The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1862-06-07
'hc Bank Article of the Scw Consultation.
The following is .he Bank Article on
Banks and Currency" OF the new consti-
tuition, on which the people are to vote
BsNKs ASD CtRREycr.

BANKs ASD CCRHEycr
! SECTION |. No bank. BANKING cnrnor,.
ton, or any association or corporation
! with powers Of circulation or deposit. or
any other banking powers. shall hereafter
De created IN this State. This section
shall take effect and be in force im,n.-
d:atelv, as portion OF the constitution of
tins State, and the So me shall be aud
| remain force as SUCH unless rejected l,v
the people, upon the vote hereafter to be
taken for Or against the adoption OF the
same, as provided in this Constitution.
SEC The. general assembly SHALL have
no power 10 pass any Law whereby The
chafter oi he existing banks, banking
cofPoratlors, or any association or corgo-
ration with any banking powers in this
( state, shail he revived, enlarg ID, extended
or renewed, or whereby any of said banks,
banking corporations, asa.ciition or cor.
poratIon With any bankia. powers. within
or without this State, shall Le uttered or
passed within ilIs State; and alter the
year OF our Lor., one thousand eight hun
dred and sixty-tour, no such bill, check.
draft, note, written or printed instrument
of "a less denomination than twenty dol
| lars shall he utteIed or passed in this
State; and alter the year OF our Lord ono
thousand eight hundred and sixty six. TO
such bank bill, check, draft. note, printed
or written instrument OF any kind cha
racter OF denomination Whatever. shall lie
uttered or passed IN this State
SEC. +. The general assembly Of this
State zhali,at its frat session after the
adoption OF this Constitution. ra.- a lav-
imposing such fines, fofeitures and pen.
B a.tIcs Tor viO!4t.Cn- OF section three Of tn.
article As 1t may DEEM best calculated to
enforce the same
SIC .. The auditor is hereby prohibited
/ from receiving from any bank. person or
associatlon OF persons formed or that NAV
hereafter be formed under thr provisions
Of the act OF the general a seulu.v OF this
state, emitted, An act - establish gen
erai system OF banking" passed February
the iteenth, in the year OF our Lord one
thousand eight hundred and fftv-oue. o..
any act amendatory thereof any stock or
bonds for the purpose of i-stint therefor
bank bills or notes intended TO circulate
as money or currency. Thi- Section shall
take effect and be in force immediately as
an amendment 10 the cOnst tuition OF this
State; and the samc shall bc and remain
IN force as such unies- rejected bv the
! people. upon the vote hereafter 10 be
taken for or against the adoption of the
same, as provided in this constitution.
SIC. .. 40 corporation with pore.s Of
banking by discounting hills. note, OF
other evideuces Of mdeh-edue-s. receiving
: deposits, buying and selling gold and
silver bullion, foreign coins aaI bills Of
exchange loaning money on real estate or
personal security. with any Of said powers,
or aly powers incideu til Thereto, shall
. hereafter be created on formed in this
state.
SIC. :. No act Of the general assembly
shall ever be passed reviving or renewing
any association or corporation hereioforo
/ incorporated possessing o. assuming the
banking powers, or any OF them, specified
in section ,ix Of this article or extending
the time of the existence Of any such as
sociatOn or corporation beyond the time
fixed by the acts Incorporating or char
terng such association or corporation.