Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1842-02-11
From the Ohio State journal.
PROGRESS AND SCOPE OF BANK
REFORM SECOND EMU MERA-
TION OF BILLS.

HUN Or DlbbS'
Our readers may remember that some
two weeks since, we published an enu'
meration of the titles OF al! the bills
which had then been reported TO the
two houses, with a brief abstract OF the
object and provisions Of each, by way
of keeping the public informed Of the
progress and scope of Bank Reform
under the auspices OF the present lead
ers Of the party. Seren separate and
independent bills fell under our obser-
yaliou at that time. Since then Varie
~ Of other propositions of a similar cha
racter have been enunclated. which 1t
becomes our duty to report 10 the peo
ple in like manner. We continue the
nu,nbe ring 10 the order observed before.
No. 8 originates with Mr.. Holmes OF
Cincinnati, and takes The following Il
tie:
"A BILL
"Declaring the forfeiture Of charters
for non user. and their subIecIlon to
the will Of the Legislature.
Sec. provides that when any incor
porated company shall neglect to or
ganize under the law Tor one year; or
lforganized, shall become aud remain
insolvent for one year, or shall for that
period suspend its lawful aud ordinary
business. it shall be deemed to have eX
pired and forfeited all its rights.
Sec. Q makes the same rule applica-
ble to any incorporated bank already in
existence, which shall have suspended
its ordinary functions for one year.
Sec 3 prescribes the penaINy-G TO
l2 months imprisonment. which any
veraon shall incur. who may attempt 10
revive or do business under charter
thus forfeited.
No 9 comes from Mr.. Latham, and is
entitled:
"a BILL
To regulate the proceedings and prac
,ice under the act entitled IAN act pro
vdine for the appointment ot board
of Bank Commissioners, and for the
regulation of the Banks within the
State Of Ohio and the OcIs amendaIo
ry thereto"
This is bill Of eight sections q seems
to be designed 10 expedite the jud'cla
proceedings Instituted against failing
bank, on the part of the Bank CommIs
siOners. How far its provisions are
calculated 10 remedy any defects in the
existing law, we are not qualified tC
Judge. -,
No. 10 is the conception Of the phlIos
optical Mr.. Taylor, and is brought lorIt
under the following title:
"a BILL
Further 10 amend the act entitled al
act providing for the appointment o
a Board Commissioners, and for th'
regulation of the Banks within 'h'
State of Ohio '"
Sec. provides that the bonds OF lh'
Bank Commissioners sLaI be hIcd VIII
The Secretary Of State; they are now Il
led with the Treasurer an imporlan
change!
Sec. Q makes it the duty Of the Com
missioners to visit each bank in the Stat
al 'east once in six months, and to do s.
pith0m giDing any previous notice.
Sec directs the Commissioners Il
10 proceed against any lnsovent bank
on its refusing 10 pay gold and slIVe
for its notes &c.
Sec. 5 makes void any ass jgnment o
the assets OF bank, in rase OF suspen
sion. or in contemplation OF insolvency
There are some other sections IN thi
bill, making provisions OF a minor char
acter. which it Is unnecessary TO do
sribe.
No II is House bill introduced b,
Mr.. Hatch; to amend sundry existin
laws, Zoo long TO be repeated here) an
TO provide for the Appointment oI Irus
tees to settle up the affairs Of comPa
MES, associa ions, or individuals engage
in carrying on unauthorized bankln
in this State.
This bill vests certain powers /
Trustees, Tor the purpose Of colleclin
and converting the property or debts, {
persons engaged in unauthorized bankin
aud making distribution octhe sane.
No 12 is bill of "a sections, brough
in by Mr.. Latham of The Senate, a
though understood to be the producto
Of an individual not member OF tn
Legislature, and is entitled briefly,
"A BILL
To regulate Banking in Ohio"
The first section provides that com
panes or associations, desiring TO en-