Juliet signal. [volume] (Juliet [i.e. Joliet], Ill.) 1844-1???, 1862-05-27
Extract from the New Copsti-
tuition.
ARTICLE XVII
BANKS AND CURRENCY.

Section. l. No bank. or banking CORPORA.
tion.o any association or corporation, with
powers OF circulation Of deposit, or apy
other banking powers, shall hereafter be
created in this State. This section shall
take effect and be IN force Immediately. as
a portion Of the constitution Of this State.
and the same shall be and remain in force
as snch, unless rejected by the people, upon
the vote hereafter to be taken for OF against
the adoption Of the same, as 10 provided in
this constitution.
Sec. 2. The general assembly shall have
no power to pass any law Whereby the
charter Of any Of the existing banks, bank
ing corporations, or any ssso citation or cor
poration with any banking POWERS in this
State, shall be revived, enlarged, extended
or renewed, or whereby any of said banks,
banking corporations, association or cor.
poration with any banking powers, shah
acquire any rights or privileges which
they do not possess under the constitution
of this State, and the laws passed in Dur,
suance thereof.
Sec. 8. No bank bill, check, draft, note
or other written or printed instrument, Of q
less denomination than ten dollars. for the
payment Of money or other valuable thing.
intended to circulate as money or currency,
issued or drawn on any bank. banking
corporation or any association or corpora
ton with any banking powers, within or
without this State, shall be uttered or pass
ed within this State and after the year Of
our Lord one thousand eight hundred and
sixty four, no such bill, check, draft, note,
written or printed instrument of Q less
denomination than twenty dollars shall DO
uttered or passed IN this State and after
no If Al
hundred aud sixty-siI, DO such bank bill.
check, draft. note written or printed in
strument Of sny kind, character or demon.
nation whatever, shall be uttered or passed
in this State.
Sec. 4. The general assembly of this
State shall, at lis first session after the
adoption of this constitution, pass a law
imposing such fines. forfeitures and psnal-
ties FOR Violations If seci three Il this
article as 1t msy deem bsst calculated to
enforce the same.
Sec. D. The auditor is hereby prohibited
from receiving from any bank person o.
association OF persons formed, or that NAV
hereafter be formed under the provisions Of
the act Of the general assembly Of this
State, entitled. AN act to establish . gen.
eral system of banking" passed February
the fifteenth, in the year Of our Lord one
thousand eight hundred and siIty.one, or
any act ameniatory thereof. any stock or
bonds for the purpose Of issuing therefor
bank bills Of checks intepder 20 circulate
a. money or currency. This section shall
take effect and be in force Immediately ss
an amendment to the constitution Of this
State; and the same shall be and remain
in fnrce as such unless rejected by the pep
pie. upon the vote hereafter to be taken for
or against the adoption of the same, as
provided liz this constitution.
Sec 6. No corporation with powers Of
banking by disccunting bile, notes or
other evidences Of Indebtedness. receiving
deposits, buying aud selling gid ami silver
bullion, foreign coins and bills Of exchange,
losning money on real or personal security,
with any of said powers, or any powers in
cidental thereto, shall hereafter be created
or formed in this State.
Sec. Z. No act Of the general assembly
shall ever be passed reviving or renewing
any association or col poraiion beretofo-e
incorporated possessing or Assuming the
banking powers, or any Of them, specified
IN section six Of this article, or extending
the time Of the existence Of any such assoc
citation beyond the time fixed by the acts
incorporating such association or corpora.
ton.