Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1817-03-11
ai.s> .NpR,A.,
TUESDAY, March II

The following sections of the law
incorporating the unchartered banks
in the District of Columbia, being
deemrd of primary Importance TO
those concerned, have been selected
by the Editors Of the Intelligenccr,
and published in anticipation of the
regular time of publishing that law.
We copy chem from the EntelIlgencer
Of Saturday last, Cor the satisfaction
of orr readers who may be interested.
Sec. 60. And be il farther enacted,
That IL thc said Bank shall, at any
time. fail or refuse to lay. on demand.
any blll, note, or obligation, issued by
said hank, in lawful currency Of the
United States, il required, or shall
neglect or refuse to pay, on demand.
in like currency, if required. az; mo-
news received by said bank on hepo-
site. { the person or persons entitled
to receive the same. then and liz such
case the holder Of any such note, bill
or obligation. or the person or per-
sons t. demand and receive such depo-
Sit &c aforesaid. shall respectively be
entitled to receive and recover inte-
re- on the same, at the rate of ten per
cen'rn Der annum from the time Dr
d. na, until the same be fully paid
an satisfied. And rarthcr it shall hc
laattl fer Congress forthwith to re-
woke and declare this charter TO be
ng!l and void.
&C. 81. And be it further enacted.
T 1T unless TIE president and direct
orr. for the time being. Of tn" said
bank. on the part OF the stockholders,
iilr their declaration in writing. in the
oairc O. the serretary Of the treasury,
wi.hin thirty days from the tine Of
passing this act. asserting TO anu a. 4
centins the charter granted by this
act, upon the terms and coniitioHs
herein expressed. this act shall have
NJ fierce or effect. and tho charter
hereby granted siiail'he void.
Sec GO. And be it further enacted,
That if the whole amount OF the CAPT
tal aforesaid of said hank. shall not
have be paid in. on or before the
first day Of January, in the year one
thousand eight hundred and nineteen.
then ne capital stock shall be limited
to the sum which shall at that time be
paid in, and the books of subscription
BE- thcnccflrth closed immediately. at
ter which it shall be the duty ct the
president and directors to certify to
the serrntary &c the treasury the
whole amount Of the capital oil said
bank so paid in.
Sec. 90. And be it further enacted,
That fi.0m and after the fourth day of
April. il shall not be lawful for any
unc hartered banking company, or any
association, partnership, or company
of individuals within the district OF
Columbia, to discount any notes or
other securities for the payment OF mo-
ney, or to issUc notes or bills, whe-
Their payable to order or bearer, or
any other securities. promises, or or
ders, for the pay ment OF money or
stock ; and every member, officer, OF
agent, of any such company, or asso-
eiate. or partner. Of any such associa-
ton or partnership, shall be held tr
be guilty of a misdcmeanOr. and for
every such Off"ncc, upon conviction,
thereof, may be fined il, sum not less
than one hundred dollars, nor more,
than Eve hundred dollars.
Sec. so. And be il further enacted,
That whoever. as president cashier, or
agent of any such company. or as an
associate Or partner of any such as
ISOLATION or partnership. shall, after
the said fourth day of April next.
sigr, countersign. or endorse, any
such note, bill on security, contrary
10 the provisions of this act, shall. in
addition to the aforesaid penalties. be
held to be guilty of high misdcmea-
nor. and may be imprisoned for "A pc
riOd not less than three, nor more than
twelve months, at the discretion Of al
jury.
Sec. 81. And be it further enacted.
That all drafts, bills, or other securi-
ties. for the payment of money, dis.
counted contrary to the provisions OF
this act, whether the same be payable
n any cnrh cnmnany asSnciatinn. or