to our posterity. While the amendment of
the gentleman from Baltimore county (Mr.
Ridgely ) reaches the difficulty which be thinks
exists, it prohibits the action of the Legisla-
ture, under the provision adopted yesterday,
for twenty years.
Mr. BARRON. Will the gentleman inform
us of the longest time any bank charter in
this State has to run?
Mr. STIRLING. I think several of them
have about nineteen years to ran; they were
renewed a few years ago.
Mr. SANDS. As there Is so much conflict
of opinion upon this subject, so wide a differ-
ence of views between gentlemen, upon this
floor, I think that perhaps the best thing that
we could do would be to leave this whole mat-
ter untouched, to restore the section to the
form in which it stands in the present Con-
stitution. As argued by the gentleman from
Cecil (Mr. Pugh,) not to make some provi-
sion for the banks whose charters are soon to
expire, might affeet injuriously the interests
of many persons, and if, to meet that diffi-
culty, we are to adopt the pending amend-
ment and extend the charters of all banks for
twenty years from this time, then what ne-
cessity is there for our taking this action
now? Why divide and distract our own
people at such a time as this, upon a ques-
tion that certainly did not enter into the
canvass for this Convention? It is proposed,
I believe, that the Constitution we may frame
shall have in itself provision for its own
amendment at any time. Then why not em-
body in the Constitution we propose to sub-
mit to the people, simply the provision in the
old Constitution in relation to this matter,
And leave the people to act upon this subject
hereafter? I certainly see no necessity for
immediate action, and I think I see that our
action here upon this subject may breed a
great deal of discontent and dissatisfaction
among the people. Seeing no good to result
from our action upon this subject at this time,
and fearing that much harm may grow out
of it, my own impression after reflection, is
that we better leave the matter as it stands in
the present Constitution. I think so, for the
reason that it might be unjust not to continue
banks, whose charters are about to expire up
to the time of the expiration of the last ex-
piring bank charter now in existence. I
should have to vote for that proposition; and
if it is adopted and we are to continue the
present banking system for eighteen or twenty
years, then what is the necessity for our acting
upon this subject at this time? My con-
viction is that we better leave the matter as it
stood when we assembled here.
Mr. NEGLEY. I think if the pending
amendment, submitted by the gentleman from
Baltimore county (Mr. Ridgely,) is adopted,
it will not only postpone action on the part
of the Legislature for twenty years, but it
may do so for all time to come. Because be- |
tween now and the time when all the existing
bank charters expire, there may beadditional
charters granted. Eighteen years hence the
Legislature may grant a new charter, or re-
new some old charter for twenty years, and
that will carry it twenty years beyond the
eighteen years
Mr. PUGH, The amendment is ' 'after the
expiration of all the existing bank charters."
Mr. NEGLEY. The gentleman is right. I
think we better not interfere with this subject
at all. I was sorry to see the amendment of
the gentleman from Frederick (Mr. Schley)
pass yesterday. This question of currency
has always been a very delicate one, I think
the circumstances of the time will always in-
struct the Legislature what is best to be done,
and we better leave the matter to them. They
can tell better, from time to time, what the
Wants of the people in regard to this matter
may require than we possibly can, and I
think we better leave this section to stand as
it is now in the present Constitution. If any-
thing occurs in the future requiring action,
then the people can act upon it.
Besides that, if the section is left to stand
as it was amended on yesterday, just see
what a predicament the State of Maryland is
placed in. It is utterly useless to try to drive
out of circulation in Maryland the issues of
authorized State banks as long as there are
banks in adjoining States which are authorized
to exercise that privilege. Suppose the State
of Pennsylvania: continue their existing bank
charters, and we refuse to grant similar privi-
leges to banking corporations in Maryland,
what. will be the result? Maryland is de-
prived of establishing her own circulation
among her own citizens, and is forced to
adopt and use the circulation of adjoining
States, and we will be in the predicament
that Illinois Was before the issuing of
United States Treasury notes. She had no
banking corporations of her own, and was
consequently cursed with the most miserable
and worthless wild-cat currency that ever
cursed any community. Banks were estab-
lished in Georgia, and sent their worthless
currency for circulation in Illinois. Now,
unless this reform extends throughout the en-
tire country there is no use in our attempting
to interfere with it. I think we better leave
this section to stand as it Originally stood.
Mr. MILLER. I Would suggest to the gen-
tleman from Howard county (Mr. Sands) that
as he voted in the affirmative upon the amend-
ment of the gentleman from Frederick (Mr.
Schley) he can move a reconsideration of the
vote by which that amendment was incorpo-
rated into this section.
Mr. SANDS. I was about to move a recon-
sideration of the vote by which the amend-
ment of the gentleman from Frederick (Mr.
Schley) was adopted, so as to restore the sec-
tion as it stands in the present Constitution.
The PRESIDENT. That motion is not in |
