The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1853-02-19
From the Chicago Tribune.
The Banking Law.

which has pas.es the House a, reported bv Tale.
praph in yc.terday's Tribune: ,
A BILL for AN act suppementsl 10 and <x.
planatory Of an act entitled AN act to estab.
ish a general system Of banknk' and to pre.
vent the issuing aud circulating of illegal cur.
rency"
See !. Be IL enacted by the Peopl. of the state
ofHlindis, reprssentedi in The Gsnsral Assonbiy,
That the act to which this is supplementary shall
be so constructed that no person or persons shall
become incorporated under the -aid act, until he,
she, or they shall first have deposited with the
auditor United States or state stocks, as required
By said act, 50 that the capital stock Of the said
Incorporation shall amount 10 such United States
stocks or state stoCk, at the rate and valns fixed
by said act, TO the sum Of Of fifty thousand dol
lars; and at no period during the existence Of
said bank shall the said capital stock of the same,
IN stocks dsp"sited as Aforesaid, be lees than the
sum oihity thousand dollars
Sec" 2 No bank banking association, corpo |
| fano'' 'fuAs' oahset' ueaier 10 money, produce
OF io'sg" hffchandise, or other person, shall
emit issue u,'er pay out pas, or receive 10 pay
msh'' " On sePo,t, any OIL OF credit bono,
P'onl''ol, SI'e oh' OF exchange ORDER draft
eerthcate OF uepolte, written instrument, or m
s'rument partly written and partly printed, to 10
useu as Beheta circulating medium, or as IN
li'u oi money o' o'hef currency or intended by
tne MAKERS 'n'teoi 10 oe 80 used oiner ihan the
o''is VI "''es VI "nhh Vi th's sla'e c'un'er-lshed
W '"e "uu''o' ",noe' "ecoru''s 10 'he provisions
oi 'ne 'c' 10 es"oN'h general system oi BANK
,hs' VI '"e "''e' ~ ol''' '"i a denomination not
less 'un', h'o eohat') oi specie paying banks
cteaten oy IN express authority OF law, IN either
OF the nned states or territories, the District
OF C"iuihVla' OF O"hada. Every bank, banking
"so''a'lon' eorlor"uoh' "o"sr' banker dealer ~
MONEY P"uoce OF iHfe'sp merchandise or o'ner
person, VINO shall violate the provisions Of this
se'u"h' shaI' forfeit and pay to any persons who
may sue Tor We same, The snm OF nifty dollars for
each and every bill Of credit, bond, promissory
note, bIll OF exchange order draft, certificate Of
depo'n' or o'h'r instrument, 30 issued, uttered,
PAD ou'' passed or received, contfay TO the pro-
Visions o' this section, to be recovered IN an action
o' dcbt, before any justice, magistrate, or court
having Jnrlsdi.t'on to the amour! claimed in any
such SUIT.
Sec In addition to toe penalties provided
for IN the foregoing section, every broker, banker
dealer IN monel, produce or foreign merchandise,
and every officer, agent. or employee Of any
bank, banking ASSOCIATION, corporation, broker,
banker dealer IN money, produce or foreign mer-
chandlse, ho shall offend against the provisions
of this act, shall for every bill, bond, note order
certificate of deposit or other instrument piece
. Il .---...-l - 49,, - -
.", " 'I.r'u' to""a'S '" tue provisions OIL 'i''s
&C. 'e "'os W oe 'nu'c'eu' ana on CONVICTIONS
s"-' ~ w u" p.'''neu W ", 'he county jan ho' more
.nr' que ear "shaIi ho' oe necessary IN ~
indictment, SUIT or prosecution, under the pro
visions oi tll- act, to specify or particuarze any
1 b"'".."' o'.,' NV, oo''', oI"er veftinca'e "i
p"' ~ ,.' , ',is'. u,t''"' pu' II s'nh Ue SUI
. NV" a'tse eene'"'s "as 'ne ueiehuaht OF
.'.i.'n Wv u'tn eu'''!ol ''oIa."s ne pro-
~, 'i ' y! "'''''"s, 'u"'"s' P"-"s
w 'L III n",. "S 'ne eAse u'Ay w.
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w.. 'I'.ipt P'osee"'''"
,I- t s"NI' oo Iep'sse"'ed 70
"ah & ,o.,,; '"o """. eo"in',ss,He's, upon !"e
t','i ,,a t,.,. Wv ~ an, .'e'o'' pe'sou .e.''"s
! ,;ar a. wv" ""' '',',''"
reason 10 hsIi.se ,b,, ,m, ISL sr,,.0 4, 'a,
. h,nL. L,rt.r Ja.r.r y o'"@, w. p'.a"o"'
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o,1or .,r,,In,o,s - 80 w ~ "s s", W
brnLe, LanL., l.al., "e' w. Y'' -,
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c..d tn fl. ..;d I,rr or e., ~. ~ w ~ -,
, .r.l, h,,i. ,nara,;a y, 10 Y, o','SsS - -
r,oney urodrrs or f,',;''', "S"n' 80 ~