The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1851-11-01
CIRCULAR.

Of H,rjip nm s,i C,,t,' ~, - ~, % '''' '.'
IKE mn, con,i,j,r,t,r NJ. ,,r,nr;,.,i ~
Further ,ssi,tar,, a.,,,r.t tho an,...raI - ne
General B,nk,u, Act NOW. far r,,,,,l, ~
nur state do r,s, s,rn,..,lv mo-, -, -, 49,.
ter IN, necessity nf ,rt,nlip,, An, Ill =, ~, -,
uiur election and yo,in, S,,,n.t tho sct a.,
ur.,ing unon HI, u,.,bbnTLn,,I m a., H.. -,
Fellow Citizen, We nav, r,rcf,uy o,,nl,,l a..
Act referred Il, AMI tnI ,I,, Mill, A., s.,,,, 49,,
ginning to end tp h, a s,b,rp, If f-,r.i ,,,I 49,,
ul,tiun IL set, ant by y,,,.,};y, T., sor,,r. a..
bill holder a.-tin,t lu,, by t,p,sti,,. s,,.ls y,
uL.btcluess With the Auditor ,C ppLIi. A,
counts. tut makes such slow. costly. ami un,sr
tam provisions that bill holder, of small nn,unt.
would be compelled 20 sulcr gn ennrluou, shay,
: Tor which the bunk act seems tn have cont,upl,
ted, and wide door II fraud lcN open. So hat
the wealth If the incorporation may Ia. pl,r,,l
IN the hands Of iisi. brokers, ready To make III,
shave; and further. the Act ptetcnls in the IAN
section to grant relief To note holders. and sav,
in case such person or association Of persons shall
tail or refuse to pay any bill or note on demand
in the manner specified in the l7.h section OF
this Act, the Auditor, after 10 days notice given
m two newspapers printed ia the Civ of New
York may proceed to sell at public auction in
the City of New York, such portion Of the Pub.
lie Stocks 50 pledged as may be necessary to pay
the said bills or notes, &c, but mark the l3ti
section ,ays nothing about manner Of payment,
but aliults To an entirely different subject Con.
's4uen,t'y, the t'h section would be ofno avail
H.>,' l"cU'"' 10 secure I'r'neT, by iht up
po roycr , GIS ives 'tS'
-;trr. ,yy,,i .'''
/ Tho G,, ror.bo~o rror,,,,s t,r ,,,. .,..,;,
amount nr s,r,is m h, ION. -, hand i,, I'a','
that matter cp,irsl, NJ ill., ,l,,snr, ~ L ~.
~ Wnb,,I ,t,, 80. -. -, -, o",'
\ srcci,l r,fr,r,e ~ I. alr,,,,s.. ~ n,
RtnL.- cv.r tbn I'm b,It,r w.. ,2>, 60, wy
rr hat &C., hoe Loo,, ,,,.,,,,,.,tI -
ami c,mnI.ts Cb,rtcr r., s.s,"r - NJ, ~.
evsn v,ors, tb,,, ,L, oIa vyi.l ~. t,,-
NcLi,,n SLn"iI ~, A., H., o,,,,.C,i 1r "
tin. ns,,Ie o,, h,.,o,,, 49, l,, ~ -
nnn,h.r Of ,,.r.,, - ,.,u .',,,, ''.'!
oether a. rr,yi,I,I s'y IN A., .,S ~ ani ou,
src,iors ns H.. Act ard ,,,,s, ,a H., ",o
en,r,vcI thor avn bo,k - a,J ,,,,, H.,
in Circulation "a name, inJs,,r ,,,r -.
deposited with the Aodi,or ar without a3y 800
rity whatever Far N, tr,,b - ~ -,
we refer won >, the Act itsrlf WIN !, 49,.
Of note, or BIN. struck bv ths Auditor !, jino",.
mates them circ,.lHint note, or XII, r,.r in c;r.
culaion kr and maj. nj ,b.m hahn. - W.
ISSUED by the Auditor. We refer YOU to the itb
18th, 10Th 2Oth al>t AMI 26th sections Tn,
4th section denomna,es them cjrpldtiao notes.
the llth section recognizes the banker, t,,ai-g
their own notes and bills. Il sans By them iu,tei
I he 18th section saws notes and bill. put in cirru.
lat'on, meaning those issued by the Auditor. III,
goth section says no bank shall issue, or Pvt in
circulation tc. the 2lst section saws the Audit.
or shall receive nutilatrd notes issued by him, &c
the 26th section saws circ,Ratng notes &c Nav
it il, clear to Us, after seeing the power, granted
in The 18th aud 9th sections, lespecially the ofb,
where u full sctt Of powers a. all other Ban,
Charters ever had or desired. i, further zoe. ,r
to SAY. anil by exercising such incidental power.
As may he necessary to carry ON such bu.ipr..
that it doe. not adm, Of doubt that apy iuH
yidual or association of persons in the towuof Or
tawa or any other place in this state after film,
the certificate as rfoyiled for in the IN secti.n
Of the Act. may ,t.ke and i,y., their own RAM
paper, independent Of the Auditor ar any SILL.
Or security whatever, and be their own igLrcsa,
10 the amount Of specie kept on hand Ibey NAV
set their Capital Stock at $4,000 or more if
hey choose tor accordip, To the Act Il need
not be paid in, or any part thereof
This. Fellow Cl,izen.. is the General Rankin,
Act which we are to approve or di.aournye a,
he COMM, Election. Let it he horne m MIMI
t we approve of the Act. il becomes lay If nh,
and. ca'eoual at least with tine Cnn.,itu,inr ~
,ur state, for that Constitution has ONLY ,noJe "a
35oKjsiggG FIX TIA s,lqntia. ''.',S-s
e ,I, ", 4'1 aPgeI ''''''e 'Ne P''p"sY
Us '"' ','O,O '"'.'u' 4
Nr"e 'o'd mat II Is 'inexpedlent Tor the DEM
cratic party to meet THIS bank question as q ,
| f"'s"Un % V ,' o' no "ai,k'