The Montgomery advertiser., 1901-06-21
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yesterday TOT the report or the com- mittee. The substitute disqualifyins General Assembly where the office was created during the term for which they were elected or where the emoluments were increased during their term.
 Mir. Waddeli--T rise to point of or. der.
 The President-State the point.
 Mir. Waddell-We are now consider ing the sections of this article gener- ally and we cannot consider them until they come up in their regular order.
 The President-The point is well taken.
 MT. Fletcher-I desire to make rei port from the Committee on Banks and Banking. It is a short report.
 The President-The gentleman from Madison asks unanimous consent to send up a report from the Committee on Banks and Banking. Is there ob- lection? The Chair hears none and the gentleman will send up the report.
 MT. Samford--I move that the read ing of the report be dispensed with. It will be printed and put upon the desks of every member in the morning. Mir. Brooks-L would ask the gentle man to withdraw that motion mo- nent merely to enable me to say that  brief and it is we'll to have 1t read so that members can think over 1t.
 Mir. Samford-If anybody wants to hear it Jet it be read.
 The report was read as follows:
 Report of the Committee on Banks and Banking:
 MT. President:
 The Committee on Banks and Bank ing have instructed me to make the following report, viz: That they have examined all the or dinances and resolutions submitted to them, and without passing upon them separately will say they have embraced the substance of some of them in the article herewith submitted.
 That they have adopted the entire subdivision vn banks and banking as it appears in Article XIV of the Con- stftution with Section added.
 A. S. Fletcher,
 Chairman on Banks and Banking.
 ARTICLE XIV.
 Section 1-Sub. Div. Banks and Banking. The General Assembly shall not nave the power to establish or in corporate any bank or banking com pany or money institution, for the pur- pose oe issuing bills of credit, or bills payable to order or bearer except un- der the conditions prescribed in this
 
 Constitution.
 Sec. 2-No bank shall be established otherwise than under a general bank ing law, nor otherwise thhn upon specie basis.
 Sec. 3-An bills or Dotes issued as money shall be at all times redeem able in gold or silver and no law shall be passed sanctioning directly or Indirectly the suspension of any bank pr banking company of specie payment. Sec .4-Holders of bank notes and de- positors who have not stipulated for interest shall. for such notes and de- posits. be entitled in case of insolvency to the preference of payment over all other creditors.
 Sec .5-Every bank or banking com pany shall be required to cease all banking operations within twenty years from the time of its organization (unless the General Assembly shall ex- tend the ftinfej and promptly thcreaf- ter close its business; but shall have corporate capacity to sue and shall be liable to suits until it's affairs and lia- bilities are fully closed. Sec. 6-No banks shall receive di- rectly or indirectly a greater rate of interest than Shall be allowed by law to individuals for lending money.
 Sec. 7-The State shall not be a stockholder in any bank nor the credit of the State ever be given, or loaned, to any banking company, association or corporation.
 Sec. 8-The General Assembly shall by appropriate laws, provide for the examination by some public officer of all banks, and banking institutions and trust companies engaged ill banking business in this State.
 Mir. Samford-That is printed without motion.
 The President-Under the rule. 1t lies over one day and will be printed.
 MT. Samford-If I recollect, the con tinuing order was the consideration of the clause in the Article on Executive Department, touching the great seal of Alabama.
 Mir. Jones (Montgomery)-Will the gentleman yield so that I can make a further report from the Committee on Executive Department?
 MT. Samford-Does it relate to the seal?
 MT. Jones (Montgomery)-No, sir. Mr. Samfofd-Then won't you wait until I get through? Although if you insist on 1t, will yield.
 MT. Jones (Montgomery)-No, won't insist.
 MT. samford-Then on the pending matter, I demand the previous ques tion.
 MT Long CWalker)-I make the point there is nothing before the House, and the gentleman is not in order.
 The President-The question before he House is Section 22, reported with a substitute, and there is an amend ,ent offered to the substitute by the ntleman from Chambers, which was I'd just as the Convention adjourned, q the question will be on the amend nt of the delegate from Chambers. 1T. Boone-I move to table both sub ute and amendment, IEe President-The gentleman from te moves the previous question. r. Samford-Yes, my object was to | vote. he President-And the gentleman | m Mobile moves to table the substi- | e and amendment. MT. Long (Walker)-I make the point | order ts,at the gentleman from Pike | was out of order because at that time | there was nothing before the House. The President-The point of order is | not well taken The question had been | stated when the House adjourned yes terday afternoon.
 MT. Long CWalker)-What is before the House nowG
 The President-The motion of the gentleman from Mobile to table the substitute offered for Section 22, and the amendment offered thereto by the from Chambers.
 Mir. Long (Walker)-Does that carry with it the report of the committee? The Presidential carries with it the