{"newspaper_name": "The Arkansas banner.", "edition": "01", "page": "p2", "byline": ""}
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FLoRiDa.-Fhe Legislature of the young State ol Florida is rapidly progressing with their arduous and responsible duties, in or ganizing the State Government. \ number of bills have been introduced into the Legis- lature, and among others, bill to raise the necessary revenue for the support of Govern ment; also bill ..to regulate, restrain, and control a certain association, called the Uni on Bank of Florida, claiming to exercise cor porate privileges, so as 10 guard, protect, and secure the interests of the people of the State, and for other purposes.8 From this and the report of the Committee on Banks, it Is evi- dent that the Democracy of our sister State, are determined to assume a correct position in the outset, in relation to banking institu- tions and other privileged corporations. We have room only for the concluding para graph the report:

 'sThe Committee deem the only duty yet unfulGlled by the People of Florida, in re- gard 10 these Banks and faith bonds, is to see that they do justice to their creditors, wind up their affairs, and cease to exist To have this done, the General Assembly are morally and legally public Trustees for all parties. The State Constitution makes it our duty to act, and to act at this session. We should be faithless to our trustand duty, if we neglect so to do. As 1t respects the Union Bank, this duty is fulfilled by the pass age of the bill now reported. It winds mp the bank IL deprives it of the franchise of banking. It provides for the settlement of it's affairs. The interests of all parles-ol the public, of the State, of the stockholders and debtors of the hank, of the creditors, bona fde bond holders as well as others, are all looked to, and the Committee believe no violation of vested rights has been commit- ted, and the obligation of contracts has not been impaired. The corporation cannot be at once totally abolished; nor till the bonds and mortgages, given to secnre the faith bonds, are due, which is not till 1868. But it IS disrobed of its usurped and abused pow CTS and privileges, forfeited 10 the State, and abrogated by the change of government, if they ever legally existed. It is placed in a position where, by a course of probitY, pru- dence and economy, the reputation of all concerned may yet be redeemed, their inter ests preserved, and the honor of the State sa- ved from impeachment. The Committee pur- pose reporting other bills, necessary as to other Territorial Corporations. :"

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