The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-09-30


MONDAY, SER. 2s.-The President presented a CONS
mucahon in reference to the returns called for by e
Convention in relation to the funds under the chargeU
the court Of chancery.
Mr. Stow presented two sections amendatory Of the
port Of the elective franchise -
81 An elector owning freehold, or having an uuex-
ped term of not less than years in lease
hold now existing) may by instrument by
css debt the property described In such
the value OF such property shall not be less than one
thousand dollars
s. The value Of the property mentioned in the last
section shall be sscertaned by the assessors of the town
ward in which it shall be situated who shall make
certificate shall be acknowledged or proved in the man.
emitting deed to be recorded and shall be recorded
s Of
in ssch manner and for such time shall be prescribed
by law after such record and notice thereof shall have
numbered by for any debt created contracted by
such elector This privilege shall not enable elector
tho sane time; and such exemption shall cease hen
he shall cease to be a resident of this State
Table and printed The Convention then proceeded to
the consideration OF the report the Banking and the
Currency Mr.. Cambreling withdrew the report here.
tofore submitted by his committee, and offered the fol-
ST. The legislature shall have no power to pass any
act granting special charters for banking purposes but
associations may be formed for such purposes under
g. The legislature shall have no power to pass any
law sanctoning, in any manner direct indirect the
suspension of specie mens by any person. sssoca
ton
- The Legislature shall provide by lw for the registry
OF all bills issued put in circulation as money
and shall require for the redemption of the in spe
Gle ample security by pledges of property.
"a Tho stockholders in every corporation and joint
stock association for banking purposes, issuing bank
notes any kind Of paper credits to circulate
as t 20 BE
shares Of stock in such corporation association
for all its debts and liabilities Of kind contracted
after the said first day of January 1850.
Is The legislature shall limit the aggregate amount OF
bank notes 10 be issued by all the banks and joint stock
associations in this State now existing or which may be
hereafter established.
% All incorporated companies and associations exsr
cs,ng banking powers shall be suoecto visitation and
their creditors under regulations to be by the
legislature and in Of the failure Of such incor-
or Of any of s members discharge the debts for which
they may be personally liable members Of such ncor
pOraton or association provision shall BE- mnds LOT the
corporation association and for dssolving the
Mr. AaAuLr moved to lay the report on the table and
that it be printsd-Iost, 81 to 81.
The 6rst section of the report was then read.
Mr.. FLAsDERs moved to strike out the section and in
The power Of issuing paper money, bills Of credit
shall not be granted by this State
Mr.wHrrs moved 10 amend by adding after the word
money" the words, Of denomination less than five
dosrs" Amendment lost II to o. as also the substitute
of Mr.. Flanders, 78to -.
Mr. MosRs offered the following substitute for the
Laws creating corporations shall not be passed, except
for municpa purposes and for the construction Of such
works. and for the performance Of such business, as
necessarily requires sovereign prerogative powers
rights and privileges The legislature may pass general
Laws under which iatons may be formed for bus
ness religious and charitable purposes.
Rejected 10 TO o. The question then taken the
first section and II adopted, 75to 1. The second
ton was then read and debated by Messrs simmons
Cambrcleng Shepard Stetson Stow and Allen and cur
ried So 10 81 and then the Convention took recess.
tH ArrEnrooN SESSION.
The third section taken mp as follows =
S. The legislature shall provide by law for the regis
try of all bills or notes issued put in circulation a.
and shall require ample security for tho redemp
ton or the same in specie. -
The third section adopted, "a to TO- The fourth
section was then taken up and adopted 30 to a. Inc
6fh section was then taken up as follows:-
1.-The Legislature shall limit the aggregate amount
Of notes be issued by all the banks and joint stock
associations in this State existing and hereafter
established t.
Mr.. White moved to insert !" and the denomination
Lost and the section adopted Mr. Jordan moved an adj
ditional section, as follows:--
In case Of the insolvency of any bank or banking
association the bill holders thereof shall be entitled &c
preference In payment all other creditors OF said
bank
This section was adoptcd-ayes So, noes o. The sixth
section providing for tho visitation of banks and the
winding up in of insolvency, struck out45
-. MIR Tidcn moved 10 commit tho fourth section
with Instructions 10 make the liability Of stockholder
unlimited. MIR Cambreleng moved TO lay the motion OF
the table. Csuisd-4s 10 TO- The article having beer
gone through with, laid the table to be prites