An act to prohibit the Circulation of Bank Notes of a less denomination than five dollars.

Sec. 1. Be it enacted by the people of the State of Illinois represented in the General Assembly. That from and after the first day of September next no person or persons shall be permitted to utter or pass in this State as or in lieu of money, any Bank note Bill or note, made or issued by an Banking institution, or purporting to have been made or issued by any Banking institution of a less denomination or for a less sum than five dollars, and each and every person or persons Offending herein shall forfeit and pay the sum of five dollars for every Offence, which may be recovered with Costs of suit by action of debt or assumpsit before any Justice of the peace by any person who will sue for the same. Provided the provisions of this act shall not apply to the uttering or passing of any Bank Bill or note issued by any Banking institution in this State authorised by its Charter to make, utter or issue Bills or notes of a less denomination than five dollars.

Sec 2. That any person or persons who shall use or lend any Bill or note of any Bank within the provisions of the first section of this act of a less denomination than five dollars and who shall take Obligations in writing or verbal promises for the repayment thereof of any note or Bill of the Character and discription aforsaid loaned as aforsaid shall not be permitted to collect the same and it shall be competent for the defendant in any suit brought for the Collection thereof to plead that the Obligation in writing or verbal promise was made and executed or given for and in Consideration of notes and Bills of a less denomination than five dollars, made uttered or issued by incorporated Companies or by Banking institutions other than those excepted in the proviso to the first section of this act, which plea when so made shall be deemed good in law and the plea so pleaded shall be deemed a bar to the action.

Sec. 3. If any person or persons shall utter or pass as or in lieu of money any note or bill issued and published by any joint stock or other Company not incorporated or purporting to have been so issued or published, such person or persons shall not be permitted to collect any demand arising therefrom, and the plea allowed in the second section of this act shall be taken and allowed a good and sufficient plea in bar or any such demand, and such person or persons so uttering or passing notes or bills issued and published as aforesaid shall be deemed and Considered swindlers, and shall be liable to indictment as such and upon Conviction shall be fined in a Sum not less than one hundred dollars nor more than one thousand dollars for each Offence.