270
AMERTCAN HISTOilICAL ASSOCIATION.
10 thousand Dollares will be then payable to the lottery establish- ment I may in this place mention that the old Charter may be amended so as to meet all the Objects contemplated. propose an amendment in the following manner 1 Change the Committe to Directors for six month 2 Give Power to the Directors to establish a Branch Bank at St Genevieve when they think the Interest of the Bank will Justify- 3 Give power to the Directors to put the Bank into Operation when they shall Judge proper 4 make 1/10 on each share payable on subscribeing • 5 Make provision for the Interest of the Territory agreeably to the plan proposed both as respects stock ·and Directors 6 reduce shares to 50 Dollares each the produce to the Territory will be truly grate for after the Ten thousand Dollars payable in Prizes on the last Drawing of the Class lottery, is made the produce of this system will be 70,847 44 1/2 in stock to the Territory and 135 000 Dollars for the use of the Territory in building Bridges and Makeing a Territorial road thus makeing the Produce of this Sche~e in Ten years a Public advantage of 205847 44 1/2 and that with out taxing the People a Cent Whether this Project is or is not of con- sequence to the Territory is to be submited to the legislature. I would also propose that there shall each year be created as much as will Cover the yearly dividends of the Territorial Stock, If No more, unless there should be as much stock to be purchased at par as the.Territory may want and If there should Not be, it is a proof that the Bank is doing a. good business and can not be damaged by New Stock being created, I have· a few remarks more to make respecting the payment of the first instalment on the Bank shares :for the Territory, lett the Territorial Revenue be plased in the Bank in payment of the first instalment arid Jett the bank lend money to· the Territory from time to time untill the Drawing of the Lottery, this the bank may do with great Propriety in as much as the full amount of the Bank shares will be paid up by the sale of Ticketts and by money deposited in Bank from time to time also the use of all the money Produced from all the Classes of the lottery :for- the Ten years in fact It is likely that the sales of ticketts would produce as much money and in time for the Payment of the Terri- torial Insfalment that is if the lottery is put into Operation as soon As the Bank for the lottery Money may be used in payment Untill the Drawing of the lottery In Justification of this Systam you may urge the many Counter.fit Bank Notes_which no Law can cure in as much as the Banks that put them into circulation are at too great a
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