Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-12-05
GEORGIA RANKS


The most important bill before III" Legislature is
that introduced To the House b. Cen Glascpck and it,
copy introduced 10 the Senate ~ Mr. Jour,on 1t il
the Legislative which w'll be proba5y adopt
ed by that body, IN relation 10 the banks. II is high
time that the public mind should BE- al res, on thls
matter. for until that Is done the banks cannot. they
desired act efficiently lnr good to the country. IN the
appropriate sphere of their operations. We have Civ.
en- Ills iii!l. the considerations due 10 the import
ancc OF the subject 10 which II relates. and pre-
pared to 10 thos. with whom our opinions have any
weight, thai wr believe with some oGicat"n il ough,
10 be passed. and ta lis effects the country viii be-
propi1ious II II proves so, II with great truth,
hc called Bill tor The rcri of The People; for them
will the great benefit chiefly cnrr. The banks II
Georgia, we have but It'll" doubt, are competent To
take mp all their circulation. and it "nv requires
reckless legislation on the subject, h. prove that thcy
can But such Il course would inevitably ruin the
country ii three millions cannot easily BE- taken up.
with the funds OF thc banks hand and thirteen mil
lions OF notes the people, it would he strange thing
truly But the payment of thirteen millions By the
people with all Bank facilities sealed up, ii must hc
apparent 10 the most superficial observer could only b"
effected BY total sacrifice of the property Of tie
country.
This bill will satisfy the public mind and will give
the banks the necessary Information TO enable them To
do what they certainly ought To do relieve the whole
extent Of their energies the inchEg pressure upon the
people of the State and TO grant the proper mon"d
facilities for the purchase OF thu cotton crop, al It's full
valtir The bill of course indicates the entire conf
dcncr -" the Legislature, III the Solvcncy Of our banks
or it would be- fraud the people propose IL it al
lows The Banks during the suspension, Ia issue bill.
only 10 the amount of two.thirdS "i thcir actual ca
ptal Ii ui.iigrs every Bank a month 10 publish
oath full statement of lis specie and other means
and of is notes and other liabilities proposes day
for the resumption OF specie payments ul:tcc leIa, ola
f6rf If their artrrs nni,s III The Judgment o thu
EXcritj;r il ought Ia Er further cxtcnGcd hch h. is
10 do BIZ Proclamation. Il rrp"alS during tn" period
tie law grantln" damages, TOR refusal Ia pay sprcI"
1t com"lS after tn" resumption. the Cashier 81 each
bank refusing pay specie to write The words pay
mcni refused. each bill refused, under penalty
of Sfmn, and enables the holder to recover on this
evidence: II points out the for tir Prosecutor
to pursue, III such against the Banks. 1t pro
vcs thai the Banks in their cni-anuu1l reports 10 the
Governor, shall specify the amount due the Bank By
their Directors, BY their stockholders and BY rdivdU-
ais. without designated names and ii further provides.
! that during the suspension. the banks shall Only
gun. q reduction of Their debtors of lo, more - per
! cent. per annuni. on their debts.
[NNcdgstW, Eecordsr Nor. 70.