Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1873-12-19

autho, lied by the general law.
Mr.. Flemming spoke against the
bill. He thought money ought to be
free from all restraints, and that per-
sons ought TO be allowed to contract
for any rate of interest they could get.
Mr.. Humphrey spoke in advocacy Of
the bill, and said il was necessary TO
protect the people from tho rapacity Of
the monied corporations Of tie conn
try; he said va had tried in practice the
theory OF the Senator from Mcdowell;
money had been loaned ut the rate OF
thirty cents, expressed Oh the face of
notes and collected by o.tgage on real
estate, for thu past four years. That
no money had come into the State
under this invitation; that in our sister
State, Maryland, where they had a
stringent usnry law, money was more
abundant than IN orr Own State. The
passage of thc@.hill would strike down
monopOlies.
Mr.. Cunningham offered an amend
ment, striking ont that portion Of the
bill which repeats the privilege con-
tained'in Bank charters to pay inter-
est on deposits.
Mr.. Troy offered az amendment to
the amendment, placing the banks in
corp0rated by the laws of the State
under the identical restrictions in re-
spect to deposits that the acts Of Con-
gress may provide for the National
Banks.
A long discussion here arose. partici-
pated in by Messrs. Durham, More
mead of buckingham, Humphrey, King
and Murphy.
Mr.. Troy's amendment failed and
| Mr.. Cunningham's was adopted.
| Mr.. Morehead offered a substitute
! which was read for information. He
then offered it as substitute for the
| Whole of the second section. 1t pro-
| vlaes as a penalty for the violation of
| the act by taking greater rate of in
| terest than 8 per cent. the forfeiture of
double the amount loaned, one half to
the informer and the other to the
! State.
Mr.. Seymour called the previous
question. 1t being ordered, the ques-
ton REQUIRED upon the amendment of
Mr.. Troy to exempt building and loan
! associations.
| Mr.. Cowles thought there ought to
! be no exemptions. The amendment
failed. The vote then was upon Mr..
A1orehead's substitute. Not adopted
| L ho Jill pdSoCu ScSOlltl
Mr.. Morehead obtained leave and
! introduced two bilis-one to amend
! the revenue act--the other to promote
immigration and encourage the build
| ing of manufactures.
HOUSE OF REPRESENTATIVES,.
Mr.. Perry, of Baden, asked and OF
tanned leave to record his vote in the
| affirmative in tho resolution of the
! House censuring the back pay act Of
| Congress, and also on the motion to
table the evil rights bill.
MIR. Carter, a petition from citizens
Of Hyde to incorporate Il town TO be
called Engelhard.
| Mr.. Mcneil, memorial from citizens
! of Robson to incorporate the town of
| Shoe Heel.
Nj. Blythe, bill to be entitled an act
| to amend section 9Th, chapter s.. Bat
! ties Revisal
The Speaker announced the nuiin-
ished business being the rr0hibi:ory
Bill, which Was then read.
! Mr.. Bennett moved to refer to Ju-
dietary Committee. The motion pre-
| vailed.
HILLS ACTED UN.
Bill 10 incorporate the Brunswick
Bridge and Ferry Company. Passed
several readings.
Bill to amend the act concerning
amnesty aud pardon was. on motion Of
Mr.. McGehee, made = special order
for tomorrow ct II III.
B;ll amending the act to lay off
ana establish the county Of PaimicO
was read and referred to the Judiciary
Committee.
The Consolidation Railroad bill was
next considered. Various amendments
Were offered, and pending its consid-
crati'n,
On molten CT Nr. Eiclar,i-cn, the
House a,iionguCd until lose o'clock