The Pickens sentinel. [volume] (Pickens, S.C.) 1871-1903, 1893-12-21
NO. H..
o'ATE BANK TAX,
'''' o' Tho sub-Committss,s P-ono
Blll for It's Rspea,

VINO ouh-Committee's Proposed
Bill for It's Repeal.
con' m',A1N;SsnllNdToN, Dec. l4.-Tbe su,,
n,,n'1'ee Ho;n,n1 g., on banking aud currencv von ~
~ 'uSo0 Iho - consider legislation reiotipo
H,o,, v.iI repeal OF the 10 Der cent tos
cano, "ppn 2tate oaEk issues reported 70 tha
EoInn!ltee GlTl today that it had adonte1 ~ th tie
',h,I'"nS 'Ia as the provisional ontlina VIC ne
.mG SSuGral features of a bin wh,cI, " ~
proposed to draft: '''' "l'cn IL
Hecron |. The tax Of IN nou
asH'isI pate bank notes, &C.. Maid S1u. n'.
ana used aa currency, is repralsd SN'' ou'
9Sc' = Except as below nror;a.,
no oIalc 31nk notes, &C., shall be ; noIS;
Out aNd use! as currency outside oftHo Pnao
HIa'c oi Their issue, except subject tn o
p@halIY Of 10 per cent. each lime no;S W :
| Out. ''ti0 pau
~ ~ B' 1t IS not expected that tbis
penalty would be generally colIec;aJ
any more than is the tax imposed bv or
present law; bat rather that, az fast 90
tie p:ohibucdnotes ca he into tbe hands %
or responsible, parties outside of tho
ga. H.u'E .. '4etr issue, the penalty on pay.
ing then out VIII cause them to be pro.
perry returned Tor redemption and thus
issue. 'A 'i'0ii
Sec: 3. state bank notes NAV be
pad out and used as currency (outside
OF the State Of their issue) on Compliance
with the following: '"-'o
"(A) Blank nOlcs 10 be furnished and
issue 10 be registered by the Comptroller
OF the CURRENCY and to be of SHARPLY
destructive design so as to show On that
they are State bank notes; (2) the State
of their issue and CD under which sec.
ton OF this aCt hey are issued.
"(B) i pks ia-uiIg such notes to be
subject to l:spec:.'r b.; the Comptrol-
!cr OF the CurreuCj, ~'H'l.r TO that now
provided for national bIuNs, but (except
as to (C) below for purposes G.? nnhiic
information onlY-thc Comptroller hav.
ing no general supervision of the affairs
OF the banks.
"(C) Outstanding notes of each bank
TO be limited to IS per cent. of paid up
and nnlnp .ired capital.
"(D)" State bank notes 10 be made
by States OF issue first lien on allassets
OF issuing bank and a liability against
sIcciAOlderS to an amount equal 10
LIit.t ~ CN Ill dUllJlOn 10 -.
"(E) An assessment OF one half per
cent. TO be paid on tlkjng out crcula.
ton, and and also on oil circulation our.
standing more than q year 80 long as
and whenever necessary (A) to keep
good guarantee fund OF at leat 3 per
cent. OF outstanding circulation for ulti.
mate redemption Of notes and (B) d
meet expenses not covered by penalty
receipts under section 2, above.
Sec. 4. State bank notes may also
be paid out and used as curren " tout.
Side OF the STATE of their issue) on com.
pl"ncc With (A), (B), (C) and (D) of
secLlon 5 on deposit with the CompLrol.
Ter Gas security or ultimate re lemption
"i noics) o. United States, State, munich.
pal. Sc., securities to amOnr. - r. ~o
IluLrs " 10 ioouUu-Jne character OF
securities permitted % be trctly pre-.
'cribGd in this blll."
'lt must be unders' BOD says the re.
'ort, that no mcnDer of the sub commit.
cc Is personally committed to any Of the
'clnlI8 outlined above and that this SUBJ
committee is not ready to make final
epot, but simply presents this 8 ate.
nenL OF tho progress Of its work for the
ntormaLiOn OF tho full committee and in
he hope to proliLly the discussion by it of
li23U or other points III this connection ~
indicated
COLrMBIA, $. c., Dec, Dec. 13.-In
October, 1891, when l.. -. GJllard, who
al been treasurer Of Sumter County.
'enJ to have settlement with the
comptroller General he was found to
e i deialllter for little over $500.
men ne could not account for. Mr..
ames Norton, clerk Of the ComptroI-
r General, who made the settlement
as satisfied at the time that the de-.
"cAIioh was due to no criminal act on
ne part or Mr.. Gaillard, but wa3 due
G.!relcssneSs or accident. Mr.. Gail
'ru was gwen time and in a few
lohluS made the shortage good. Since
laJ time he has been induStriously at
0rk trying 10 discover how the short.
60 occurred. lie has succeed In find.
~ vouchers to the amount of S83f;
MCl have been checkel / off and al
WED by the Comptroller General, and
Ith the assistance Of Mr.: Norton Mr..
Mliard has gotten his claim approved
y the Ways and Means Commfttae
ld This money will be refund( to.
I'M, This amount leaves but q small
llancr, about $50 against Mr.. Gail.
rd. which Nr. Norton says often oc.
lrr9 III making settlements with
ounty Tre"Surer3 through accident in
10 way or another. The above not
NY restores to Mr.. Gaillard his money
1t completely Vildicates him from
~ suspicion even of wrongdoing,-
cRl5L"r.
\ 0uardruPle Lynching.
HIKMiNGHAH, Ala, Dec. ia
port has just reached here from Selma.
ll.. of 81 QjaJrop nIa Iupnb,,c, ,,L; =,