Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1856-01-26

before DIV beeis operations to al win the GOV.
ern7f Sertaficaka u11eS thsfr haI1s, thit th81aw
been faithfully complied With; and by seetion
g, that certifcate be found 70 be- false, the presi
dent Cashier and directors arc subjected to fines
and Imprisonment To effect what say is beyond
all cavil dispute, the only other purpose of the
act as passed. Section prohibits any bank from is
suing note bill check, draft, order, acknowledge
ment of Indebtedness certificate of deposit for
less sum than three dollars unless plainly and
pressly allowed by its charter. Section applies
the same prohibition to Banks of Deposit only, for
bidding and prohibiting them from issuing any
ticates whatever intended either, first, pass
the representative of money, or, secondly, of the
value of any sum less than the of three dollars.
By section B, the same prohibition is intended to be
applied to any other person corporation, and it is
included in the general prohibition to issue such
bills, any other kind of security. whatever be its
form or value, to pass for money, without special
authority SO to do.
Now all these prohibitions describe the very same
offence, and prescribe the very penalty, to wit:
fifty dollars, and if the offender be corporation,
violation of charter; and taking the whole chapter
together there four classes Of bills the issue
ohich are thus prohibited: and these are,
LIST. Bank bills of any sum not payable in specie
I'd. Bank bills other securities, for less sum
than three dollars, unless authorized by charter
Sd. Corporation securities acknowledging deposits
&C., of any sum whatever, issued to pass money,
or, if not to pass as money, of any sum less than
three dollars.
4th. Corporation or individual notes. or securities
of any kind, intended to pass as money, and unau-
thorized by any special act of assembly.
have now mentioned, in their proper order, all
the provisions of the law, with the exception of
those in the 9th section. The object of this clause
will strike the most inattcntve and superficial. 1t
would be folly to prohibit the issue Of these
bills by the Legislature of North Carolina for the
whole object of the law, and the law ITSELF could be
easily evaded by the issue of the very bills &c above
prohibited, the other side of the State line and
their circulation in this State. Hence it is, that the
9Th section, under penalty of five dollars, and the
guilt OF misdemeanor, prohibits any person cor
poration from passing or receicing the substitute
for money, "any such BILL check, certificate, prom
issory note, other security Of tile kind mentioned
IN ahis cAapter, whether the issued with
in without the State" and thus clnches the mat
ter, in a very clear, and must add, judcious and
sensible manner.
In conclusion, have to say that if am right,
neither the bills of the Bank of Fayetteville of the
denomination of three dollars, OR the g ones ~ and
"twos" of the Bank of the State of South Carolina
" of the kind mentioned IN this chupter;" they
cannot be described by any words included in its
phraseology prohibitions.
Penal statutes construed stricty.-1f the Bank
of Fayetteville cannot issue three dollar notes. it is
because her charter does not expressly authorize it.
to which the reply is neither does The charter of
any bank in North-C Carolina authorize them to issue
notes, yet this very act their lawful exist
ence, and we know they do lawfully exist. 1t is
true, that Mr. Courts is prohibited from receiving
her bills of any denomination; but he, any other
public officer or individual, may take the Zones :"
and "twos," any other bill of the Bank of the
State of Carolina because, although the latter
bank tissues bills of denomination less than three
dollars" she is not included in the words of the Sec
ton, nor of the act, because she is not " in the
State" and her bills payable in spicie, and au-
thorized by charter. {. E. G.