Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-02-17
AS no SrATE RANKs

Austin. Tex. Feb 10. Especially
The question Of the amendment OF the
state constitution so as TO permit the es-
tnbhshment OF state banks Is coming
most strongly to the front each day.
Almost simultaneously the senate and
house committees on constitutional
amendments submit favorable reports on
joint resolutions providing for the amend
meut of the constitution 80 as To permit
the establishment of state hanks.
lu the senate state banks are favored
which shall not be permitted to issue
bank notes while Ia the house note issu-
ing banks are called for
The sentiments of each body ON this
subject are embodied I'm the measure now
being worked ON la euch end Of the capi-
/ toll On this difference Of opinion a warm
encounter is anticipated
Ia the senate the huuk resolution was
Introduced by Senator lpster. aud for
hreyity aud straight from.the- shoulder
I business emphasis it is model of it's
/ kind
/ Il is here appended iu full
BE 10 resolved by the Legislature Of
+ the state of IcXas, That section 10,
article i6. of the constitution vi the
/ state of Texas hc -o amended aus TO hero
1 after read us follows.
/ Corporate bodies may hereafter De
fcharterd to engage In general discount
q
Z not De- permitted 90 ISSUE money, aud the
Legislature shall pass laws for their rcgu-
lation aud control
in the house IL takes freer psc of
language and a more liberal spriuNiug
Of sections and paragraphs TO set forth
their ideas as 70 the powers aud pnyil'
eyes. the regulation aud restriction which
should be- festooucd upon the banks The
delegation to the banks, Of the authority
10 issue bank notes calls for the most
Of their amplicati0n.
Herewith appears the house rcsolu
ton introduced by Representative Moore
BE it resolved by the legislature OF
the state of Texas. That soc
don lG article rs, of the con
sutution Of the state of Tcyes be- amend
/ ed as Go hereafter read as follows
Section lG. The legislature of IN,
state Of Texas may authorize the crua
ton of banking corporations with poWC
90 establish and maintain huubs Of dc
post, discount aud exchange. and bank
with authority 90 issue and virrulut
hnuk Gutcs, and tie legislature shall pru
vide for the inspection and examination
of such banks aud banking corporations
provided that such bank corporation a
may issue bank notes shall dcposi
with the TREASURER OF the state OF Texa
bonds of Incorporated towns o
cities or counties Of the stat
Of TeNus, OF bonds of the stat
of Texas, on bonds of the Unite
States and tho amount of the bank note
issued and placed iu circulation by AN
such bank corporation shall not nc an
time exceed 80 per cent of the vulu" q
the security so deposited with the trcasul
cr Of The state of Texas, and each sh1r,
holder he amy such bank corporation .ha
zoe liable for the debts OF tho same z
an amount equal tu the par value OF cha
, stock owned hy him In addition 20 hi
, liability on such stock
The stuc banks question Is one whlc
p has long been an issue in the state an
, itB approach hy the lawmakers VIII !
. closely watched. the handling Of the uuc
I ton being SURF 10 furnish nuch of iute
4 est to the uhseryuut public.