Juliet signal. [volume] (Juliet [i.e. Joliet], Ill.) 1844-1???, 1847-08-17
Springfield Cores pondence.

SPRINGFIELD, Monday Aug. 2.
The convention met pursuant to ad.
journment. A petition was offered to
exempt the homestead and other property
from execution. Leave of absence given
to some three or four members. Mr..
Norton of your county was excused for
two weeks from attendance on account of
sickness. A resolution was offered re-
curing call of the convention, and that
the absences be entered on the Journal,
which was carried.
The house appeared to be somewhat
troubled to get a quorum this morning.
The gentlemen who have gone to ST.
Louis have not returned yet. The Reso.
luton offered by Mr.. Farewell requiring
the revenue to be collected in gold and
silver coin and Auditors warrants for
State, and same coin and County Orders
for county revenue. A motion was made
to strike out AUDITORS warrants and coun.
ry orders. The resolution found opposi-
ton from certain quarter. suppose if
State Bank can be created they would
like to see its paper received again in
payment of Taxes. The amendments are
probably made to kill the resolution. A
vote was taken on the resolution, and lost.
| think just as likely as not that this reve.
nue. matter will get so loaded down by
amendments, riders, &C., that it will not
not suit any one finally.
The bank proposition of Mr.. Sherman
is presented, and handed around to the
members. The proposition, of course, has
the words sample security" Those are
favorite words with bank men. The pro-
position offered by Judge Lockwood,a few
days since, again came up. Objections
were made to it for the reason that it was
too much legislation. The Judge supper
ted his section with some statements of
facts which had happened under his own
observation. He knew that many farmers
had lost their farms through accident,
fraud or mistake, and he wished to rene.
dy the evil. The committee of the whole
having gone thro' the report onRevenue
rose and reported back to the convention.
Then came discussion as to printing the
Report as amended. and it was agreed
that two hundred and fifty copies should
be printed. On motion, the convention
adjourned until tomorrow at o'clock, for
the purpose of giving the Judiciary and
Districting committees an opportunity of
holding sessions.
Tuesday, August 8.
The convention this morning went into
committee ofthe whole. Mr.. Wead in the
chair. and took the report on Banks &c.
A motion was made to strike out section
one of the majority Report and insert sec.
one of the minority report. This move
was made bya wing. Some seemed to
doubt the propriety permitting wings to
lead off; there appeared to be some anxiety
to "get shut of the first section Of the
majority Report. This section, should
think from what was said in convention,
was nearly what the democrats wanted.
The vote was taken. and the committee
refused to strike. Mr.. Caldwell moved
to add TO the end Of the section the follow.
ing: "such acts shall be subject to repeal"
which was lost. The first section is as
follows:
Corporations not possessing banking
FOWOiS VI PtINhCSOSB utuy 10 tOIuiSu uu.
der general laws, but shall not be created
by special acts except for municipal pur.
poses and in cases wherein the Judgment
of the Legislature, the objects Of the cor.
poration canno: be attained under general
laws" A motion was made to amend,
so as to make stockholders individually
liable, which was carried SO to SIS. The
second section was read, which IS as fol-
lows:
Question corporations moi possessing
banking powers or privileges shall be
secured by such individual liabilities ofthe
corporators or orther means as may be
procribed by law" Mr.. Thomas made a
motion TO strike out the entire section
which was inserted by Mr.. Scates and
Mr.. Thomas. Mr.. Scates moved to strike
out the words 'sindividual liabilities of
corporators," which has precedent of
striking out the entire section; vote taken
and lost; motion to strike cut also lost,
Sec. 3. No State bank shall hereafter
be created, nor shall the State own or be
liable for any stock in any corporation or
joint stock association for. banking pur.
poses"