The times. [volume] (Richmond, Va.) 1890-1903, 1893-12-19
active militia, when in active service.
To Allow IxD@nses

|
To Allow Expenses
BY Mr.. Gibson To amend and rc-enact
section l64. Code OF Virginia. or TO pre-.
vent the Governor from accepting the
services Of any officer OF the army or
navy Of the United States detailed for
/ duty with the Virginia volunteers. and
commissioning such officer 10 such rank
as may best enable him TO carry out the
| purposes Of this detail: and such officer.
when so commissioned. shall be allowed
such actual expenses incurred In the per-
formance Of the duties Of his detail as
may not be allowed him by the United
States.
BY Mi Banks. To repeal chapter i29 OF
the Acts OF Assembly OF lsSg-'9O. in reIa-
tion 10 the erection Of fish ladders in
Goose creek, so far as it relates to the
county OF Bedford
To Issue Circulating Notes
BY Mr.. Patteson: To authorize the
Issuance of circulating notes TO the
banks and banking associations of the
state of Virginia, 20 provide for the pro-
lection Of the same, 20 provide for the
protection Of depositors Of such bank or
banking association. and for other pur.
poses.
The bill is practically the same bin
which has recently passed the General
Assembly of Georgia. Under the bin all
of the capital stock must be paid IN law
ful currency OF the United States OF
America, or in gold or silver; one-half
must be deposited in the vaults OF the
bank, for the redemption of bills, and can
not be used for any other purpose what
ever, under penalty OF Imprisonment In
the penitentiary. The other half shall
be invested in United States. State. eoun-
ty, and municipal bonds, and first
mortgage bonds Of trunk-line railroads
worth not less than par
These bonds are 10 be deposited with
the State Treasurer as security for tho
bills of the bank On the money SO de-
posted I'm the vaults OF the bank. and the
bonds deposited with the State, such bank
Is allowed 10 issue and circulate bills TO
an amount equal 10 three times the
amount Of the fund required 20 be kept
ON deposit In the vaults OF the bank
Thus, If a bank should deposit 100000
In It's own vaults and the same amount
with the treasurer. such a bank would
be authorized 10 issue $4,000 Of its
bills As additional security the stock
holders are made personally liable to
an amount equal 20 their stock I'm addl-
tion TO the amount subscribed. The plan
gives $4,000 OF security for every $50 900
OF bills. This will add largely TO the
volume of currency because II will be
seen that upon an investment of 100000
by any bank or banking institution an
issue OF bills 20 the amount OF $4,000
would be authorized. thus increasing the
volume OF the circulating medium by one
third.
All Of these bills are made redeemable
on demand I'm United States currency or
coin and any one desiring to go abroad
oil
exchange these bills for national cur
rency, for the chief object OF the bill is
TO afford a good local currency circulating
more largely in Virginia than elsewhere.
The provisions Of the bill are too numer-
Gus 20 be mentioned here. and the safe |
guards are deemed ample and complete |
10 give a good and round currency.
Courts of ia q g.
The Committee on Courts Of Justice |
held another session in the Court Of APP |
peals building. with Colonel Gibson, OF |
Culpeper in the chair.
A bin introduced by Mr. Crump, Of this |
city, vas discussed, which seeks TO vail |
late a deed made by one OF two trustees |
IF the Infant Sons and Daughters OF |
Love, to Mr. Barton. The deed has refer |
snce TO a piece Of property sold TO Mr. |
Barton The property had been intended |
y
or that purpose. The existing law pro-
'ides that such a deed fOr the transfer
II a cemetery should be made by from
i've 70 nine trustees.
Mr.. Barton briefly explained the facts
nd stated that the plot of land In ques-
ion was originally purchased for an eX-
ension of a cemetery, but he bought
. before IL had been used. paying $500
or il. 1t was conveyed TO two colored
rustees, one of whom died before Mr..
.arton came I'm possession Of the land.
Aiter some little debate the committee
ecided TO report the bill favorably.
The bin introduced by Judge Edmond
)n, OF Rockbridge. was briefly discussed.
'hich provides for an amendment of
res payable 10 nOtaries and justices OF
be- peace. The bin cOntelplates 10 in
-eese the fee payable 10 justices for the
wing Of civil-warrant cases from fifty
ants 20 one dollar. lie bill was finally
lssed by.
The committee then adjourned until
inuary 3. 1891