Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1856-01-23
THE cuRRENny.


the lawful currency Of tins State, and all records
fee bills OF officers, official accounts accounts for
moneys collected by officers, accounts required to
DC returned to court, and all other proceedings and
papers OF public nature shall be kept in dollars
aud cents.
2. If any bank shall issue any BILL note, check
or 1rait redeemable or payable in any other man
ner than by payment in specie, the same shall be
deemed to be due and demandablc in specie at the
place where it was issued; and on demand and re-
fusal to pay the same the money therein expressed
shall draw interest till paid ut the rate of twelve
per cent. per annum.
8. No bank, unless plainly and expressly allowed
by its charter, shall make issue any note bill,
check. draft, order, acknowledgment OF indebted
ness, or certificate of deposit, Tor less sum than
three dollars OH pain of being deemed to have vo-
lated its charter; and moreover, of FORGETTING and
paying for each offence the sum Of fifty dollars.
4. No corporation whatever, which is allowed to
receive money deposit snail make issue, de-
liver any certificate, acknowledg ent OF deposit
for a less sum than three dollars; nor shall make,
lssus, or deliver any such certificate acknowledge
ment of Indebtedness for any whatever, with
the intent that the shall be circulated
ey on pain of being deemed in either to have
violated its charter; and, moreover, OF FORGETTING
and paying for each offence the sum OF fifty dollars
5. No person or corporation, unless the SAME be
expressly allowed by law, shall issue any bill, due
bill, order, ticket, certificate of deposit promssory
whatever may he its form or name, with the intent
that the same shall circulate pass the repre-.
sentative OF, or substitute for, money, on pain
of fortrng and paying for each offence the sum of
fifty dollars; and il the party offending be corpo-
ration, of also being deemed to have violated its
charter. Aud every person offending against this
section, aiding or assisting therein, shall likewise
be dccmed guilty Of misdemea.or.
&. No person OF corporation shall pass or receive,
the representative of, the substitute for,
money, any such bill, check, certificate promSsorv
note or other security of the kind mentioned i'll this
chapter, whether the same were issued within or
without the State. And any person or corporation,
and the officers and agents of such corporation aid
ing therein who shall offend against this section,
shall for every such offence forfeit ana pay five dol
lars and SHALL moreover, be deemed guilty OF mis-
dcinealOr
T. The public treasurer is hereby directed not to
receive in payment Of public taxes the notes OF any
bank in the State that issues bills of dcnomiua
ton less than three dollars
The old Revised Code, chapter II, entitled Bank
Notes, contained the following:
a. That it shall not be lawful for any person
pass, circulate or receive in payment, within this
State any bak.noe, bill or pronlsSory note for the
payment of money, issued by any state sover-
eighty, or by any body polite corporate, not au-
thorzed to issue the iii and by any OF the laws
and statutes of this State, under the denomination
of five dollars.
2. Any person offending against any of the pro-
visions Of the preceding section shall forfeit the
nominal amount of such bank note, bill Or proins-
sorry note with costs OF suit to be recovered III the
name and for the use of any person who shall sue
for the same, and prosecute such suit to Judgment
in any jurisdiction having cognlzancc thereof.
The provisions on currency, chapter So, re-
ported by the G mmiSsoncrS, Messrs. Bsgs and
Moore, and printed for the of members of the
Legislature, arc as follows:
81. The currency of the United States shall be
the lawful currency of this State and all records,
fec bills Of officers, official accounts, accounts for
moneys collected by officers accounts required to
be returned to court, and all other proceedings and
papers of public nature shall be kept in dollars
and cents.
.. All persons are hereby forbidden to pass, cir
culatc, receive in payment, within the State any
bank note, bank check, bill, promSSory note for
the payment of money, under the denomination of
five dollars. ISSUED by any state sovereign V, or
by any body polite or corporation created without
within this State, unless the issuing thereof shall
have been expressly authorized by this State, under
the penaty of forfci,ing for each offence to any
who will sue for the same the sum of two dollars.
3. lfany bank, corporation company, which
may be allowed to issue promi>sory notes, common
" called bank notes, orders, draft, or cheeks shall
issue such note, order, draft check, specially
payable otherwise than in specie such bank, corpo-
ration company shall for every such offence. for
felt and pay to anv person, who Will sue Tor the
same, one hundred dollars, and every person who
shat! and and assist in the issuing thereof shall be
deemed guilty OF a misdcinanor.,
1t will thus be seen, that under the old Revised
Code it was not lawful to pass any Bank note of a
denomination less than five dollars, unless issued by
authority OF this State and that persons offending
were liable 10 forfeit the amount of the note and
costs. This intended to apply to the Bank
notes of other States but it is well known that the
law was generally and habitualy disregarded.
We have examined the original of chapter SO, of
the new Revised Code, in the Secretary of States
Office, passed and signed by the Speakers. The
reader viii perceive in what particulars and to what
extent this chapter differs from the chapter re-
ported to the Legislature by the Commissioners. 1t
will be observed however, that section 2d of the
chapter as reported by the Commissioners, merely
forbds the circulation of Bank notes of denoni-
nation less than five dollars, under the penalty OF
forleitng for each offence the sum of two dollars
but this section goes further than the old Revised
Code, in that it prohibits, under the penalty above
stated the issuing Of such bills under five dollars
by any body polite or corporation created without
aothin this State, unless the issuing shall have
been expressly authorized by this State. This, we
presume, was intended to apply to the Bank Of
Fayetteville, to the Bank at Elizabeth City, and to
the Greensborough Company. The Sd section Of
the chapter, it will be seen, thus reported to
the Legislature, forbids Banks corporations, &C.,
from issuing notes payable 9th rwise than in specie
and Banks and corporations offending, were render
ed liable to forfeit hundred dollars for every