Baton Rouge tri-weekly gazette & comet. [volume] (Baton Rouge, La.) 1865-18??, 1866-01-09
MORE REsToRArIoN.

their respective corporators. This is
a matter Of great interest to the citi
zens of New Orleans and of the State
in general. 1t will tend, as we take
it, to replace those banking institu-
tions, after due course of military
liquidation," as referred to in the
General Order, on their original
bases, by removing all the impedi-
mentsGnd disabilities under which
they have SO long labored, and en-
able them to resume the free exercise
Of those privileges, which before the
war facilitated to so great an extent
the operations of commerce. We
presume that this restoration is pre-
liminary to a still farther extension,
which shall eventually place each Of
the remaining banks of the State on
the same footing.
1t is well known fact, that prior
to the commencement of the late war,
the banks of this State were in the
most hourishing and prosperous con-
dition. They were conducted on
principles of security and safety
which commanded universal conf
| dence and carried them triumphantly
through perilous financial troubles.
Their notes, never below par, were
for long time at premium of one
per cent, and their vaults were so
plethoric of bullion, as to require
them at times to limit their individual
depositors Of specie to sums Of ten
dollars. We sigh to think Of. those
golden days when specie was abso-
lutely drug, and paper currency
meant something when "calling a
dollar, q dollar
Things may get back into their
old channel again, but the process
will necessarily be slow and tedious
one; and perhaps not unattended by
one or more financial crises which
shall shake the entire nation to its
center.
But, we are DEPRESSING from the
main object with which we set out
in the commencement Of our remarks,
which was to introduce to our readers
the General Order regarding the
Banks. Here it is, Qeaving out the
formalities of captions and sigma
tures), in full:
|. With the exceptions and subject to
u,
control Of the following named banks and
banking associations, and their assets. will
be restored to their corp0ratorB, and the
military liquidation now in force will
cease
The State Bank Of Louisiana.
The Bank Of Louisiana.
The Crescent City Bank.
The Bank Of New Orleans.
The Merchants Bank
IL. An election will be held on the 4th
Monday Of January, instant, between TIE
hours Of 10 o'clock, A. M. and II O'Clock, NJ,
at the banking house of each Of these in
stituiions for Board of Directors The
election will be conducted in strict accord
ance with the laws Of the State and the
charter or articles Of association of each
corporation, under The direction Of inspect
ors to be appointed by these headquarters
III. The directors elected will be vested
with the control Of the bank, for which
they are elected, on fulfilling the require
meEts of this order mud the laws of the
State; and report Of the result Of the cleo
ton will at once be made to these head
quarters.
". The military liquidation, now in
force, will continue until the directors shall
comply with the provisions of this order.
v In transferring the control of these
banks no right or interest Of the govern
ment is relinqnished, but all its rights in
any cotton purchased by the banks during
,he rebellion, aud in all bonds, or stocks,
ssued by State, municipal, or parochal
in furtbcrance Of the rebellion.
IRE expressly reserved, aud each Bourd Of
Directors will be required 10 furnish ade-
luate security for the protection Of the
lights of the government.
VI. The assets Of each bdnii will be held {
uhject to the redemption Gifts circulation, .
whether issued pursuant to or in conse-
Iuence Of any military order or exigency,
II in the ordinary course Of its business.
VII. The liquidation will continue under
be Directore and the civil courts of the
tate are prohibited from interfering with I
t in any manner, until after the expiration !
f thirty days from such time as the Na.o 7
] Government may return to the State
uditor the bonds and securities deposited \
0 secure the circulation, and now held by (
be Federal authorities as captured.
VIII. The provisions Of this order rela-
ing TO property in which the Government S
as, or may have, an interest are extended Y
0 and made applicable to oil banks and
anking association in this State. d
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