SIR, Philadelphia, February 9, 1782. : THE president, directors and company of the Bank of North America, incorporated by the United States of America in congress assembled, have thought it proper to petition the General Assembly of Pennsylvania for a similar charter, and such further support from the legislature of the state, as may render the bank capable of yielding those advantages to the general cause of America, which are intended thereby and this institution being encouraged and supported by citizens of other states, as well as that in which it happens to be established, the most respectful and proper mode of presenting the petition to that honourable house appearing to be through the supreme executive council of the state, we have enclosed the same to you, and request that you will please to lay it before the general assembly as soon as they shall meet. I have the honour to be, Your excellency's most obedient servant, His excellency WILLIAM MOORE, Esq. President. An Act to incorporate the Subscribers to the Bank of North America. Sect. I. WHEREAS the United States in congress assembled, from a conviction of the support which the finances of the United States would receive from the establishment of a national bank, passed an ordinance to incorporate the subscribers for this purpose, by the name and style of "The President, Directors, and Company of the Bank of North America :" And whereas the president and directors of the said bank have applied to this house for a similar act of incorporation, which request it is proper and reasonable to grant: Sect. II. Be it therefore enacted, and it is hereby enacted by the representatives of the freemen of the commonwealth of Pennsylvania, in general assembly met, and by the authority of the same, That those who are, and those who shall become subscribers to the said bank, be and for ever hereafter shall be a corporation and body politick, to all intents and purposes, by the name and style of "The President, Directors and Company of the Bank of North America." Sect. III. And be it further enacted by the authority aforesaid, That the said corporation are hereby declared and made able and capable in law, to have, purchase, receive, possess, enjoy and retain lands, rents, tenements, hereditaments, goods, chattels and effects, of what kind, nature or quality soever, to the amount of ten millions of Spanish silver milled dollars, and And also to sell, grant, demise, alien, or dispose of the same lands, rents, tenements, hereditaments, goods, chattels and effects. no more. Sect. IV. And be it further enacted by the authority aforesaid, That the said corporation be, and shall be for ever hereafter, able and capable in law to sue and be sued, plead and be impleaded, answer and be answered unto, defend and be defended, in courts of record, or any other place whatsoever, and to do and execute all and singular other matters and things, that to them shall or may appertain to do. Sect. V. And be it further enacted by the authority aforesaid, That for the well governing of the said corporation, and the ordering of their affairs, they shall have such officers as they shall hereafter direct or appoint. Provided nevertheless, That twelve directors, one of whom shall be the president of the corporation, be of the number of their officers. Sect. VI. And be it further enacted by the authority aforesaid, That Thomas Willing be the present president, and that the said Thomas Willing, and Thomas Fitzsimons, John Max. well Nesbitt, James Wilson, Henry Hill, Samuel Osgood, Cadwallader Morris, Samuel Engles, Samuel Meredith, William Bingham, Timothy Matlack and Andrew Caldwell, be the present directors of the said corporation, and shall so continue until another president and other directors shall be chosen, according to the laws and regulations of the said corporation. Sect. VII. And be it further enacted by the authority aforesaid, That the president and directors of the said corporation shall be capable of exercising such powers, for the well govern. ing and ordering of the affairs of the said corporation, and of holding such occasional meetings for that purpose, as shall be described, fixed and determined by the laws, regulations and ordinances of the said corporation. Sect. VIII. And be it further enacted by the authority aforesaid, That the said corporation may make, ordain, establish and put in execution such laws, ordinances and regula tions, as shall seem necessary and convenient for the govern ment of the said corporation. Sect. IX. Provided always, That nothing herein before contained shall be construed to authorize the said corporation to exercise any powers in this state, repugnant to the laws or constitution thereof. Sect. X. And be it further enacted by the authority aforesaid, That the said corporation shall have full power and authority to make, have and use a common seal, with such devices and inscription as they shall think proper, and the same to break, alter and renew, at their pleasure. Sect. XI. And be it further enacted by the authority aforesaid, That this act shall be construed and taken most favourably and beneficially for the said corporation. Signed, by order of the House, FREDERICK A. MUHLENBERG, Speaker. Inacted into a Law, at Philadelphia, on Monday, the first day of April, in the year of our Lord one thousand seven hundred eighty and two. PETER Z. LLOYD, Clerk of the General Assembly. ON the 16th day of February, 1782, advanced to the United States, on behalf of Pennsylvania, 80,000 dollars. At different times in 1782, advanced to the commissioners for defence of the river and bay of Delaware, the sum of about 22,500 dollars. On the 17th day of September, 1782, advanced to the state treasurer, for defence of the western frontiers, upon application of the house of assembly, 13,333 1-3 dollars, in part of a larger sum agreed to be lent, as the necessity of the state might require; but upon advice from the British commander in chief, that the Indians were called off our frontiers, this requisition stopped, and no further sum was taken out of the bank. On the 18th day of April, 1784, paid the speaker's draft on the treasurer, accepted by him, in favour of James Mease, 16,000 dollars. |