Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1840-02-08

AF. IL HiH ui ! rlEiiiHEtf tiNNMtNs TX tHAt.c a"
most feeling appyaI 20 'lie understanding of'ae msm-
bers-comrng as lld, from an Old and much loved
citizen Of the STATE, il had good effect stirred
up the inactive, AMI made more ygiIant other mem
bers Of the cause Of human liberty aud equa rights
Mr. Kendall Of Yalabusha, followed. lie deien-
ded the resolutions on the very broadesi grounds Of
right and reason He was listened TO with great
respect by both parties.
Several other members followed aud explained
their views.
WEDNESDAY, %.
Nothing of general nature came up this NOR
ming.
Gen. l.. A Besancon introduced the rorowlng
biIl-lOOO copies ordered to he printed
a BILL,
To be entitled IN act requiring The sersral
Banks Of This STATE 10 pay specie, and for
other purposes
Section /. Be il enacted by The legislature
Of The STATE Of .Mssssippi, Tim, from and af
ter the first day Of April next all the banks, and
other moneyed corporations, in this State shall
be- required to pay specie on all their notes, Of
Whatever denomination, their bills checks, certif.
cafes Of deposlte and All 0aher evidences of debt,
upon presentation Of the same at their respective
banking houses, and, upon failure to comply with
the foregoing provision, their corporate powers,
privileges and franchises, shall thereafter cease,
be null and void, and Of no effect, excert for the
4 purposes hereinafter mentioned
Sec. 2. BE ii further enacted, That, shouIp
any bank, or other moneyed corporation, in this
State, from and after tbe time prescribed in the
first section of this act, refuse to paw specie on
all ITS obligations, In the manner therein prcscrb.
ed II shall be the duty of the president, cashier,
OF teller OF the same, 10 endorse his name on the
back OF such bull, note, or other obligation, which
endorsement Shall be held and deemed, to all IN
tents and purposes, as evidence of the refusal Of
sad bank to pay specie; and should the presi-
dent, cashier, or teller refuse 10 endorse his name
as above required, he shall DO liable to indct.
mCnt. and on conviction thereof shall be fined
one thousand dollars, and imprisoned SIX months
Sec. 3. 10 ii further enacied That, when.
ever the Governor, either irom the certificate Of
the president, cashier. or toer, as aforesaid, or
bv affidavit Of the holder Of any note, bill, OF 9TH
er evidence Of debt. shall be satisfied that such
presentation has been made and payment with.
held, he shall forthwith issue his proclamation, de-
clanng the charter OF such bank, or other money.
ed corporation. forfeited, null and void, excep,
that It, or they, may remain competent TO suo aud
be sued, IN Their corporate names, lol the purpo-
SEES Of liquidation only and il shall be the duty
olthe Governor torhwilhto appoint three compc.
tent commissioners in each case, who shall i'm
medIatey take possession of the assets and pro
perry Of the delinquent institution, and shall forth.
with proceed to the collection of all debts due il.
and to the payment of all its liabilities, without
preference or Partially, forcing collection alike
upon stock notes as other bills receivable
Soc. !. he II FARTHER enacted, That when
ever any such bank, or other moneyed corpora
ton, or association, shall have been proclaimed
by the Governor as having forfeited its corporate
franchises, the commissioners appointed by the
State shall proceed to take charge Of the assets
and property o. such bank, or other corporate
body, and proceed forthwith to adjust, in liquda-
ton only, the affairs thereof; and should said
commissioners. appointed by and on behalf OF the
} the State, be refused the possession of he assets
and property OF any such bank, or other moneyed
corporallon IN order to the discharge of their du
ties, said commissioners, on application in term,
time or vacation, on Grng FIVE days notice to
The opposite party, to any chancellor Judge of
: High Court Of Errors and Appeals, or Judge Of
/ Inc circuit court, may have awarded TO them the
States writ oil injunction. restraining the officers
OF any such bank, or other moneyed association
from exercising any control or authority over the
assets and property of the bank to which they are
l. attached as any Judge, so applied to. may order
= the surrender to such commissioners of amid as
y sets and other prop rty, and for disobedence tc
y the process OF injunction, and the order of an,
81 such Judge. the said judge NAV direct an attach
ment for contempt, to issue from any clerks Of
4 fee, retu'nabe before him forthwith. and shall
A. have power to impose fine and mprison 70
Sc such contempt Provided, That such fLe sha
ry not exceed one thousand dollars. and term Of i'm
pTlsonment not exceed six months And in ad
ne diton thereto, any officer or officers of any sue
nv bank, or other moneyel corporation for any sue
refusal to surrender the assets and property III hi
s. possession ond charge nuy be subject, to indie
cd ment, and, on conviction, shall be fined in u SUI
ni not less than two thousand dollars and he ilnpt
&c soued for a term no, less than six months.
e, Sec. o BE il further enacted, That il, aft,
-" the Governor shall have issued his proclamatio
as provided in the first section Of this act, decla
led ing the charter OF any bank, or moneyed corpor
ra- ton, forfeited and annuled, such bank or none
TO ed corporation. or any individual or individual
'e- under cover Of the same, shall, upon any preen,
The whatever make issue OF any note OF bill, or
80, or pcrorn any act, except for the purpose Of
qudotion, the offender OF offenders shall, on co
nm ve,oh, be sentenced to the pennenIiary for tel
IN not less than one year, nor more than five n
to shall said commissioners, appointed by the Ex
NJ curve. aRow dividend to be declared until eve
: liability OF the bank shall have been paid.
~, VI Sec. 6. BE Il further enacted, That Il
notes, certificates of Opposite, checks bills of c
H. change, or other evidence Of debt Of each bank
se, moneyed coporasion in this State shall be recei
ed al par IN payment q! debts due the same. II
shall the act transferring the same impair the RIG
IN OF the holder OF any Of the saf notes, cerliicat
use Of the deposte checks, bills Of exchange or 9th