Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1884-08-20

IL II also true that this amount IS subject 20
heavy deductions before u can be made
available for the uses OF the Commonwealth.
Tie Miller School (which IL a trust fund
has TO its credit S1i2,S5o. %; the literary
FIND has S2C3,33f.25. The school appor-
tionment has not yet been made, which
constitutes direct cash demand; also,
there remains 100000 OF the Atlantic.
Mississippi and Ohio fund, appropriated
but vet unexpeuded, and, beside this,
Slsj.OGO deposited In the Planters aud Me-
chanics BANK " Petersburg, credited TO
the fund for use, but not now available for
any purpose.
In this connection desire TO say that IN
vcStigatiOn Of the dealings o. tue state
with the hank last mentioned Is recon-
mepded. Also. would suggest an anend-
ment in the present law authorizing tue
Governor TO accept United States bonds nj
var, or Virginia 3's at double market-yalue,
as security for state deposits, instead OF
cOrfning that officer, as the law now does,
TO the acceptance Of personal security.
TuE PUBLIC DEBT.
In the message addressed to the General
Assembly on the 9th Of December last your
attention was asked TO certain clauses soi
the act Of February Il, 1882. when. in my
opinion, called for amendment. The re-
endatons then made are With earnest
ness renewed. Recent events have empha-
sized the necessity for some further legis-
laiion on the subject. You are respectfully
ref red 10 PAGE 10 OF the House Journal
for the session Of lSS3-'Si.
In suit brought by John i. Faure rs.
The Board oi Sinking Fund Commission
els before the Circuit Court Of the city OF
Richmond a mdnddmUS was applied for to
compel the said commissioners TO fund the
coupons Of the plaintiff which had ma
tured since the 1st OF July, 1852. Issue
was Timed. and the case was removed un-
der protest Of the representatives OF the
Commonwealth to the Circuit Court
OF the Uaitcd States for the East
ern district Of Virginia. On the l4th
Of August, instant, that tribunal rendered
a jud. ment IN favor Of the plain'in anu
against the State, thereby deciding that any
creditor holding consol or ten-iOrty bonds,
could, upto the period OF maturity OF either
class u these bonds, fund his coupons into
rev thrCos, dollar for dollal-lhus creating
a new debt oi new interest and compound
interest. and still retain his original claim
upon the state for principal.
The Acknowledgement advises me that an
appeal lies in this case TO the supreme
touIt Of the United states, and that officer
has taken steps 10 make such appeal.
But recommend and urge such Immc-
diaic legislation as will place the spirit and
letter OF the act Of February II. 1882, be-
yond the possibility OF mlsconstruction in
this rc. ard.
MIsCELLANEOCs.
recommend that ten thousand dollars
be appropriated from the general fund for
the Female Normal school ai + F,rmyllle.
Also. $50 GOO TO complete the Central Lu-
uatic Asyium at Petersburg.
Also. S20.000 10 the Western Luna:ic
Asylum al Stsunton, Sl6.2j0 OF this amount
10 bc arpled to the covering Of the ded-
ciCncy IN current revenue, up b. and in
cluding the 3Qth day OF september, lNo l.
aud the remainder To- bc used only Tor re-
pairs ana permanent Improvement.
ask. on the recommendation Of the
Board. which has ny iul concurrence, m
appropriation oi $4,000 10 enable this
Commonwealth TO make proper exhibit of
her resources at the Worlds Exhibition at
New Orleans IN December next.
WILLIAM l.. CAMERON.
The message was received and ordered 70
be printed.
on motion Of Mr.. Pollard the House ad-
j0uIncd at $40 O'Clock.