as passed is substantially
that reported by the committee appointed to
confer with the bondholders under the joint re-
solutions which originated with Mr. Taliaferro,
the delegate from Orange.
All the delegates from this county Hanger,
Lightner and Roler-voted for the bill.
This bill provides Tor the payment ofiuterest
on the public debt for the years 1872 and '73 at
the rate Of four per cent. per annum on consols
and on two thirds of the amount of the unfund-
ed bonds For the remaining two per cent.
due and unpaid noa-interest bearing certificates
payable at the pleasure of the State, are to be
issued. The payment of interest for 1872 is
conditioned upon board, consisting of the two
Auditors aod Treasurer, fist asocrtainiog that
therezwiiI be sufficient money in the treasury
and revenue acoruing to safely ALLOW oft; but
calculation has already been made, which
renders almost certain that the interest for
1872 can be placed upon ike footing with the
interest for 1873
No specia! provision for meeting the uatured
coupons which are receivable for taxes is
made, but the holders of such bonds can draw
the four per cent. and get the non interest bear
Ing certificates above provided. if they are willing
to deliver no their coupons.
Having passed both Houses, the bill goes TO
the Governor for his approgal
10 the Senate On Saturday, the Senate bill
TO incorporate the Augusta Mining and In
provement Company was passed.
La the House, a resolution limiting speeches
10 ten minutes was adopted The assessment
| bill was taken up aud considered.