Delaware gazette. [volume] (Delaware, Ohio) 1855-1886, 1863-03-13

Our readers may not, be fully posted con- !
cerniag tie ae4 nati0nal banking laW- Nei
therefore give It's points as Ne hnd them IN
the newspaper absiractss
Banks ate TO be organized By the subscrip-
tion Of stock Bshares OF 800 each. Steck-
holders- are entitled 10 one vote fpT every
share, aiid are allowed 10 vote by proxy, mn
der properly guarded restrictions. If bank
of issue be contemplated. which is BY no
mems a natural consequence Of tie bill, then
bonds Of the United States must be deposited
in tie Treasury. for which she Guvernment
viii furnish notes fer tlse banks TO sign, eireu-
la5e and redeem as It's Own, 20 the amount Of
80 per cent. OF the bonds deposited. No
sotes viii be furnished of I5Ss ain0iiiA than So,
aad no elher notes mas be issued by The bank.
These notes, during the suspension Of specie
psymeats. are TO be a legal tender FOR all
debts except public dues, by ard to al! pe,-
ssns except to the hanks issuing lbem. The
i,a,zs must redeem in lawful Eneney Of the
Caised States, aud for iisis purpose are re-
quire3 10 keep on lialsd az amoant equivalent
10 25 per cent. Of the amqaHi Of nosos they
have IN circulation, and shosij iiIis r,deHp-
ison fnud fall below 25 per cent, they are fer
bid1eu 10 issue any more notes uuH The de-
&c eicy Is made gaod-
Sh.u'd tha baI.,is OF the United States, de-
p.,siild in she treasury as security for the
notes furnished TO the banks for circulation,
fail selow par. and continue 50 for { specified
perioi the banks nrc rcqaired to depasit sd
di,iouai bonds. The Gogernment wiz appoint
special agent to ialsg charge Of The STAIRS of
eey association lhzl fails 10 redeem lis issues,
ard will prccee1 TO redeem shs notes Of such
ssaeeiatieru r, the public Treasury, retaining
sud selling tie bonds deposited TO pay for the
same.
| Banks are forbidden from paying oat Hneur-
/ rent or dclreciasca msney oser Filcir counters
| frurn sDecualing in real esie;c ; ffela loaniHg
extensively to ihcir can eteckhelders from
/ pairing sry diyiirnds upon profits, except all
I bad aud dsubtfai bis are first deducted from
such profits frurE pcdging or depesiiing their
own fuads as security for any debts dae or id
vaEceI received from other banks snd from
leaning to their oun officers, directors and
stockholders uPoa terms more favorable than
these exactei rom strangers
Officers, directors and Stockholders are for
| hidden from becoming indebted TO their OHa
banks beyond certain prescribed amount, in
defined proportion 70 she stock owned BY
Ihem, and shey are forbisaen to sell or trans
fer any stock ornSd by iben whiie directly
or Indirectly ind-bsed s,sbeir baqk
Backs ars required periodically to publish 3
statement pf tAeir condition, made anief Ga: "a
to keep publicly posted for the Inclination oI
all who NAY be interested, list Of the names
aud residence Of their officers, dlreescrs asd
ssockholders and the amgunI Of stock owned
by-e4ch, and a periodical examination into the
| cOlrditioa Of their 1f.,irs is to BE- made by q
person sppoinssI br the Hnvcfnmens.
Payments, transfers, Asssnmenis, z1eTtgz-
ges. dcposiis, oF any acss Prej4dleisi Re ertdi-
tors d,le il contemplation VI inso TtEcy, ant
leclar,I voii. litse,e-s are rrpiigsd. 70 bt
swpra offcrrs, and 10 sci uadeE oalh.
Auple provisions preeet associations in
tue SAeici.s Of AL c,.stosa=ry Prwer' s>ad PRIV
iicges pysiai:g to ltz.isAats bai.Aisg. Theil
old and worn or mn;iat.d notes sre constant
ly renewed by the ti~Yernnens without cost
Iusgrs.t npnp h0nil+ 1sposit@d by lhe 6Alk;
as slturiiy Tor lhe circu2tisn furnished. IS :,
be paid 70 the,a setsi-ananllly. in gold Iht
known aud wiifgl violation al ANY provisions
by Which se banks are ~, be g,,v.ruri l.
pauishel hy Forfeiture Of the charter. anl an
pie prnal provisions psniecl thcm rom ijhiy
by prescribiHg punisii acnt for theft, couiser
ftiting. forgery, aud e;her tougs cJmmitie,
against taCin. -