New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-03-01
atn 0rlsans Bulb Crssfsnt.

SttW VDllLAt5 ~ HllV NlkSltNl.
: ss- fi.ef following bills were presented in the sen
ate, few Gays since, b, the Committee on Banking.
As they affect some little capital in our cool city, We
publish them for the information Of all parties con
eerned f acf
de1npnainston fh<p Ten Dollars and Twenty Dollars.
SEcTI0s 1. Be IL enacted by the Senate and House
Of Representatives. Of The State Of LOuisiaaa, ia
General Asseabiy concerned That from and after the
rst day OF October, in the year thousand eight
hundred and ffty-eight. every bank in this State
V prohibited from putting In circulation or issuing
any bank blu or note, check, Certificate or any
acknowledgement Of indebtedness, pnrposting to be
bank bill or bank note, OF less denomination
tnan Ten dollars whether the same be OF the Tank SO
clrcnztsg or Issuing the same or Of any other bark
o. thls State or other placeany existing law Of this
s'e,e 70 The contrary Notwithstanding.
SEC. = BE further enacted etc. That from and
after the first day Of October, one thousand eight
hundred and hfty-nine, every bank IN this State il
pronoited from putting in circulation or issuing any
cans nlli o. note check, Certificate or any acknow-
bill or bank note. Of a less Denomination than
ttcenfy dollars, whether the same be of the haak u
circulating issuing the same or Of any other bank
Of this State or other plsceany existing law Of this
State TO the contrary notwithstanding.
SEC. 3. BE u further enncted, ETC., That no hank
In this State shall after the rst day Of October one
thousand eight hundred and ty eight receive on de-
post or pay out any bank bill or note, check cerf
ficate, any acknowledgment OF Indebtedness Dur.
porting to be a bank bill or bank note, Of q less de-
nomination than ten dollars, whether the same be Of
the bank so circulating or issuing the same, on Of any
other bank Of this State, other paceany existing
lag Of this State 70 the contrary notwithstanding.
SEC. A. BE Il further enacted etc., That no bank In
this State shall after the first day Of October one
thousand eight hundred and fftynne receive on
deposit or pay out any bank bill or note check,
thcate, or any acknowledgement OF Indebtedness pur
porting TO be a bank bill Or bank note of a less de-
nomination than twenty dollars whether the same be
OF the bank so circulating issuing the same or Of
any other bank. Of this State or other pacs-any e
isting law Of this State 20 the contrary nothwith-
standing. va W
SEC. S. Be it further enacted, etc. That 90 soon "a
the banks shall have accepted 10 the manner herein.
after provided the provisions Of this Act the bank
or banks so accepting shall have the right to charge
by them, towit: 4ss
lst On paper having one hundred and twenty days
to run, nine per cent. per annum and -.
I'd. On paper having ninety days to run, eight per
cent per annum.
And furthermore, on such acceptance, the capital
OF the banks now legally operating under the pro-
visions OF the laws establishing system OF Free
Banking for the Stateo Louisiana shall be free from
municipal taxation for and during the period for
which they have been respectively organized.
SEC. 6. Be ii further enacted, etc. That this Act
shall take effect upon the banks severslly accepting
the same, so soon as its acceptance shall be notified
to the Governor Of the State. majority 10 number
and amount OF the stockholders OF the Chartered Banks
sha have the right TO accept this Act and the same
shall be accepted by the Free Banks in the manner
provided by law for change in their several acts OF
incorporation and any bank refusing or neglecting
to accept this Act within ninety days after ts pro-
mitigation, shall not be entitled to any Of its benefits
shall they be relieved from forfeiture or any other
liability heretofore incurred for any violation Of law
Corporations under the provisions Of The Act emil
ae 70 es.sosn general system Of ffee Banking
SECTION l. BE IL enacted By the Senate and House
Of Representatives. of the State of Louisiana in
General AsseHby concened, That from and after the
passage OF this Act it shall not be lawful TO establish
any banks or banking corporations under the proys-
ions Of the Act entitled IAN Act to establish gene
raj system Of Free Banking in the State Of louisiana
approved March the 18th, 1855. 1920 i#s.,
SEC. 2. Be 1t further enacted, ETC., That from and
after the passage Of this Act it shall not be lawful for
the Auditor Of Public Accounts to register OF stamp
any bank bills for any banker or banking corpora.
tons not now legally in operation, under the proyis-
ions OF the Act entitled IAN Act to establish a
general system OF Free Banking in the State OF Louis
ianah approved the 30th of April, 1858 and Of the
Act entitled IAN act to establish general system OF
Free Banking in the State of Louisiana approved
the 18th Of March, 1856. 81
An ACT appoint Secretary Board Of cur.ncy .od
define the duties Of his Office. 10y 49,
SECTION /. Be Il enacted by the Senate and Hous.
| of Representatives. of the State of Louisiana IN
General Assembly convened That on the first day o.
March, 1885, and every TIVE years thereafter the Gov
ernor by and with the advice and consent of the Sen
ate shall appoint citizen of Louisiana as Secretary
Of the Board Of Currency. He shall receive an an
nual salary Of 81 500 payable by the banks in the
same manner as the members of the Board OF Cur
rency are now paid He shall take the oath pre-
| scribed by Article 80 OF the Constitution.
SEC. 2. BE 10 further enacted ETC., That il shall
be the duty Of said Secretary under the direction oil
the Board OF Currency, to keep record of the pro-
ceedings OF said Board to preserve its papers, arch
ives books documents ETC., and to be ready within
business hours to submit to the inspection OF any ct
zen having an interest in the same, the records.
books, documents, ETC.. which have been entrusted
TO his safe keeping. He shall arrange and prepare
such papers and statements the Board of Currency
may order in furtheance of the duties imposed upon
it by law. 2
SEC. 3. Be IL further enacted ETC., That In case
OF the absence inability to serve of the President
Of the Board Of Currency it shall be the duty of the
Secretary, in addition to the duties herein imposed
| to act as President OF said Board.
Sec. 4. BE IL further enacted, stc., That Il shall
be the duty OF the Secretary annually to prepare for
the use OF the General Assembly detailed statement
of the operations OF the banks for the preceding
twelve months and to collect and furnish such infor-
nation, with comments thereon, in relation 10 the
banks and the currency, as in his judgment may aid
the General Assembly in preserving sound currency
Said report shall be presented to the General Assem-
I
thus appointed shall attend the sessions of the Legi
atnre, and shall act er otico, Secretary OF the
Joint COMMITTEES on Banks and Banking of the Gen.
| sral Assembly.
SEC. s. BE IL further enacted, ETC., That this Act
shall take effect from and after Its passage. u.s.
AN ACT TO amend the section Of the Act entitled
Act TO establish general system Of Free Banking
II. State OF Louisiana approved the 18th day Of March
| BE il enacted by the Senate and House of Repre-
sentatvss of the State of louisiana in General as
sembly Convened That the twentieth section Of the
act entitled an Act to establish general system Of
Free Banking in the State OF Louisiana approved
the 18th of March. 1855, be amended and reenacted
so as TO read as follows: .ff.ts -
SECTION 20. Whenever notice OF protest for nom
payment of any note, as described in the preceding
section, shall be lodged in the District Court verified
by the affidavit Of the creditor that the amount Is
still due and unpaid, it shall he the duty of the Judge
Of said Court forthwith to order notice of the same
TO be served upon the Acknowledgement OF the State
and it shall be the duty Of the Attorney General re-
eeivng said notice Immediately to ascertain whether
there be any legal or equitable defense to the pay
ment of said note and IT, in his opinion, there be no
such defense, he shall forthwith apply to said court
by petition for writ of sequestration against all the
property and assets Of the bank whose note has been
protested aforesaid aud for Judgment Of forfeit
ure upon filing said petition. such sequestraton shall
ISSUE and it shall be the duty of the court at once tC
appoint three qudators who shall give such security
as the court may order. Said bank shall be allowed