The weekly Minnesotian. [volume] (Saint Paul, Minn. Territory) 1852-1858, 1857-08-01


time spent in the consideration of the article,
rose and reported the same back, and recon.
mended its adoption. .D~.Iltf
This report of the Committee of the Whole
was accepted, and the article was laid on the
table.
BOUNDARIES.
Mr.. COLBURN moved that the Convcn-
tion resolve itself into Committee OF the
| Whole, on the article reported by the Com
mittee on boundaries.
Mr. WILSON asked the favor OF the Con.
veItion, to postpone the consideration OF this
subject, IT, 1iv4 him time 10 make a minority
report. r4.
The Motion Of Mr.. Colburn was rejected.
BANNING. .aia--
On motion by Mr.. MORGAN, the Conven-
ton now resolved itself into Committee of
the.1vholc, Mr. Holly in the Chair, and took
up the consideration Of the article reported
by the Committee on Banking and Corpora
tons other than municipal.
Section l. authorizing corporations for
banking purposes under general laws, being
read by the Chairman, it was passed without
amendment. e,-.
Section ?, prescribing for general banking
laws, provision for the registry and coun-
tersignng of the bills by an officer of State,
and the bank to secure its circulation by de-
posting with the Stae Treasurer an equal
amount in value "iu United States stock, or
In interest paying stocks Of States in good
credit and standing, to be rated at 10 per
cent below their average value in the City OF
New York, for the 80 days next preceding
their deposit" and to make up deficiency of
depreciation by additional deposit; and a
provision for recording the names of stock.
holders, coming up
Mr.. CLEGHORN proposed to amend by
striking out after the word "enacted,'' in the
first jiae, and inserting, ;'1'he Legislature
shall provide by law for the registry of all
bills or notes put into circulation rs money.
and provide by law for the redemption of the
same in specie"
Mr.. BATES hoped the amendment would
not be adopted. The people If Minnesota
wished for banks--such as deserve conf
Gence. Under the amendment tie people
could not feel sale. lie believed il would he
injurious i'll its results to our banking system.
Mr.. LOWE hoped the amendment would
be adopted. The original section was too
much of an Infringement upon the province
Of the Legislature.
Mr.. SECOMBE opposed the amendment
ut length, and supported the provisions c.
the section in detail. The section was (e-
rived from the new Constitution of the State
of Iowa.
The amendment was rejected.
Mr.. COLBURN proposed to amend bv
striking out all between ''credit, in the third
line, and tie word and" in the 1ltl line.
and inserting" Ample collateral security,
easily convertible into specie, to be deposited
with the State Treasurer for the redemption
Of all snch paper credit; and shall providc
for election Of three Bank Commissioners, q
part Of whose duty it shall be to examine
and decide upon the sufflciency of all secu-
rites Offered for deposit and that they Sal,
rate such security at least so per cent. beicr
er real value; and in case of dapreciasioo
ofany portion ofsuch securities to the amount
of20 per cent on the dollar, they shall require
the bank or banks owning such securities to
deposit additional securities
Mr.. COLBURN supported. his amend
ment.
Mr.. FOSTER was opposed to special leg
islation Oh this subject, as premature at this
! time.
| The amendment was rejected.
Mr.. LOWE moved that the committee
!
recommit the article to the Standing Com.
mittee, with instructions to report the same
liberal regulations in regard to banking alop-
ted in the State of Wisconsin.
Mr. FOSTER, seeonding the motion, read
the Wisconsin Constitutional provision
| After debate on questions of order arising
! hero, the motion was Withdrawn.
! Mr.. STANNARD moved that the Com
mittee now rise and report the article back to
/ the Convention.
! After further discussions Of the order, the
motion was agreed to, and the committee
rose and reported accordingly.
Mr.. COLBURN moved that the article
o recommitted.
: Mr.. SECOMBE opposed the motion be-
cause it was not yet apparent that the article
was not in accordance with the mind Of the
| Convention.
The motion was agreed tn
Mr.. WILSON made an Intellectual motion
to add Mr.. CleghoM to the standing commit
tee on Banking.
| PUNISHMENT OF CRIME
On motion by Mr.. COLBURN, the Con-
vention now resolved into committee of the
whole-Mr Watson in the chair; and took
up the consideration of the article reported
| by the committee on the Punishment of
Crime.
Sec. |, prescribing that no person shall be
held to answer twice for crime, unless by
prcsentment, or before q justice of the peace,
or in the army or navy and that the Legis
lature shall prescribe for selecting juries and
unanimity in their verdict, coming up
Mr.. MORGAN moved to strike it out
After debate by Mr.. BolIeo, Mr.. Foster,
Mr.. President Balcombe, MIR. Bates, and
| Others, in which it was Objected, that the
matter was better set focth 10 the 7th section
of the Bill of Rights.
Mr.. LOWE moved that the committee rise
and report which was agreed to-
Accordingly, the committee rose and re-
ported the article back to the Convention.
My. LOVE moved that the article be rc-
committed to The standing committee.
The motion was agreed TO, ald the order
was made.
HOMESTEAD EXEMPTIONS.
On saation Of Mr. CLEGHCHN, tie Con-
Vsntien resolved into Committee of the Whole
MIR. Foster in the chair-and took up the
consideration of the article reported by the
committee on Exemptions Of Real and Per-
sonal Estate, and the Rights Of Married Wo-
men.
Sec. ], prescribing the exemption of per-
sonal property from execution, to the extent
Of S250-being read by the chairman,
Mr.. MORGAN proposed to strike it out !;
and if the motion succeeded he should move
TO strike out the remainder of the report for
the reason that everything contained in it |
was embraced in the 18th section of the Bill
of Rights .I
Mr., BALCOMBE, though he was in favor
of exemption laws, was disposed to leave
their details to the legislature more partic-
ularly under the present circumstances of the |
Territory lie would as soon consent to see |
banking law, as an exemption law, in the
Constitution. .,j ..t
Mr.. SMITH tbeaght the people would |
sanction the provision, and hoped it would |
be retained
Mr.. COLBURN concurred with Mr.. Presi- !
dent Balcombe. There could lie no hanrd |
in leaving the details of an exemption law to |
the Legislature. Il
Mr.. BATES, in looking over the Consti-
tutions, had not YET seen . provision like
this .
Mr.. NORTH was in favor of restricting
the Constitution to general declarations Of
principles, still he would like to retain some
part of this section.
Mr.. BOLLES was in favor of Incorporate