The Lancaster ledger. [volume] (Lancaster, S.C.) 1852-1905, 1858-01-06
The New Bank Act.

The following is the Act just passed in
our Legislature, and now ,be law o. South
Carolina in reference t. Banks and bank.
lmg. Read it, stud" it, aud understand
it.:
IN tict for the Suspension Of Certoia
Sections Of Certain -AciS, amd for other
purposes.
/. BE a. enacted by the Senate and
Ho"se of Representatives. now met und sit
tny m General Asscmbiy, That the one
raiIUn Of the second section uf an Act en-
tlIei An Act TO provide against the sHs
pension OF specie payments toy the Banks
ct this State ratified on The 18th day of
December, 1910, be, and the same j,
hereby suspended until the fist day Of
January, 1859, on the express condition
that no execution issneG upon judgments
already obtained or hereafter To he oh.
tanned 10y any of The non specie. PAVING
hank-, shall be enforced until such bank
shall resume specie payments: Pr0rIded.
nevertheless, That each debtor against
whoT the banks may. have obtained indg
mcnt and issued execution thereon. shall
pay To the banks Of whom they may be
=" indebted, interest upon the whole 4
mount OF the judgment recovered. at the
expiration OF every sixty days, from :he
passage Ot this Act, At The rate Of seven
per cent per aunum snh any debtor ner-
lectng or retu sing 80 to do, Shall hc de
rnved OF the benefits Of thus Act: Pr0Si
aed, That # The property of the debtor he
sid under an execution or executions of
other creditors. the execution Of the bank
shall bc cntrtIeI To- the sa,m. lien and nay.
ment rs now provided 10y law.
=. That the operation Of the 5,h sec
tIon Of an Act entitled An Act to reyn.
late tn" Planters and mechanics i INK Of
South Carolina, the Union Bank of South
Carolina, the Cummrrclal Bank t Col.
umOia, South Carolina. and To iururpo
rate tn" Exchange Bank of Columbia,
The fanmers' and Exchange Back, AMI
'he Peoples Bank of Charleston. the
Bank "t Ncwherry, the Bauk Of Cn,s cr,
The Bank Of Sumtervl'e, the Painters
Bank 81 Fairfield, and the Western Bank
"i South Carolina, at Anderson" ratified
on the lG,h dav of December. 1852.
and AL clauses and section of Acts r. rn
acti"g the provisions OF the sad section,
aud applying the Iac,NYi.io,,, thorvuf Is, ~!
or any OF the banks Of this State, incorpo
rated since the aforesaid Act, he aud tie
same are hereby susI ended until the l.,
day of January, 1859.
3. That FROM and after the l>t dav Of
Jauuarv, A. -. 1850, the bank notes
issued bv any bank, aud IN circulation or
out ot possession OF the bank, shall nt anv
umc exceed, for more than thirty sue
c"ss'vc days, tire" times the amount OF
the gold and silver CON and bullion in
POSSESSION "f the bank As its property.
and Al ITS banking house, such bank shall
forfeit five huudIcI dollar, for each and
every successive day. during which such
excess shall continue, TO he recny-r"l hv
action OF debt u; the suit "f the State:
hmd III order that such excess, when II ex
lists may be apparent, it shall be the duty
OF the President aud Cashier OF every
bank OF issue on MDm,ilv Of every week
TO transm't To the Comptroller General
An account of the amount Of bank notes
oi such bank IN circulation or ont OF pos
session OF the bank, on each and every
day during the week ending on the next
preceding Saturday, and also AN account
-: Tie amount of gold and silver coin and
bullion IN The possession "t the bank, as
IT'S own property, and 4t lis ,uk n. house
on each aud every day of the same week;
winch account sha! be certified bv the
oath OF the President and CASHIER, taken
before and certified hv any Magistrate
duly authorized To adm MISTER oaths; aud
any person swearing falsely 10 any such
account shall bc deemed guilty. of rerurv
and shall be subject to tie pans and pen
aIties thereof; and the ComplroIer Gen-
cral shall, 1T least once in every month,
collect the account of the daily state of
their circulation and specie rendered by
the sever,l banks Of issue, in conformity
herewith, and publish the same, so col
Iected, IN some newspaper, III the follow.
ing, form:
Daily state OF circulation and specie OF
Banks Of issue in South Caroiina,
Tram The day Of to the
day Of eighteen hundred and