Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1841-12-11
CHAP. l2.-AN ACT to revive and

of certain banks i'll the District of COLUMBIA
SEC. l. Ben enacted The Senate House OF Rep
yeseaqt,es of tie United Statcs of .In,erica Congress
assembled That the charters of the Bank OF the Metroo-
lis, of the Bank OF Washington, and OF the Patriotic Bank
of Washington in the city of Washington; the charter oil
the Farmers and Mechanics Bank of t'eoretoWn IN teose
town. the Farmers Bank OF AieXan6a,
and OF the Bank Of Fotomac the town OF AIeNahfia,
be- and egeray and respectively hereby re-
vyed: and all the powers, rights, privileges, Immuhtics
limitations, prohibitions, and IestrI tons contahcd III sa"
hereby renewed extended, and made applca
in full force each Of said banks, respectively and to
the presidents. directors, other officers, and stockholders OF
each of them, in the same mnnner and to the same EXTENT
grarte aud provided by the said several and rcsFec-
charters, and laws in force the first day OF jan
tho eighteen hundred and thrty-eiSht, SUBJECT
the limitations and provisions hereinater contained
Poriied Said banks SHALL each for ITSELF from and after
ihe of this and continue the payment
of all its and specie Liabilities III specie, on demand
AMI each and of said banks failing to resume specie
payments as Aforesaid, within ten days alter the passage
OF this or having resumed specie payments again sus
pending refusing any of ,s other specie
liabilities specie, when legally demanded shall
lend after the first day of Marc next the notes
"f suspended bank, paper currency whatever
which not equivalent 10 gold and silver SHALL FIST
be excluded from all participation III the privileges
and provisions Of this and, in the second case. shall
,o cto forfeit all benefit and privilege granted by IL and
shall be the duty district of the United
States for the District of Columbia, information lod
ed with him of such suspension refusal IN spe-
Gle by of said banks take forthwith the necessary
ana pFoPe' S steps 10 e''e zoe hereo5 p'o
vded for such refusal suspenson and compel every
uchdenueni bank proceed to wind its concerns
der and agreeable to- the OF the act of Congress
entitled Au conale the existence of
ses approved the third day of july i'll the eighteen
hundred and forty.
SEC. > lind be further enacted, That each ana every
of said banks shall be- and they hereby expressly pro-
hbited from making loan loans whatever upon
pledge of stock said bank for the
of said loan and they hereby required, all
loans existing such pledge OF stock, 10
and exact before renewal such soc
loan shall be granted other sufficient security for the
the orn and 10 the usual III said banks
King ordinary loans And the president and directors of
each Of SAID banks hereby made individually liable
all hole loan,
loans hereafter made renewed contrary aforcsong
provisions by them any of them with
funds of any of said banks
the president director every meeting
every president and director who shall present any
said, shall be made extended, shall be deemed have
his protest, writing against said loan the minutes
their proceedings.
SEc. 3 Had be it further enacted, Tha, in each and
fsad banks. all loans existing president,
cashier, director. other officer either principal
euy. TO amount than thousand dollars shall
be regularly euriaed reduced. of at least
"ehtyhve cent one-toursh OF the whole amount,
IN due proportion each renewal at the expira-
ninety days excessively, until the of such loan
~ no instance, exceed the amount of ten thousand
"is .oFesaId And no new loan or loans shall hereaf-
YER on any pFetenee whatever be made president,
director, or other Officer either principal
N.Y. 10 greater whole including the unpaid