Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-12-24

amongst u.s. Let at once make honest effort 10
meot our liabilities with our means.
LOCO FoCo.
AN ACT 10 regulate the intercourse beueen The Banks
rf this State and other Institutions ard BrokcTs-
| Pissed 22d Dec, 1896.
l. Ifapy Bank, or other Institution, which is, shn!l,
or may be, incorporated by the General Assembly OF
The State Of Georgia. other lawful authority OF The
u. S. or any Of hem any broker, or any agent,
attorney, any officer of any broker or bank, or
other institution, aforesaid shall, at any me alter
the passage of this act collect acquire purchase, ORE
ceve whether in deposit or otherwise, The bull or o'S'
note notes. other security securities, OF any
bank CT banks hch is, ARE, SHALL may be, IN
corporaied by The General Assembly OF this Stale or
located in this State, by lawful authority, such bank
other institution, broker, agent, Attorney or on
GER collecting, acquiring, purchasing, or receiving
snch bill bills note, notes, or other security or
securities shall not be entitled 10 claim demand,
have. recover Of or from such DINER Dahks
incorporated, chartered By the General Assembly,
Of this State, located therein, BY lawful authority
as aforesaid interest such bill bills, note, or nolts,
or other security or securities, above, or beyond the
rate Of, fonr per centum per aunum-PTor'dtd, lhal
nothing herein contained, shall authorize or allow any
Bank refuse Iedeeming any Of iis bills, winch sha
have been received payment for land al any Uniiea
States Land Office upon demand for payment mace py
any United States agent.
2. Whenever q demand shall be made for specie.
upon either Of the Banks incorporated by the Gcneai
Assembly Of the State of Georgia. or upon any Bank
|
or Cashier Of the Dank, upon which the demands sai
be made shall suspect, believe, that the person DE-
handing apece, the officer agent, or attorney OF any
broker, any incorporated Institution whatever, whc-
ter authorized by the General Assembly OF the Stale
of Georgia. located therein, by lawful authority OF
created by authority of any OF the Slaes !, shall oe
lawful for the Cashier, President OF The Bank, from
which specie shall be demanded, TO require the person
persons making the demand, to take an oath before
Judge, JUSTICE Magistrate in the presence OF SAID
Pres mt or
agent, attorney of any broker, OF any incorpor
alton whatever-And, in case OF refusal 10 lake SAID
OATH by the person. or persons demanding specp, then
such person. persons, shall not be entitled TO claim
demand recover or receive interest such BILL or
bills note or notes the rate Of four per centun
per annum.
Nothing in this net shall be go construed as TO de
prive individuals, brokers, their agents. cxcep'ed
who may demand specie for themselves for the notes
or bills other securities Of either OF The banks m
cor pofaed by the General Assembly OF the State oil
Georgia. or located therein By lawful authority, from
The privileges and advantages IN obtaining specie
or interest," as exist by The lave OF this State
Act of Gath December, 1889.
| when any Bank now Incorporated, or which mag
hereafter be incorporated in this State, eho refuse or
fail pay specie for any of is bills, noles, drafts or
other writing for which they may he hound, when De.
manded by any individual or IndivIduals and held as
his, their properly, upon suit thereof such ndi
vidual or individuals, in addition to The lawful interest,
shall receive ten per centum damage for such refusal
or failure, upon the refused failed 10 be
redeemed in specie
| Provided, Tina, nothing in this act shall be con.
srued au,horse any bank, other incorporated in
stuton, or broker, TO recover TIE damages contem-
plated by this act
P S. !, may be objected. lbn, the stocks belong 10
the Literary and other funds, and ought not to be ap
propra,ed n sinking fund. | reply, that all those
| funds part and parcel of political humbm ggery
which has nnisered much towards keeping the people
in The dark financial condition. Consc llda'e
ali tie funds and let the revenues appropriated Ia"
10 purposes Of education, be direct charge on the
Treasury, annually reported TO the people, and MOI dis
guised by many and such intricate divisions into Sc
para,e funds that is often difficult to underItA' nc
them. The money will be neither increased nor din II
nshed by the operation and the taxation necessary 10
sustain the charge great in the other
The revenue of bank stock, liable 10 many nncer.
lainties TO amount, would he substituted By Incorse
as certain that derived from taxation, and taxation
itself annually reduced 10 the amount OF the payment
Of the debtors 10 the Commonwealth. Those debtors
with such favorable terms, would constitute certain
reliance, particularly If the security, srch az The law
| requires should be given. LOCO FOCO.