Edwardsville spectator. [volume] (Edwardsville, Ill.) 1819-1826, 1823-01-18
HOUSE OF REPRESENTATIVES,.
SATURDAY., January 4,

Saturday, January 4,
Mr.. Ford, presented the petition O
sundry inhabitants of Crawford ane
Clark counties, praying that persons
conscieniovsly scrupnlous OF bearing
arms may be exempted from military
duty without zoe; referred to the com
mi'tee on the revision Of laws.
Mr.. Pugh, from the committee OF
petitions, TO whom was referred the pc
ution Of Mary Farr, reported by bill
which was read The first time, and order
ed to second reading on NJ onday neS
Mr.. Biakcmau, from the j lint COM
mitiee appointed by both Houses of the
General Assembly to examine into and
repor, the situation of the State Bank,
reported as follows:
The joint committee of the Senate and House
OF Representatives, instructed by Joint
resolutionto inquire into the situation OF the
State Bank, beg to report
That after having entered into a par
iicular Investigation of the books and pa
pers Of that institution, and alter having
counted the cash on hand. have great
pleasure in stating, that the res"l, Of
their inquiries correspond with the re-
port Of the Cashier OF the Bank, laid
before the General Assembly on the 10th
ultimo, with the exception OF the cur
ront dcposite transactions since that
period. The information obtained, re-
iatve TO the situation of the several
branches Of tae State Bank, was not as
satisfactory as the committee could have
wished, in consequence OF the deialca-
lions on the part OF the branch Cashiers,
IN not furnishing their semi-annual re-
ports, as required by law the branch
bank at Edwardsville having furnished
the only report Of its operations for the
last year. The committee would, there
fore, recommend to the Leg stature the
adoption Of such measures to enforce
punctuality in the transactions OF those
o the mo her bank and they are also
ST opinion, that it would add greatly to
the security Of the bank, to have tran
script from the discount book of each
branch forwarded to the principal bank
at least annually, SO that in case of fire,
or any casualty happening TO either OF
the branches, the bank would be in pos.
session of sufficient evidence to enforce
the payment ct debts which withou, this
precau,ion might be entirely lost
The committee also recommend that
the different branches of the State Bank
should be required to transmit, annually,
10 the State Bank, ten per cent. On the
amount of their original capital, for the
purpose ofmpre cffsctually carrying in
to effect the provisions of the 29th sec
ton OF the charter of said institutions
which requires the annual extinsuish-
ment of one tenth part of the original
capital of the principal Bank-which
amount the committee would recon.
mend to the Legislature TO have destroy
ed biennially, by a. committee to be ap
pointed for that purpose as i, would
have tendency to increase the conf
dence ofthe public in the institution, ane
release the officers from considerable
responsibility, which must otherwise ex
list.
The committee are also of opinion
that the bonds given by the Cashiers O
the different branches, should be for
wardcd to the mother Bank--,hat thu
Cashier Of The mother Bank should bt
! required 10 keep regular interest &C
count with the Treasurer, so as TO show
distinctly The amount of'interest allowed
and rereiyed on account Of the funds O
the Siate-and that the 56th section 0
the act, entitled =" An act establishing
the State Bank" and the Is, and All
sections Of an act supplemental to tn
!, same, should be repealed. The com
mittee would also suggest the prophet
; Of appointing three qualified and dis
Greet persons TO examine into the situa
ton OF each branch Of the State Bank