Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1820-03-14

Sec. 2. BE Il further eaoeied. That any
person or persons, who may act as press
dent, director or other oihcer OF any imde-
pendent hank in this state, contrary Ia
the provisions al This act, shall be subject
10 all the penalties, fines aud ierieilures
Imposed by an act 10 suppress private
associations for the purpose al banking,
approved February 8, 1912, which penal
ines, !lnrs and fortriinrrS aav nni shall
he imposed. recovered, collected and dis.
'ribn,ed according to the provisions of
the said last reci,ed act
See. ). he it further enacted, That the
bonds required from the Independent,
banks tor the privilege OF banking FOR Tie
wear 1920, shall be and the same is here
by repealed.
See. 4. BE IL further enacted, That so
much OF The act 10 incorporate Sanders
Manufacturing Company, which passed
The 3lsi day Of january, 1918, and HE
supplemental act thereto, approved Feb.
the Sd, 1878. which gives The sand compa.
ny banking privileges, shall be, aud The
same is hereby repealed: and the SECOND
section OF this act is hereby made aSpli-
cable TO the persons who NAV have the ma
nasement OF SAID manufacturing ins.ilm-
ton.
LEXINGTON, (Ken.) February 23.-The Gem
sidi 4 -scDby adjourned on TIE iith instant. utter
a session Of unusual length, and of uBgrece,iented
W"rmth and tnrbuence. Hariny consumed the
greater pert Of their time IN rSSess and angry de-
bate the members app ar fnaiiy to 6are concluded
that Il wds Indispensable for taem todo some hing;
dccordingly at The close NJ the session they afoDt
ed SereraI tars Of the msst ertrnre and ritat i'm,
Pcrtdnce TO the community. Trio of these Gue
published an orr lost number; oneea,ileti" an act
Of d f;1,, 4
other an act 10 repeaf the act establishing inde.
pendent Banks IN this commonwealth" Ipith re-
gard to The f'st ctthese re,y important luwS zee
confess that zee are nor prepar,d to decide npon
its merits.-We hare long been satisfied. that me
eaEnffy ras ina distressed and embarrassed con-
dition and 't wds generally beiierod to be within
the porer Of the legislature 10 provide far its ref;
but whcther that object uiHbe eDpctrd bythis lam
as extremely doHbtjM ne are not houerer so
much disposed to condemn this measure 0f reiief ~
others ar rh0beitere the country more cnsbrTrGss
ed than oce hure get been able 10 disc0rer II IRE
de n'Stahen on this point, and the present IaD
should De Jo"nd Insufficient, the property k.,1, or
some 0her measure OF reief. u, re decisirG ,cM be
dioP cd by the Heri Icg ;Siatgre.
The td,c Uhich repca' the charters of the indie
pendent Banks, tSOne Of the utmost i'm ortance and
m1gnaude not only ruth regard 10 its influence
infuenceon the cHrreEcgof the cOuntrg Int on
account Of the nStNHiiondi principle Jrhic al rsta-
6h>ies. ~ rs a practical ASST rtion of The porer
~ The legislature, orer an object whch has b. en-
"a
declaration Of right which has been iOng can
| raised, and pertinGciously denied. IL indeed in
roireS question dbOnt rhich much nIau BE- sid
on b0th sides. For 0HrSetres, incline to the
beH thdt on thiS there has ieen no riD-
iation Of the constitution NE cannot discorer thaf
tie legislature hare transcended their defined
polrrrs, an repcaLng idtU enacted hy their prede
SCISSORS, Dto possessed no greGtcr poicerS thin
Themselves. The preamble offheact contains the
7,ot'rrS and arguments Of the ddcrcates JOr the
repeat Which. MoHeh not rery hdppiy arranged
| are Jorcibiy oppressed In the language Of The
| constitution, 1t declares that no man or set oi
men, are entitled 10 exclusive separate public
| emoluments or privileges. hui in consdera-
ION OF public services. Tie chartered pririle-
geS erdntedtO the independent BdntS Were not 0G
| thiS character therefore. it may be argued, The
| gran; u'?S unconstitutional II this position is
c0Irecf, mus TeDiOre the directions rhich MUM
| W influence those JDh0 oppose tie reDeaI IhCy re-
g"rd the act Of Incorporation, as constitutional
| compact, concluded by the authorised agents of
the 't"fe, T1th certain iRGtridHaS associated for
banking purposes but II The abOue Tecited r0rds
of Tie con- tiiutiOn applicable to such assocIa.
| ton the OhriORS conclusion is that those Iuho
| granted the exclusive paTatc pubuC urN iieges
| ant emolnmeuts, riolafed the constitution, and
| not those lChO rescnded such uncnRSt itutiOnai
| compact. NJ The legislature Lcere iRcony,feat 10
| m"te such compact 10 r.ts not mereiu voidab!e
bnt absolutely ana ipso Jacto void from the com
mehcenieHt. The larger on THIS question iciN az
| CUE dWeTentiy he can cite 0viuloas and pre-
| csdents on the other side, and ne think 1t net
! tmprcbabie that tie right Of the legislature 10
repeat the charter of these b1ncs, IoiH be contested
| Inc eTpedteiicy Of the measure is more ours
| ttondGle 1t must he 0Hticipated If the Banks
instantly proceed TO ct0Se their business 6y rigid
ernctiOHs, thGt the eRbdrrGssReatS Of The courtry
| 1giH be McreaSed. nach time must eiapse before
! tie sound and wholesome mediUm of the country
can be erfTacdted from these institutions indeed
that does not seem to hare been the object Of tks
legislature, since they tdcitiy sanctioned The sHs-
| pension Of payment by the Stdte bank and Mereby
entatfed upon the coHInuntgthe eriis of spurious
! currency INpDorter
Extract from the Editor ofthe Trenton True
american, dated Washington, FEB. 49,
bill has been reported IL The House
OF Representatives, 10 amend the Pension
Aet OF March, 1873, so as TO give 10 OH
GERS entitled 10 a pension under that act
who served nine months aud less than
| three years, 30 a year for three years
only and 10 those " no served three wears,
or longer, 5 210 year for three wears and
afterwards 3 $50 year during life to
| Pr1CGieS, &c. who served nine months
ana less than three years, S 90 a wear for
| Three years only ; and to such as served
three years or more, 80 dollars wear for
| three years, aud afterwards S72 wear
during iiie-the sums already r, ceived by
any pensOner, to be deducted from this
| allowance. A new oath Is also prescribed
| Whether The bill will pass in this
! shape or not, is doubtful but il is Ger
tain that something ought TO be done 10
guard the Treasury against the fiagraut
| and extensive impOsitious now nra, itspd