Clipped From The Times-Picayune
519 50. Mr. Leefe, from the Finance Committee, reported tbe following resolutions, woioh were adopted and sent to the B jtrd of Aldar-men for concurrence : 11 Resolved, That the Finance Committees of the Common Council be, and they are hereby, authorized and empowered to cirry ont aui pnt into operation the .following, viz : " 1. To require from each and every individual or firm wbo has or have issrud his or their notes or. checks for change cirea-Jatlon a statement," under oath, of the total amount of his or 'their issues np to the 6th inst. " - " 2. To require from said party or parties Issuing .aid notes a special deposit in tbe bands of the City Treasurer, of ample security, for an amount equal to that of his or their issues, as above sworn to, or such security in favor of the ciyof New Orleans asahali prove satisfactory to the Finance Committees of the Common. Council. .. - " 3. To requite the surrender, by the said party or parties issuing small notee, to the Chairmen of the Finance Committees of the Common Council, of ail plates or blanks iu bis ot their possession, which plates or blanks shall be destroyed by said Chairmen. "4. That the Chairmen of the Finance Committees of the Common Council shall causa to be published the names of those who shall comply with the above requirements, adding thereto the amounts of their respective iasaee, and the amount on special deposit, or the value ot tbe security given, to provide for the future payment of all issues made, by eaid parties. " 5. Tbe Chairmen of the Finance Committees of the Common Council are hereby authorized to institute proceedings, through the City Attorney, in the name of the city of New Orleans, against any individual or firm who shall hereafter issue his or their notes or checks for email change circulation. " Kesolved further, 1. That the Finance Committees of the Common Council are hereby authorized to issue city notes signed by the City Treasurer and Comptroller or their deputies, equal jn denominations and aggregate amount to the small change circulation of individuals or firms as above sworn to and the paymemt thereof secured, whioh city notes shall be redeemed vvith the proceeds of the securities received from said party or parties issuing eaid small change circulation, and which proceeds shall remain pledged and be specially appropriated for tbe redemption of eaid small change circulation. " 2. That as soon as the city notes are ready for circulation the Chairmen of tbe Finance Committees shall give notice in the pnblic prints that the individual notes or checks as above named are no longer currency and must be presented for redemption and exchange for city notes at the City Treasury."