Message From the Governor of Pennsylvania to Both Houses of the Legislature, At the Commencement of the Session, January, 1840
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I also recommend, that the banks be prohibited from making divi- dends exceeding seven per cent, per annum, and that the law pro- hibiting the declaring'jof dividends, during the suspension of specie payments, be rendered more effectual. It is understood, that several banks in this commonwealth, have wantonly and needlessly, viola- ted this law since their suspension in October, last. If this be found to be so, on examination, I recommend, further, the passage of a law repealing their charters,... on such conditions as may seem expe- dient to maintain the laws inviolate, and to protect the rights of the community. The idea of a set of associated individuals publicly declaring a division of profits among themselves, and refusing at the same lime to pay their just debts, is revolting to every principle of common honesty, and good morals. If the laws of this common* wealth, are thus contemptuously trampled on, without even the poor pretext of necessity urged in behalf of the act of suspension, I think it is time an example was made of the offenders, to vindi- cate the law, and to punish their temerity.
What to read after Message From the Governor of Pennsylvania to Both Houses of the Legislature, At the Commencement of the Session, January, 1840?
You can find similar books in the "Read Also" column, or choose other free books by Pennsylvania. Governor, 1839-1845 (Porter) to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
I also recommend, that the banks be prohibited from making divi- dends exceeding seven per cent, per annum, and that the law pro- hibiting the declaring'jof dividends, during the suspension of specie payments, be rendered more effectual. It is understood, that several banks in this commonwealth, have wantonly and needlessly, viola- ted this law since their suspension in October, last. If this be found to be so, on examination, I recommend, further, the passage of a law repealing their charters,... on such conditions as may seem expe- dient to maintain the laws inviolate, and to protect the rights of the community. The idea of a set of associated individuals publicly declaring a division of profits among themselves, and refusing at the same lime to pay their just debts, is revolting to every principle of common honesty, and good morals. If the laws of this common* wealth, are thus contemptuously trampled on, without even the poor pretext of necessity urged in behalf of the act of suspension, I think it is time an example was made of the offenders, to vindi- cate the law, and to punish their temerity.
What to read after Message From the Governor of Pennsylvania to Both Houses of the Legislature, At the Commencement of the Session, January, 1840?
You can find similar books in the "Read Also" column, or choose other free books by Pennsylvania. Governor, 1839-1845 (Porter) to read onlineMoreLess
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