Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1861-07-17

vided this resolution shall not be construed to au.
thorze or direct the Governor and Treasurer to issue
any other State bonds to any other Corporation IN
this STATE, unless in his judgment, he may consider
It his duty to do SO under the requirements Of law
Read three times and passed, June 2Sth 1851.
Teste: Pres. Of Convention.
WALTER L. STEELE, Sec'y.
L. G. EDWARDS, Asst Sec'y. -
mo. 34] sy,,SE z
An Ordinance to provide the Ways and Means
for the Defence Of the State. -
SEC. /. Be 1t ordained, Gc., That the sum Of
three millions two hundred thousand dollars, or 20
much thereof as may be necessary, be- and stesarne
is hereby appropriated to meet the demands on the
public Treasury for the next ensuing two years,
which sum shall be raised and provided for in the
way and manner following:
Sec. Q. Be 1t further ordained That the public
Treasurer is hereby authorized and required to have
suitably prepared, and to issue Treasury notes. paya
BILE to bearer upon the faith and credit Of the State
to the amount Of two hundred thousand dollars, Of
the various denominations of ten, twenty-five and
fifty CENTS in the following proportions to Wit forty
thousand dollars in notes or bills of ten cents sixty
thousand dollars in bills notes OF twenty FIVE
cents, and one hundred thousand dollars in notes or
bills of fifty cents which said notes shall be receiva-
BILE in payment of public dues shall bear no interest,"
shall be made payable to bearer. and be signed by
the public Treasurer, or by some person to be by
him duly authorized and appointed to sign the same
and who shall receive reasonable compensation for
such service, to be paid out of the public Treasury
and shall be redeemable before the first day Of
January, 1866. Provided however, that no such
notes shall be issued before the first day of March
next, and that the General Assembly may make
provision for the redemption OF said notes before the
time specified, or may extend the time of redernp-
tion as in their judgment the public may require
Thepublic Treasurer and Comptroller shall each pro-
vide book in which shall be kept an accurate &C
count of all the notes of the various denominations
paid out under the provisions of this ordinance and
also accurate account of all sums returned to the
Treasury; which books shall at all times be open to
the inspection Of the General Assembly, and for the
keeping of such books, they may, if absolutely ne
cessary be allowed to employ some suitable person
to act as clerk.
Sec 8. Be 1t further ordained, That the public
Treasurer of the State be- and he is hereby author
lied and directed to negotiate loan loans, with
the several banks of this State with private iBdi
viduals in such sums and at such times as he may
deem necessary and proper, to an amount not ex-
ceedng, in the aggregate, the sum Of three millions
Of dollars, including the amount already borrowed
Of the banks of this State, under the provisions of
act passed at the late session of the General As
sembly, entitled An act to provide ways and means
for the public defence for which the said public
Treasury shall issue the bonds of the State bearing
six per cent interest, and payable twelve months
after the date thereof and should the public Treasu
er not be prepared to pay the same at maturity he
is hereby authorized to renew the same on such
terms and for such time he may think proper, or
to negotiate new loans in lieu thereof and he the
pnh1ic oil Goop a fr,.oo pda tn
count of all such loans, and make report thereof to
the General Assembly from time to time
Sec. 4. Belt further ordained, That those banks
in this State who shall loan to the State their pro
rata amount of the sum hereby authorized to be
borrowed of them. whose charters forbid their issu
ing bills of less denomination than five dollars be,
and they are hereby authorized to issue bills of the
denominations of one dollar, two dollars, and two
dollars and half to the extent of five per cent Of
their capital stock actually paid in, provided that the
same shall not be construed to authorize the said
banks to issue an aggregate amount of circulation
greater than that now authorized by their charter
This authority hereby granted to issue bills of the
denominations of one dollar, two dollars, and two
dollars and half shall cease whenever the Gener:l
Assembly shall provide and direct upon the pay
ment to the banks the principal and interest of the
sums borrowed Of them under the provisions Of this
ordinance.
OEC. ~ DC u .|uTLtST OTUUCtCU, 1udI HO UdiIh vi
this State shall be required to resume specie pay
ments, whilst any portion of the amounts herein
thorized to be borrowed from such banks shall re.
main unpaid
SEC. g. Be 1t further ordained, That if any per-
shall falsely make, FORGE counterfeit or cause
the same to be done, or willingly aid assist there
in, any Treasury note in imitation Of or'purporting
to be a Treasury note or bond issued BY authority
of this act with the intent to deraud the State, or
kko Xo,a
ing shall be deemed guilty of felony, and on convic
ton thereof in the Superior Court, he shall be adj
judged to stand in the plory one hour, and receive
thirty mine ashes on his bare back, and he imprs-
oned not less than six months, nor more than three
years. and fined at the discretion of the court and
all or any of such punishments may, at the discre
ton of the court, be inflicted.
Sec T. Be it further ordained, That if any per-
son. either directly or indirectly, whether for the
sake of gain or with intent to defraud or nure any
other person. shall utter publish any false forged
or counterfeit notes mentioned in the preceding
section, or shall pass deliver or attempt to pass
or deliver the same to another person. knowing the
same to be falsely forged counterfeited the per-
son so offending SHALL on conviction thereof in the
Superior Court, be punished in like manner as is
provided in the preceding section of this ordinance
? SEC. 8. Be 1t further ordained, That this ordi-
nance or any portion of it may hereafter he altered,
modified or repealed by the General Assembly. pro-
vded nothing contained in this section shall be con-
strued to dvest any rights accruing to the banks or
other parties without their consent
SEC 9. Be 1t further ordained, That the act pass.
ed at the late session the General Assembly ent
tied can act to provide ways and means for the
public defence" ratified the 18th day of May, 1851,
be, and the same is hereby abrogated and annulled
Read three times, and passed 2sth of June, 1861.
W. N. EDWARDS,
Teste: Pres Of Convention.
WALTER L. STEELE, Secretary.
l. G. EDWARDS, Assistant Secretary.
No. 35.l