Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-03-31
ACTS OF THE LEGISLATURE.
We copy from the Compiler summary Of the
provisions Of III, act concerning the Banks:
THE BANKS

We copy from the Compiler a summary Of the
provisions Of III. act concerning the Banks:
THE BANKS.
IL RENTS the forfeiture incurred by the banks for
the yment of specie and restores their char
tiers; suspends until the first of January next the
provision which authorizes any person to recover
the amount of notes debts from the banks by mo-
ton on ten days notice; repeats much Of any act
subjects the banks forfeiture Of charter for fail
ing 10 pay specie, reserving TO the legislature
the right to modify or repe al their charters at plea
Suspends, until the LIST Of April, 1912, such acts
rs subject the banks to pay ten per cent damages
and fifteen per cent. interest for failing pay spe-
Gle, and subjects the banks, after the LIST OF Janua
ny next, 10 the payment OF twelve per cent interest
for such failure: suspends until the LIST Of April a.
foresaid, such acts prohibit the banks from issu
Jag notes of less denomination than twenty dol
lars, and from receiving in payment on deposite
the notes of banks out Of the state below dollars;
no bank however to issue or put in circulation any
note OF less denomination than ave dollars, except
as provided by act of the present session.
Prohibits the banks whenever, after the LIST OF
January next, the proportion of coin held by them
shall, TO the paper circulation, be less than to
FIVE, and shall so continue for sixty days. from max.
ing any new loan or discount until by curtailment,
or otherwise the said proportion shall be re-estab-
lshed. Authorizes the holders of notes, after sus-
pensions of specie payments by the banks, to pre-
sent the notes Tor payment, and II payment be re-
thereon the fact date Of such presentation and
declares that such note shall thereafter bear an in
terest OF SIX per cent. per annum until paid and up
refusal of the officer TO make such endorsement
the holder or bearer oil any note so presented may
obtain judgement for the with twelve per cent.
interest from the time Of presentation; makes il fe
ony, punishable 10y confinement in the pententiary
for term no, less than two more than ten years
for any officer clerk OF any bank wifully TO make
or suffer to be made, any false entry, and TO omit
ma nv mr. IN lfarn
try in any account kept in the bank, with intent TO
conceal the true state of the account, 10 deraud
the bank, or 10 enable any one TO obtain money To
which he is not entitled. Fixes the annual meetings
Of the stockholders OF the Bank OF the Valley or
the third Wednesday in May. Gives the legislature
the right to alter modify the charter of any bank
accepting the benefit Of the act or any part Of it,
Requires the banks TO redeem their notes hereto
fore issued under the denomination OF five dollars
whenever presented at such banks or their branch
rs, and whether emitted or issued by such bank or
agency, where payment is demanded or not, and
Tor failure be subject TO all the remedies and pe-
naties prescribed by the act passed during the pre-
sent session to allow the issue Of small notes.
THE LAW IMPOSING TAXES.
Thislaw, known in its progress through the legis.
lsture as the "tax BILL increases the taxes on lands,
from ten TO twelve and half cents on every hun
dred dollars value; on houses and lots in towns from
two dollars and half 10 three dollars every hum
bred dollars value; houses and lots in towns i'm
proved and not rented or occupied from ten TO twelve
and half cents as Aforesaid; on slaves from thirty
20 forty cents; stations the tax last year.
with provisO that not less than six dollars be paid
on each one let TO mares; carriages from one 10
one and fourth per centum on their value; pro-
Weed not less than three dollars shall he paid on
each stage coach and harness. On ordinary licenses
from eighteen to twenty dollars; houses of pri-
yate entertainment from two to three dollars; on
wholesale merchants from co 10 rs dollars on retail
merchants the same tax last year, with proviso,
Nts,Na a.. IL, H.
ardent spirits under the act passed March ,, J54O
they shall pay additional tax Of ten dollars Ii.
censes TO vendue masters and brokers not TO be
granted for n less time than one year; on hawker'
and pedlaTs from twenty-five to thirty dollars; and
exhibitors OF shows from thirty TO forty dollars
fRiehmOnd Compiler.