The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-12-03
BERNER'S NEW BANKING BILL.
MEASURE INTRODUCED IN THE UP
PER HOUSE.

II Provides For the Issuing of Cur
rency Obligations by the State
Banks to so Per Cent. of Their I'm
impaired CapitaI-The Bill Drawn
on the Lines of the Plan Advocated
nv Hon. L. f. Garrard in His Speech
Before the Legislature.
Atlanta, Ga, Dec. 2.-President Berner
introduced a bill in the upper house this
morning which seeks to carry into effect
the scheme of Col. L. F. Garrard, who adj
dressed the legislature last night, for the
operation of state banks without the pay
ment of the federal tax of 10 per cent,
which is a prohibitory tax. If the bill
should become a law, it would, it is claim
ed give Georgia a new banking system. 1t
is. therefore, a very important measure.
especially as President Berner. a possible
candidate for governor, will do his best to
have it passed. 1t provides: From and
after the passage of this act any state
bank now existing under the laws of the
state of Georgia, may make, sell and de-
liver to any person or persons who may
purchase the same, the obligations of said
sire, said obligations to be signed by such
officer of said bank as may be designated
by it for that purpose, and be directed to
such other officer of said bank as may be
selected by it.
Said obligations shall be payable to
person or persons purchasing the same
or bearer, to the amount named in said
obligations in merchandise, or silver bull
lion at retail.
Said obligations shall not be less than
~ inches long and 49, inches wide and
shall not be made in similitude in color or
design of national bank notes or federal
currency, and shall be so printed or en-
graved as to be easily distinguishable
therefrom.
Said obligations shall not be issued by
any bank to an amount greater than 90
per cent of the fully paid up unimpaired
capital stock of said bank
Section 2 creates lien upon all property
of the bank. real and personal, for the
payment of the above obligations, and this
lien is made prior to any judgment or de-
cree or any other lien whatsoever except
state, county and municipal taxes.
Section reads: whenever the presi-
dent of any state bank shall notify the
governor that any tax whatever is sought
to be enforced against said bank by rea-
son of said bank having taken advantage
of the provisions of this act, it shall be
the duty of the governor to at once in
struct and require the attorney general of
the state of Georgia to take whatever le-
gal steps may be necessary TO prevent
said bank from the payment of said tax"
Senator Carriers bill providing that tale
jurors shall be taken from a regular panel,
instead of from among bystanders in the
court room, provoked a discussion, but
was finally consigned to death by talking.
The following bills were passed by the
Senate:
Mr. Boifeuillet's resolution subscribing
for 1900 copies of the Georgia form book
by James Fl. Blount, Jr
MIR Calvin's bill making women eligi-
bic as assistant physician at the lunatic
asylum upon competitive examination.
A number of important new bills were
introduced, among them the following:
By Senator Battle, to require all guar
antee companies, surety companies and
fidelity and deposit companies signing
bonds as surety or guaranteeing the pay
ment of debts or doing a similar busi-
ness in this state to make a deposit of
certain funds with the state treasurer.
By Senator Walker, of the Eighteenth
district, a bill to make women eligible
as county school commissioners and clerks
of commissioners of roads and revenues.
BY Mr.. Hopkins, to elect the county
commissioners of Thomas county by vote
of the people.