New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-03-23
coins and bank notes. the rates of John Wood e. Co :

The Legislature of the submissive State of Mis-
souri, has recently granted bill of amnesty-an
armisice to the banks of that State until lst May
1862, without the exacton of any penalties for the
present suspension. To cap the climax of unwise
and mpolitic legislation, the banks are relieved
from making weekly statements. The banks are
relieved from paying interest on their notes. The
banks are prohibited from paying out notes of tho
banks of other Suites. Frstclass tOnsorial priv
lepes are granted to the banks by section H. and
restriction of interest repealed. From all accounts
q greater shinpaster act has not been enacted for
yeass- The banking system of Missouri can now
be regarded as one of the montrostes of the nine
tcenth century.
Another novel idea is nauguratcd that is, every
director shall publish his indebtedness as payer,
endorser, etc, quarterly.
The hard money era of Missouri may now be said
to be one of the things that were. Connected, as
the interests of New Orleans and St. Louis have
been for years. commercially and financially, these
interests win in some iogrce be greatly AZTEC tad by
the rotten and corrupt System Of banking now cX.
tant in the State of Missouri.
The following arc Homc of the clauses of the
recent act giving paper machines full sway for
over one year:
Sec l. Suspension Of banks legalized till May l.,
1862 doing away with all penalties for suspendIng.
| Sec O. No interest to he collected on bank notes
| on account of su-peuding specie paying bank
| notes of other Stnte8 be received on deposit,
| in payment of debts or exchange, but not to pay
| the same out in this State, under penalty Of for
fciting their charters,
Sec 8. No parent bank allowed to receive
! branch paper at discount. No bank, savings
| associatiDna or brokers allowed to keep any cur
rency account, but account cash, alter the re-
sumption of specie payments,
| Sec g. When banks are fully secured, all debt
Ors TO have paper renewed on same Time US ofiBi-
| nal, Oh paying 10 yet. on each renewal.
| Sec g. Stock not fully paid up, time extended
| till the resumption Of specie payments.
Sec T. Bank commissioners, after passage OF this
act to have all bank notes stamped SO as to dis
tinguish them from those out.
Sec. 8. Any director remaining under protest
twenty days has to resign
Sec. 8. Repeats publishing weekly statements.
Sec. H. Restrictions Of interest repealed; allows
& Elct interest and same rate OF discount on e&
change with additional exchange and re.eXchhnBe
nrohiDits from issuing more than two dollars OF CIR
cuation for one of capital all received above thl'
amount TO be returned TO Bank Commissioner 18th
in one year after giving receipt to bank OF mum
bcrs, etc, to be burned
Sec II. One 13ct. to cover all taxes whatever
not lawful for any city, county or town corporation
to levy.
Sec Is. Compcls each director, individually AM
as firm, to publish the aggregate indebtedness
, both to the parent and branch bank as payer, in
dorser, etc, in the quarterly statements, and hot
together shall not exceed the amount allowed b.
J directors receive from parent bank.
Sec. EIohbits savings institutions, saving