The Wyandot pioneer. (Upper Sandusky, Ohio) 1853-1868, 1856-04-03
NEW BANK BILL.

duced ID the Senate Of this State. ITO
incorporate the Bank Of Ohio and otherI
Banks. The bill is very lengthy. emv
bracing 4s pages ofordinarybill size. IL
is said to be a carefully drawn and well
|digested plan. embracingall the ebxssfes-
lures of those systems which have stood
the test Of experience. What its fate
may be-, remains be- seen.~,,T The fox
lowing are some of its most important
provisions:
The Bank Of Ohio is to be located at
Columbus, to be managed by a directory.
consisting Of one director chosen by each
branch. and who are t. have the super
vision and control of all the branches. but
not to issue any notes for circu alton.
Branches of the Bank Of Ohio may be
founded by any person or at any place.
| by complying, with, the provisions of the
bill. No branch can be organized with a
less capital than. 100000 in any county
except in Cuyahoga, Franklin. Lucas, and
Monts emery, where no less than $780,
| 600, and in Hamilton not less than $500,
900 are required. The number Of branch
es is not limited in any county. and each
branch may increase her capital to doub-
lie above minimums. No branch can go
into operation until ne-half of its capita
has been, paid in. and one half Of that
must be ip gold and silver, and the other
half may be in exchange. on New York,
Philadelphia and Baltimore,Q ,HJ a..
Each branch is entitled TO circulation
as follows, viz: g.....4 "a ,,p,a,..a ,..a.
On the first tsloo,ooo paid in 10000
On the second 100000 '' $4,000
1 On the third 100000 $4,000
On the fourth 100000 4"'"' l25.O0O
And allow 100000 capital. circula-
ton only equal to such capital. "' ''.'' 81
Independen, Banks may be formed any
where under the law None can be
formed in any county without 100000
capital. Inthe four counties above named,
$3.50, ,OO., and in Hamilton county $3.50
4 900. ohe-hdlf Of which must be paid in
l each case before it is entitled to circula-
lion. Each bank Of this kind can increase
its capital to any amount not exceeding
double the amount above mentioned. 7h'
When independent banks are formed,
they are entitled to receive from the Au-
! d,tor,, Secretary and Treasurer of State,
. notes for circulation, their amount Of cap
ital paid in. upon dtposi'ing with th'l
: Treasurer g. State certificates of tie pub
lie debt OF ti,c Uni-ed States. of this
State, of Indiana, Illinois. Michigan OF
Kentucky 10 an amount equal to such
circulation, to secure the same. one halt
Of which amount must be in the stocks OF
the U. S. or of this State.
The branch banks are required to take
| for debts the paper of each other. The
t independent banks the paper of each other
. for debts, while they pay specie. m
The charter is to continue for 20 years
The Bank of Ohio is authorized to es.
tablish an office in New York to secure
a the deposits of the branches, and transact
S other business at that place, and also te
D establish similar Offices at Cincinnati anc
t Cleveland. and a clearing house at Co
r lumbus when found necessary.
The capital employed in banking is t,
S be taxed no mere than the capital Of 'ndi
yiduals. The law is to he submitted tt
the people for their approval on the q
Tuesday Of October. 1856. If approved
: by a majority, to become law: otherwise
"o'' 9rtG ~r.t 4.e. Co. nii<.tEr 7f .s.: