Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1879-02-03

sna!l have thG Caciu;lfe pllFt!eRo Va ioouihs
the ou;slaniiUg Gsh. usder ihe Provisions Ct
this act.
Ba: il the sid corpo.a:ious SHALL fl! 10 file
with the Governor tbtlr assent aud agreement
as a!oHs.d by the lst dsy Of AtrIl, 1879. OF
shall fail to present i0E iundlDg the Outstanding
bonds 10 lie proportions and amounts and dur
iag the periods htreinhe fore specified, then the
Governor may in his discretion make like
contract with responsible parties for the fu0a-
lex Ct ho debt Of The State under this &c.
G. The rules prescribed under the &C. ap
proved March 80, 1871, 10 respect 10 preparing,
signing, aud issuing the new bonds and cou
PEGS, regulating the same, and in taking 10,
caaceIiiug, and registering the old bonds, shall
| be observed by tho officers OF the Treasury IN
the execution Of this act, except 50 fer as the
| same be modified by The provisions If this act,
! provided thst all bonds and certificates which
| nay be necessary to be printed shall be printed
| from plac which shall! be the property Of the
| Commonwealth, and shall remain in the keep
ing, or under the control Of the Second Au
| dior.
I. The owners Of all classes of bonds meG-
toned in this act who shall exchange their sc
eurilies for the bonds created under this act,
and who shall rot lave yet received certificates
rerrtse ntIng the remaining one third 0t thclE
principle and interest dls and payable BY the
State ct West Virginia, shall receive carllhsstes
Of like character 10 those issued uIder The act
of March 3d. 1871, when they make such ex
| change, ard tic State OF Virgioia will negotiate,
or aid the creditors holding all OF such ccrtit-
Gates issued under this act, or previous acts, ID
ncgolistipg with the State Of West Virginia
| for az amicabla settlement OF the claims Of such
creditors against tho State of Virginia,
s. Tie General Assembly will by necessary
and appropriate legislation provide fer tht
prompt payment OF the interest on the bond!
issued uader this act.
9. lo the year 1885, and annually thereafter
until all the bonds issued under and by huthorl
~ Of tbs sc arc paid. thera shall he leTied enc
collected The same az, and together With 0!hcl
taxes, a tax OF two cents en- the one hundred
dollars O: the assessed valuation Of all The
rroper!y-pcrsora. real and mi2ed-in The
State, which shall be paid ibto the treasury G.
the State TO the credit OF tho sinking fund
The Treasurer. the Auditor OF Public Account:
aud Second Auditor, are hereby appointec
commissioners Of the spking fund. and shal
have "a majority ac!iue) the coatrcl and mat
agcmcot thereof, aud she'll annually, Or otcreT
arrly whatever sum or sums mag be to the
credit Of the sipkipg fund 10 the ru5ohas, onC
All the certificates OF debs which shall be
funded, redeemed, or purchased Under this
act shall b. cancelled by the Svcond huditcl
and delivered By him to the Treasurer OF the
Commonwealth at the time of payment thereof
who shall carefully preserve the same 10 hi:
tifi,a. All certificates oil the debt acquired
under The operation of the sipkiaG iund created
| BY The act Of March 80. 1871, shall also b. sc
| cancelled and delivered
10. Executors, administrators aud others act
iug es iiluclsries, mag !6Vest In tho bonds Is
sued u0Ger this act and the same shall be Goa
sldcred lawful Investment.
II, The Treasurer shall, upon The Gr;t day:
Of July, 1879, and January, 1880, AMI upoi
tho same ds5s in each year, pay or cause TO bt
paid to the holders thereof The halt yearly 10
tcYe5t then due upon each ci' the boads 0! TIE
Commonwealth issued under this sct.
II. The act approved March IT, 1878. anf
I'll ac!s inconsistent With the p?oVious Ct This
act, ere hercbyrepssled.
l3. Ills aot shall be iu terco fsoin lis passage
After reading OF the bill remarks were
n,ado b Maj,r Darlington, Mr.. Ward, Of the
B2riug house., in L1ld0n Mr.. Fry, cf Ne"
York Col0nel MoiF3tt, Hlr. Bec9cb, Dir. Bar
bour, General Anderson and others.
Mr.. McCulloch. in tho Course oil blSJemaks
gave two pieces OF advice, as follows: IT tht
debt question be now settled, do not keep il
bel0rc tho public-lct it rest : and second, d.
aot rur down your lands. ard do not speak q
tic poverty OF your State. but be hop:iul and
cheerful, and the fuiuro will be bright.
Mr. Ward, it is understood, did 10! spprove
the :2atu,e OF the bill giving the Two lIntfa
ass Citations tic authority proposed.
The sub committee determined to report the
propositions to the general committee at 3 meet.
Ing to be held ct the Exchange at 10 o'clock
thia nor1iDp, without recommendations.
| The Richmond Dispatch c0Isldcrs tho propo
| siti3u G! The bordhodtrs liberal one, allowing
the State to ray The smallest rstrg uGli! times
arc better, aaG the largcrratcs when the people
arc rn5rn ali, 10 bear heavier taxalion-the
effect being TO relieve the S,tste.cf 5000, 600 PEI
suuulA far the Grst fi7o years 100000 pei
annuG Tor tbs next ,wcn;y five years, and OF
! 5000 600 Ter The las; ten years. The Stale
Will hare tho lizht 70 redeem aoY OF her bonds
it the end OF leu years.
| Tho Richmond Wing, on tbs other hand
after hnsiy zlng the bill says: I'VE will not DC
it! The people CT lireicia danGnd relief
and this this-is offered them They ask tor
bread, act s!cGc is proposed. The cglsla-
to; who voice for ii-3sy, be WHO ieycys it. CT
evtD raaotcIg asseDts 20 lis daGned ro!l!l'
cai!Y in Fi!pibia forever.