Staunton Spectator, And General Advertiser

COUNTY DISTRIBUTION.

Monday (the 20th) having been consumed in the consideration of the Senate's amendment to the Louisa Rail Road bill, the resolution of instruction to the Select Committee on increasing the Banking Capital, with the amendment of Mr. Peter, pledging the interest on the stock created by the surplus fund to County Distribution, was not taken up until Tuesday, when with the leave of the House of Delegates, the amendment was withdrawn. Mr. Peter announced it to be his purpose to introduce the proposition again in a distinct form, and that he withdrew it only because he was not disposed to delay the action of the Committee and the House on the Bank question. The instruction to the Committee was then agreed to, which is in the shape first presented by Mr. Stuart, as follows:

"Resolved, That the Select Committee on Banks be instructed to prepare and report one bill, providing for an increase of the Banking Capital of the State, to the amount of five millions of dollars, by investing in the new stocks $2,500,000, on behalf of the Commonwealth out of the surplus revenue of the United States, and by individual subscriptions to the amount of $2,500,000."

The Select Committee obtained leave to sit during the sessions of the House.

P. S. The Bank Committee reported a bill on Saturday, for the creation of four Independent Banks, to be located respectively at Richmond, Petersburg, Norfolk and Lynchburg, and for an increase of the capital of the existing Banks, designating the amount of individual capital to each, and their proportion of the Surplus investment, according to the instruction of the House. Mr. Harrison gave notice that he would on Monday move a substitute, creating but one new Bank instead of four. The report of the Committee was ordered to be printed.