Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-02-11

PRoGREss OF THE WAR OF HONESTY AGAINST
RoGUERY.-It was on the 18th of February, Anno
Donaini 1896 that Joseph Ritner, then Governor VI
the State of ylvana, put his signature to re-
charter Of the United States Bank, which had prev-
ousy passed both branches of the legislature under
the very extraordinary title Of an repeal the
State Tax Real and Personal Property, and TO
continue and extend the Improvements of the State,
by Railroads and Canals, and TO charter State
Bank to be called the United States Bank" The
strange, sneakng, mean, indirect method Of tack
ing huge bank TO the tail of a bill purporting to
repeal taxes and make canals and railroads, indi-
the dishonesty Of the locofoco Legislature which
passed it, and shadows forth the foregone conclusion
that cheating part Of the privileges con-
ferred. Well has this bank carried these pri-
vileges BE that it may, the following the
principal sections OF this law, as affecting the pre-
sent war, which have declared against the swim
ding institution itself
Sec. l. Repeats State tax.
Sec. 2. Incorporates the then existing stockhold-
ers Of the o. - Bank, excepting the u. - Of Amer-
ca by the name and stye OF he President Direc-
tors and Company ofthe Bank of the United States"
for thirty years!
Sec g. Prescribes mode Of electing Directors
Sec. T. Prescribes fundamental rules:
lst. As TO voting for Directors
ID. Rotation Of Directors
Sd. As to a quorum.
18th. As to general meetings OF stockholders.
9th As to what estate the Bank shall hold and
what they shall deal in.
9Th. The notes and bills which shall be issued by
order of said corporation, or under its authority
shall be binding upon IL. and then made payable Co
order; shall be assgnabIe BY endorsement, but none
shall be issued of less denomination than ten dol
lars; and ifthe Bank shall neglect refuse to pay
its notes or bills, or moneys deposited, when due,
demand made at the bank during banking hours,
the person persons entitled to the same shall
ceiye at the rate Of IL per cent per year interest
thereon until payment be made limits issues TO
amount Of capita makes Directors liable Tor excess
Of such issues.
7th. 1.-THE said bank should at any time refuse to
pay any Of its notes. bills obligations, or deposited
monies, in gold silver then at or after the eNpra
ton of three months from the time Of refusal Of such
Bank pay aforesaid il shall and may be lawful for
the holder proprietor OF the same, to make an APP
plication in writing any Judge of any Court in the
proper county 10 allow him her To make proof Of
such refusal on oath affirmation by one or more
dsinterested witness witnesses, before said Judge
whose duty shall be TO give at least ten days notice
60 the President Cashier Of said Bank OF the time
and place Of making such proof IN order that an OPP
portunity be afforded for rebutting the same by
testimony; and IL the facts be substantiated, ~ shall
be the duty of the said Judge to reduce the same ia
writing, and 70 transmit the same to the Governor
and Il shall be the duty Of the Governor immediate
on the receipt &c the written proof above spec ihed
20 issue his proclamation declaring the charter o
the said Bank TO be forfeited: and from and after the
tenth day after the date o the said amaion. the
charter Of the said Bank shall be absolutely null and
void and OF no effect whatsoever, except that the
said Bank shall be liable in its corporate capacity
for the fulflment Of all contracts previously made
and entered into by II; and the stockholders Thereof
shall have power to elect directors usual and BE-
capable Of compelling the lulhment of any contract
entered into with said Bank previously 10 the date
Of such forfeiture.
sth. As to dividends.
9th. Salaries.
10th Monthly returns TO the Auditor General.
Sec 5th. II shall at all times be lawful for Com
mitteo Of the Legislature appointed for that purpose
to inspect the books and TO examine into the proceed
ings Of the Corporation hereby created and to repor
whether the provisions Of this charter have bee
abused violated not, and II the officers Of sal
Corporation should refuse 20 be sworn OF afhrmet
or give evidence, or 70 produce all such OF the
books or papers as may be demanded before any sue