The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1861-02-08
al RII,I.

L eBfscTet Ufttt W ACCOMMODATE INC f-CODfc.
SEC. i. BE IL enacted by The General Assem-
BY Of the STATE Of Tennessee, That such
Banks OF this State as have accepted the
provisions OF an Act, passed February 9Th,
1850, entitled, an Act to reform and reg
ulate the business of banking in Tennes-
see, AND are conducting and shall continue
to conduct their business under the pro-
visions of the same, and all other Banks
IN operation and doing business at the
Time said Bank Code wits PASSED, on 9th
February, 1900, are hereby permitted to
suspend and remain in state of suspep-
SION OF specie payment until the LIST july,
lSO2; and and the provisions Of the 18th
section OF said Act, requiring said banks
TO pay into the Treasury, on.half OF one
per cent. per month, or fraction of q
month, while remaining in suspension,
De, and tho same is hereby declared in
operative until the LIST July, 1862, Proridcai,
That on and after the LIST July. 1862, the
provisions OF SAID section shall revive and
continue in full force and eiiect Proeided,
also, That said banks may pay out the
notes OF each other, and of their respec-
tive branches: Procided further, That moth
ing IN this act shall be construed to effect
the rights of individuals against said
banks.
Sec. 2. BE i fuMcr enacted, That the
penalty OF said llth section, already in.
cured by said banks, be, and the same is
hereby released to said banks, from the
20th November, 1860 to the time this act
becomes the law of the State.
SEC. 3. BE Il. further enacted, That all the
9th section of said Act be, and the same
lis hereby declared, so far as said banks arc
a1 Al. =
July, 1862, except SO much of said section
as requires that the issue of said banks
shall not exceed in the aggregate, two
dollars of circulation for one of actual
paid in capital stock: proriticd however,
That from and after the lst July, 1862.
the whole of said section shall revive and
continue in full force and effect.
SEC. 4. Belt further enacted, That it shall
be the duty any bank in any State while
in suspension, to make weekly reports to
the Supervisor of Banks, ofthe amount of
specie and specie funds on hand, of the
discounts and renewals, of notes and bills,
and amount of exchange sold; and it is
hereby made the duty of the Supervisor
TO publish the same at least once month
for public information.
SEC. 5. BE il also enacted, That SO much
of section four of the above recited act,
as prohibits any bank to commence the
business of banking with less paid in
capital stock than three hundred thou
sand dollars, be repealed: Provided however,
| That no bank shall commence the bust
ness of banking with less paid in capital
stock than one hancircd thousand doiLars
SEC. g. BE further enacted That the
bank of Tennessee be, and is hereby aul.
thorized to issue notes of the denomna-
ton OF one, two, and three dollars.
SEC. I. Bet further enacted, That in order
to more eiiectualy relieve the people of
| all sections of the State from their present
pecuniary distress, the Bank of Tennessee
is directed, and the Union and Planters
Banks respectfully requested, in extend
ing their line of discounts to equalize the
accommodations to all sections, as near
as may be, in proportion TO the popula-
ton OF the different banking districts in
the State.
SEC. 8. BE il further enacted That the
provisions of this act shall extend to all
Banks that have heretofore confined their
action to the Bank Code. or will do so on
the passage of this act: Provided, That the
bonds of the Free Banks be taken at
market value as specie funds.
gE" Messrs. Editors Permit me to en-
close for your perusal, and, if you think
proper, for the perusal of your intell-
gent readers, the following extract from
a letter received from my son, at present
Il resident of Valparaiso, Chill. When
in the councils Of our nation madness
rules the hour, and the wise heads of
our statesmen are either clouded by pas.
sion or dimmed by faulty, word Of
warning, fifty spoken by the young, can
not be considered obtrusive
An american Mother.
| "VALPARAIso, Dec. II, 1860.
1--WE have just received the news of
Lincoln's election, and the proceedings
of South Carolina and other Southern
States. | trust, though, that nothing Sc
rious will come out of it, for as yet the
mere election of Republican is not suf-
ficient cause for disunion. The English
and other foreigners here are exulting at
the idea of the downfall of the United
States, saying that they knew it was i'm
possible for Il Government like ours to
last. | think that every American who
can. should 60 abroad for then they
would see the difference between our
country as il is and as IL pouM be II III,
Union uere dissolved"
Second Round of Quarterly Meet.
ingS for Athens District.