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Alexandria, Virginia
What is this article about?
Virginia House of Delegates discussed but tabled a resolution by Mr. Stevenson to raise 20,000 militia for defense, contingent on U.S. funding. Passed bill to borrow $50,000 from Farmers' Bank at 7.5% interest to pay state troops, repayable in 1815.
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Full Text
Resolved, That it is expedient, to raise by such classification of the militia as is recommended by the first proposition of the military report from the Secretary of War, or by some other classification of the militia, twenty thousand men for the defence of this commonwealth, to serve for three years, or during the war:--Provided, that the government of the United States, shall declare that the said troops shall be paid, clothed, and subsisted at the expense of the United States.
This resolution and the report have not been acted on--they both lay on the table.
Yesterday the House of Delegates passed a bill authorizing the Executive to borrow of the Farmers' Bank, $50,000. With a view of paying the troops now in the field, in the service of the State, a Resolution was same day also passed, by the Legislature, authorizing the Executive to effect a loan--the Farmers' Bank agreed to make one, on condition that they draw an interest at the rate of 7 1/2 per cent and the principal be returned out of the first monies which shall come into the Treasury in 1815--and upon the Governor's making a report of it to the House of Delegates on Tuesday, the said bill was passed by the House.
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Where did it happen?
Domestic News Details
Primary Location
Virginia
Event Date
Tuesday Last; Yesterday
Key Persons
Outcome
resolution and report tabled; bill passed to borrow $50,000 from farmers' bank at 7 1/2 per cent interest, repayable from 1815 treasury funds
Event Details
Mr. Stevenson submitted resolution to raise 20,000 militia for commonwealth defense for three years or during war, provided U.S. covers costs; not acted on. House passed bill for Executive to borrow $50,000 from Farmers' Bank to pay state troops; bank agreed on specified terms; bill passed after Governor's report.