Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1878-02-12
The Legislature.

An the Senate, on Wednesday night
Mr.. Brooke's bill, which was offered as
2 substitute for Mr.. Koiner's Bill in ref
efenhe 10 the public debt, after being
amended, was adopted by vote of 20 to
10, after which it was ordered to engross-
ment by the same vote. NOipeF voted
in the negative.
In the House, the following bills were
passed:
Senate bill to authorize the Board OF
Supervisors of Bath county to borrow
money to defray the cost OF erecting q
bridge over the Cowpasture river.
House bill il relation to deposits of in
surance companies.
1.-THE bill requires deposit OF ave per
cent on the capital stock of foreign com.
panies, provided that companies having
a capital of 100000 or more shall
make a deposit of one per cent, on such
capital: 1t does not apply to companies
doing an exclusively marine business.
The House resumed the consideration
of Barbour's biil which provides fol
levying on property q tax of'50 CENTS on
the 500, and requiring collecting off
GERS to collect end account for 25 cents OF
the same for governmental expenses, 10
cents for the maintenance of public
schools (both Of these only to be paid
IN currency, and Is cents for paying
interest on the public debt, paying ar
reagages to school fund, &c.
1t was advocated by Dance of Pouha-
tan and Bernard Of Petersburg, and 0p-
posed by Peter Carter of Northhamp-
ton.
At the night session, Mr.. Carter re-
snmod and finished his speech when
Gen. Echols secured the foof lahidd gave
way to motion to adjourn.
In the Senate on Thursday the ques-
ton beingan the passage of Mr.. Brooke's
bill as substitute for Mr.. Koiner's, the
original bill, Mr.. Koiner addressed the
Senate briefly, and explained his course
in advocating the original bill. He said
the bill under consideration did not
meet his approval, and ne feared that it
would not be accepted by the creditor,
or if accepted, accepted at the sacrifice
of the peeler-creditOr. If he voted for
it, it would be between the choice of
evils.
Mr.. Hurt of Pittsylvania demanded
the previous question, which was order
ed, and the bill passed by the following
recorded vote:
Ay CS.-IASSSIS. bGItS, blduu. bTOOko
Dickinson, Goode, Griffin, Hairston,
Hurt of Halifax, johnson, Koiner, Lee,
Murray, Nash, Num-, Phlegar, Cues
enberry, Sinclair, Smith, Tanner, Tyler,
and Wortham-21.
Noes.-Messrs. Chiles, Daniel, Full
kerson, Grimsley, Hurt of Pittsylvania
Marshall, Massey, Moulton, Norton,
Paul, Powell, Sherrard, Siemp, Stevens,
and Wood-15.
Absent or not votlng.-Messrs. Bliss,
Elliot, and Hinton.
Mr.. Aainer said he voted "Ayeh as a
choice between the bill and forcible re-
with which Yeare threat
ened.y
The bill which thus passed the Sen
ate provides that it shall be lawful for
the bondholders to exchange their bonds
for four per cent. bonds, with receiva-
BILE coupons attached, whenever three
f0urths of this class of bonds shall be ex-
changed, ard the peeler bonds may be
exchanged in bonds of like character.
In the meanwhile holders Of consol
bonds and peefer bonds, in the proper
ton of three of the former to one of the
latter, may fund the gross amount in
in bonds of the character above describ-
ed, the unpaided interest to be funded
in non-interest bearing certificates, re-
deemable at the pleasure of the General
Assembly.
In the House, Gen. Echols being en-
titled to the floor, delivered an able
speech in opposition to the passage of
The Barbour bill. He opposed the bill
because he believed it would absolutely