1860.

LAWS OF MARYLAND.

CHAP. 317.

culation shall not at any time exceed the sum of
seventy-five thousand dollars.

Annual state-
ment.

SEC. 2. And be it enacted, That the president
and secretary of such bank, shall annually on the
first Monday of January in each and every year
return to the Treasurer of the State a statement un-
der oath of the amount of notes in circulation and on
hand and the amount and description of stocks
held as a redeeming fund, and in case such officer
or officers shall wilfully make a false statement he
or they shall upon conviction be subject to the lia-
bilities of wilful and corrupt perjury.

Notes to be
paid in specie.

SEC. 3. And be it enacted, That at any time the
said Savings bank shall neglect or refuse to pay in
gold or silver any of its notes that may be issued
under the provisions of this act, then the charter
shall be deemed and taken to be absolutely for-
feited and void.

Tax on notes.

SEC. 4. And be it enacted, That the said Sav-
ings Bank shall pay to the Treasurer of Maryland,
twenty cents on every hundred dollars of the notes
that may be issued under the provisions of this act,
for the augmentation of the free school fund of
this State.

Repealed.

SEC. 5. And be it enacted, That the words in
the fourth section of the act of March tenth, eigh-
teen hundred and fifty-six, chapter three hundred
and twenty-nine, "and provided always, that noth-
ing herein contained shall be construed to authorise
this corporation to issue any bill or other devise
in the nature of a bank note, " be and the same is
hereby repealed.

In force.

SEC. 6. And be it enacted, That this act shall
take effect from the passage thereof, and be it

Reservation.

hereby provided, that this act shall be repealable
at the pleasure of the General Assembly of Mary-
land.