Quasqueton guardian. (Quasqueton, Buchanan County, Iowa) 1856-1858, 1858-04-29
d x "A. u II FLO RITI.
CHAPTER ia.
A A )T
AUTHORIZING GENERAL BANKING
IN THE STATE OF IOWA.

Il Il n
SECTION /. Be 1enacted By tile Gener.
al assembly oft the State of lowa, That the
Auditor of public accounts is hereby au.
thorized and required to cause to be en-
graved and printed in the best manner to
guard against ounterfeit;ng, such guam
tity Of circulating notes in similitude oi
Bank notes in blank of different denomina-
tons not less than one dollar, AS he may
from time to time deem necessary. to car
ry into effect the provisions of this act,
such blank circulating notes shall be
countersigned, numbered and registered
in proper books to be provided and kept
for the purpose, in the Office of the Audi.
tor and under his direction by such regis
ters as the said Auditor shall appoint for
that purpose SO that each such circulat.
ing notes shall bear the signature Of such
Register, or one of such Registers, of the
notes furnished to any corporation organ
lied under the provisions of this act, not
more than ten per cent ofthe amount shall
be in notes of one dollar each, not more
than ten per cent in notes of two dollars
each, and not more than twenty five per
cent shall be in notes of all denominations
under five dollars, and not more than fifty
per cent in notes Of all denominations
under ten dollars.
Sc. Nothing herein contained shall
be so construed as to prevent any corpor-
alton from procuring their own plate dies
and other materials for engraving and
printing blank notes and furnishing the m
to the Auditor and leaving them ever af-
ter in his custody and control, to be used
and disposed of as though such Auditor
had procured them under the preceding
section.
IS. Whenever any corporation form
ed for the purpose of Banking under the
provisions of this act shall lawfully trans
fer to and deposit with the Auditor. any
portion Of the public stock issued, or to
be issued. by the United States or any
State stocks on which full interest is an
nualfy paid. or the stocks of this State,
said stocks to be rated at ten per cent. be-
low their average value in the city of New
York. for thirty days next preceding the
time Whom such stocks may be left on de-
posit with the Auditor, and in no case
shall the Auditor issue bills for banking
purposes on bonds Of this or any other
State on which not less than six per cent
is regularly paid, such corporation shall
be entitled to receive from the Auditor an
amount of such circulating notes OF diff
ferent denominations registered and coun-
tersigned as aforesaid. equal to tho amount
OF stock actually deposited, rating said
stock At ten per cent. less than its average
valae as aforesaid. a.f.t.l
50. A descriptive list Of the circulating
notes SO registered and signed. shall be
delivered 10 the Treasurer; who shall
copy the same in the book hereinafter re-
quircd, to be kept by him, for recording
descriptive list Of securities deposited
with him for safe keeping.
S. Such corporation is hereby author
ized, after having executed and signed
the circulating notes registered and coun-
tersigned as aforsaid, in the manner pre-
scribed by this act, made payable on de-
mand at the Banking House Of SAID Cor
pOration within this State, to loan and
circulate the same according to the ordin-
ary course Of Banking business, and nc
such corporation shall at any time, issue
or have in circulation any note, draft, bill
OF exchange, acceptance, certificate oil
deposit or other evidence of debt, which
from its character of appearance, shall be
calculated or intended to circulate as
money. other than such notes of circula.
ton as are in this section provided for.
50. Three descriptive lists Of the secu
rites transferred to the Auditor as afore
said, shall be made aud signed by the Au