The state chronicle. [volume] (Raleigh, N.C.) 1891-1893, 1893-01-21
people he re pre-. entei the moneH borro

fgieiAture contained a large mum Der Of
farmers, and similar bill was defeated
oy thai body by large maiority. He
wanted to hear all the facts in the case
50 as t. decide the matter. Mr.. ZONES
has 8 convincing manner and speaks
well
Mr, Day thought the question should
De settled q dag and created a laugh by
ddobng the senate The Great Tn
ready. lie said he thought Mr.. Jones
"a' ready TO vote. The latter then
WAuted TO know how Mr. Day would
vote and Mr. Day replied: "For no
ctangen
Mr.. Aycock said he was here for the
thlrd time and had viewed the question
iut.yi he ia ught the ma rity Of the
! people Of North Carolina would be ben
eh,ed by bis measure It's the security
more than the rate Of interest that in
4 duces the capitalist to loan his money
! Dlrlng an era of unusual prosperity a
people can afford 70 pay eight per cent.
/ interest, but when the country comes
down to common basis there must
! he lower rae Of interest. This
| lower rate Of interest was one
/ OF the principal arguments of
the dem cratic party in the last cam
1 pa'gn IN defence OF state banks. Per.
sonaIly, he aid not like the lower rate
hnt when he considered the people Of
! North Carolina he felt himself obliged
70 vote for the lower rate It has been
argued that this wouli shut out capital.
/ i We have money IN this country that i,
/ laJu-lng Us, iet il g. High intere
/ M ans the Capitalization OF capit4l, the
uptulidl1g Of the town at the expense
\ Of the country. The speech was eloquent
aud delivered with considerable fire,
NJ. Sheriff. saw 10 reason why the
bill should be postponed He favored
the measure, Our forefathers prospered
under low rate of interest; he common
+ people cannot afford to pay eight per
cent. Ile security has more weight
WITH The n 1ey ler der than has the rate
u llterss5 Low interest means the great
est good 70 the greatest uumber. Mr..
4 Saeruu strongly defended the bill.
Nr. Morton wanted the bill c 1rsidered
at once; mos Of he II mbers. he thought.
ntd m4de up heir minds IN regard to
+ ii matter. Whenever Vol reduce the
rate q interest you take the mouey from
the peope who now borrow it, because
ne n Dey lender will not loan his N )ney
II tbs state a. SIX per cent
when lie can get eight per cent elsewhere.
1ou ctnlot compel capi alists to lend
thelc aDney at d certain rate Of interest
and tnIs bill would certainly exclude
cspi al besides when interest is reduced
ortter security Will BE- required He
made good speech opposing the BILL
Nj Lei heTwoJd arose 10 point Of
order. de thought the question was not
u5on the bilitslf. bu, upon the motion
i postpone The ch-ir decided that
the pyiat was vel taken.
Nr Fields favored postponemant; he
thought the question was one Of great
Importance aud the me- Ders ought not
to vote upon II until they were fully In
f0-m-9 TIE question seemed 10 h,ve
been hastily brought up and time had
not been gwen for full consideration
y han man has money to .oan he con.
slde-s bO-h the rate Of interest AMI the
security. # this bill helped the farming
asses he fav red il, but he wanted TO
9e fully informed before he went on
record. HIS sp ech was good Eresen
tatlon of the side favoring p)stponement.
MT LeatherWoCd wanted the matter
postponed because be wanted to r, f q
the sentmen. Of his people; this was
question Of great Importance and should
II De lightly considered He strong. '
and earnestly favored Mr.. Twitty's m0
ton.
Mr. P sey said the very reasons urged
by he adEocates OF postponement, the
full discussion Of this matter in the las
campaign Was the strongest point il
favor Of immediate consideration He
wanted il considered AID the matteI
settled at once.
Mr. Campbell did not want the matter
defended. He knew the sentiment, o
the people Of 8nncombe and they unani
N u.iy opposed the Dill
Dir. Oave regarded this as a most i'm
portant question, one deserving careful
consideration, and therefore be favored
NJ Twitty's motion.
Mr.. Pettigrew wanted the matter post
p1ued and commended 10 Mr. Day tht
o.d maxim: The more the haste the
less the speed The question will be
studied ID all Us phases much more care
fully if postponed He made strong
points in defence Of his position.
Mr.. Owen said this measure was on.
Of very great interest TIE general as
mbly Will be judged by their actor
il the matter and not by the amount o.
time consumed ia acting Therefore be
favored postponement
Mr Potter referred to the reports OF
the Supreme court for an argument il
'avor Of p0stponement. In these report.
we find frequently the remark: '.Thn
oil bears tie marks OF ha5ty legislation
ID bis section this question was not ar
gued in the last campaign and IN fac
many forgot, q the heat of the cam
paign. 70 pay their eight pr cent inter
st This legislature had t. undo mucf
# the work f the last Legislature alC
Y u.d probably be known as The Grea
Repeaers. He waited time for oon.id
erstjan
The motion then prevailed and on next
Wednesday az 10 o'clock this much de
a'edqlestion viii come up again.
o. motion Of Mr. B4ttle, senate bill
16, abrogating the capacities Of marriee
women was recommitted TO the juiiciar,
committee.
! Senate bill 1S9, providing for com
pensation for certain official services i
Johnson county, came up and passed it
second and third readings.
The bill incorporating the Bank o
Washington WAS taken up On motion
Of Mr.. Marsh the amendments were con
Cured IN and the bill ordered enrolle,
for ratification.
Serate bill ga. relative TO the passinf
Of FISH in Cape Fear aud other rivers
came up ana provoked quite debate
: Messrs. Lucas, Brown, McLauchlin, Q
Cumberland. Little, Olive. Aycock an
. Armstrong taking part. Al last the bi
I passed It's second AMI third reading
t without amendment It relates to
/ purely local matter.
q Senate resolution 155, looking to
. more thorough listing and collection Q
y taxes, was taken up Mr. Olive state
b that we lave as many as $50. 600 VII