Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1845-06-20
GENERAL BANKING LAW OF NEW

GENERAL BANkIN. LAW OF NEW
NoRh.-fhe >, rEENE CouKr ui IN. STATE
closed Its Nav Penn in this city. on Fida,.
au GA" 81 is decisions has created 10 littl.
excitement ia Wall street.
~" hener,l Banking Inv was pasSosi n,
tn Legislature in April. 1858 Son after ia,
I@S>ag'. doubts werc expressed a. Ia It's con
stitutionality. TIL" Act To- auihuriz, tn, bn.
s,hcSs oi banking was passed by a majoriiyoi
lhe members elected 10 each branch of the
Legislature. Ii d;j not receive the assent OF
tco ihirds oi the members 40 elected Sec.
ton y, oi article z. OF the CONSTITUTIONS of
TINS Slate, II Ia the words following go
Sec. .. The assent OF ttro-ihirdS Of the
members elected to each branch OF the Legs.
laiufe shall be requisite to every bill appropri-
atnS the public monies or property tor local
or private purposes. or creating continuing
altering: on renewing eHy BODY polite or cor
pordtc
In October, 1899, 4 majority Of the Supreme
Court. In the case of TpoMAs w. Dakii. held
the AC, TO authoriss tho business of banking
valid and constitutional, provided or upon
the assumption, that IL received the assent of
tpo -'hifds OF the members of each branch OF
Legislature. Tho question in this cas-. arose
upon a demurrer OF the plaintiff declaration.
and the fact, whether tho Law was passod by
held that II would PRESUME that the Ac, re-
ccived the assent of two thirds Of the members
OF each branch, until the fact was denied BIZ
plea and Judgment was givsn for tho plain
uii, with leave To the defendant 10 Withdraw
the demurrer, and plead on payment of costs
In January. lSl0, two demurrers i'm the case
ot WARNER vs.. BEERS, PRESIDENT, &c, and
BoLANDER vs.. STErHENs, PRIsrDEYT. &c.
were argued before the same Supreme Court
and Judgments given for the plaintiffs in both
cases,-thc Court referring for the reasons OF
the Judgments IN these cases, TO the opinions
III the cases of Thomas vs.. DAKrN. The de-
clsion IN each of these three cases was simply
tins: that the Act of 1898 was valid and con.
stituilonal, y 1t was passed by a t,oo-third,
vote.
Chief Justice Nelson, (now ono Of the Judg.
es OF the Supreme Court of the United States,
MIR. Justice Cowen, (now deceased and Mr..
Justice Bronson constituted the Supreme Court
OF the State at the time the decisions above re-
ierred TO were made and Mr.. Justice Bron-
son dIsScntcd from the opinions of is breth-
rcn, he holding that the Act of 1875 was UNI
constitutional even il il had received the asscn,
OF two thirds of the members of each branch of
the Legisiature,-that is, that the Legislature
had no constitutional power, by general law
10 provide tor the creation of am indefinite
number oi Corporations, at the pleasure of any
persons who might associate for that purpose
I'm TINS state of things, and in February,
1910, the cases of Warner VS. Beers. and Boil
andcr vs.. Stevens were BROUGHT bv writs q,
error before the Court FOR THE CoRRrcTIoY
OF ERRORS, and were argued By Mcssrs Og-
den, hcnt, Foot and Moves, in favor OF IN,
conslitutionality of the law of 1898. and by
McSsrS. Spencer and Sanford against the law
Ana the Court of Errors. in April, 1910, af-
trmed the judgment of the Supreme Court in
the last two cases, by vote of II ~ | ; and
the Court at the same time adopted the follow
ing resolutions
|. Resolved That the law entitled an Act
To authorize the business of banking" passed
18th April, 1888. is valid, and was constitu-
hondHy enacted, although it may not have re-
ceived the assent OF two thirds of the members
elected to each branch of the Legislature"
ms Resolution was adopted by vote of
% TO l."
2. ar solved, That the association organ
ised III conformity with the provisions of the
act entitled AN act 10 authorize the business
OF banking, passed April 18th, 1888, are not
bodies polite or corporate, within the spirit
and meaning of the corporation"
Tins resolution was adopted by vote of
% 10 j."
After this very plain decision of the highest
court oil the State, the question as to the Con-
of the General Banking Law was
considered as settled forever; and Banking
Associations have been formed under she law
III every part OF the State, and millions upon
of dollars vested therein
Many oi the old Safety Fund Banks whose
charters have expired, have already rc-organ-
lied under the General Banking Law and other
incorporated Banks are preparing to pass from
under the old incorporated Bank system, into
the new or free banking system.
Under these circumstances. the Supreme
Court now decide the act of 1888, ''to author
lzc the business of banking" unconstitutional
and thus put in jeopardy or suspense the vast
interest involved in these Banking Associa-
tons. MIR. Justice Bronson, (now Chief Jus
ticc.) Mr.. Justice Bcardsey. and Mr.. Justice
ycwctt now constitute the Supreme Court
But Is nothing To he settled in this country?-
Are our laws To be changed as often as new
Judges are appointed? Are decisions of our
highest courts no longer TO be regarded as evil
dencc of what the law of the andisl Are the
decisions of the Court of Errors TO b. disregar
ded by inferior tribunals? We think not
we cannot doubt that this decision of the SUI
premc Court will be reversed by the Court of
Errors as soon as it is brought before it.-N.
u Jour Com