The state chronicle. [volume] (Raleigh, N.C.) 1883-1893, 1891-03-11
SENATE.

SENATE.
Ftty.seventh Day. March 2.
Met 10 O'Clock, Senator Turner pre-
siding. Prayer by Rev. DR.. Carter, of
the cit Reading of Journal dispensed
with.
Petitions.
BY +. Griggsby, prohibiting sale OF
liuuor ear Herman'S school house, III
AlexaIer county; Mr.. Chesson, askin =
that nlaw be passed prohibiting fish
ing in.oanoke River; Mr.. McLarty. 10
prohit the sale of liquor within two
miles . certain churches.
a la5e number of bills were reported
from enmittees.
Bills Introduced.
Mr. cilmar, to incorporate the Jones
AM (slow Tramway; Mr.. King to
amen chapter SO. laws of 1S7S-'79, rela-
tive &c De North Carolina Railroad Com
p4ny:Ir. BEL 10 amend the laws If
1889. lapter 5S3; Mr.. Mitchell to pro
vide SOS for the new Executive Mail
sion; r. Mitchell, to provide for fur
nishlr the new Executive Mansion;
MIR. Sinkle, relating TO use of dynamite
in Frlch Broad River; Mr.. Davis Of
Franla, to Incorporate the Farmers
Railr.d' Company; Mr.. Bellamy TO
amen section 1867 Of The Code.
Passed Third Reading.
Torohlbit the stock law in Green
vile, lit county; to annex a portion OF
Beanrt county to Pamlico; to incorpo-
rate ie Norfolk, Wilmington and Char
1esto Railway; to incorporate the town
of B,na Vista, in Roanoke county; to
incolorate the town of Whitevllle, Col
umb5 county;to allow the.commissloneri
of Pson county to issue bonds for GER
tain urposes; to allow the city of Char.
lotteo issue special bonds; amend the
eharrof the town of Wilson( (extend cor
por1 limits to regulate fishing With lines
IN R4noke River;to amend the cnarter OF
poras West Asheville; to incorporate
the pwn Of Portla in Roanoke county
Discussing Usury.
Bi TO amend Code, making it mis-
'demanor to receive oyer legal interest
M Aycock thought it would be an
act injustice to pass the bill.
Amendment was offered by Mr..
Bishp to fotfeit the principal.
NJ Parker moved to lay the matter
ON t. table.
M Bellan1y advocated the bill He
said . thought usury law necessity.
He fought the amendment a little too
hare he forfeiture of the principal 1t
woul deter man from loaniDg money
1t wuid drive money out of the market.
He fored an amendment that the per
son Tending shall forfeit three times
the ate of interest If suit is brought
with II minutes.
N. Freeman thought that the amend
mer af the Senator from New Hanover
.shold pass. Mr.. Bishop thought that
a fefeit Of four times the amount of in
tecet should be adopted. this was
adoted Mr.. Green thought the whole
rmaer bad legislation. He thought it
wou work hardship and do no good.
Nj. Paine said that in his county they
.coH borrow money at per ,nt.
n. Aycock did not think that making
theorfeit four times would have the de
sire fleet. He saw no forfeit in it.
'Thenan who loans the money must
kno his man before he loaned it. In
.anser to Mr.. Butler he said Chat the
.Sulrior court said that any double
amlnt of interest could be obtained.
Heaw no use of changing the law when
it Id no effect.
r. Greene, of Harnett, said the OBJ
jecwas to protect the poor men of the
coutry. When nan sues for using he
loss his chances to borrow more money.
Heavored the bill to make it misde-
melor. This would be new law. He
kng Of instances OF man paying A
percent. The National Banks have to
adbt themselves to the rate Of interest
in 9 states in which they are located.
Heoped all amendments will be voted
don.
+. Galloway hoped the matter would
bet alone. We have been doing well
in orth Carolina. Let the whole mat
tepe as it is.
r. Williams thought that such trans
:acbns should not be made misdemean-
or because we could not control the
naonal banks.
r. Freeman said that there were
LAYERS and others who get money at
pc cent. and charge farmers AZ per
tce,
r. Williams did not believe the pen
alt of misdemeanor would hold good
le amendment of forfeiture OF four
tbs the amount of interest was voted
don.
le call for the ayes and noes on the
page Of the bill (making the loaning
nnor) was sustained. The bill was
los-ayes ID, noes 26.
Explaining Their Votes.
E. Williams said that he was heartily
in tvor of the forfeiture of four times
the interest, but that he did not believe
tha' making it misdemeanor would
coDrol the National banks as We had
suo a law here once, passed at the ses-
sio of lS74-75. A case soon came up,
an it was decided adversely to the law
Hzever, to be consistent, he would
haze to vote for the bill, yet he did re-
grt the rnisdemeanor clause of the bill,
asle thought it would give the National
baks exclusive rights and privileges
within the State not enjoyed by other
financial Institutions.
Mr.. Bishop preferred that four times
the value of the interest should be re-
covered when usury was taken, but as
he believed the people demanded some
legislation to prevent taking usury, he
would vote for the bill making it mis-
demeanor. He was fearful that Mr.. At
waters bill would bring about vicious
and malicious prosecutions, and had
offered an amendment requiring all
taking of usury to forfeit the principal
Mr.. Bellamy offered to amend my
amendment by providing for forfeiture
pf three times the interest, and l ex-
pressed myself willing to accept his
fmendment if he would make the for
teluure four times the amount.
Mr.. Bellamy said that with his under
standing of the law he could not consci-
entiously vote against the bill.
Mr.. Paine said that as it had been de.
cided that this bill could not apply to
national banks, he would have to
vote no.
Shall Dredging Be Prohibited
Bill to promote and protect the oyster
industry of the State.
!. Mr.. Gilman proposed to take the bill
sup by sections.
Ar