The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1857-10-28
THE RELIEF BILL.

THE RELIEF BILL.
An Ad providing for Me Resumption Of Specie
Payasnts by TIE Bantt., and for tie RefiSf
.a of Debtors.
SECTION !. Be il enacted by the Senate and
House OF Representatives. Of the Common
wealiho of Pennsylvania, in General Assembly
met, and is hereby enacted by the authority
of ihs same, That the provisions Of every Act
of Assembly, or Of incorporation or re-incur-
poration, hcreoforespassed, declaring OF au-
thorizing the forfeiture of the charter OF any
Bank, Saving, Trust and Insurance Company
or Corporation having banking privileges, or
innictiag auy penalties, or authorizing any
compulsory assignment, for OF by reason OF
the ron-paymout of any of ito Liabilities, or
the issuing or paying out The notes of other
Banks incorporated under The laws OF this
-Commonwe eallh, though no! specie'payingi
OF its loaning or diseoun,ing without the req,
ulsiIe amount OF specie or specie funds, since
the irsi day Of September, Anro Domini one
thousand eight hundred and liIty-seven, be
and the same are hereby suspended until The
second Monday Of April, Ammo Dominl one
thousand eight hundred and fiity-eight, and
all fo,feitures and penalties, or liability there
10, heretofure incurred, or that may be hsre-
after incurred, or that may be hereafter in
cured, before the said ID Monday Of April,
nnder such acts OF Assembly or of incorpo-
ration or re-lncorporation, for or by reason OF
the cauees aforesaid, or aHy of them, are
nnA oh fhpFapf fnc mn
hbi,s any Bank from making loans and dis
counts, issuing its own notes, or the notes OF
other Banks incorporated under the laws of
this Commonwealth, though not specie.pay'
ing, or declaring dividends during the sus-
pension of specie payments, or from loanin9
or discounting, without the requisite amount
uf sucric or epeeio funds ainreRaid, he
md the same is hereby suspended until the
day and year aforesaid, and any such Bank,
during such suspension Of specie payments,
may declare dividends TO an amount NOT ex-
ceediug six per cent. per annum- on capital !;
and this act shall extend also 10 all Banks,
Saving, Trust aud Insurance Companies and
Corporations with banking privileges, char
tered or re chartered under any law, for peri
DDS hereafter TO commence, and 10 the pay
rnent Of stock 10 all Banks Incorporated by the
Legislature al It's last session.
SEC. 2. That, in addition to all statements
and returns now required by law, each and
every Bank IN the cities OF Philadelphia,
Piusburg and Allegheny shall, on the first
discount day in January next, and weekly
thereafter, ,and every other Bank in this Com
monweaith, on the same day, and monthly
thereafter, make up statement 10 be veri-
fed by the oath or affirmation OF the Presi-
dent OF Cashier thereof, showing-first, the
amount OF its loans and discounts; second,
the amount of specie in possession Of and
owned by such Bank, and the balance due
from other Banks, in distinct items; third,
the smount of its notes outstanding; fourth,
the amount Of it's deposits, including iudivid.
ual deposits and the balances due 10 other
Banks; which statement shall be published
in the next succeeding issue of a newspaper
of the county IN which the Bank is located,
or if there be no newspaper in such county,
then newspaper in some neighboring coun-
Is aud any violation Of This law, or failure
TO comply with lis provisions by any Presi-
dent or any Cashier OF any Bank, shall be a
msdemeanor, and each Of The said officers
shall, upon conviction thereof, be punished
by fine of not less Than five hundred doiiars,
nor moro than one thousand dollars, at the
discretion of The Courl-one- half 10 be given
TO the prosecutor, and one-hali to the county
in which such Bank is located.
Sec, 8. The said Banks are hereby requir-
ed, until the second Monday of April afore.
said, 10 receive al par in payment OF all dehis
due, or 10 become due 10 them, respectively,
the noles Of all the solvent Banks of the Com
menweal,h which paid specie for all their Ii
abilities on and Immediately prior 10 the first
day of September last, and which shall con-
tinue solvent; and the said Banks are also
hereby authorized TO pay out, in all their 5u-
einess UapsaclIons and discounts, the said
notes so long as the Banks issuing the same
shall remain solvent; but in case any Presi'
dent, and majority of the Board of Direct
ora Of any OF The said Banks shall certify to
the Governor, under oath or affirmation OF
the President, his apprehension and belief
that any Bank in said certificate named is in
an unsafe condition, the Governor shall there
upon appoint. three judicious persons, not in-
tsfesled in said Bank, as Commissioners 10
investigate the condililion Of such Bank and
The said Commissioners shall, after taking an
oath or affirmation TO perform The duties os
s.h;, =, ~ ent witt. fifaIitv with pro-