The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-01-13

6fomiseOYy note bill or exchange, order, ticket, or
any other instrument of writing, In less amount or
Of less denomination than five dollars, to be used
as q paper currency, or as circulating medium,
either as money or lieu OF money, or Of any other
currency or shall make, sign draw, or endorse any
bank notes, &C., for the payment or delivery Of
money, or OF other valuable things Of less amount
than i've dollars every such person, and every
Der, officer, agent of such association, DC, con-
cerned in utterng, signing or endorsing, Tor the pur
poses aforesaid shall be liable to Indictment and on
conviction thereof shall be imprisoned for not less
than ten days. more than one year, and shall be
fined in sum not less than one hundred nor more
than five hundred dollars. And it is especially de-
clared that in the case of association, &C., COM
hitting any of the offences aforesaid every indivi-
dual thereof shall be presumed prin tace 70 De con-
cerned in and to have assented to such act and the
burden of proving dissent therefom shall not rest on
him or her.
Section two enacts that if any person. association,
&c. shall have maintain, or keep within the district
any banking house, brokers' office or other office &C.,
in or from which shall be made or issued bills OF ere
dit, promissory notes. &C., for the payment or deli
very Of money or other valuable thing, OF less
amount than five dollars, to be used as paper cur
rency, &C., such person, and every member, officer,
or agent Of such association, &C., maintaining, or
having such banking house, &C., shall be liable to in
dictment also, for msdemeanor, and on conviction
thereof shall be imprisoned and fined as is pro-
vided on the first section and every person keeping
open such banking house, &c. shall be deemed guilty
Of distinct and separate offence, and subject to the
penalties aforesaid.
Section three provides that all bills Of credit &C.,
under five dollars however purportng to be payable,
shall be deemed payable in money, and be recover
able by action of debt before justice OF the peace in
the District Of Columbia.
Section four renders persons violating the law, by
issuing notes. &C.. for less than five dollars liable TO
pay ten dollars for each and every bill OF credit pro-
mssory note &C., to be recovered in qui tam action
of debt before justice OF the peace, to be brought in
the name of the norner, in that Of either of the
corporations Of Washington or Georgetown one half
of said to 60 to the nfomer and the other to be
paid into the treasury of such corporations Persons
who have been indicted and convicted for the offence
are not to be subject to such action.
Section five enacts that any person bringing into
the District OF Columbia paper currency of less
&C., without the limits of the District OF Columbia,
and every member officer or agent of such person,
association banking house. shall be liable to in
dictment action for debt, and be subject to the
same penalties applies to parties issuing the same
in the District.
Section SIX all contracts to pay or deliver money,
any valuable thing, purporting to be valuable
thing, either wholly or in part, in paper currency0r
circulating medium under five dollars, prohibited by
the act declared illegal and void; and judgment
shall be rendered in favor Of the defendants, Were
such consideration shall have been proved.
Section seven provides that persons holding corpo
ration licences, and receiving and paying out prohibit
ed paper, shall forfeit their licences.
Section eight makes it the duty Of the Marshall and
Of every constable to give information of every vio
lation Of the law which may come to their know
ledge.
Section nine repeats all former acts that may be re-
pugnant to this act