The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1873-10-27
INCoRpoRATToN OF BANKS,


INCORPORATION OF BANKS. S.
The Act approved April 5, 1879, amend
II ing and reenacting certain sections Q
chapter fifty.four oi the Code, concerning
the incorporation of joint stock compan
les, omitted the clause providing ior IN
incorporation OF savings Institutions, arI
banks oi discount and deposit. Applica
tions have been made to the Secretary o
State for charters for banks OF discoun
and deposit, but for the reason stated b
did NOT feel authorized to issue charter
to them: 70 49,, . =
This was an omission which I was In
formed was intended 10 be supplied by
special act, in relation 10 banks; but 10
some reason no such act was passed. Thi
subject seems 10 demand your early al
tention. Banks are quasi public institu
tion,, and such conditions should be i'm
posed in their charters as will afford pro
lection to those doing business with them
To this end they ought TO be required I
make and publish either quarterly or semi
annual statements OF their condition. Al
though the Constitution authorizes tn
charter OF banks Of issue, 1t would be un
wise and unfortunate at this time TO pro
vide for the organization OF such banks
The country has witnessed several fnan
cial revolutions heretofore, owing, princi
pally, to the initiation Of paper currency
That this is one OF the causes OF tht
present disturbance In money matters,
do not pretend TO say; and 1t Is not thl
purpose of this paper TO discuss questions
Of general policy. But l think 1t doubt
lul whether we shall ever have o solit
and durable system OF finance until money
shall become the currency OF the great
body OF the people, and the use Of note!
and bills shall be confined 10 the classes
who need and must use them.
If banks are not 10 bo permitted to issue
notes to circulate as money, there Is
stronger reason why other corporations
and individuals should be prohibited from
issuing notes, whether payable in money
or goods, as substitute for money. Ii
times like these, where a large amount o.
money is Withdrawn from circulation
there is q strong temptation to supply its
place with paper of this character The
laboring class Of people suffer most from
such issues; necessity cOmpels them to
accept them as wages for their labor, and
they cannot help themselves; therefore
the law ought TO afford them protection
against such system.
FREE SCHOOLS.
The State Superintendent OF Free
Schools, has, up 10 this time, received but
seven reports from County Superinten.
dents, and consequently is now unable to
make report TO me. g.
can, therefore, only speak in gener 81
terms Of the public schools. At the elec.
ton held In August last, so ier as the
State Superintendent has Information,
there were two districts in the State that
did not vote for the levy Of taxes Tor the
support OF schools-one In Boone and one
IN Mineral. In the district in Boone it Is
said that the vote was given under some
Of the facts, and in the
district In Mineral no election was held.
This universal assent on the part OF the
people has finally settled one Of the most
vexed questions connected with the school
system, and has placed 1t on iar more
durable basis than before. And ! think
the result of the election will be greater
efficiency and economy in the system.
While there are some provisions in the
School Law that think could be changed
to advantage, yet In the absence Of intor-
nation as to the practical operations Of
the new law, l am not prepared 10 re.
commend any changes therein.
A law like this, in which every citizen
Is more or less interested, and which ought
to befamiliar to all, should be subject to
as few changes aspoSsible.
From the report made to me by the
State Superintendent oi Free Schools, nm
der the provision Of section seventeen, ar.
ticle z Of the Constitution it appears that
The disbursements Of his Office during the
ast fiscal year were as follows:
For salary Of Superintendent 81, ,0SO.7O;
Tor salary Of Clerk $S0S 90; for contin.
gent expenses $S,710 81; for salaries OF
County Superintendents S., ,1S2 07-mak-
ing total Of $l9,3s2 IA for the year.
There has been some difficulty In exc.
cutting that part OF the law which requires
The appointment Of two examiners who,
together with the State Superintendent
constitute State Board OF Examiners,
from the fact that no provision was made
Tor their compensation or expenses. /
presume this occurred through inadvert-
ence. recommend that you fix a reason
able compensation TO be paid the exami-
ners; and authorize the payment OF their
actual expenses. This system OF exami-
nation Is an admirable feature Of the
school law; and will tend greatly to elevate
the character OF our schools.
9THE JURY LAW.
The Jury law needs remodeling. 1t is
unsatisfactory, and attended
with much expense. While 1t Is true the
counties differ materially In population
and wealth yet this fact Is hardly asufti.
cient reason why different modes Of OBJ.
tanning juries should be permitted. What
ever plan may be adopted It should be
uniform throughout the State. = =
Section 3 Of this law is as follows: I'll q
case Of ielonyibe for trial in circuit
court, the clerk thereof shall issue o
renire taeids to the sheriff of The county
commanding him 10 summon twenty.iour
qualified Jurors to attend said court onthe
first day Of the term, which jury the
court may at any time in Its discretion dis
charge."' Tho construction generally
given to this section Is that there must be
q centre for each felony, case for trial.
II there are five felony cases on the
docket, there must be one hundred and
twenty jurors summoned In addition TO
the grand jury, and the regular PANEL or
petit Jury. This Is heavy burden upon
the counties, and 4 know no substantial
reason why Il should be continued,
Tho general plan laid down in the Code,
for getting juries Is perhaps the best that
can be adopted. The number Of jurots
required by the Code TO be drawn and
was perhaps larger than the
business Of the majority Of the counties
justified. This number can safely)he d.
minished II the power Is retained in the
courts to order larger number summon.
ed when necessary. LL-lsis,l.,