The weekly Minnesotian. [volume] (Saint Paul, Minn. Territory) 1852-1858, 1858-01-30

went into Committee of the whole, Mr.. Pierce
in the Chair for the consideration Of the bank
ing bill.
Several amendments were proposed and
adopted, when the Committee rose and re-
ported the bill back to the House.
Mr.. BALCOMBE offered to amend the
bill by substituting the following sections
for section 3.
oil times, have on hand, in gold and silver
coin, or their equivalent, one half at least of
which shall be gold and silver coin, in its
vaults, an amount equal to at least thirty
per centum Of the amount of its outstanding
notes of circulation and whenever the
amount of its outstanding notes of crcula-
ton shall exceed the ab We named proper
ton for the space of twelve days, or when
ever the said gold and silver coin or their
equivalent, shall, at any time, fall below the
amount OF thirty per centum OF Its clrcu-
lation, no more of its notes shall be paid
out, or otherwise be put in circulation by
each bank or banking association nor shall
such bank or banking association increase
its liabilities by making any new loans or
discounts, other than diScountlng CT purch-
asing bills, of exchange payable at sight, nor
make any dividend of its profits, until the
required proportion between its outstanding
notes If circulation and gold and silver coin
on hand, shall be restored ; actual deposits
with any solvent bank or banker Of estab-
lishcd credit in the cities of New York, Bos-
ton, Philadelphia, Baltimore, St. Louis and
Chicago, subject to be drawn against at sight
payable in geld and silver coin, shall be
deemed equivalent to gold and silver wher-
ever these terms are used in this act
The substitute was not adopted.
Mr.. BALCOEBE offered an additional
section to be called section ID, which reads
as follows
SEc.-Thc capital stock of each bank
or banking association being authorized ex-
elusive of the securities of each bank or bank
ing association deposited with the Comptroll-
err of State for the redemption of the notes
Of circulation of such bank or banking assO-
citation shall be at least twenty-five thousand
dollars, and shall not exceed five hundred
thousand dollars, and any such bank or bank
ing association may from time To time III
crease the capital stock to any amount not
exceeding five hundred thousand dollars, and
every such bank or banking association, be-
fore commencing bu inesS, shall have paid IN
and remaining in its possession bona tide the
property of such bank or banking ASST citation
for the sole purpose Of such or banking asso-
citation, sixty percen,um of its entire capital
stock and the remainder shall be paid in such
instalment as may be required by the Direc-
tors of any sucl, bark or banking association:
The yeas and nays were ealled-resulted
yeas IL, nays 81.
A discussion here took place On the pro
priety of introducing new sections to a bill
when before the House for engrossment,
without having them printed, so that the
members could understand them perfectly
The question was started in requiring Mr..
Grover to vote on the section oner. ed by Mr..
Balcombe.
Mr.. RUTAN moved that all additional
amendments, offered by Mr. Balcombe, be
laid on the table, and printed i'll the journal,
which was not agreed to.
The House then adjourned.