The times. [volume] (Richmond, Va.) 1890-1903, 1892-02-17

va NA' ''HA+Af |'n
HOUSE BILLS PASSED.
The following House bills we're passed
Supplementary 10 an act entitled an act 10 IN
corn rate me Baltimore, Cincinnati and Vest
orn Railway Company, approved Nlarch \,
1850. O. provide "a new charter Ior the Itoa-
n0ko Trust. Lonn and Safe Deposit Company
OF Roanoke city. Va.
STATE DEnT MATTE.
The bin FOR the settlement Of the State debt
came DID o q special order NJ l2.5O T.. ii. Mr..
Slr.lofs. of rankin. said that while he APP
lr8ysl the main features OF the hll under
discussion there wore some OBNOXIOUS
featlses of the bin winch should DO corrected.
I.e int feature 10 which the speaker Oh
cetcl was the exemption from taxation Of
tic bonds 90 ie issued under the Olcott set
tofnent. lie aid that IA this settlement the
state authorities were required by the resOlu-
ton under which the commission acted 10
consider proposals tRsod upon the principles
of the Ril4leberger bill. that tie bonds issued
emptcd from taxation, and that these new
bonds should nj be. that the people had had
enough OF giving up the sovereignty of the
State and of tying the hands oil the future
Legislatures ire tie famous coupon bill. that
tins exemption feature of the present bill was
peculiarly obnoxious 20 the great body of the
people. Since 10 would deprive iuture Legs
latures Of . portion OF the States righto d taxa
ton. Mr. Saunders said that this feature ~
the uil should be stricken out entirely, but Il
this was not done that the bonds should Ger
tain'y be made taxable at the end Of ten years,
w4en they would bear 3 per cent.
AN UNJUST FEATURE.
Mr.. Saunders then addressed himself to Soc
ton Z of the DIl. which requires ~tOndhUlders
who fund outside of the Olc0tt committee 10
pay 90 the commissioner of the sinking iund
| - 80 4NL Lea. 49, FIA
bonds received by them. lie said this was a
most unjust feature. the logical elect OF
which was 20 coupe. all holders Of Virginia
securities 10 fund through the Olc0tt cOmmlt-
tee. The commissioner OF tho sinking fund
were forbidden 10 receive for funding any OBJ
legations already filed with the Olcott COM
mittee or hereafter filed with II. This would
compel the men already IN the pool
90 fund through the committee. There
was a further provision IN the law
o. allow the OlcOtt committee TO
hereafter present State Obligations for
funding. Mr. Saunders said these two pro-
visions would work ont tins result, that bond
holders would make an agreement with the
OlcOtt committee "a trlie better than the 2
per cent. that they would have TO pay the
State. and would therefore ind through thls
committee that they might as we'll put ID the
hill in tOtldem verbs q provisi on that al out
standing obligations should lie funded through
the OlcOtt committee. lie SAID there was
nothing III the correspondence between the
State commission aud the Olcott committee,
nothing ia the Agreement which they
have ratified. nothing IN tine principle
they settles under. nothing IN the necessl-
ties Of the case to justify tire insertion IL
the pending bin .0t tho obnoxious features
which hs Lad critic SEED and wished to see
corrected. ln concluding he added that tho
bonds in the hands ot the Olcott committee
would be funded according 70 their agreement,
and thatshould the 81 percent feature OF the
bill be- struck out the outstanding D~ondholu-
ers would be induced TO fund. that thus they
would get rid Of the yexatious question
finally and forever. lAppiause.I
COLONEL H. Oh. WILLIAMS.
Mr.. Williams next took the floor and de
lvered O fOrcibie speech IN lavor of the bill.
NOW gentlemen. SAID he. IN concluding;
''vOu have q proposition that has been agreed
t. by our creditors and that comes within the
means OF Virginia and her taxpayers and yet
we are cavllug over IL and You are trying TO
defeat q measure that Will ultimately bury
this question forever and that Will set the peO-
pie of this State free. l am surprised
that O man Will get up ana proclaim
that there is a trick behind this bill and that
Virginia viii be gOuged by these people. /
tell YOU il don't come with good grace. Now
the State Is willing 70 pay 10. she ls Tree from
her creditors and YOU have an opportunity %
forever ntALIt Ilio NNt0kfNA III LlH 'tUNf At4-
tlemen. / think II is a far, PLAIN proposition,
md j think that every man. whether be be a
member of the Alliance. q farmer. "a doctor or
what. ought 10 take this view and stop
'caviling' about it. Let rs settle this debt.
let us turn our eyes 70 the rising sun of q
brighter dav. and let II be known that We are
honest and intend TO do what We promised
to-
CROSS EXAMINATION.
The speaker then resumed his seat amidst
liberal applause. Mr.. Saunders then arose
and said Mr.. Williams. your idea is, take
IT, that this house should take the bill abso-
lutely rs 10 comes from the Finance Commit
tee. without attempting 10 improve or correct
10. and the people who attempt 10 perfect II
are trying to overthrow the deDt settlement %
Well replied Colonel Williams. Il don't
wish 10 be understood exactly in that Light.
don't claim that 1t Is perfect, but tuere are
provisions which YOU propose o. strike out
that Will rum the bll. and that don believe
"a true. honest Nlrginlan can vote tor
ON motion of Mr. MciiWaine the bill was
then passed by until next Thursday at noon.
KENT RAILROAD BILL.
Tho Kent Railroad Commission ill was
then again taken up as q special order. Mr..
Pitcher, If ~tauQuIer, a member of the Com
mittee on Roads and Internal Navigation,
who voted against the bill. opposed the meas
ure ia an exceedingly iOrclDle speech AS a
member of the Roads Committee - said he.
"l wish to say something In regard 90 the
Kent bll which We ha1o been considering
for two months. We have taken 70 great deal
Of evidence and heard a great deal of discus
sion on tine floor of this House. ASA mcm-
Der OF that committee have been waiting
FIR some person 10 give some rea-
son why such "a bill as the Kent
bill should be enacted into q
law by tho people of Nirginia-by this Legis-
lature and a yet. sirs. we have had no one
before u8 tina; gave any reason why such a
laws should be enacted. None. SITS and the
bill itself is the most wonderful production
tDat has ever come from any man IN tie state
o. Virginia. don't think you can find any
tllns ever enacted by the people OF Virginia
that compares with this bill. ! AM glad 10
realize. ~irs. that know the gentleman from
Wytho and have met him personally. because
DON'T think. If ! only knew him thr ugh
thus ban. that would have any proper con-
celton OF ldea OF what sort of a man he IS.
COMPARED lo5UL,s VERNE.
think. sir said the speaker. continuing.
That IT D moro wonderful than even jules
verne iu The widest dreams OF his magma
tloh. or any other man who produces that
winch is unnatural % meet the demands Of
the Imagination. could have brought forth.
inconsistencies Absurdiues, lie las as
serted several lines with outward manItesta-
uOus ul inward satisfaction that no one could
tell HIM the difference between this nm and
the Joint statute and the laws now laid down
for the control and GOVERNING ~