The state chronicle. [volume] (Raleigh, N.C.) 1883-1893, 1891-01-28
The State Chronicle.
THE GENERAL ASSEMBLY.
SENATE.

The Senate was called to order at ] |
O'Clock a. m. by Senator Turn q Ire
dell, Lieut. Governor Holt BENZ absent,
and was led in prayer by Rev. Dr-
Nash Of this city.
The Journal of Saturday was read and
approved.
The different standing committees re-
ported bills acted upon.
Leave of absence was granted IMr At
water on account of sickness in bis fam
lily
Bills Introduced.
Mr.. Courts; bill 70 repeal rep ]. old at Rnf and
fin in Rockingham cpunty
Mr. Davis OF Hay wood. Ito repeal
Chap 1872 Of the laws of 1855, relating
to the entry Of public lan!i This bli
restores tue law as laid dow ia the Code.
Sec 2765
Mr.. Bellamy, bill to fnnd and con
solidate the debt Of the ely # Whining
ton: one to provide whel offenses shall
be prosecuted, when conmltted on the
high seas or within the State, Or when
death happens in the Site.
Mr. Avery, bill to incorporate the
Smoky Gap Turnpike company; one to
incorporate the town q Linville.
Mr. Bellamy, to incorporate the Will
mipgton Il Southern Hallway Company.
Mr. Butler, bill u define fees of off
GERS in actions where claim and delivery
are resorted 90
Mr. Alston, bill to establish an in
dus.rial school for Jle coloIed
Mr.. Courts, a bll.o incorporate Alum
mum Manufacturing Company; and one
to amend the Code
ATeI <>f
the Code relating to the pay of county
com mlsslOners, ard asked that 1t be
p aced on the calsndar.
Mr. Gilman. a bill to correct certain
irregularities IN making jury lis s.
MIR Avery, to amend section 81 Of the
Cons!i utlon by giving justices of the
peace additional and final jurisdiction
in minor cases
Passed secOId and Third Reading.
The bill to amend the charter of Trim
ity Colleg- rhe bill provides for the
removal OF the college to Durham, and
allows its trustees to hold property to
the amount Of $4,000 900.
A bill to continue In force the charter
of Silver Valley Mining Company in
Davidson county. Bill extends charter
80 years.
- at the request of Mr.. Williams, Sen
ate Bin 3, amending Sec. 1866, Chap. 62
of the Code, was taken from the com
mittee and placed upon the Calendar.
Mr.. Gilman moved to recommit- The
bill peals the existing law allowing
the collecting Of more than 6 per cent.
Interest.
Mr. Williams took the floor and
strongly urged the passage of bis bill.
lie salo, III snastaIor twelve years The
ing at this tnaeed and have for years de
people maaat the law allowing per
mandeaerest should be repealed. When
cenfntroduced it the first time, in
>aSS5, it received only four votes: Since
that time he had not failed to press
this matter whenever he had an oppor-
/tunity. His people are unanimous for
this bill. he said that usury, high in
terest, had been the beginning or the
downfall of every nation of antiquity
You may say what you please about the
wreck of empires. and the crimes
that shock humanity, but on authority
] say that the power of money is respon-
sible for it all. Judge Story tells US
that the colonists who came to America
brought with them from the mother
country the rates of interest charged in
their old homes. Some of these usu-
rous rates We're SO oppressive that 1t
led to the establ .shment of warehouses,
similar to what Is now asked by the
Farmers Alliance, and made the rate of
interest six and one fifth per cent. From
1886 up to 1868 the rate OF interest IN
this State was never more tnan 3 per
cent. The memorable carpet bag legis-
lature of '6S made our present law. He
did not propose to say anything about
carpet baggers as ne was opposed 10
kicking dead mule.
Now under the present law the Shy
locks have the privilege of expressing the
HELPLESS poor who need money, (for
necessity knows no law while the 'rphan
children of the State those who need it
above all others are not allowed 10y our
laws to have but 6 per cent. 1t Is an IN
iust,ce and an outrage, and he would
forever contend for the poor and help
less against ruthless, soulless greed.
The farmers IN 1889 received on their
invested capital only per cent, while
the manufactures all over the country
averaged 80 per cent. Low on earth
can the farmer pay per cent for money
on which he cannot make over or per
cent -, ), ~ -,
money out of the State Where Will II
.-oa Nearly all the States collect lower
entarest than we do. Virginia charges
6 per cent, and who Will say tnaS sne mas
not as much money as we.
New York charges only 6 per cent,
- 20, sha commands all the money
sha wants. The truth is that lowering
;n+arost has always brought money to
. State from the fact that money loaned
at low rate is safer than loaned at
h;oh rate. Just let some prosperous
fown offer bonds on the market at per
oont and per cent, and see how quick
they are gobbled up
Hioh interest is crushing ana running
80 rssonle. and it is only question OF
.no p p,.han q few men will own this coun-
. T. is almost so now. When a noted
E9a,,sh,nan visited this country to ind
a,,t how we kept up our government
~ ;thont standing army, he said. THAT
80 ha saw the masses our people
nvn their homes he understood IT,
Thomas Jefferson said, ''ln looking to
...a.erva,ion of this government,
.het .he p,ha safety of the Republic rested
,,non the condition thai our people
apnaa their homes" 1t these wise men
we're right, and they were: unless 'ne
orasn of the money power IS les11"iueu
and the inroads of greed cneckeo' our
Government will be destroyed.
s.er bill being the special order
10 clock. Mr.. Williams yleideo the
an. a.. Nd the special order was taken up
LOU, ;."r;tv report was handed IN oy
NJ Gilman. offering an amenuuene
aiiov;nu dredging in certain parts Oh
Pamiico 7nn Sou stated that Mr.. Morgan,
- MI h.d ,,renared the report OF the MI
N;.n wig 10. as s;ck. and asked to have reao