meaning of this Act, where it is in fact done honestly, whether it is done negligently or not

Signature.

91. (1.) Where, by this Act, any instrument or writing is required to be signed by any person, it is not necessary that he should sign it with his own hand, but it is sufficient if his signature is written thereon by some other person by or under his authority.

(2.) In the case of a corporation, where, by this Act, any instrument or writing is required to be signed, it is sufficient if the instrument or writing be sealed with the corporate seal.

But nothing in this section shall be construed as requiring the bill or note of a corporation to be under seal.

Computation of Time.

92. Where, by this Act, the time limited for doing any act or thing in less than three days, in reckoning time, non-business days are excluded.

"Non-business day" for the purposes of this Act means(a.) Sunday, Good Friday, Christmas Day:

(b.) A bank holiday under the Bank Holidays Act, 1871, or Acts amending it :

(c.) A day appointed by Royal proclamation as a public fast or thanksgiving day.

Any other day is a business day.

When Noting equivalent to Protest.

93. For the purposes of this Act, where a bill or note is required to be protested within a specified time or before some further proceeding is taken, it is sufficient that the bill has been noted for protest before the expiration of the specified time or the taking of the proceeding; and the formal protest may be extended at any time thereafter as of the date of the noting.

Protest when Notary not accessible.

94. Where a dishonoured bill or note is authorised or required to be protested, and the services of a notary cannot be obtained at the place where the bill is dishonoured; any householder or substantial resident of the place may, in the presence of two witnesses, give a certificate, signed by them, attesting the dishonour of the bill, and the certificate shall in all respects operate as if it were a formal protest of the bill.

The form given in Schedule 1 to this Act may be used with necessary modifications, and if used shall be sufficient.

Dividend Warrants may be Crossed.

95. The provisions of this Act as to crossed cheques shall apply to a warrant for payment of dividend.

Repeal.

96. The enactments mentioned in the second schedule to this Act are hereby repealed as from the commencement of this Act to the extent in that schedule mentioned.

Provided that such repeal shall not affect anything done or suffered, or any right, title, or interest acquired or accrued before the commencement of this Act, or any legal proceeding or remedy in respect of any such thing, title, or interest.

Savings.

97. (1.) The rules in bankruptcy relating to bills of exchange, promissory notes, and cheques, shall continue to apply thereto notwithstanding anything in this Act contained.

(2.) The rules of common law including the law merchant, save in so far as they are inconsistent with the express provisions of this Act shall continue to apply to bills of exchange, promissory notes, and cheques.

(3.) Nothing in this Act or in any repeal effected thereby shall affect

(a.) The provisions of the Stamp Act, 1870, or Acts amending it, or any law or enactment for the time being in force relating to the revenue (33 & 34 Vict. c. 97):

(b.) The provisions of the Companies Act, 1862, or Acts amending it, or any Act relating to joint stock banks or companies (25 & 26 Vict. c. 89):

(c.) The provisions of any Act relating to or confirming the privileges of the Bank of England or the Bank of Ireland respectively:

(d.) The validity of any usage relating to dividend warrants, or the indorsements thereof.

Saving of Summary Diligence in Scotland.

98. Nothing in this Act or in any repeal effected thereby shall extend or restrict, or in any way alter or affect the law and practice in Scotland in regard to summary diligence.

Construction with other Acts, &c.

99. Where any Act or document refers to any enactment re

pealed by this Act, the Act or document shall be construed, and shall operate, as if it referred to the corresponding provisions of this Act.

Parole Evidence allowed in certain Judicial Proceedings in Scotland.

100. In any judicial proceeding in Scotland, any fact relating to a bill of exchange, bank cheque, or promissory note, which is relevant to any question of liability thereon, may be proved by parole evidence: Provided that this enactment shall not in any way affect the existing law and practice whereby the party who is, according to the tenor of any bill of exchange, bank cheque, or promissory note, debtor to the holder in the amount thereof, may be required, as a condition of obtaining a sist of diligence, or suspension of a charge, or threatened charge, to make such consignation, or to find such caution as the court or judge before whom the cause is depending may require.

This section shall not apply to any case where the bill of exchange, bank cheque, or promissory note has undergone the seseunial prescription.

SCHEDULES.

FIRST SCHEDULE.

SECTION 94.

Form of protest which may be used when the services of a notary cannot be obtained.

of

Know all men that I, A. B. [householder], of

in the county in the United Kingdom, at the request of C.D., there being no notary public available, did on the day of 188

at

demand payment [or acceptance] of the bill of exchange hereunder written, from E.F., to which demand he made answer [state answer, if any] wherefore I now, in the presence of G.H. and J.K. do protest the said bill of exchange.

(Signed)

A.B.

N.B.-The bill itself should be annexed, or a copy of the bill and all that

written thereon should be underwritten.

Session and Chapter.

..

9 Will. 3. c. 17.
3 & 4 Anne, c. 8.

17 Geo. 3. c. 30.

..

SECOND SCHEDULE.

ENACTMENTS REPEALED.

Title of Act and extent of Repeal.

An Act for the better payment of Inland Bills of Exchange. An Act for giving like remedy upon Promissory Notes as is now used upon Bills of Exchange, and for the better payment of Inland Bills of Exchange.

An Act for further restraining the negotiation of Promissory Notes and Inland Bills of Exchange under a limited sum within that part of Great Britain called England.

39 & 40 Geo. 3. c. 42. An Act for the better observance of Good Friday in certain cases therein mentioned.

48 Geo. 3. c. 88.

1 & 2 Geo. 4. c. 7 & 8 Geo. 4. c.

Geo. 4. c. 24.

An Act to restrain the Negotiation of Promissory Notes and Inland Bills of Exchange under a limited sum in England. 78. An Act to regulate Acceptances of Bills of Exchange. 15. An Act for declaring the law in relation to Bills of Exchange and Promissory Notes becoming payable on Good Friday or Christmas Day.

An Act to repeal certain Acts, and to consolidate and amend the laws relating to Bills of Exchange and Promissory Notes in Ireland.

in part; that is to say,

Section two, four, seven, eight, nine, ten, eleven. 2 & 3 Will. 4. c. 98. An Act for regulating the protesting for non-payment of Bills of Exchange drawn payable at a place not being the place of the residence of the drawee or drawees of the same.

6 & 7 Will. 4. c. 58. An Act for declaring the law as to the day on which it is requisite to present for payment to Acceptor or Acceptors suprà protest for honour, or to the Referee or Referees, in case of need, Bills of Exchange which have been dishonoured.

8 & 9 Vict. c. 37. An Act to regulate the issue of bank notes in Ireland, and in part. to regulate the repayment of certain sums advanced by the Governor and Company of the Bank of Ireland for the public service,

in part; that is to say,

Section twenty-four.

19 & 20 Vict. c. 97. The Mercantile Law Amendment Act, 1856,

23 & 24 Vict. c 111. An Act for granting to Her Majesty certain duties of stamps, in part. and to amend the laws relating to the stamp duties, in part; that is to say,

34 & 35 Vict. c. 74. An Act to abolish days of grace in the case of Bills of Exchange and Promissory Notes payable at sight or on presentation.

39 & 40 Vict. c.

41 & 42 Vict. c.

81. The Crossed Cheques Act, 1876.

13. The Bills of Exchange Act, 1878.

ENACTMENT REPEALED AS TO SCOTLAND.

19 & 20 Vict. c. 60. The Mercantile Law (Scotland) Amendment Act, 1856,

THE NATIONAL BANKS OF THE UNITED STATES OF

AMERICA.*

By Mr. ROBERT W. BARNETT.

THE bill for the renewal of the charters of the National Banks was finally passed by both Houses, and approved by the President, on the 12th of July last. Its fate could hardly at any time be considered doubtful, though the opposition it encountered was both keen and bitter; but it was by no means certain that in its final shape it might not embody some amendments greatly at variance with the principles of the measure. This form of opposition, however, has been unsuccessful, and the system remains unaltered as to its main features of local issue and central control. Under certain conditions any National Bank may, within the two years next previous to the date of expiry of its present charter, take powers to extend its existence for a further period of twenty years. This must be considered as giving to the system something more than a temporary prolongation. It is obvious that it may, in the case of the banks most recently established, be extended for nearly forty years. But it has been well understood that the struggle was for the acceptance or rejection of the National Banks as a permanent system, and though many of the objections that have. been urged have been not without foundation, it has not only proved a great advance upon the state of things by which it was preceded, but has conferred positive advantages upon the country which have been thoroughly appreciated. Doubtless the perception of these advantages has been greatly assisted by the fact of each bank being a separate and local institution, and thus arousing local interests in every town in the Union.

Under the new Act application must be made to the Comptroller for power to amend the articles of association by extending the period of succession, and must be accompanied by a certificate that the amendment has the consent of shareholders owning at least two-thirds of the capital. Before granting the powers asked for, the Comptroller is directed to make a special examination into the affairs of the bank, and to permit its extension only if its condition is quite satisfactory. Any shareholder not assenting to the amendment may give notice to the directors of his desire to withdraw

*The following remarks are supplementary to the paper on the National Banks of America, which was read by Mr. Barnett before the Institute on the 17th May last (pp. 381-418). It will be remembered that at that time the Bill for the Extension of the National Bank Charters, the provisions of which are here explained, had not passed the Senate.-ED.