FRANCIS THOMAS, ESQUIRE, GOVERNOR.

1841.

Sec. 4. And be it enacted, That the said trustees of school
number six, shall have power to fix a scite for a scite for a
school house in district number six of the said election dis-
trict, and to appropriate the funds paid to them by the or-
der of the orphans court, towards the building of said
school house; provided, that after the completion of said
school house, no further school funds shall be paid to said
trustees of school number six by the orphans court, unless
said school shall be kept in operation, as required of the

CHAP. 302.

other located schools of said county.
Sec. 5. And be it enacted, That the third and fourth
sections of this act shall be inoperative, unless the said
trustees of school number six, shall cause the. school house
in said district number six, to be erected within the present
year.

Inoperative
if not erected
within the
present year

CHAPTER 302.

An act to provide for Specie Payments by the Banks.

Passed March
9, 1842.

Section 1. Be it enacted by the General Assembly of
Man/land, That, the several banks of this State shall on the
first Monday of May next, pay and continue to pay on de-
mand all their several and respective liabilities in specie,
and that the. said banks are hereby authorized to issue notes
or certificates of deposit, of any denomination not less than
one dollar, which said notes or certificates of deposit shall

Pay specie on
the first of
May

be redeemed in specie on demand.
Sec. 2. And be it enacted, That no bank shall issue or
pay out notes or certificates of a less denomination than five
dollars, to an amount greater than five per centum of the
capital actually paid in of such bank, nor shall any bank is-
sue such notes after the first day of November next.
Sec. 3. And be it enacted, That if any bank shall neglect
or refuse to comply with the provisions of this act, by re-
fusing to pay any of its liabilities in specie on demand, such
refusal shall be a forfeiture of the charter of such bank, and
the county court of the. county where any such bank is sit-
uated, shall upon the application of any one interested or
upon the application of the Attorney General, whose duty
it shall be to make such application, issue a scire facias
against such bank to shew cause why its charter shall not

Banks not to
issue notes
of less deno-
mination than
five dollars af-
ter 1st Nov
On refusal to
forfeit char-
ter

be forfeited.
SEC. 4. And be it enacted, That if any bank in this
State shall execute or put in circulation, after the passage of

Post or other
notes paid in
specie