Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1857-12-24
The Rank Act.

In consequence of the great anxiety as TO the
action of the Geneeal Assembly in relation to the
banks, we have taken especial pains to present at
the earliest moment the bill as it has passed the
two Houses:
An Act for the Suspension Of Certain Sections o,
Certain Acts, and for other purposes.
l. Be it enacted Jy the Senate and House Of
Representatives. nor met and SHthJ an General rs
,embly, That the operation of the second section
of an Act. entitled "An Act to provide against
the suspension of specie payments by the banks
of 1bis State" ratified on the 18th day of Deceh-
ber. 1910. be and the same is hereby suspended
until the lst day of January 1859, on the express
condition that no execution issued upon judgments
already obtained or hereafter to be obtained by
any of the non-specie paying banks, shall be en-
forced until such bank shall resume specie pay
ments: Prorided, nevertheless, That each debtor
against whom the banks may have obtained
Judgment and issued execution thereon shall pay
to the banks to whom they may be so indebted
interest upon the whole amount OF the judgment,
recover ed at the expiration OF every sixty days,
from the passage of this Act at the rate OF seven
per cent per annum and any debtor neglectlng
or refusing so to do shall be deprived OF the
benefits of this Act: Prorided, That if the prop
erty of the debtor be sold under an execution or
executions of other creditors, the execution of
payment as now provided by law.
9 That the operation of the 9th section OF an
Act. entitled " An Act to regulate the Planters
an Mechanics Bank of South Carolina, the Union
Bank of South Carolina, the Commercial Bank OF
Columbia, South Carolina, and to incorporate the
Exchange Bank of Columbia, the Farmers and
Exchange Bank, and the Peoples Bank OF
Charleston, the Bank of Newberry, the Bank of
Chester. the Bank of Sumterville the Planters
Bank of Fairfield, and the Western Bank of South
Carolina, at Anderson" ratified on the 10th day
of December, 1852 and all clauses and sections
of Acts re.enac ng the provisions OF the SAID
section, and applying the provisions thereof to all
or any of the banks of this State Incorporated
since the aforesaid Act, be and the same are here
bv SUSPENDED until the 1st day of January,
1859.
3. That from and after the 1st day of January,
A. D. 1860, if the bank notes issued by any bank,
and in circulation or out of possession of the
bank, shall ut any time exceed, for more than
thirty successive days, three times the amount Of
the gold and silver coin and bullion in possession
of The bank as its own property, and at its bank
ing house. such bank shall forfeit hve hundred
dollars for each and successive day, during which
such excess shall continue to be recovered by ac-
ton of debt at the suit of the State; and IN order
that such excess, when it exists may be apparent,
it shall be the duty of the President and Cashier
of every bank of issue, on Monday of every week,
to transmit to the Comptroller General an account
of the amount of bank notes of such bank in
circulation, or out Of possession of the bank, on
each and every day during the week ending on
the next preceding Saturday, and also an account
of the amount of gold and silver coin and bullion
in the possession of the bank, as its property
and ut its banking house, on each and every day
of the same week; which account shall be certified
by the oath of the President and Cashier taken
before and certified by any Magistrate duly
authorized to administer oaths; and any person
swearing falsely to any such account shall be
deemed guilty of perjury, and shall be subject to
the pains and penalties thereof; and the Comp
troler General shall, at least once in every month,
collect the accounts of the daily state of their
circulation and specie rendered by the several
banks of issue, in conformity herewith, and pub
lish tn, same, so collected, in some newspaper
in the following form:
DaHv state Of circulation and specie OF Banks Q,
issue in South Carolina. from The ddy o.
,toMe day Of eighteen h""'