Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1851-01-23


of free banking; laid on tie table.
Mr.. Holman, after giving evidence Of the high char
acter Of the petitioners, presented petition from up
wards of hundred ladies OF Dearborn county pray
ing for provision in the Constitution giving married
women the right of holding real and personal property
separate from their husbands, the time discaim-
ing any intention OF asking improper political rights.
They appeal the Convention, in strong terms, hus
bands, fathers and brothers for justice in the premises
which referred to the committee rights and priv
ileges.
The section, as amended on yesterday BY Mr. Cofax,
providing for mixed system of banking, read a
third time; when
Mr.. Howe moved to reeommit with instructions to
addbu such charter shall not extend beyond the peri
cd of eight years from the expiration of the charter OF the
present State Bank, and its capital stock profits shall
all eases be subject to the rate Of taxation with
other banks"
Mr. Taylor moved to amend the Instructions by strik.
ing and inserting provision that 'the General As
sebly SHALL at the first session under the new Consti
tuition, pass law for system Of free banking, good
and sufficient securities and shall continue the present
State Bank until the year 1862 and after that time there
shall be other banks than those existing under general
lewsthe State not to De stakeholder under said gen.
eral systems stockholders be individually liable
amount Of stock and law be passed authorizing
| suspension of specie payments
Mr. Edmonston moved the previous question, which
being sustained was first put on Mr. Taylors amend
the Instructions which was not adopted, ayes
| IL, noes III.
Mr. Howes amendment adopted.
The question was then taken the passage OF the
section, amended by Mr.. Colfax and decided in the
affirmative, ayes So noes 90
The section excluding foreigners from being stock
holders, and providing for bonus for school
purposes read third time when
Mr. Stevenson moved that the section be laid upon the
table; which motion prevailed, ayes 80, noes 50.
| The section, providing that the security shall be in
State stocks, &C., was read second time; when
Mr.. Owen moved to strike out and insert provision
that should general banking law be adopted the notes
put circulation shall be registered and ample
ty to redeem the same in specie dollar for dollar but
for the first twelve years United States Indiana stocks
shall alone be taken security; which was laid upon
the table. The section then laid the table,
| "a. noes SO.
Mr.Read on Monroe offered section, providing that
the trust funds, if loaned to bank shall have priority
| of payment over stock, or other debts whatever.
| Mr.. Pepper of Ohio moved amendment that the
charter of the present State Bank shall be renewed
or extended; which was adopted, ayes &C., noes g.
The question was then taken on Mr.. Reads section
amended by Mr.. Pepper of Ohio and decided in the
negative, ayes 81, noes GO.
Mr.. Smiley moved to amend, so that mortgages or
real estate shall not be taken basis for bank issues
Mr. Dunn Of Jefferson offered section providing that
charter shall be granted to continue in force
J than twenty years.
Mr. Holman moved TO amend so that all companies
chartered for banking shall be compelled close the
business in twenty years; which was accepted.
Mr.. Morrison of Marion moved to amend, so that nc
privileges, franchise immunity shall be granted fol
banking, that may not be repealed laid the table
ayes IS, noes 81.
Mr.. Dumas section, as modified by Mr.. Holman, was
ordered to be engrossed.
The Convention then adjourned.
| In the afternoon, Mr.. Bascom offered additional
section that all bank property, real and personal shall
be taxed, the other property laid the table.
MIR. Borden offered section that note shall be is
sued less than So; and after 1860 less than S10 and al
1870 the Legislature may prohibit bank notes less
than $40 laid on the table, ayes 7S, noes 49, y
Mr.. Edmonston offered section, providing, that il
all cases where banks are established one half of one
shall ha of
laid on the table, ayes 6S, noes 81.
Mr.. Shoup moved to amend, that Banks established
without Branches shall not be able to prevent the estab
/ lll;hment of other Branches laid on the table
I Mr.. Moore moved that Banks shall not issue more
than dollars for in specie; laid the table.
Nh. Holman moved that before any special general
law for Banking shall take effect, it shall be submitted
to the people; laid on the table, ayes 76, noes 3D.
Mr.. Petit offered a section, that all the members Of
the political State of Indiana shall have the priv
leges, rights and inmunltles
Mr.. Dunn of Jefferson moved to lay the table: not
carried, ayes 3d. noes IS.
Mr.. Braeken moved to amend by adding--'ibeeause
one man is as good as another and leetle better"
The section and amendment then referred the
committee on rights and privileges.
The section providing that billholders shall have
preference Of payment, ordered to be engrossed
The section providing that stockholders shall be ind
vidually liable, &C., was read second time; when
Mr.. Petit moved amend so that stockholders shall
be individually responsible for all debts and liabilities Of
every kind
Mr. Hamilton moved that the section and amendment
be laid upon the table not carried, ayes So noes u.s.
Mr.. Stevenson moved that Mr. Pettit's amendment be
laid upon the table; carried, ayes 70, noes So.
Mr.. Niles moved to amend, SO that stockholders shall
be Individually responsible over and above their stock
to equal to the respective shares of stock
which was adopted.
The section was then ordered to be engrossed
The section, that authority shall be given the
Legislature 10 permit suspension of specie payments
was read a second time and ordered 10 be engrossed
This being the last section in the article the Conven
| ton adjourned.
THURSDAY, JANUARY l6, 1851 The Convention wa.
opened with prayer, BY the Rev. Mr.. Cressy.
The special order taken up, being a section, or
It's nnal passage, in relation to bail in criminal cases
the pending question being motion to recomm with
instructions to abolish capital punishment, with
amendment to said instructions, excepting the crime
wlltnl and deliberate murder The amendment TO the
instructions adopted and the Convention reus
ed to recommr
The section which provides that Excessive bail shall
not be required Excessive fines shall be imposed
Cruel and unusual punishment shall not be inflicted Al
penalties shall be proporoned to the nature Of the Of
tence"-was passed by vote of ayes 1873, noes 8.
QUESTION.
The section providing that the blholders shall have
the preference in case OF insolvency, read third
The section providing that stockholders shall be ind
vidualy responsible to the amount of their stock over
and above the amount Of their stock read third
Mr.. Borden moved 10 recommit with instructions tc
strike and insert that call stockholders shall be
divdualy liable for all issued put circulation
which was not adopted, ayes 81, noes G9.
The section then passed ayes 95, noes 10.
The compromise section providing free banks and
State Bank and branches, was read third time
when
add-aIl securities required under general banking
law, shall be readily convertible
Mr.. Petit moved to amend the instructions by adding
charters shall be responsible by the Legislature