The Fairfield herald. [volume] (Winnsboro, S.C.) 1849-1876, 1875-02-24
The Bills Of the Bank OF tho State.

Tho Committee Of Ways an,
Means of, the House Of Representa-
dvas presented, on Friday, u bill t,
provide for the redemption Of tn
Bills Of the Bank Of the State, whiol
bill is said 10 have tho sanction O
Govern9r Cha mberlnin aud the At
tdruey.General. The general pro
visions of the bill are as follows
Tie Governor is directed to az
point, before the frat Mouday i.
April next, a commission of the CON
petcut citizens of the State, VIII,
shall ascertain, as far as prnc tioabl,
the whole amount Of bills issued b.,
the Bank Of the State, the amour
issued in aid Of. the rebellion, tn.
amount outstanding, and tho amoun'
of the bills that are valid and sub
si,ti"g obligations of the State
Such Of the bills Us shall bo found
to 10 valid obligations of the Stat.
shall be. stahipod "legal" by tn,
Commission. The Commission shal,
have power to send for persons anc
papers, aud are required to rem de,
final report to the General Assem-.
bley on or before tho fourth Tues.
day III November next. The AT.
terney.9eneral is required to at.
tend the sessions of the Com miasion.
fol the expenses OF which tho sum
Of eight thousand dollais is appru.
priated.
The bills th .t,ehall be stamped US
legal by the Conn,ission are made
receivable fnr taxes, aB follows:
First, for tho redemption of forfeited
lands, second, for taxes past duo ut
tho date Of the passage Of tho act,
provided that the bills shall be ten.
dered OH or before the first day OF
January next. In all bases where;
taxes snail be levied for the sup.
port of the free schools aud for the
payment IF the interest ON the pub
lio debt, it is madc the duty of tho
County TreasArers Ito receive, in
payment Of sach tues, from each
peroon paying the same, oue-Gfth OF
the amount Of his taxes in the bills
Of the Bank Of the State stamped
and attestcd. as before mentioned.
XII ,bills.so received shall be stamp.
cd by the County Treasurers, "Re.
ceived for Taxes," together with the
dato Of tho receipt and the name Of
the person or .persous from whom
received, and the County Treasurors
arc directed to report to the Comp
troller General the number and
amoun5 of such bills so received.
An annual tax of one aHd half
mills is levied for the purpos. of
redoelning the said tills, aud the
County auditors are directed to in.
cludo this tax in their annual levies
for the next FIVE fiscal years. The
proceeds OF the levies are appro.
priated to the redemption of such
bills as may bs received for taxes.
,The.State Treasurer il directed
to demand from the Receiver of the
Bank the sum Of $4G,533 81 In bills
Of the Bank, being the amount taken
by ". G. Courtney, Receiver, il
payment Of notes discounted le"ore
the assets Of the raid Bank became
a fund in equity ; also, any other
bills which may "her.nftor be paid
into the hands cf!'nny Eeeiver in
the said cause. These bills are to
be cancelled in the pre,cnee of tho
Comptrollcr.G eperal. The ;hvldrr
Of prV Of the bills who may .bc ny
grieSah by the action and decision OF
Commission. !eonea' ming the same, 10
givept tlfs right TO proceed by man.
damus, and, il the event of obtain
ing a favorable decrce,, the bills
shall be approved by tho Commis
sion. All the bills not presented
by the Commission bcfole the first
Monday ip Novea Der next are de-
clared invalid, so-far AZ any act Of
the Gcnorat ,Assasuhly may make
them so.--N:Ws and Courier.