Fremont journal. [volume] (Fremont, Sandusky County [Ohio]) 1853-1866, 1862-01-24


ernor's proclamation, on until such sltera-
ton, nmsndment or repeal Of this sct ascfe-
said, the suspension Of said banks or any Of
them, to redeem their potes Of circulation
with coin, shall not operate to diyest the H.
tie and right Of any such bank 70 any Of its
rights, credits, property, fBoDsy, securities
or effects, or " transfer the possession Of
tho Same out Of ssid bank or banks, or
work forfeit ofits charter; Providsd, That
any bank in this State which shall fail with
in thirty days from the passage Of this act
to file with the Auditor Of State tho writ
ten consent Of such bank TO accept Of, and
be taxed by, and in accordance with the
provisions Of the act entitled ian act 10
amend an act entitled an act for the assess.
ment and taxation Of property in this State,
and levying taxes thereon according to its
true value IN money passed April s, 1852"
which said act was passed April A, 1851,
shall from and after the expiration Of said
thirty days forfeit all privileges intended to
be conveyed by this act, and be subject
from that time to all the penalties provided
for 10 the act or acts under which such bank
was organized.
Sec. 2. Until otherwise provided by law,
it shall be lawful for any of the banks Of
this State 10 receive aud pay out the notes
of circulation Of any Of tho solvent banks Of
this State, althoug II in state Of suspension
as aforesaid.
Soc. 8. That it shall bc the duty Of said
banks to receive and pay out as money, the
demand notes OF the United States.
Co. A .ol.o,k L. .rotst,,Ns,.
of the State svAiling itself Of tho provisions
of this suspending act, shall, during the con-
tinuance 10 suspension under this act, il re-
quired by the Treasurer Of State furnish
him with sight exchange, payable in New
York, in coin, for its own, 10 the proportion
that the circulation of such notes bear to the
circulation of all tho solvent banks Of this
State, at rate not exceeding one half Of one
per cent. premium, TO the extent required
10 pay the semi-annual interest on the pres
ent foreign debt Of the State, and so much
of the principal as is now or may be provi-
ded BY law.
Sec. 5. The demand notes Of the United
States, and the notes OF the solvent banks
Of this State, shall be received by the sew
eral county treasurers and treasurer Of this
State, and the same be disbursed by such
treasurers, and the treasurer Of State, on all
lega! demands upon the same.
Sec. 6. That until otherwise provided by
law, it shall be lawful for any bank, banker,
broker exchange broker, or other money
dealer, or incorporated company to put in
circulation the notes Of issue Of the solvent
banks of this state, although the said banks
may not be redeeming their notes in gold
and silver coin under the suspending pow
er of this act: Provided, That no bank
shall have the benefit Of this act, after neg:
lecting or refusing TO furnish its proportion
Of exchange required by the State, as pro-
vided for by this act, or after it shall refuse
to take the demand notes Of the United
States; but after the neglect or refusal as
aforesaid, all such bank or banks so neg
lecting or refusing, shall 10 subject to all
the penalties, to which they were liable
previous to the passage Of this act.
Sec. 7. This act shall take effect from
and after its passage.
JAMES r. HUBBELL,
Speaker of the House or Representatives.
JAMES MONROE, ...
President pro tenn of the Senate.
January 16, 1862