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Virginia State Convention.
Tenth day.--[Second Session.]

Richmond, June 24, 1861.
The Convention was called to order at the usual hour, Mr. Southall in the chair. A fervent prayer was pronounced by Rev. J. B. Duncan, of the Methodist Church.

Mr. Macfarland submitted several ordinances from the Committee on Finance.

The regular business of the day, namely: the connection between the Richmond, Potomac and Petersburg Railroads, was then taken up. A motion to indefinitely postpone was lost — ayes 37; noes 53.

The main question was then put on the substitute to the ordinance, of which the following is a copy:

‘ "Be it ordained, That the Richmond, Fredericksburg & Potomac Railroad Company, and the Richmond Company, or either of them, is hereby authorized to extend their road, or either of them, through the city of Richmond, so as to connect with each other, and that the Richmond & Petersburg Railroad Company, and the Petersburg Railroad Company, or either of them, is hereby authorized to extend their roads, or either of them, through the city of Petersburg, so as to connect with each other. Should said companies fail to make immediate steps to make either of said connections, if the Commander in-Chief of the Confederate forces in this State deem said connections, or either of them, necessary for the defence of the State, the Confederate forces in this State may cause temporary connections to be constructed between the roads above mentioned, to continue during the war; or the Governor of the State, on the requisition of the authorities of said Confederate authorities, may cause such temporary connection to be made, and defray the expense thereof out of the funds appropriated to the defence of the State, to be refunded by the Confederate States, under the Convention of the 24th day of April, 1861; and in case the temporary connections aforesaid are made, then the authority given by this Ordinance to the companies aforesaid is hereby revoned."

’ The foregoing substitute was offered by Mr. Slaughter, and was adopted by a vote--61 ayes, noes 20.

An ordinance was then called up in regard to the calling out of the militia in portions of the State which may be invaded by the enemy.

Mr. Sheffey opposed a reference to the Military Committee, on the ground that the people of the West are determined to rise up in their defence whenever invaded; but as they preferred to do so by legal authority, he hoped the ordinance would be passed at once and without any delay.

In the course of the debate Mr. Garnett took occasion to pay his respects to the militia defenders of the State. If we have to depend on militia, he thought, we might as well give up the war at once.

Several ordinances were taken up and either passed or amended and referred, relative to the Banks of the State and the payment of interested bonds due in England, in specie — The whole banking subject was fully discussed, the privileges of monopolies dissected, and the advantages resulting from banking institutions to the communities in which they are located fully developed. Mr. Montague inquired if Banks which had suspended specie payment had not occasionally sold specie to private individuals? Mr. Macfarland answered 'No.' The ordinance was laid upon the table and ordered to be printed, and several ordinances on the same subject were adopted.

An ordinance treasoning Winfield Scott, and annulling all acts heretofore passed in his favor by the Legislature, and changing the name of Scott county to Davis county, and of Buchanan county to Stephens county, was taken up, promiscuously discussed, and finally laid upon the table for more mature consideration.

After a lengthy speech by Mr. Macfarland, Mr. Ambler propounded a question, whether money due from the North to the South has not been seized in Washington, as contraband of war? Mr. Macfarland answered "No." [We unhesitatingly say "yes," and we cannot understand why Mr. Macfarland should be ignorant of the fact.]

Mr. Ambler replied, and in response to a question from Mr. Macfarland, whether England ever refused to pay her debts, and all pecuniary obligations to France, even while engaged in war with that nation? Mr. A. said he had not looked into that question.

[As ‘"amicus curiŒ,"’ we sent a note to Mr. Ambler, informing him that McCauley's History of England shows the fact that, pending a war between England and France, it was made a penal offence for any corporations or Banks of England to make payments of money to the enemy. Mr. Ambler was thus enabled to reply to Mr. Macfarland, the last-named gentleman being completely dumb-foundered by the unexpected answer.]

Mr. Holcomer made an able and very forcible speech, which was listened to with no less attention than interest.

After which the Convention adjourned.

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