STATE OF MAINE.

IN THE YEAR OF OUR LORD ONE THOUSAND EIGHT HUNDRED AND FORTY-SIX.

AN ACT additional in relation to banks and banking,

Be it enacted by the Senate and House of Represent

atives in Legislature assembled, as follows:

SECTION 1. The charters of all banks now incor2 porated or which may hereafter be incorporated 3 within this State, are hereby extended to the first day 4 of October in the year of our Lord one thousand 5 eight hundred and fifty-seven, subject to the provisions 6 of this act and all existing acts upon the subject of 7 banks and banking.

SEC. 2. All banks accepting a renewal of charter, 2 subject to the restrictions, limitations and penalties of 3 this act, shall give written notice of such acceptance, 4 to the secretary of State, on or before the first day of 5 May, in the year of our Lord one thousand eight 6 hundred and forty-seven.

SEC. 3. No bank now incorporated or which may

2 hereafter be incorporated within this State, shall issue 3 and put in circulation as money, bills to the amount 4 of more than fifty per cent. of its capital stock actual5 ly paid in, unless said bank shall have in its vault, at 6 the time of such issue, one dollar in specie for every 7 three dollars in bills so issued, over and above fifty 8 per cent. of its capital stock; nor shall the circula9 tion of any bank within this State, at any time, exceed 10 the amount of its capital stock paid in, and the specie 11 in its vault.

SEC. 4. Weekly balances shall be made by the 2 cashiers of banks, exhibiting the amount of specie 3 on hand and the amount of bills in circulation; and 4 it shall be the duty of the bank commissioners, at 5 their annual examination to note all over issues shown 6 by such balances, and report the same to the govern7 or and council.

SEC. 5. Every bank now incorporated or which 2 may hereafter be incorporated in this State, shall for3 feit and pay for the use of the State, ten per cent. 4 upon the amount of bills it shall at any time wilfully 5 and with intent to evade the provisions of this act, 6 put in circulation over and above the amount author7 ized by the third section of this act; and said forfeit8 ure may be sued for and recovered in the name of

BANKS AND BANKING.

9 the treasurer in an action on the case, in the supreme

10 judicial court.

SEC. 6. Whenever by the annual report of the bank 2 commissioners or otherwise, it shall appear that any 3 bank has put in circulation a larger amount of bills 4 than authorized by this act, it shall be the duty of the 5 secretary of State to notify the attorney general of 6 the fact, who upon the receipt of said notice, shall 7 forthwith commence an action against the president, 8 directors and company of such delinquent institution, 9 to recover the penalty established by the fifth section 10 of this act.

SEC. 7. The thirty-second section of the seventy2 seventh chapter of the Revised Statutes is hereby 3 repealed.

STATE OF MAINE.

IN SENATE, July 22, 1846. Ordered, That 350 copies of a bill entitled "an act additional in relation to banks and banking," together with the report made by the committee on banks and banking, be printed for the use of the Legislature.

DANIEL T. PIKE, Secretary.

HOUSE OF REPRESENTATIVES, July 23, 1846.

Ordered, That 300 copies of the foregoing bill be printed for

the use of the House.

SAMUEL BELCHER, Clerk.

THE Committee on the Insane Hospital, to whom was referred so much of the governor's message as relates to the Insane Hospital, together with the reports of the trustees, treasurer, steward and superintendent of said Hospital, have had the same under consideration and ask leave to submit the following

REPORT:

Your committee, in accordance with the usual custom, have made their annual visit to the Hospital, and have examined with much care, the treatment of the patients and the various accommodations of the institution, for their comfort and recovery.

The Hospital under the superintendence of Dr. Ray, had attained to some distinction amongst similar institutions in our country. His popularity as a gentleman and a scholar, had become associated with the Hospital, and it was with feelings of regret, that the friends of the institution heard of his resignation as superintendent. Yet your committee are satisfied that the Hospital under the direction of the present superintendent, Dr. James Bates, fully sustains the character it had acquired under the government of Dr. Ray.

Family devotions have been established in the Hospital, and

Wm. T. Johnson, Printer to the State.