Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1874-02-20
HOUSE OF REPRESENTATIVES,.
NIGHT SESSION.

By Mr.. Richardson, bill to amend
section 81, chapter97, Battles Revisal.
in regard to the public printing. Cal
endar.
The bill for the adjustment OF the
State debt was taken up as the unfn
ished business of the morning.
The bill was read.
Mr.. Brown, of Meckienburg, moved
to strike out ''Sl 800, 600" as the amount
of bonds to be issued and insert
''S2 800, 600" and guarantees the bonds
issued to the Western North Carolina
Railroad, which are secured by a mort
gage of the stock Of the n. c.. Railroad
Co., for which 20 cents in the dollar
shall be paid also that the proposed
bonds to be issued in lieu of the Old
construction bonds of the n G.. Rail
road shall have the same statutory
lien as the said old bonds.
Mr.. Brown, of Davidson, moved to
postpone and make special order for
tomorrow at IL o'clock.
The question REQUIRED upon the
amendments offered by Mr. Brown. of
Mecklenburg, which were accepted.
Mr.. Moring offered an amendment,
in tie nature of substitute, to the
bill. The substitute provides, in sub
stance, that for bonds issued to the n.
G. r. R., 80 cents on the dollar for
principal and accrued interest for
old or ante-beVuna bonds, SKIES, %
cents for principal and accrued inter-
est for bonds issued under the fund
ing acts of 1866 and 1853. 90 cents for
principal and accrued interest for
bonds issued during and since the war
for purposes of internal improvement,
under acts passed before the war, 10
cents for principal and accrued inter
est for regi stored certificates due the
Board of Education, 80 cents for prin-
clpai and accrued interest. The bonds
to be issued in denominations of 500,
5000 and $1,000, to run for 30 years
at an interest OF 6 per cent. payable
semi-annually, with coupons attached.
In case there shall be an amount of
less than 500 due any person the
Treasurer shall issue Il certificate of
Indebtedness for such sum al 6 per
cent interest. The Auditor is required
to add to the taxes of each year, n tax
to be levied ON property, polls aud i'll
come, sum to pay the interest upon
the bonds TO be issued under this act,
provided that no tax shall be levied to
pay the interest upon any Onds until
issued. The substitute further pre-
vldes that the bonds enumerated as
forming a part of the debt, which have
not been returned to the Treasurer on
or before Jan. LIST. 1876, shall be exclu-
ded from the provisions of the bill and
not be considered rs part OF the debt.
On the adoption of the substitute
for the bill, the yeas and NAYS were
called and it was adopted.
The question then recurring on the
passage of the bill on its second read
ing, it failed by vote of yeas 30,
nays 90.
By Mr. Freeman, a resolution re-
sclndlng the joint resolution to adj
journ, on the 10Th inst, and fixing
the sine oiic adjournment for the hour
of II H., on the 23d inst. Calendar.
MIR. Miller moved to reconsider .hc
vote by which the bill in regard to
the public debt failed to pass its sec
ond reading. The motion to recon-
slider was carried.
Mr.. Johnston offered Ii Substitute
for the whole matter, which was ruled
out Of order by the Speaker, as one
substitute had already been adopted.
Mr.. Johnston then offered his sub
stitute as an Independent bill, and it
went to the Calendar.
NJ. Jones, of Caldwell, moved to
lay the whole matter on the table.
Pending further consideration oi the
matter to lay on the table, the House
adjourned.