The Yazoo City Whig and political register. (Yazoo City, Miss.) 183?-1840, 1840-01-10
GEORGIA BANKS.

The legislature of Georgia, though a ma
iority of its members are attached to the Adj
| ministration, are not afraid, it would seem,
| to pursue liberal course towards the Banks
of that State, with view of enabling them
to afford relief to the community; a bill hav-
| ing been simultaneously introduced for that
purpose in both houses. 1t was introduced
in the House of Representatives by Genl.
Glascock, distinguished leader of the Van
Buren, party, and little doubt is entertained
Of its final passage. The Recorder, an oppo-
sition paper at MiledgeviIle, says;
"This bill will satisfy the public mind, and
will give the banks the necessary informa-
ton to enable them to do what they certain
y ought to do, relieve to the whole extent
of their energies the pinching pressure upon
the people of the State; and to grant.the pro-
per monied facilities, for the purchase of the
cotton crop, at it's full value. The bill of
course indicates the entire confidence of the
Legislature, in the solvency of our banks; or
it would be fraud on the people to propose
it: it allows the Banks during the suspension
to issue bills only to the amount of'two thirds
of their actual capital: 1t obliges every Bank
once month to publish on oath full state
ment of its specie and other means, and of
its notes and other liabilities. 1t proposes a
day for the resumption of specie payments,
under penalty Of a forfeiture of their char
tiers; unless in the judgment of the Execu-
tive, it ought to be further extended, which
he is to do by Proclamation. It repeats du-
ring the period, the law granting damages,
for a refusal to pay specie. 1t compels after
the resumption, the Cashier of each bank
refusing to pay specie to write the words
''payment refused, J" on each bill so refused,
under $1,000, and enables the holder tore
cover on this evidence: 1t points out the
course for the Prosecutor to pursue, in such
cases against the Banks. Ii provides that
the Banks in their semi-annual reports to the
Governor, shall specify the amount due the
Bank by their Directors, by theirStockhol-
ders, and by individuals, without designated
names, and it further provides that during
the suspension, the banks shall only require
a reduction of their debtors of not more than
rs per cent. per annum, on theirdebts. "
IMPORTANT DECISION OF THE EEDERAB
CoURr.-We learn from undoubted authori-
ty, that most important decision has been
made by the Federal Court at jackson,
Judge Gholson presiding, in the case Of
9Hickman os. Rose," by which the doctrine
is established, that all contracts for negroes
brought into the State of Mississippi and
sold, are ''As 9rERcHANDIzE, = subsequent to
che first day Of Nay, IN the gear 1893, are
illegal, and as such, are NULL AND VOID.
This decision must; Of necessity, have amin
portant bearing on Mississippi debts to nor
them negro traders, to the amount Of at least
t1Do millions of dollars. W
This decision is based on the second
section OF the article under the head Of
Slaves in the amended constitution ofthe
State, In these words: W
''Sec. 2. The introduction Of slaves into,
this State as merchaadise Or FOR suIe, shsll
be prohibited from and after the hrst day Of
May, eighteen hundred and thirty-three.
Provided, That The actual settler Of settlers
shall not be prohibited from purchasins
slaves in any State ii this Union, and bring
ing them into this State for their own indiS
vidnai use, uni't the year eighteen hundred
and torty-bv.e .',-Frce Trader