Provisions
X.4 proposed for 1870 • Registry of bills and notes; Specie payments; Banking corporations.
REJECTED
The Text
The Legislature shall provide for the registration of all bills or notes issued or put in circulation as money, by virtue of any law of this State, and shall require ample security for the redemption of the same in specie.
No law shall be passed authorizing or sanctioning the suspension of specie payments.
In case of the insolvency of any bank or banking association, the bill-holders thereof shall be entitled to preference in payment over all other creditors.
A Few Facts
• Has 76 words
• Was proposed by the Constitutional Convention
• Went to NYS voters as proposed amendment 1 of 1869
If New Yorkers voted to approve this provision, it would have:
• Joined the Constitution in 1870
• Been in Article X:
• Changed the text of a previously existing provision
• Amended or built on:
◦ 1847-VIII.4
◦ 1847-VIII.5
◦ 1847-VIII.6
Credits
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