The times. [volume] (Richmond, Va.) 1890-1903, 1898-02-19

thestate OF Virginia I'm amount to equation
their make and value) the fun value ana
amount of the obligations OF said BANK 20
sold and issued said bonds so depositeh
TO be held In trust by the Treasurer oi \
Virginia as a guarantee and redemption
fund for the redemption and paying Oh
such obligations OF the bank OF issue.
3. BE IL further enacted that any oaihh
may at any time present TO the Treasurer
OF Virginia for redemption and canceila-
ton any amount Of its said obligations IN
sums Of 800 and over and receive and
withdraw from such guarantee and re-
demption fund State bonds equal In value
TO the obligations so presented for re-
demption and cancellation, said redeerne'l
obligations TO be forthwith mutilated ana
destroyed by the Treasurer or Nlrslnia
and a duly certified certificate OF such oe-
struction shall be furnished 10 the Dahh
OF issue by the Treasurer.
4. BE It further enacted that whenever
the president of any State bank shall no
tify the Governor that any tax whatever
IS sought to be enforced against SAID
bank, by reason OF said bank having
taken advantage Of the provisions Of this
act. It shall be the duty Of the Governor
TO at once instruct and require the Attor-
ney-General Of the State OF virginia, 10
take whatever legal steps may be neces-
sary TO prevent said bank from the pay
ment of said tax.
4. BE it further enacted by the authorl-
" aforesaid that all laws and parts OF
laws in conflict with this act be, and the
same are. hereby repealed.
MIR. ANDERSON OBJECTS.
Mr.. Anderson. OF this city opposed the
bill in its present form. saying that the
measure provided that bank notes should
.l,s. leo sill
lion. but II did not fix its price and would
therefore not add TO the value OF silver
nor would it promote the interest OF 1t.
In order 10 know whether these bank
notes are good or bad person would
have TO refer to a report or keep up with
the financial situation as 10 the solvency
OF the bank. II the bill was enacted there
would be merely a repetition Of the wild
cat system Of the past.
In national banks the notes were secur-
cd by the bonds deposited by the bank.
There the deposits and the issue features
were separated. but this was not the
case with State banks. as provided in the
bill. The amendment offered by Mr.. Jen-
nings, OF Lynchburg. however. remeded
the evil to some extent. II the bill was
to be passed. Il special fund should be
provided for to meet those notes and the
price OF the silver should be fixed under
which the notes should be redeemed.
Judge Watkins was opposed 10 the
amendment Offered by Mr.. Jennings be-
cause he thought there We're sufficient
safeguards thrown around the bank notes
TO be issued. After some further discus
sion the pending question was ordered on
motion OF Mr.. Early Of Greene and Madi-
son and the amendment offered by Mr.
Jennings was then rejected.
Mr. Pitcher. Of Fauquier offered the
following amendment TO be inserted after
the first section:
'Ali obligations issued by the said banks
snail be signed by the Secretary of the
Commonwealth and n registry shall be
kept by him OF the number. issue and de-
nomination OF said obligat+-ls. But the
signature Of the Secretary Of the Com
monwealtb shall in no way bind the state
OF Virginia, and the Secretary of the
Commonwealth shall receive as a fee
from the bank the sum Of twenty-five
cents TOR every one hundred obligations
so signed by him.
THE BILL PASSED.
The amendment was then rejected and
the original bill ordered to its engross-
ment and third reading by a vote of &c
TO D. Section in the bill which had
been stricken out by the Jennings amend
ment, reads as follows:
.. BE IL further enacted by the author
ity aforesaid, that all of the property.
both real and personal, OF any bank sell
ing obligations of the kind and descrip-
ton hereinbefore set forth in paragraph
one Of this act shall be. and the same are,
hereby pledged, and a lien Is hereby Gre
ated thereon for the payment of the
obligations aforesaid. in favor Of the
4 tod
on the property Of said bank. both real
and personal. as aforesaid. is hereby de-
clared 10 be a prior lien TO any judgment
or decree or lien whatsoever except taxes
due the state, or any county or munich
pality thereof
me special orders were then tempo
rarity postponed and a number of local
bills were disposed Of
House bill No. 55S was next taken up
as special order. II amends section 62i Of
the Code in relation TO what property Of
tenant or other person I'm possession La
bile for distress, limitation of liability.
when taxes and levies on land 20 be APP
portioned. The bill was after some little
discussion ordered 10 be engrossed and
subsequently passed.
When House bill No. 232 came up in its
regular order. providing for the estab-
llSNUtul OF n bureau o. ldupi anu HI
dustrial statistics. il failed 10 pass, a
constitutional vote of at least q. votes
being necessary. There were A. votes cast
IN the affirmative and in the negative.
Mr. Craig. Of Rockbridge. moved 10 re-
consider the vote and the House then
adjourned
PLACED on THE CALENDAR.
The following bills were introduced and.
under suspension Of the rules, placed
on the calendar:
No. rs, by Mr.. Hicks. Of Roanoke: To
amend and re-enact Chapter 1872 Of the
Acts Of 1893 and 1891. for the protection
Of game in the county Of Roanoke, or so
much thereof as refers 20 the killing or
deer in the county Of Roanoke.
No 776 by Mr.. Garrett. Of Henry: For
working and keeping In repair the public
roads in the county of Henry.
No III. by Mr.. Jennings, Of Washing
ton: To authorize the Commonwealth At
torney for the city Of Bristol 10 collect
taxes due by the Bristol Land Company.
No rs. by the same: To amend and re-
enact Section IS Of an act 10 change the
name OF the town OF Goodson, ana pro-
vide new charter for the same.
No 10. by MIR. Watkins, OF Prince Ed
ward: To amend and re-enact Section 10
Of Chapter Of an act 10 provide Tor the
assessment Of taIe- on personal property
and incomes and on licenses 70 transact
business and imposing taxes thereon for
the support OF the government and public
free schools. and TO pay the interest on
the public debt. and prescribing the mode
t-fw "a coll