The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-02-21

Hitution reported by the Committee on
sAnendments, the no less
Important subject OF the feVssion OF the
crfmjpaf laws. and sIie large saving TO lhe
people OF the expenditures involved IN that
revision. and, aboyeai. the most important
subject OF the REIMBURSEMENT on Inc stale
debt. For ono, he would vote 10 remain
here until August, II necessary, TO attend
to the great interests Of the people, WhIch
ought to be considered and settled and
finally disposed Of at this session, and es-
pecially to consider and finally seStle the
debt question by offering TO the creditors
Of the State a compromise Whten we
could honorable propose and WDich ne De-
|ieved they would accept, and that was with
In the ability OF the State to meet.
The motion was agreed to.
FINANCIAL.
On motion OF Dir. KELE, it was
Resoiued, That the Auditor OF Public
Accounts be requested to inform thas Hollse
what amount OF money has been borrowed
bV the State during the last fiscal year from
the different State repositories, what
amount is now due them respectively, ana
what arrangements have been made to pay
the same, and what for future loans.
PASSED.
House bill for the relief OF j. IL. Godsey
from the payment OF fine.
House bill for the relief OF Marcy W..
Green from fine.
PERSONAL.
Nessrs. PULLIAM, HARRISON OF Sussex,
McCABE, HENRY, WALSH, Boc0CK, RYLAND,
and TAYLOR OF Henrico, stated that mad
they been present when the vote was taken
on the passage OF House bill No. 81 Cthe
billy they would have voted
* Ave.; EIr. ROBINSON OF Portsmouth
would have voted mo-"
Messrs. CURLETT, MCCABE, and WALSH
stated that they would have voted for House
bill No. ITO, making an apportionment OF
members OF the General Assembly.
THE sTRAIGHT-sHooT.
House bill to amend and extend the char
ter OF the Straight-Shoot Railroad Company
came up.
On motion Of Mr.. BococK it was amended
in several particulars.
Mr.. PUI.LIAM moved to strike out the pro-
vision which allowed Richmond cltyto sub.
scribe S50O,000, and consequently amended
our charter so as to permit the eighteen per-
cent. debt restriction to be violated.
Agreed to.
The bill was pending when the hour OF /
O'Clock arrived, and the special order ln-
terest bilD came up.
INTEREST oSNoSEY.
House bill "in relation to interest on
money!" providing that call contracts and
assurances made, directly or indirectly, for
the loan or forbearance of money or other
thing at a. greater rate OF interest than is
allowed by the preceding section shall be
void" came up.
1t was argued by the opponents of the
bill that it could not apply to national banks
that the effect would be to compel all State
banking institutions to do a thoroughly lille
ultimate business, and thus increase the rate
OF interest and heap additional burdens
upon the borrowers.
The bill was urged by Messrs. OGLEsBY
and LACY, and opposed by Messrs. HENRY,
PULLIAM, w. Il. TALIAFERRo, and Shell
BURNE.
Mr.. LACY read from the national banking
act that every director of national bank
is required to take an oath not to violate the
provisions Of the act; that they were only
permitted to charge for interest what the
State law allows, and if they charged more
they were, guilty Of perjury, and il con.
yicted could be sent to the penitentiary.
Dir. LACY maintained that this bill acould
govern the national banks.
Mr.. HARyIE said that when he first came
into public life there were three classes I'M
der the ban OF society: First, the negro
traders Though many Of them were very
good mem; second, the gamblers; third,
the usurers. The two last classes stand to-
day where they stood before; il not lower.
Mr.. LOWELL advocated the bill.
SO did Mr.. FICKLEN.
Speaker ALLEN showed that the national
bank-law penalty was forfeiture OF interest
only; this act could not affect them. Be-
cause the law could not be made uniform
he opposed the bill.
Mr.. DICKERsoN OF Russell opposed 1t as a
piece OF cass-legislation that would never
rebound to the interest of the farmers.
Mr.. WALLACE SAID the reason the agrlcul-
turaIists can't borrow money on favorable
terms is that the law requires lenders to take
tedious proceedings in chancery to get
Judgment where necessary. He would not
undertake to say whether that law was
right or not, but there it is.
General ANDERSON opposed the bill. So
did Mr.. w. T. TALlAFERRo.
The House refused to engross the bill
ayes, 50; noes, Sc.
Motion to reconsider made.
Recess.
During the discussion, the war, the I'm
derwood Convention, Ri ,'ical utierances in
regard to money-changers, "the glory Of
the Commonwealth" the ten command
ments, and the United States Constitution
were referred to.
1t is noteworthy-but will sound incred-
bic to the ha6itueS OF the hall-that the
funding bill was not once mentioned.
Night Session.
The SPEAKER in the chair.
A number OF bills were ordered to en-
grossment.
The resolutions accepting the Mccormick
for the University Of Virginia il
Dir. Mccormick will wait upon the State
until better times in the matter Of erecting
IN observatory, &c, came up, and were eX-
planned and advocated earnestly by Dir. Bo-
COCK. He read telegram from Mccormick
SAYING that if not accepted for the Univer-
sity the telescope would go out OF the State
and that there bad been no gift OF it to
Washington and Lee.
Mr.. LADY (Mr. FOWLER in the chair)
that the telescope had been
given to Washington and Lee. He opposed
The pledge for an appropriation to erect an
observatory, and argued that II these reso-
lutions were not passed Washington and
Lee would have another opportunity to get
the telescope, and would be able TO erect an
observatory such as Mr.. Mccormick re-
Quires. s.:
Mr.. FAUNTLERoY complimented Dir. Nc
Cormick, and desired the State to accept
the instrument, but without pledge as to
The observatory.
Mr.. BoHANNoN favored Mr.. BococK's res
buttons. age $50. s-..