Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1843-02-11
MR.. JACKSONVILLE CURRENCY

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On the 3Oth ult., in the House of Repre-.
sentatives, Mr.. Jackson from the Select
Committee on Currency and illegal banking
to which was referred "a bill to prevent
the circulation of small notes and depre-
ciated paper currency, within the limits of
this States" and "a bill to compel corpora
tons. corporate bodies and bodies polite
to observe their charters and the laws
which created them, and to obey the laws
and constitution of the State" reported a
bill as substitute--of which the following
is synopsis:
Section first provides that after the first day OF
JULY lS43, no person OF persons in this State,
Of any kind whatever, either individual or corpo.
rate, shall receive or pay out any bank note, or
any paper currency OF any kind whatever, of a
less denomination than five dollars, nor of less
denomination than ten dollars after the first OF
June, 1874.
Section second provides that after the first day
Of July. 1843, no person or corporation Of any
description whatever, shall receive or pay out
within the limits of this State, any note OF any
suspended or specie paying bank, or depre-
cia,ed paper currency Of any kind whatever
Section third provides that all contracts and
transactions whatever, by any corporation Of any
kind, or any money broker, exchange dealer, or
any other person in this State, founded upon
loans or payments made in such prohibited cur
rency, after the time limited for such circulation
in this act, shall be null and void and OF no
! force and effect in sny court in this State.
Section four provides that from and after the Ia.
king effect of this act no corporation, or cofpo.
rate body Of any kind whatever, in this,Stae, ex.
cept the Bank OF Missouri and its branches, shall
exercise any banking privileges of any kind
or description whatever, any clause in any char.
ter to the contrary notwithstanding, and any
clause in the charter OF any corporation, except
the Bank OF Missouri and its branches, confer.
ring upon any such corporation, any banking
privileges, either directly or by implication, is de
clared 10 be contrary to the constitution of the
) State and null and Woodland all acts done, OF
contracts made by virtue Of such supposed prlvi
eges after the passage Of this act to be null ant
void and OF no effect, and that no court in the
} State shall admit or enforce the same.
Section five provides that all officers and mem
beIs Of any corporation whatever, within the lin
its OF this State offending against any OF the pro
visions OF this act, shall forfeit their places there
in, and shall not be re,appointed to the same 0
any other place in the same corporation, an
shall be subject to a fine OF five hundred dollars
) and imprisonment not more than twelve or les
; than six months, upon indictment and conviction
for every such offence.
Section six provides that every person elected
or appointed to any place in any corporation O
corporate body within this State, after the passag
, Of this act, shall make and subscribe declar;
ton in writing, and swear to it, that he has NJ
knowingly or wiliully evaded or violated, an
that he will not evade or violate, wilfully an
knowingly any Of the provisions OF this act,
OF the statutes creating corporations, in which h
has acted or is about to act, and if he refuse t
make such declaration on oath, the said appoin
ment or election shall be declared null and voic
and false swearing in the premises is declare
. perjury, and to be punished as such.
Section seven provides that the charters OF al
such corporations, corporate bodies, &C., in th
State as violate or evade any Of the provisions
/ this act, shall be forfeited, and the fact Of an
, such forfeiture or evasion or violation be dead
, bar to any suit brought by them.
Section eight provides that from and after tn
passage of this act. no license shall be granite
, to any exchange dealer or money broker, whit
, shall not first make declaration in writing upo
oath, that he has net knowingly and wilfully vic
lated, or eyaded, and that he will not knowingl
and wifully violate or evade any OF the provi,
ions Of this act, and any officer issuing a licens
f contrary to the provisions Of this act shall b