Newspaper Page Text
EDITED BY THOMAS HAYNES.
VOL. V. NO. 41.
o[
BY P. L. ROBINSON, State Printer.
Anti Publishi r (by authority) of the Laws of the United Slate,
OFFICK NEAR THE CORNER OF WAYNE AND FRANKLIN STREETS.
ISSUED F.VERI TUESDAY MORNING.
rr TERMS.—Three Dollar* per annum. No subscription taken for leas than a
wear, and no paper discontinued, but at the option of the publisher, until all arrear
ages are paid.
CHANGE OF DIRECTION.—We desire sm our subscribers as may at any
ima wish the direction of their papers changed f $ n one Post Office to another, to
affirm us, in all cases, of the place to which th»A had been previously sent; as the
■M*a order to forward them to a difierant office, places it almost out of our power to
comply, because we have no means of ascertaining the office from which they are
•rderrd to be changed, but by a search through lUr whole subscription book, con
taining sever«u’ thousand names. /
at"the'usua« rates. Sales of LAND, by Admi
■iatrators. Executors, or Guardians ar* required by law to be held on the firetTues
day iu the between the hours of ten in the forenoon and three in the afier
■non, at the Coiilp Ifouse in the county in which the property is situate. Notice of
the.e talcs must in a public gazette SIXTY DAYS previous to the day of
Mie.
Sales of mast be at public auction, on the first Tuesday of the month
between the usual hours of sale, at the place of public sales in the county where the '
letters testimentary, of Administration or Guardianship, may have been granted, first
giving SIXTY DAYS notice thereof, in one of the public gazettes of this State,
and at the door of the Court House where such sales are to be held.
Notice for the sale of Personal Property must be given in like manner, FORTY
DAYS previous to the day of sale.
Notice to the Debtors and Creditors of an Estate must b. published FORTY
DAYS.
Notice that application will be made to the Court of Ordinary for leave to sell
LAND, must be published for FOUR MONTHS.
Notice for leave to sell NEGROES, must be published for FOUR MONTHS
before any order absolute shall be made by the Court thereon.
Notice of Application for Letters of Administration must bo published THIRTY
DAYS.
Notice of Application for Letters of Dismission from the Administration of an Es
ate, are required to be published monthly for SIX MONTHS.
PERSONS indebted to the Subscriber, either by note or ac-
Ifty count, are requested to make payment, without further notice,
to Maj. John R. Anderson. ' B. H. ROBINSON.
MUltdgetillf. October 1. 1838. 38—7 t.
TVOTICE. Moses Murphey, of De Kalb Cotinty, announces himself as a candi
* ’ date for State Commissioner for the “ Western and Atlantic Rail Road’* of
Georgia. Nov. 6,1838. 49—3 t
Scottsboroiigfr Female Seminary.
AN arrangement has been made whereby the two Female Institu
tions in the village of Scottsboro’, will hereafter be united into one
under the sole control and superiutendauce of the subscriber. In offer
ing his service* to the public as an instructor to the female youth of
Georgia, he would remark that several years of his life, have already
been devoted, with success, to the important duties of Female Eciuca
tion, and although the details of the system, which formerly enabled him
to carry to a highly desirable extent, both the moral and intellect
ual improvement of his pupils, cannot be enlarged on here, yet he
feels confident of success in rendering those entrusted to his care, not on- 1
ly useful and virtuous members of society, but its most accomplished I
ornaments. The subscriber is desirous of establishing a school of the
very highest character, and if encouraged by the patronage of the public, ■
be will spare no pains in placing it on such a solid and permanent basis, !
as will be a guarantee to parents, that their daughters will derive every
advantage, both iu the useful and ornamental parts of education, which
any school in our country can afford. The aid of the very best instruc- |
tors, in every department, has be nor will be secured. For the orna- I
mental branches and the languages, the customary extra charges will be ‘
made ; for instruction in all the other branches, the price will vary from j
fifteen to e’ghteen dollars per terns, according to the advancement of the
pupil. Board maybe obtained in several of the families of t‘ie village,
though the subscriber is desirous of teeeiving into his own family, a*
many of his pupils as his house, which is large and commodious, will
contain. The terms are fourteen dollars per month, and all payments
are required in advance. The superior healthiness of Scottsboro’, and
its other well known advantages, must always constitute it a situation
highly desirable to those who send their children abroad to school. In
conclusion, the subscriber, though born and educated himself in the I
Sou h. yet coming as a stranger to this State, until his character as a;
Teacher can be tested by the trial he desires, hogs leave to present the ;
annexed testimonial, signed by members of the faculty ofthe University
of North Carolina. He would also make a reference to all the citizens
of Scottsboro’.
The exercises ofthe school will commence on the first Monday of Jan
uary, though the subscriber will be prepared to receive boarders, at any i
time after the middle of December; and during a short absence, appli
cations for situations may be made to the Hon.'G. B. Cole.
WILLIAM E. ANDERSON, Prin.
Scottsboro*, November Ist. 1838.
William E. Anderson, Esqr.. having intimated to the undersigned a
disposition to engage in the business of female instruction in one of the
Southern States, it affords them much pleasure to be able to testify to
his competency to the task he proposes to undertake.
Mr Anderson i- a tn mherof one of the most respectable families of
this State: anil li ■■ cu'oved -II the advantages incident to our best Lit
erary Institutions ,• d i with cultivated society. He grad
uated nt thi-Uni vr--» |25 and subsequently received the degree of
Master of \rts. lie was for several years advantageously known tn the
public is th.- Principalof a Female School of high character in the neigh
borhood of Hillsboro’. He has uni ormly sustained the fairest reputation
« a gentleman of probity and intelligence; and is particularly entitled
to commenda i.in for conscientious devotion to the general improvement
and spiritual interests of his pupils.
D. L. «WAIN. Prest.
„ £ . LZ , E. MITCHELL. Prof. Chem.
Lniver«itv of North Carolina, ? J. D B HOOPER Prof lat
Sept. 27, 1838. $ W. M. GREEN. Prof. Rhet. * ’
Nov. 8. 40 t f
Oglethorpe University.
THE next term of this Institution will commence on the first Mon
day in Jam ary next, at which lime applications for admission
will be received, and examination of candidates take place.
THE FACI'LI ¥ CONSISTS OF
Rev. C. P. BEMAN, President aud Professor of Chemistiv and Nat
Philosophy;
•• 8. K. TALMAGE, Professor of Ancient Languages;
“ C. M HOWARD. Professor cf Moral Philosophy, Rhetoric,
and Evidences of Christianity ;
N. W. CRAWFORD, Professor of Mathematics.
ThePrimaiy and Academic departments will be under the charge of
Mr R AMSEY, late of Augusta, as Rector, a gentleman of well
known qualifications—assisted in the Classical and English departments
by competent Teachers. The Faculty of the College will exercise a
supervisory power over these departments.
The Students of College will be expected to lodge in the Dormitories.
Ample arrangements are made for boar-ling, &c.
The rule requiring the tuition in advance, can, in no case, be dispensed
with.
By order of the Board.
Nov. 8. 42—2t8. K. TALMAGE, Sec.
A TEA UH ER WAIVTKD.
TO take charge of the Washington county Union Academy, the Ist.
of January next. A gentleman, well recommended as an experi
enced < lassical Teacher, will meet with very liberal encouragement.
For particulars address WILLIAM FISH, Fish’s Store, Washing
ton county. Geo. By order of the Board.
Nov. 15. 43—2 t
COTTON,
C 4 \ RRIED by the Railroad Compay, from Greene’s, eight miles
/ below Greencsboro’ to Augusta.
1 HOMAS DAWSON takes this method of notifying his customers
and friends, that on this day, the Cars will take all the cotton or other
produce, from Mr. Greene's, known as Jeflerson Hall, to Augusta, in
one day. His agent R. J. Dawson, is now at the place and will re
<"ame there for the sole purpose of receiving, marking, and forwarding
“ . || Ol,, ‘'’ an< ! Merchandise, free of charge, to his customers.
I ° ii r *it' 11 •'’* *’ ne ,°l' **** business, directed to R. J. Dawson, at
Jenerson Hall, will receive immediate attention, and be forwarded to
Augusta, and will receive there the prompt attention of the subscriber.
. , „ . THOMAS DAWSON.
Augusta, Nov. 0, 1838. 43 4 t
persons indebted to the estate of Theophlus Mai-
XM son. fate ofWilkinsou county, deceased,are requested to come for
ward am make immediate payment, ami those having demands, w ill
present them duly authenticated, within the time prescribed by law.
Oi-tobei J, (It. ALLEN CANNON, Adm’r.
WOTICE.—WiII he SOM to the hlsSw bidder on the first Tuesday
f I ,ho l C "‘'rt House door in Walker county. Lot
W. lk. N °\ 2 ViV t/'n ‘r* l ‘ e ; ,io "’’ ‘’finally Cherokee, now
Walker county, sold for the benefit of the children of L. M. Robison,
and so.d by order of the honorable the Inferior Court of Washington
theday.” K " M " 1 " g < ’ rd, “ ar y P ur P°»«- Terms made known ou
Nev, 15 43-pt SAMUEL ROBISON, Gunidiao.
Standard of Union.
IIILFFIXaFVIIjLF, GEORGIA, THURSDAY AIORAIAG, IVOVEUBFIt IS3S.
GEORGIA LEGISLATUREi.
In Senate.
The Committee appointed to examine into and report upon
the condition of the Central Bank, submitted the following
Report to the Senate, and also to the House of Representatives,
which was read and ordered printed by both Houses :
■ To the Honorable,
The President and Members
Os the Senate of the State of Georgia :
The Committee appointed under a Resolution of the Legis
, lattice, approved the 30th of December, 1837, to examine into
and report upon the condition of the Central Bank, met on the
17th of September last, and entered on the discharge of the
duties required by said Resolution )uand having examined into
1 the state and condition ofthe Institution, from the 27th of Jan
uary, 1829, (at which time its operations commenced,) to the
r sth of November, 1838, inclusive* report the following as the
r result of their investigations :
From the books of the Bank, it appears that the Capital
Stock, on the 27th of January, 1829, consisted of the following
items, viz:
Stock in the Bank of the State of Georgia,.. $500,000 00
“ “ “ “ Augusta, 100,000 00
“ “ “ “ Darien, 325,000 00
“ “ Planters’ Bank of Georgia,. ... 80,000 00
Bonds, Notes, Sic. received from the State,.. 355,597 90
Cash turned overby the Treasurer to the Bank, 513,101 77
Making $1,873,699 67
Thecapital was increased in 1829, $53,617 22
“ “ “ “ “ 1830, 165,227 65
“ “ “ “ “ 1831,169,028 78
“ “ “ “ “ 1832,127,019 26
“ “ “ “ “ 1834, 152,020 79
“ “ “ " “ 1835, 53,299 32
2,593,912 69
The capital was diminis’d in 1333, $54,879 86
“ “ “ “ “ 1836, 78,789 41
“ “ “ “ “ 1837, 336,469 38
“ “ “ “ “ 1838, 344,257 65
LeavinglheCapital Stock,on sth Nov., 1838, $1,779,516 39
The follow ing statement shows the annual distributions made
to the Citizens of the State on accommodation Notes—the pro
fits which the Bank derived from discount on Notes and Bills
of Exchange, and hack Interest on such as were not paid at
maturity—lnterest on Bonds, Notes, Sic., received from the
' State—Dividends on Bank Stock—and Preminin Account—
I and the annual Expenses of the Bank, including the salaries of
its officers.
”2 gTKgg ==========!=== H ===
£ ?32. c '°‘o sS2 82. Premium Acct.
£ <sg”' • a. O 3
= :_ 3 _e 2 ?a 3 • o -O £ 2 :
: : Big.® M? ? 2.2 : » E : a :
: :si S If- : I : : | •
In 1829, $-100,000 17,797 59 ! 11,917 53....1! 5,951 39
“ 1830, 200,000 42,514 83 8,580 47 30,400 0011 8,581 20
“ 1831, 300,000 54,808 45 5,176 59 65,300 00 I j 7,859 48
“ 1832, 300,000; 60,217 69 5,438 1 6 69,850 00i| 8,102 94
“ 1833,1 200,000 i 59,560 31 2,059 34 51,475 001| 9,095 14
“ 1834,: 300,000: 05,779 78 5,536 78| 88,900 00 !! 11,787 83
“ 1835,i 300,000! 67,195 69 686 28 73,950 00 1 I 10,664 31
“ 1836,1 300,000; 67,459 26 330 68; 99,786 921 1 10,354 21
“ 1837, 1,350,000! 145,088 08 936 84! 63,449 00185 87; 3,806 03 12,854 94
I “1838,| 103,624 22 199 89 107,100 00 108 87| 5,688 19 13,297 06
.I $3,650,000| 684,045 90l 40,892 56! 650,210 92 294 71 9,194 22 98,54(1 00
The large distribution in 1837, was made in expectation of
receiving the whole amount ofthe Surplus Revenue ofthe Uni- I
ted States apportioned to this State, which would have been !
more than sufficient for the purpose; but the Fourth Instalment
having been withheld, the sum of $380,000 was obtained from
different Banks in the State, out of which the amount requisite
to complete the distribution was so applied. The $380,000, ;
with the Discount or Interest thereon, has been paid to the
Banks from which it was obtained, during the present year.
No Premium Account appears to have been kept until 1837,
in which year the receipts on that Account amounted t 053,991
$3,991 90; and in the year 1838, to $5,797 06.
The state of the Bank, made tip to the sth of November,
i 1838, which is herewith submitted, corresponds with the books
of the Bank ; but the Notes discounted exceed the amount
called for by the books, $1,070 31. This discrepance (which
was much greater when the present Cashier came into office,)
is supposed to be in the accounts of attorneys, in whose hands
notes have been plat ed for collection, and that upon a final set
tlement with them the amount ofthe notes and the amount called
for by the books w ill agree.
The condition of the Bank on the sth November, 1837, may
be thus stated :
AMOUNTS DUE BY THE BANK, VIZ:
Capital Stock $1,779,516 39
United States Surplus Revenue, 1 051 422 09
New York 12 months Loan, 300*000 00
Free School and Education Fund, 10*400 00
Due other Banks on Loans and on Account, 125* 192 22
Depoftite Account, 254 519 34
Central Bank Notes in circulation, 00
Profits, after deducting Expenses anti other payments required to be
made out of them, 26,657 88
. L
AMOUNTS OWNED BY THE BANK, VIZ;
Bank Stock $1,005,000 00
Bones, Notes, Sic.., received from the State, 181,221 10
Stock iu Brunswick Railroad and Canal Company, 43,500 00
Notes Discounted, 1,817199 90
Bills Discounted, 134 421 61
Protest Account, 156 00
Due by other Banks, 28 961 91
Gash—tn Specie and Specie Certificates, 97’,039 40
tn Notes and Checks on other Banks, 304,590 00
$3,012,089 92
The Committee are of opinion, that the aftermentioned
amounts, of the property owned by the Bank mentioned in the
foregoing statement of its condition, are entirely unavailable,
and will be eventually lost to the Bank, viz :
Ofthe iiem denominated Bonds, Notes, &c.,
received from the State, the sum of $146,280 55
Os Notes discounted, the sum of 1,619 98
And Notes ofthe Bank of Macon, 294 00
$118,194 53
In addition to the liabilities of the Bank, as shown in the
foregoing statement of its condition, the appropriations for 1837
and 1838, yet subject to the warrants ofthe Governor on the
Treasurer, ami for which the Bank, by the appropriation acts
oi those years, is required to provide payment, amount to about
the sum of $525,000. The Committee are of opinion, however,
that the w hole of ill’s amount will not be drawn for, and that
part of it may be met by moneys paid into the Treasury.
It will be seen by the state of the Bank herewith submitted,
that of the whole amount of Notes and Bills discounted, viz.
$1,951,621 51, those lying over amount to $575,102 27, and
those in suit to $82,647 57. Os those lying over, it is confi
dently expected a very large proportion will be renewed during
the sitting of the Legislature.
It may, perhaps, have been expected that the Committee would
express some opinion as to the solvency ofthe makers and en
dorsers of the Notes ami Bills of Exchange. Much the greater
number of them are unknown to the Committee, and of such
they cannot and ought not to express an opinion ; but the Notes
and Bills, the makers and endorsers of which are known to the
Committee, tire considered by them to be generally good.
On an examination of the books of the Bank, the Committee
find that a personal ledger had been kept until the middle ofthe
year 1836, when it was discontinued by the (hen Cashier. The
general ledger was regularly posted and balanced during the
1 continuance in office of Mg Malone as Cashier; since that time
Our Our Country—-Our Party.
this book (and, in the opinion of the Committee, a very impor
tant one,) was discontinued until the present Cashier came into
office. When the funds of the Bank were turned over to him,
he had to take the list of balances reported to him by his prede
cessor, as correct. He carried them into a general ledger, and
. since that lime this book has been regularly kept and balanced.
The Committee consider it important that the discontinued
general ledger should be brought up, and recommend that a
competent person be appointed forthat purpose, whose services
may be dispensed with after this duty is performed.
The Committee recommend also that a personal ledger be
in future kept. If any of the books of the Bank are to be
abandoned, they consider it far better that the credit book
• should be, than the personal ledger. Both, however, might
1 be continued by the appointment of another officer. All which
1 is very respectfully submitted, by
THOMAS STOCKS, )
GEO. H. CLAYTON, \ Committee.
WILLIAM Y. HANSELL, \
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The following Bills were introduced in Senate and Ordered
to be printed:
A BILL.
To be entitled “ An Act to expedite and facilitate the collection
ofßank notes, and to compel the chartered institutions of this
State to pay their bills on demand.”
Section 1. Be it enacted by the Senate and House of Re
presentatives of the State of Georgia, in General Assembly met,
and it is hereby enacted by the authority of the same, That
from and immediately after the passage of this act, it shall and
may be lawful for any person bolding a bill or bills on any of
the chartered institutions of this State, upon making oath before
any Judge of the Superior Court, Judge ofthe Inferior Court,
or Justice of the Peace, w ithin the County where the Bank is
located that issued the said bill or bills, that he, the holder of
the said bill or bills, has presented the same for payment at the
Bank where the same are made payable, and that payment has
been refused, to demand of said Judge or Justice, a precept ad
dressed to any officer of the Bank aforesaid, commanding him
to come before said Judge or Justice w ithout delay, and answer
the plaintiff’s demand ; which said precept, so applied for, the
Judge or Justice shall in no wise refuse or delay, and the same
being granted, shall be served instantly by any sheriff or consta
ble ofthe county to whom the same may be delivered. -
Sec. 2. And be it further enacted, That upon the service of
the precept, as provided for by the first section of this act, it
shall be the duty pf the officer of the Bank to whom the same
may be directed, to appear before the Judge or Justice afore
said, and make his defence ; and on his failing to do so, the
said Judge or Justice shall, on the same day, enter up judg
ment for the plaintiff, and issue an execution, requiring the sher
iff or constable, as the case may be, by levy and sale, to make
the amount of said execution, and return the same to the office
of such Judge or Justice, by or before the hour of twelve, meri
dian, on the next day.
Sec. 3. And be it further enacted, if the officer ofthe
Bank shall appear and make his defence, the case shall be tried,
subject to the same rules and regulations as govern trials in
actions of debtor and assumpsit; except that no delay shall be
had unless the party defendant will plead that the bill or bills
were not made by the Bank, or that the same were not present
ed for payment, which plea shall in no case be allowed, unless
the same be made on oath ; but in no case shall any case be
continued beyond the day from its commencement.
Sec. 4. And be it further enacted, That if any officer of any
chartered institution of this State, shall at any time be called on
by a sheriff or constable, having in his hands an execution
against the Bank, to point out the assets of the Bank, that the
sheriff or constable may levy on the sume, and shall neglect or
refuse to do so, the bank officer so refusing shall be considered
and taken to be in contempt of the Court issuing the execution,
and the Judge or Justice shall in no wise fail to imprison said
bank officer, until he shall have purged himself from said con
tempt by pointing out the assets of the bank as required.
Sec. 5. And be it further enacted, That no Bank or char
tered institution of this State, shall, by any officer or officers
thereof, count out to any one individual, on the same day, any
sum over the amount of dollars, in change or parts of
dollars. x
Sf.c. 6. And be it further enacted, That no Bank or char
tered institution of this State, shall, by any officer or officers
ahereof, count out, in silver or in gold, less than the size and
value of a halt eagle, to any one individual, on the same day,
tny sum ovt r the amount of dollars, but that
wherever larger amounts are demanded, than is provided for
by this and the fifth section of this act, thesum shall be weighed,
so that the parties applying for the payment of bills shall not be
delayed.
Sec. 7. zfrnZ be it further enacted, That from and after the
passage of this act, no bank shall issue any bill or bills, or ac
cept any draft or cheek for a less amount‘than dollars,
or shall permit any officer thereof to issue any bill, order or
check,or receive, or accept, or pay any draft, order or check,
for a less amount than dollars, unless in every instance
the whole and every part thereof be executed bv writing with
pen and ink.
Slc. 8. And be it further enacted, That either party may
appeal from the judgment of the Judge or Justice, by paying
the cost and giving security for the eventual condemnation
money ; and on such appeal being entered, it shall be the duty
of the Judge or Justice to cause the sheriff or constable to bring
in a jury of five men instanter, who shall try the case on the
same day in which it was commenced.
A BILL,
To be entitled An Act to prevent fraud in voting for Gover
nor, members of the Legislature, Members of Congress, and
County officers throughout the State.
Whereas the Legislature is frequently called upon to inves
tigate the validity of elections of her members, and the election
of Congressmen and County officers, are often protested
against, and the parties pul to a great deal of trouble and ex
pense in ascertaining the correctness with which elections have
been held, and oftentimes the truth cannot be attained; there
fore, the more fully to obviate this difficulty,
Be it enacted by the Senate, and. House of Representatives,
in General Assembly met, and it is hereby enacted by the au
thority of the same:
Sec. 1. That the managers in all elections to be hereafter
held, shall be required, in addition to numbering the natrte of
the person voting, also number his ticket, so that the ticket may
be known to a certainty, if doubted.
Sec. 2. That the managers of the Precincts in each and
every County, shall preserve the tickets and seal them up in a
paper, and, together with the list of names and tally sheets,
deliver them to the managers at the Court House, who shall,
after counting out the tickets received by them at the Court
House, also seal them up in paper, to be by them kept in that
situation for four days, at the end of which time, if there is no
objection to the validity of the election, they shall make out the
return, and sent it on as at present to the Executive.
Sec. 3. Should any candidate be dissatisfied at the event,
and should dispute the qualifications of any of the voters, the
managers at the Court House shall proceed to investigate the
validity of the vote or votes disputed, and shall sit and hear the
testimony produced by the parties in the case, if the application
be made before the end of the fourth day; and the party dis
satisfied must give the other party notice of the time the trial
is to be had ; which trial must be had on or before the tenth
day after the election was held.
Sec. 4. And he it further enacted, That if the managers
should find any votes to be illegal, they shall throw them out of
the calculation, and they shall report the person duly elected
after they have purged the polls. And all laws and parts of
laws, militating against this law, are hereby repealed.
House of Representatives.
Mr. Howard introduced the following Preamble and Reso
lutions, which w ere ordered printed.
W IIEREAS the question of dispensing with Banks as the agents
of the Government in the collection and disbursement of the
Public Revenue, and the accompanying question of the Currency
most proper to be employed in the fiscal operations of the Govern
ment, are both of agitating and exciting character, as well as of great
importance in their consequences, it becomes the right (and under
the circumutances of the excitement) the duty of the General As
sembly to express freely their opinions in relation to both branches
of this important subject. The Independent Treasury, or Sub-
Treasury system, commonly so called, involves two questions,
each of great importance, but wholly independent. The first has
for its object the divorce of Bank and State, or an entire disconnec
tion of the Banks with its revenues. The second seeks to deter
mine and establish the kind and character of the currency most safe
and convenient for the Government and least oppressive to the peo
ple. In regard to the first, we, the representatives of the people of
Georgia, influenced by a settled conviction of the unconstitutional
ity ot‘ a United States Bank, and of its inexpediency also, should
deem it extremely impolitic to entertain any longer the idea of such
an institution ever becoming the fiscal agent of the Government.
We are equally opposed to the introduction of the local Banks as
agents or depositaries of the public funds, as well to avoid the in
fluence of that extraordinary patronage, resulting to the appointing
power fiom such connection, whether that power be suffered to rest
with the Executive or taken into the hands of Congress, as to pre
vent the unavoidable tendancy of such a system from swelling the
revenue to an unnecessary and dangerous extent, producing fluctu
ations in trade and prices, not only by the increase of the revenue,
but from the changes frequently made of those corporations as depo
sitaries and agents of the public money. Properly rejecting both
of these agents for various other good reasons not necessary to be
set ferth, it necessarily results that the Government must conduct her
fiscal transactions through the agency of her own officers appointed
forthat especial purpose. In regard to the currency most proper to
be employed ; while We are fully sensible that gold and silver must
forever remain the basis and regulator of the value of property, and
that we would not favor any system which would endanger the rea
sonable certainty that the paper based thereon, should not at all
times be immediately convertable, or in other words, reduced to
gold and silver at the will of the holder ; yet we do not see the ne
cessity of conducting the operations of the Government exclusively
in the precious metals ; as it appears that the trouble of conveying
the specie from Bank to Custom House and from Custom House to
Bank, would be productive of some inconvenience, and if that in
convenience can be remedied by devising a system of combining all
die facilities which paper affords as a medium, with ail the certainty
of value which the circulation of the piecious metals secure, it would
seem that we would attain as near perfection in our circulation as the
nature of the thing is susceptible of. There are but few systems
which can lay claim to perfection, and as imperfect as the Sub-
Treasury sygjcm may be, yet under proper guards, with its details per
fected, we believe it the best system which lias yet been devised for
the general good. In devising and discussing the plans best calculat
ed to secure safety to the revenue and convenience to the Govern
ment and its people ; it should not be overlooked that in this widely
extended confederacy a circulation is demanded and very much need
ed that will maintain equal value throughout the Union. The bills of
a Bank of the United Slates would satisfy fully all expectations of con
vuience from such currency, but as it is the opinion of this Legisla
ture that even had Congress the power to charter such institution,, the
unexpediency of the measure should forbid its incorporation ; they
propose a system which, while it lias none of the characteristics of
a Bank, would afford a convenient and safe medium of remittance,
without any violation of the powers of the government or rights of
the people. The government is compelled to raise sufficient revenue
to bear the current expenses of the year, upon this fund there does
not appear to this body, any well grounded objection to the govern
ment’s issuing Treasury notes limited by law to the amount in the
Treasury, redeemable on demand* at as many points of redemption
as the commerce of the country may require. The quantity paya
ble or redeemable at each point to be graduated by the amount of
revenue received at those points. These Treasury notes issued
upon funds actually in the Treasury, would form a safe and whole
some medium of circulation and remittance, as the means of pay
ment would at all times be at hand. Therefore,
1. Resolved, That the revenue should be commensurate with the
wants only of the government.
2. Resolved, That the establishment of a National Bank in nnv
form is unconstitutional.
3. Resolved, That had Congress the power to charter a Bank
of the United States, the exercise of such power would be highly
inexpedient, impolitic and dangerous, as its great capital and conse
quent credit would not fail to give it a controlling influence over all
other monied institutions, by which it would control the commerce
as well as the politics cf the country, thereby destroying both the
freedom of trade and freedom of opinion.
4. Resolved, That the lessons of experience has taught us the
utter inexpediency of permitting the public funds to be controlled
by the local institutions; that the system of depositing in them either
upon general or special deposite, is in effect the same, and contrary
to sound policy, as well on account of the partiality and favoriteism
in granting the use of the government money to these corporations,
as from the political influence which such deposites necessarily have
over all connected with them, and to prevent a recurrence of these
effects and other great evils it is indispensible that np entire discon
nection or total divorce of the Government from all Banks should
lie the established and permanent policy ofthe American people.
5. Resolved, That the principles of the independent Treasury ol
Sub-Treasury system, is iu strict conformity with the requisitions of
the Constitution atid the practice of the government for many years.
6. Resolved, That the government can collect, keep, and dis
burse its revenue in no way so perfectly free from partiality, favor
iteism, or oppression, as through the agency of its own officers ap
pointed for the purpose.
7. Resolved further. For the convenience of the good people of
tho United States, that it is proper for the government to issue
treUMiry notes or stocks limited by law to the extent of revenue
P. L. KORINSON, P
on hand, redeemable on demand at all the cmnwient points of tjH
Union in proportion to the revenues receivedyat suclN(>!irces.
8. Resolved, lastly, That it is the opinion of this Legislatiffi|
that the bills of the specie paying Banks at par, when tho revenue
is collected, should be receivable in tho public treasury, the Banks
issuing the same to bo subject to such settlement as may be ordered
by the law that organizes the independent Treasury system.
Mr. Bacon, of Liberty County, introduced the foilwing Bill;
which was ordered printed :
A BILL,
To be entitled An Act to Incorporate the Savings Bank of the
State of Georgia.
Section 1. Be it enacted by the Senate and of
Rejiresentatives of the State of Georgia, in General Assembly
met, and it is hereby enacted by the authority ofthe same, That
a Bank shall be established in the county of Liberty, under the
name and style of “The Savings Bank of the State of Georgia,”
the capital stock whereof shall not exceed $500,000, divided
into 5,000 shares, of SIOO each.
Sec. 2. Be it further enacted by the authority aforesaid.
That the subscribers to the said Bank, their successors, and as
signs, shall be, and they are hereby created and made a Corpo
ration and body politic, by the name and style of “The Sav
ings Bank of the State of Georgia,” and are hereby made able
and capable in law, to sue and be sued, plead and be impleaded,
answer and be answered, defend and be defended, in Courts of
Record or any place whatever ; and also to make, have and use
a common seal, and the same to break, alter and renew at their
pleasure; and also, to ordain, establish, and put in execution
such by-laws, ordinances and regulations as shall seem neces
sary and convenient for the government of said corporation:
Provided, such by-laws, rules or regulations be not contrary
to the laws and Constitution of this State, or of the United
States ; and generally, to do and execute all and singular such
acts, matters and things, as to them, may or shall appertain to
do; subject, nevertheless, to the rules, regulations, restrictions,
limitations and provisions hereinafter prescribed.
Sec. 3. And be it further enacted by the authority afore
said, That for the well ordeing of the affairs of the said corpo
ration, there shall be elected seven Directors, by plurality of the
votes actually given in, and those so elected shall be capable of
serving for one year, by virtue of such choice, and such elec
tion shall be held annually, at such time as the stockholders
shall appoint, and the said directors, at their first meeting after
such election, shall choose one of their members as President,
and in case of his death, resignation, removal from the State, or
from the Board of Direction, the said directors shall proceed to
fill the vacancy by a new election : And it is further provided,
That in case it should at any time happen that an election
should not be made at the regular or annual time of so doing,
the said corporation shall not for that cause be deemed to be
dissolved ; but it shall be lawful on any other day to hold and
make an election of directors in sudh manner as shall have been
regulated by the rules and by-laws of the said corporation : And
provided further, That in case of the "absence or removal of a
director, his place maybe filled by a new.choice for the remain
der of the year by the remaining directors.
Sec. 4. And be it further enacted by the authority afore
said, That this company shall commence business as soon as
the stock shall have been subscribed for and an instalment of 5
I per cent paid thereon.
Sec. 5. And be it further enacted by the authority afore
said, That the company shall receive as deposits all sums of
money that may be offered for that purpose, in such sums and
on such terms as the direction may agree upon; which sum*
shall be repaid to each depositor when required, at such times and
with such interest, and regulations as may be agreed
upon between the parties; provided, that 30 days notice may be
required by the Bank before she can be required to return a de
posit ; and provided also, that this section can in no wise affect
those who-may make deposits merely for safe keeping.
Sec. 6. And be it further enacted by the authority afore
said, That the company shall be permitted, and they are hereby
authorized to issue bills or notes of credit, payable to bearer on
demand, signed by the President and countersigned by the
Cashier, to double the amount of capital stock paid in.
Sec. 7. And be it further enacted by the authority afore
said, That the persons and property of stockholders in said
Bank shall be pledged and bound in proportion to the amount of
the value of shares that catdi individual, or company, may sub
scribe for or hold in said bank, for the ultimate redemption of its
bills.
Sec. 8. And be it further enacted by the authority afore
said, That in case of excessive issues, this charter shall be deem
ed forfeited, and the directors making or causing such excess
shall be subject to fine to double the amount, and to imprison
ment at hard labour in the Penitentiary, at the discretion of the
Court, not less than two nor more than ten years: Provided,
that any director who may protest aganist such excess, and im
mediately make affidavit of the facts before a Magistrate, Notary
Public, Justice ofthe Inferior, or Judge of the Superior Court,
and transmit one copy of the same to his Excellency the Gov
ernor, and another to the Judge of the Superior Court of the
Eastern District, shall be exonerated from censure and exempt
from the aforementioned penalties.
Sec. 9. And be it further enacted by the authority aforesaid,
In case of excessive issues it shall be the duty of any Solicitor
General, Justice of the Peace, or Justice of the Inferior Court*
who may be apprised of the fact, to commence a prosecution,
without delay against the Directors.
Sec. 10. And be it further enacted by the authority aforesaid,
M hen any other Bank, company, or corporation shall apply at
this Bank and demand specie in payment of its bills, said Bank
or corporation making the demand, shall be compelled to re
ceive its own bills as specie.
Sec. 11. Andbe it further enacted by the authority aforesaid.
In no suitor action in any court of this State, in which th*
said bank may be a parly, shall it be lawful for the other par
ty or parties to require the said bank to produce the books of
the bank into Court as evidence : nor shall it be lawful for
such party or parties to require by subpoena or otherwise, the
attendance of any officer of the said bank in Court on the
trial of such case. But whenever in such suit it inay become
necessary for the attainment of justice, that the evidence con
tained in said books, Or the testimony of such officer, should
be had, it shall and may be lawful for either party in such cause
requiring such evidence or testimony, to take out a commission
in the usual manner to examine the officers of the said bank
as to the contents pf the said books, or as to their own knowl
edge of the facts, notwithstanding such officer may reside in the
county in which such suit may be pending.
Sec. 12. And be it further enacted by the authority aforesaid,
Dividends of the profits of the Corporation, or so much of the
same as shall be deemed proper, shall be declared semi-annual
ly, and shall be declared only on the nett profits, so that the
capi al shall remain unimpaired.
Sec. 13. And be it further enacted by the authority aforesaid,
Books shall be opened for subscription to stock at as early a
period as shall be agreed upon, at Walthourville, under the
superintendence of G. W. Wahhour, Win. J. Way, Milton E.
Bacon, G. H. Bacon, and G. D. Beckwith, who shall act as
commissioners in receiving subscription to stock and the first
instalment. The books shall be kept open at Walthourville
three days, when the foregoing shall appoint some suitable
time within twenty days thereafter, for opening subscription
and receiving instalments, as follows:
‘At Hinesville, under the superintendence of Charlton Hines,
Enoch Daniel, Ezra Stacy, Edward Way, and John Shaw.
At Taylor’s Creek, under the superintendence of Win B,
Gaulden, Newman Bradly, Robt. Hendry, James E. Martin,
and R. Bird.
At the muster ground in the 16th District, under the super
intendence of Wm. Smith, Jun., Simon Harrington, H.F. Horn,
Win. Parker, and Wm,Jj. Robinson.
And at Riceboro’, under the superintendence of Samuel
Spencer, Raymond City, G. W. Dunham, D. M. Stewart, and
B. A. Busby.
But in past* of a refusal to serve on the part of any of
RIETO
WHOUMO. 259.