Republican vindicator. [volume] (Staunton, Va.) 1849-1857, 1854-03-13
49, - - - - -. -
Email Note Bill.


Email Note Bill.
The Senate yesterday passed the bill from
the House for the suppression of the shin
plaster currency. Whilst imperfect in
some immeterial points, it is to be hoped
that it Will, as a whole, be found adequate
to the purposes of its enactments. One Of
the provisions particularly subject
ing any person whose name appears on the
face of any note less denomination than
five dollars to penalty Of FIVE times the
amount of the note-seems well calculated
to serve as cure TO the small note eyil.--
Under 1t, any one may proceed against the
person appearing to be the :ssuer Of the
note and recover five times the amount
thus striking at the very fountain of sup
ply in manner simple in itself, whilst re-
sulting beneficially TO the holder. There
is good ground to hope that the flood of
irresponsible paper, with which the chan
nels of circulation are checked up, may
now be turned back, and the country grad
ually relieved Of the dirty nuisnce. The act
goes into operation the first of June ,th is gil
wing three months for those who have been
chiefly instrumental in throwing into cir
culution unlawful paper issues, to withdraw
them and settle with their creditors, which
we hope they will promptly do in good
Virginia currency or specie. Those who
have snail notes in their possession, should
proceed at once TO demand their r.ocm,.
ton, and if any obstac,;rs are thrown In
the way the; oush. to 81, q war
ra'.t .or the penalty,
! Much clamor will doubtless be made a.
gains; the act but if the people ever want
good, sound, specie-based currency, with
a sufficiency of specie in circulation for
change, they ought, with uaited voice, to
insis! upon, and aid in the execution OF
the law. The present abundance u both
gold and silver coin has left not the slight
est pretext ofnecessity for shinplassers, but
by an irrevocable law OF currency, they
will still hold their ground to the extu-
SION of specie, unless the people resolve TO
set their faces against them, and against
the manufactures of them. They have i,
entirely within their power, under tins
act, TO put an end to the evil, and though
the Courts and Grand Ju-ies have failed
to enforce the former laws, let it not bt
said that a remedy which every citizen Of
} the State can apply, remains dead letter
Oh the statute book.
The following is copy of the bill al
passed BY both Houses Eng.
"Sec. l. Be il enacted by the Genera
, Assembly, that it shall be the duty Of Com.
missloners of the Revenue and Courts te
whom application shall be made for license
TO require, from each and every perso,
. who shall apply for license, an oath tha
he will not pay out, (withn the limits o
the Commonwealth notes Of less demon
ination than five dollars, issued by banks
. col porations or individuals.
Sec. 2. And BE- it further enacted, tha
i'll every case where note OF less denomi
nation than five dollars is offered or issued
{. as notify, whether the said note be issuee
by bank, corporation, or individuals, til,
person, firm, or association OF persons, cor
, poraton or body polite so offering or is
/, suing such note, shall pay a fine of tel
dollars, to be recovered before any Justice
} alderman Of city, or court in this Com
monwealth; and any person whose name
Is signed on the face Of such a note shal
be deemed an issuer within the meaning
} OF this act.
''Sec. 3. And be 1t enacted, that one
hall OF the fine or penalty recovered IL
any case under this act, shall go TO the H.
former, and the residue shall be paid int.
) the treasury Of the county or city in which
! the same may be prosecuted Tor; provided
that in all cases the iniormer shall be com
petent witness, and that such nformel
shall not be required to testify to NOR.
than the denomination OF such note.
Sec. a. And b. il further enacted, tina
any person may recover by motion before
a single Justice or Alderman, or before
any Court, from any person whose name i.
, Oh the face OF the note ola denomination
less than five dollars, which may be issued
after the passage Of this act, five times thu
amount OF such note, and such recovery
shall be, in addition to the fine herein i'm.
posed
"Sec. 5. And be it further enacted, tina
the penalties imposed by this act shall bt
IN addition to the penalties heretofore i'm
posed, aud this act shall b. construed re-
medially.
5 "Sec. 6. And be it further enacted, tha
this act shall apply as well to interest bear
= = ing scrip for sums less than IS as TO notei
Of other descriptions.
|, "Scc. Z. This act shall be III force from
and after the first day OF June next.-Pro
vided, that the first section OF this act shal
D not 60 into opeI alton until the 1st day O
June, 1853"
Board OF Public Works.
During the recent session OF the Legis
lature, there was manifested feeling o
hostility towards The Board Of Publ,
Works for which we are at loss to ae
count. The Board assumed control Of til,
public works and finances OF the State at
= critical juncsure and under difficult circum
,, stances. The treasury was exhausted
and such was the stringency Of the none,
' market that even the best securities coule
7 hardly ma,ntaln a par value. Neyerthe
!, less, it was absolutely essential to the cred
1t OF the State that AN immense loan should
be effected without delay This was ac
complished by the Board without any sac
rifice to the interests of the State, and OF
: terms which, if we regard the circumstan
III