Clarksville chronicle. (Clarksville, Tenn.) 1857-1865, 1859-11-18
TENNESSEE LEGISLATURE.
SENATE.

SENATE
sr MONDAY, Nov. "a, 1889.
SECTION /. BE Il enacted By the General Assembly
The State of Tennessee That hereafter all persons
and corporations, partnerships and associations of
persons paying taxes for the use of money shaw
ers or money Dealers in accordance with the laws
in such cases, made and provided, shall be hereafter
allowed to receive deposits, issue checks or bills OF
exchange, discount notes bills and other securities
Prorided that this Act shall not be construed to
authorize such persons corporations partnerships or
associations to issue and put in circulation, any in
strument or promise to pay money intended to pass
as currency or money.
SEC. 2. BE it further enacted, That all laws and
parts of laws in conflict with the foregoing provis-
IONS be and the same are hereby repealed and that
this Act takes effect from and after its passage.
Mr. Peters offered the following amendment to
the first section Of the bill
"And provided, also, that persons and corpora
tiOns, partnerships and corporations of persons pay
out only gold and silver or the notes of the specie
paying Banks Of Tennessee"
Mr. Stokes offered the following amendment in
lieu of that offered by Mr.. Peters:
provided further that no such persons, corpora
tons partnerships associations of persons shall be
permitted to receive deposit or pay out for circu
ation the note notes Of any corporations or asso
Citations of individuals which have not been char
tered by this State
"And provided further that no such percons, cor
purations partnerships or associations Of persons
shall discount any note bill of exchange any
curity for money, made or executed for the pur-
pose of being sold TO raise money, at a greater
rate of discount than at the rate of interest per
annum for the sum of money now fixed by law"
"And provided further, that no such person, cor
poration partnership association of persons shall
pay any interest or other compensation in consider
alton Of deposits
And for any violation of any one of these proyi-
sons such person, corporation, partnerships, or as
sociatons of persons shall be liable to penalty Of
$500 recoverable in any Court having jurisdiction
thereof one fourth to the iniormer or prosecutor
and the other three fourths to the State"
A leghthened debate ensued, in which Messrs
Stokes, Payne, Peters, and Trmbe, took part
The question then being upon the adoption of thu
amendment offered by Mr.. Stokes, the vote VIII!
taken upon the first section, with the following re
suit ayes g. noes IA, and the first section was re-
jected.
The question was then upon the adoption of thu
amendment offered by Mr.. Peters, and it was re
jeeted ayes s, noes Is.
Mr Stokes then offered the remaining PROPOSE
tions of his amendment. Rejected, aye 10 noe
10.
The question then being upon the second section
of the amendment offered by Mr.. Stokes, 1t was re
jected, ayes 8, noes Ia.
Mr. Lane offered an amendment, which was adopt
ed ayes 10, noes 7.
The question then being upon the adoption o
the second section in the amendment offered by Xr
Stokes, il vas adopted. The vots was then upcn tn
passage of the Bill so amended, with the following
result:
Ayes essrs. Boyd Bumpass, Hunter, johnson
Lane, Sjecley, MINIS, McCellNnd, McNelly Payn
Thompson, Wood, and Speaker Newman, 49,
Nays-Messrs Allen, Bradford, Hildreth, Nash
Peters, Richardson Stokes and Trimble, s.
The bill was passed. and under suspension o
rules ordered to BE Transmitted 10 tie House.