The Cass County Republican. [volume] (Dowagiac, Mich.) 18??-1880, 1861-01-10
THE BANKING b, Law:

cerning banking corporations, has been
adopted by the people and is now part
of the fundamental law. 1t is as fol-
lows: "The officers and stockholders
of every corporation for banking pur-
poses, issuing bank notes or paper
credits, to circulate as money, shall be
individually liable for all debts con-
traeted during the term of their being
officers, or stockholders of such cor
poration or association equally and
ratabiy to the extent of their respective
shares of stock in any such corporation
or association" This amendment has
removed the only insurmountable OBJ
lection to the Act of 1857, to authorize
the business of banking. 1t is believed
that there is nothing now to prevent
the making of safe and beneficial law
on this subject. Bank paper has be-
come so important part of the cur
rency of the country, that commercial
transactions can, with difficulty, be
performed without it. 1t seems much
better to supply ourselves with this
currency, by laws of our own, than to
borrow from abroad that which is not
only entirely beyond our control, but
of which we have necessarily very
imperfect knowledge. The great prob
lem seems to be, to make the bill always
convertible into actual cash at the will
of the holder, with the least possible
delay. For this purpose there can be
no substitute for the payment of specie
by the bank, on demand. If any delay
is allowed, the bill possesses none of
the qualities of money. For the pur-
pose of securing the bill holder against
any default of the bank, the system of
the deposit of State Stocks seems every
way the safest and best. recommend
the whole act in question, to your most
careful and deliberate review. The
previous law had not the confidence of
capitalists, and has been substantially
a dead letter. seed
THE AsYLUMs. -el
The Asylum for the deaf dumb, and
blind, at the city of Flint, seems to be
realizing the benevolent objects had in
view in its establishment. The whole
number of pupils during the past year
has been one hundred and twenty
three; though only ninety have been
instructed at any one time. A portion
of the buildings are still incomplete,
and the Board of Trustees urge upon
the Legislature, an early appropriation
of sum sufficient, not only for ordi-
nary and educational wants Of the pub
lie, but also to complete and furnish all
the buildings now In progress of erec-
ton. What amount will be sufficient
for all these objects, the Board has not
informed us. regret exceedingly that
the State finances are in such con-
dition that cannot recommend you to
make any appropriation at present, for
building and furnishing purposes ; but
only sufficient for the ordinary expenses
of carrying on the Institution for the
ensuing two years. The amount of
appropriations to this Asylum since
1853, have been $4,000.
Under the existing statutes, the pu-
pills of this Institution are supported
entirely by the State, except in the
matter Of clothing. lam unable to
discover any reason why the pupils of
this Asylum and their relatives, guard
ians, the city, town or county, that
would be liable for their support when
out of it, should not be liable for the
maintenance for such pupils when in
the Asylum, in the same manner as is
provided in the case of insane persons,
in section 33, in act 164 Of the laws of
1859. / therefore recommend the
passage of similar act, in relation to
the pupils in this Asylum.
The Asylum for the Insane at Kala-
mazoo is now fully organized, and has
comfortable accommodations for one
hundred and eleven patients. tits the
duty as it will no doubt be the pleas
ure of the Legislature, to further as fast
as practicable the benevolent purposes
of this institution. But, even the
claims of benevolence must be regula-
ted by sound policy, and the ability of
the State to pay. 1t is idle to talk of
appropriating the money which we do
not possess. This Institution was
commenced upon a very extensive, and
/ have no doubt very good plan. It's
cost was estimated at 100000. The
Trustees, however, have since consid-
erably extended the plan, and now es-
innate the entire cost at $275, 900.
They now ask a further appropriation
of one hundred thousand dollars. As
in the case of other public institutions,
my duty requires me to say, that no
such appropriation can reasonably be
made. Neither do l think that any
very serious evils will flow, from allow
ing the Asylum to wait for the compile
ton of the buildings, until the State
can be extricated from its present en-
barrassments. The State has been,
and will continue to be liberal towards
it. The appropriations made by law
to the Insane Asylums since 1853, have
been $237 900.
REFORM SCHOOL.
The State Reform School is in very
successful operation. An additional
wing has been erected during the past
year, at a cost of a little over eighteen
thousand dollars. The present Super
intendent, Rev. D. b. Nichols, has in,
troduced into the School the new and
Imilder system of discipline. with the
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