Staunton vindicator and general advertiser. (Staunton, Augusta County, Va.) 1858-1860, 1858-03-06
The Bank Denomination Bill.

prohibiting the circulation Of bank note:
under the denomination Of $40, after thu
. lst OF December next, and prohibiting the
. circulation OF notes ualcr the denomination
OF S2O. after Dec. 81, 1859, passed tha
body yesterday. The following is copy
or thus important bill:
!. BE it enacted ~ the General assembly
That no bank or branch thereof shall, a
any time after the 3lst of December, 1858
pay out on loans or discounts, or in pur.
chasing Of drafts or bills Of exchange. or il
payment Of depositors, nor shall it, in any
mode, put IN circulation, the notes Of any
bank or banking company beyond the limits
OF the Commonwealth, of less denomina.
ton than $50. Any cashier, Or other Of
; ticer OF the bank, for violation Of this law
shall De subject to the same penalties, and
may De proceeded against in the same mode
as is herein prescribed against sheriff.
2. 1t shall be the duty Of the commission
ers of the revenue, and Of the courts te
whom application shall be made for license
to require from each and every person who
shall apply for license an oath that he will
not pay out, within the limits Of the Com
monwealth, notes issued beyond the limits
thereof Of less denomination than $40
3. 1t shall not be lawful for any sheriff
deputy sheriff, sergeant OF any collector Of
the public revenue, to pay out any note is
sued by any bank or banking company, be-
yond the limits Of the Commonwealth, of a
less denomination than $40
a It shall be the duty Of the commission
ers Of the revenue. aud Of tho courts to
whom application lfass be made for license,
to require from shy person who shall apply
for license, an oath thu. he will not pay out
after the 31st Of December next, any note
or notes Of a banking company or corpora
ton, issued within the limits ct this Com
monwealth, of a less denomination than
$40, and that he will not pay out, after the
3lst Of December. 1859 amy note Of less
denomination than $40: Prouide2, ho,oerer,
That such person may pay to the sheriff, or
any collector Of the public revenue for this
Commonwealth, notes issued by banking
companies or corporations within this Com
monwealth, Of a less denomination than $40,
after the 1st Of August 1868, and until the
31st Of December, 1859.
S. 1t shall not b. lawful for any sheriff,
deputy sheriff, sergeant or collector OF the
public revenue to pay out after the 91st Of
December, 1853, any note or notes issued
by banking company o. corporation Of a
less denomination than $40. Or to pay out
after the 31st Of December, 1850, any note
or notes issued by banking company or
corporation within the limits Of this State,
Of less denomination than $40, Prouiided,
hoacerer, That any sheriff deputy sheriff,
sergeant or collector OF the public revenue,
may pay into the Virginia, Farmers and
Exchange banks in Richmond, on special
deposit, to the credit Of the Commonwealth,
as part Of the public revenue, notes issued
by banking companies or corporations in this
State Of less denomination than 80 until
the LIST Of November, 1859,
6. It shall be the duty Of the Treasurer
of the Commonwealth, when any special de-
post shall be made to the credit Of the Com
monwealth before the lat Of November, 1859
in the Virginia, Farmers or Exchange
Banks in Richmond, Of notes Of less de-
nomination than $40, issued BY any bank
ing company or corporation within this
Commonwealth, to transmit such notes to
the bank or corporation at which they are
payable, and receive in return therefor
other notes CT such bank or corporation Of
the denomination Of ten dollars. CT come
multiple Of ten, issued BY such bank 10 the
amount Of the sgm thus transmitted,
I. No railroad, navigation or incorpor-
ated company in Virginia, shall, after the
Slst December, 1858, pay out the motto or
notes Of any Bank or Banking Company
beyond the limits Of this State, of less de-
nomination than twenty dollars; and 20
such railroad, navigation OF incorporated
company shall, after the 3lst of December,
1858. pay out any note Of any Bank or
Banking company in this State Of less de-
nomination than ten dollars; nor after the
3lst December, 1859, shall pay out any
note or notes, Of Bank or Banking com
pany in this State, Of g. less denomination
than twenty dollars And for any viola
ton Of che prorisiens Of this section, such
railroad, navigation or Incorporated COM
pany shall be subject to the same penalties
and may be preceded against IN the same
mode, as are hereinafter prescribed against
sheriff. Provided. that any railroad, nayi-
cation or incorporated company in this
State may pay into the Virginia, Farmors'
and Exchange Banks, in Richmond, notes
Of banks or Lanking companies of this State,
Of less denomination than ten dollars after
tie 3lst Of December, 1853, aud Of less
denomination than twenty dollars after De-
cember 81, 1889, for any amount due the
State Of Virginia; and such amounts shall
be received BY such banks as special de-
posita, and the Treasurer Of the Common
wealth shall disrrosc Of -aeh notes in the
manner prescribed in tie 7th section.
s. It shall be tho duty Of the grand iuries
lot every county and corporation within
which Circuit Court is held. to make pre-.
sentiment Of all violations of this law; and
should any sheriff, deputy sheriff, sergeant,
or any collector Of the public revenue, npoE
trial by Indictment before jury, be fonnd
guilty of the violation Of this law, he shall
pay fire Of one hundred dollars for the
first offence, aud upon conviction second
time, and upon each separate conviction
thereafter, for ike violation, fine of
$500, to be paid into the county Or copper
alton treasury, as the case may be.
g. This act shall be IN force from ita pas
sage. A,
A FORTUNATE NAN.