or individual i its debts in 4, unless the ases no costs t beyond the or fact joined → rules as ap ng the provithird part of nine and ten, ised Statutes,

tion of the sewing amounts undred thou sand dollars; twenty thouthose having

1 dollars, one capitals to the thousand dolred and fifty dollars; those d dollars, two to the amount I dollars; those dollars, three to the amount thousand doldred thousand capitals to the dollars; those red and ninety capitals to the thousand dol

k not subject efit of the creposes," passed the provisions tioned and remmissioners to nk shall assent et incorporating aid assent shall Corporate seal, to

ained, it shall be ompt and efficient e charter and wind

$ 6. All the provisions of the act entitled “An act to prohibit the circulation of small bills," passed March 31, 1835, and the act entitled "An act to amend the act entitled 'An act to prohibit the circulation of small bills,' passed April 24, 1835," shall be and the same are hereby extended to all bills of a less denomination than twenty dollars, in the following manner, to wit:

7. No bill of a less denomination than ten dollars shall be offered or received in payment by any individual or body corporate or politic, or in any manner put in circulation within this state, after the first day of January, one thousand eight hundred and thirty-eight.

§ 8. No bill of a less denomination than twenty dollars shall be offered or received in payment by any individual or body corporate or politic, or in any manner put in circulation within this state, after the first day of January, one thousand eight hundred and thirty-nine.

Mr. President put the question on agreeing to said motion, and it was decided in the negative.

The yeas and nays being moved and seconded, were as follows, to wit:

The said report as amended was then read in the words following, to wit:

An Act suspending for a limited time certain provisions of law, and for other purposes.

The People of the State of New-York, represented in Senate and Assembly, do enact as follows:

1. Every provision of law in force, requiring or authorizing proceedings against any bank in this state, with a view to forfeit its charter, or wind up it concerns, or to subject any individual stockholder to any personal liabilities for the debts of such bank, or which requires such bank to suspend its operations and proceedings, in consequence of a refusal to pay its notes or evidences of debt in specie, is hereby suspended for one

year.

1

§ 2. In any suit prosecuted against any such corporation, or individual stockholder, within the period aforesaid, for non-payment of its debts in specie, no costs shall be recoverable by the party prosecuting, unless the plaintiff shall recover fifty dollars or upwards, and in such cases no costs shall be recovered beyond actual disbursements, nor interest beyond the rate of seven per cent per annum; and every issue of law or fact joined in such suit, shall be brought to trial according to the same rules as apply to other issues joined in the said courts, notwithstanding the provisions of section eleven, of title four, chapter eight, of the third part of the Revised Statutes; and the provisions of sections eight, nine and ten, of title four, chapter eight, of the third part of the Revised Statutes, shall not be applicable to such suits.

§ 3. The amount of notes or bills issued and in circulation of the several banks of this state, shall not hereafter exceed the following amounts respectively Those having capitals to the amount of one hundred thousand dollars, a circulation of one hundred and fifty thousand dollars; those having capitals to the amount of one hundred and twenty thousand dollars, one hundred and sixty thousand dollars; those having capitals to the amount of one hundred and fifty thousand dollars, one hundred and seventy-five thousand dollars; those having capitals to the amount of two hundred thousand dollars, two hundred thousand dollars; those having capitals to the amount of two hundred and fifty thousand dollars, two hundred and twenty-five thousand dollars; those having capitals to the amount of three hundred thousand dollars, two hundred and fifty thousand dollars; those having capitals to the amount of four hundred thousand dollars, three hundred thousand dollars; those having capitals to the amount of five hundred thousand dollars, three hundred and fifty thousand dollars; those having capitals to the amount of six hundred thousand dollars, four hundred and fifty thousand dollars; those having capitals to the amount of seven hundred thousand dollars, five hundred thousand dollars; those having capitals to the amount of one million dollars, eight hundred thousand dollars; those having capitals to the amount of one million four hundred and ninety thousand dollars, one million dollars; those having capitals to the amount of two million dollars, one million two hundred thousand dollars.

4. This act shall not take effect in favor of any bank not subject to the act, entitled "An act to create a fund for the benefit of the creditors of certain monied corporations, and for other purposes," passed April 2, 1829, unless such bank shall signify its assent to the provisions of this act, and the provisions of the act last above mentioned and referred to, so far as regards the visitation of the bank commissioners to ascertain the extent of their issues; nor unless such bank shall assent that the legislature may hereafter modify or repeal the act incorporating such bank, or any acts in amendment thereof; which said assent shall be given within ten days, by an agreement under its corporate seal, to be deposited with the secretary of state.

5. Notwithstanding the provisions in this act contained, it shall be and is, the duty of the bank commissioners to take prompt and efficient steps according to the law now in force, to forfeit the charter and wind

up the concerns of any bank which they shall find to be in dangerous or insolvent circumstances.

6. This act shall take effect immediately, and shall continue in force for one year, excepting the third and fourth sections thereof.

Mr. President put the question on agreeing to the said report, and it was decided in the affirmative.

The yeas and nays being moved and seconded, were as follows, to wit:

Ordered, That said bill be engrossed for a third reading.

Then the Senate adjourned until 10 o'clock to-morrow morning.

FRIDAY, 10 O'CLOCK, A. M.-MAY 12, 1837.

The Senate met pursuant to adjournment.

Mr. Downing presented two several petitions of sundry citizens of Brooklyn, in favor of the banks in that city suspending specie payments; which were read, and laid on the table.

Mr. Van Dyck presented the petition of the vestry of St. David's church in the town of Hamptonburgh, for leave to convey a certain lot of land; which was read, and referred to the committee on charitable and religious societies.

Mr. Edwards, from the committee on the judiciary, to whom was referred the amendments of the Assembly to the bill, entitled "An act concerning the proof of wills, executors and administrators, guardians and wards, and surrogates' courts," reported in favor of some and against others of said amendments.