The pilot and transcript. [volume] (Baltimore, Md.) 1840-1841, 1840-09-15

he proceedings of the State Legislature; TO
that the Loco Foco members voted for bill q
prevent the issue of shinplasters, which was de-
feated in the Senate
Whenever an individual or party attempt to
defraud the public, they should receive, as they
deserve, the public sOorn; of the two, he who
attempts to cheat us out of our votes by falss
concentrations, is just as much more censurable
than the man who defrauds us of our money, as
our votes are more valuable than money.
The following is copy of the bill as before
the House:
BILL,
Entitled, an act to restrain Private Banking, and
10 prohibit any Corporation, or individual, or
association Of individuals, from issuing any
paper, mtendeu 10 circulate as paper '"'
rency.
Sec. /. Be it enacted by the General Assembly
of MARYLAND, That no person, unauthorized by
law, shall, from and after the passage OF TINS
act, subscribe to, or become a member ef, or be
in any way interested in any association, instr
tuition or company, formed or to be formed for
the purpose, directly or indirectly, of issuing
notes or evidences of debt, to be loaned or put
in circulation meney; nor shall any person,
unauthorized by law, subscribe to or become IN
any way interested in any bank or fund created
or to be created for the like purpose; and who
any such company, or interested in any such
bank or fund, shall forfeit not less than
500 nor more than $4,000, in the discretion oil
the Court trying the case.
Sec. 2. And be it enacted, That no incorpo-
rated company in this State, from after the pas
sage of this act, without being authorized by
law, shall employ any part of its effects, or be
in any way interested in any fund, directly or
Indirectly, that shall be employed for the Pur-
pose OF receiving deposits or issuing notes or
other evidences Of debt, to be loaned or put IN
circulation as money; and that any director,
president, cashier or any other agent or officer OF
anv incorporated company, who shall violate
any of the provisions of this section shall for
felt ten thousand dollars.
Ser. 3. And be it enacted, That all notes and
other securities for the payment of any money,
or the delivery of any property made or given to
any such corporation, institution, or company,
that shall be formed for the purpose expressed in
the first sectien of this act, contrary to the pro-
visions of the second section of this act, shall be
utterly null and void
Sec A. And be it enacted, That from and after
the passage of this act, person, or association
of persons, or body corporate, except such bodies
corporate as are expressly authorized by law,
shall keep any office for the purpose directly or
indirectly of Issuing any evidences of debt, to
be loaned or put in circulation as money, and
that from and after the passage of this act, and
at all times thereafter, no body corporate except
such as are specially thereto authorized by law,
and from and after the thirty days from and after
the banks In the State generally shall have re-
sured specie payments, no person association
of persons shall issue, pay out, or deliver, or at
tempt to emit o. circulate any bill, note, scrip
note. certificate or other evfdeisce of debt, in
tended to circulate as money; and that il shall
not be lawful for any individual, association or
corporation, directly or indirectly to issue, pay
out, or deliver, or attempt to emit or circulate,
or to print, or cause to be printed, on to cause
any plate to be engraved for any such purpose,
any bill, note, scrip note, certificate, token or
device whatever, representing, or intending or
intended to represent, or Purportlng to form any
portion of, or evidence OF claim to any portion
Of or interest in any share of, of any share of
the stock of any corporate company, or any bond
or other obligation of any State or corporation
whatever, or of any subdivided part of the same,
and intended TO be issued a currency, and that
every person, and every director, president,
cashier, and any other agent or officer of any
such corporation, who shall violate the provi-
sions OF this section, or shall directly or indi-
rectly assent to such violation, shall, for each
and every violation, forfeit the sum Of fifty dol
lars.
SEQ. S. And be it enacted, That all fines, for
FIXTURES and penalties arising and accruing by
virtue of the provisions of this act, shall be re-
covered by indictment IN the name of the State,
in the court of any county in this State, in which
the offences prohibited by this act shall occur;
and it is hereby declared that whenever any pa
par intended to circulate as money, prohibited
or intended to be prohibited by this act, shall be
put in circulation in any county in this State,
the same shall be considered a separate violation
of the provisions of the fourth section Of this
act, and within the jurisdiction of the county
court of such county, against the individual or
individuals, corporation corporations, which
originally issued and put the same in circulation
| as also against the person or persons paving out
or receiving the same in said comfy.
SEC 6, And be it ena tied, That nothing in
this act contained shall be construed to prohibit
any individual or individuals corporation or cor
Porations, from rcdeeming any paper intended
70 circulate as money, which is prohibited by
this act
SEC. 7. And be it enacted, That the oath to
be administered to the foreman of the grand Jury
for the different counties of this State, shall
from and after the passage of this act, be as fol-
| lows, 10 wit: You -, as foreman of the
grand inquest of the State of MARYLAND. for the
| body OF - county, shall diligently inquire
and true presentment make, of all such matters
and -hings as shall be given to you in charge. or
shall otherwise come to your knowledge touch
| ing this present service; and particularly that
you diligently inquire and true presentment
make, Of each and every individual or indix;-
duals, director, PRESIDENT cashier or other agent
or officer OF any corporation, who shall come to
your knowledge, as having issued, paid out or
put In circulation, any paper intended to circ,,-
late as currency, prohibited BY the laws of this
State, and especially by an act, entitled can act
tie restrain private banking, and to prohibit any
corporation, or individuals, or association of in
diyiduals from issuing any paper intended to cir
culate as paper currency" passed December
session, eighteen handred and thirtv-nine. chan
ter -, and also by another act entitled Can
act for the better regulation of the banking in
ititutions of this State" passed at December
session, eighteen hundred and thirty-nine, chap
ter =, the counsel of the State Of MARYLAND.
your fellows and your own, you shall well and
for envy, hatred, malice or ill viii: neither
shall you leave any one unpresented for love,
fear, favor or affection, or foi any hope or pro-
mise of reward, but you shall present all things
truly as they come to your knowledge. accord
ing to the best OF your understanding, so help
you God.