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an act requiring the sereral banks Of this


State TO pay specie, and for other Pur-


poses.


SEor1oN /. Be It enacted By the Legis-
Iatare of the State of Mississippi, That
it shall not be lawful for any bank in
this State to issue for, and keep IN cir
collation. at any one time more than three
times the amount of its specie capital.


SEC. e. BE IL further enacted. That
from and after the passage of this acl It
shall not be lawful for any bank in this
State to issue anv bank note, bill of ex-
change. or evidence of debt. for cIrcula-
ton. before and until the present cIrcu-
lation of such bank shall be reduced to
an amount not exceeding three times the
amount of specie actually in the vaults
thereof, and bonafdely belonging there
to, as the basis Of its capital; nor shall
any Bank issue any notes or bills for cir
eulation at any time to an amount ex-
ceeding such proportion of its specie ba-
sis at the time of issuing the same; nor
shall issue any notes or bills for circula-
ton at any time when the specie in the
vaults Of such bank shall be less than one
third Of It's circulation.


SEC. 5. Be II further enacted, That it
shall be the duty of the President and
Directors of each bank in this State,
twice a year, to make out statement.
under oath, to be administered by any
civil officer legally authorised TO admin
ister oaths, showing the amount of spe-
Gle at that time remaining in such bank
as the basis of its circulation, which
statement so made. shall be filed in the
clerks Office, of the Circuit Court of the
county in which the bank may be locat-