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penalties, from entering into stock speculations, from acting as money. brokers, from investing money intrusted to them in their own names, &c. The requisites for becoming a notary in France are, that the candidate be a French citizen, twenty-five years of age, and that he has served as clerk with a notary for six years. But no man, without property, can expect to obtain a place as notary, because he is obliged to buy, often for an enormous price (which in Paris often amounts to from 200,000 to 300,000 francs, in smaller towns to 100,000 francs, and in small communes to 10,000 francs), from a notary who is about to retire, or from the heirs of a deceased notary, a study-room or office (étude), with the acts and documents belonging to it; for without such an office, the mere appointment of notary is of little value.

There are also established by law, in France, notarial chambers, which consist of a number of deputies, chosen by the notaries, who regulate the discipline among them, decide on the admission of candidates, adjust disputes which may arise among themselves, and hear and decide on the complaints of third persons against notaries, and the punishments of delinquent notaries.

In Italy, the French system of notaries has been followed in its main features. In Germany, however, the notaries occupy but a subordinate position in most states, and it has been now almost generally established by law, that only persons who have studied law for several years can be appointed as notaries.

In England, notaries were known, as public officers, before the Norman Conquest, and at a very early period they were employed to attest and authenticate instruments of moment and solemnity. But whatever their duties and functions may have been in former times, at present they are described to be, by Richard Brooke, in his treatise on the office of a notary public of England, as follows:

"In England, a notary is a public officer of the civil and canon law, who derives his faculty or authority to practise from the Court of Faculties of the Archbishop of Canterbury in London, the chief officer of which is the Master of the Faculties, to whom applications are made for the admission, or removal under any special circumstances, of notaries in the Institutes of the Laws of England, the Court of Faculties is stated to be a court, although it holdeth no plea of controversie (like the Court of Audience next before). It belongeth to the archbishop, and his officer is called Magister ad Facultates.""

The functions and powers of a notary in England are, to draw and prepare deeds relating to real and personal property, to note and protest bills of exchange, to prepare acts of honor, to authenticate and certify examined copies of documents, to prepare and attest instruments going abroad to receive the affidavits or declarations of mariners and masters of ships and to draw up their protests, and to solemnize all other notarial acts.

"The expression, notarial act," says Mr. Brooke, "is one which has a technical meaning, and it seems generally considered to signify the act of authenticating or certifying some document or circumstance, by a written instrument, under the signature and official seal of a notary; or of authenticating or certifying as a notary some fact or circumstance, by a written instrument, under his signature only."

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The English notaries have always considered themselves entitled to administer oaths, affidavits, and affirmations, as within the powers and functions of a notary; and the Act of 5th and 6th William IV. has placed it beyond dispute.

The requisitions for admission to the Faculty of Notaries in Er gland are an apprenticeship or clerkship of five years with a notary, a certificate from two notaries certifying to the candidate's skill and probity, and that he is a proper person to become a notary. Upon due proof of these facts, the Master of Faculties will admit him upon his taking the prescribed oaths, which are the oath of allegiance, the oath of supremacy, the oath of due service under the articles of clerkship and for the faithful exercise of the office of notary.

A notary is liable to be struck off the Roll of Faculties, for any malpractice or misconduct in his office, on a complaint made to the Master of the Faculties, and supported by affidavit or other proof.

In the United States, the duties and functions of notaries resemble those of the same officers in England. They are appointed by the respective Governors of the States, for a limited number of years or during good behavior, and derive their powers by the statute laws of the States; and in cases where these laws do not specify their powers, as, for instance, in Massachusetts, it must be presumed that all the powers which by general usage, the custom of merchants, and law of nations are generally exercised by these officers, are also vested in them. We may state their general and customary functions to be, to demand acceptance and payment of foreign and inland bills of exchange and promissory notes and to protest the same for non-acceptance and non-payment, to note and draw up ship protests, and all other protests which are customary according to the usage of merchants, and to exercise such other powers and duties as by the law of nations and according to commercial usage or by the laws of any other State, government, or country, may be per. formed by notaries public.

But although notaries public are generally considered as accredited officers in other countries, and affidavits sworn before and instruments authenticated by them are received in evidence in foreign courts, it is required by foreign courts, that the consuls of the respective foreign states in which the document is to be used certify to the fact that the person whose signature and seal are affixed is a notary public duly appointed. This is, however, not necessary in a protest for the nonacceptance or non-payment of a bill of exchange.

The laws of the different States of the Union, in some instances, give some peculiar powers to their notaries, and hence the laws of each State must be consulted in regard to them. The principal functions of an American notary are, to protest bills of exchange and promissory notes on their being dishonored, and as a part of this function, to present and demand payment of these mercantile instruments. Although the notaries with us generally give notice of the dishonor of bills and notes to antecedent parties, it is not their duty to do so, unless made so by statute, or they undertake so to do as a part of their duty, and then they are liable for any negligence in the discharge of this duty.

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Foreign Laws regarding Bills of Exchange, &c.

We shall give, in the following pages, a synopsis of the law on bil.s of exchange and promissory notes, as recognized in the United States and England, and prefix a general statement of the law on this subject which prevails on the Continent of Europe.

Foreign Laws regarding Bills of Exchange and Promissory Notes.

As the English law agrees, in almost every particular, with that in the United States, we shall here point out only the principal and essential rules which prevail on the Continent of Europe, among the different nations, in regard to bills of exchange and promissory notes. The most important nations are the French and the German. The French Commercial Code on bills and notes has been adopted in a number of other countries, viz. Belgium, Modena, Sardinia, Lucca, Poland, Greece, Geneva, Hayti, Ionian Islands, Turkey and Wallachia, the Papal States, Luxemburg, Tessin and Wallis, with but slight variations here and there; so that, when we speak of the French law, it will equally apply to all these countries.

A new and uniform code of laws regarding bills of exchange and promissory notes has been introduced, since 1849, throughout Germany (with the exception of the small states of the Grand Duchy of Luxemburg, the Duchy of Limburg, and the principality of Liechtenstein), so that when we speak of the German law, it will apply to every one of the thirty-eight States of Germany (excepting the above-named three), including the whole of Austria and her crown-lands, and the whole of Prussia, Wurtemberg, Bavaria, Hanover, Saxony, Brunswick, Baden, etc., containing more than sixty millions of people, and the important commercial cities of Hamburg, Bremen, Frankfort on the Maine, Lubeck, Leipzig, Berlin, Vienna, Trieste, Brunswick, Stuttgart, etc.

There exist yet distinct codes on bills and notes in Russia, Holland, Copenhagen, Spain, Portugal, at Basle, and St. Gallen, which we shall notice where they essentially differ from other codes.

The law on the Continent of Europe, in regard to legal remedies on bills and notes, is more stringent than in regard to other civil contracts, in so far as it allows personal imprisonment for a breach of such a commercial engagement, be it as drawer, acceptor, or indorser; whereas no personal arrest and imprisonment can be had against a debtor for an ordinary debt. When we use the expression, that a party is liable according to the laws of bills of exchange, it must be understood, also, to mean, that these extreme legal remedies of coercion may be applied to him.

The time of imprisonment differs in different states, and varies according to the amount of indebtedness. The French law allows personal imprisonment not exceeding one year, if the debt does not exceed 50 francs; two years if the debt does not exceed 1,000 francs; three years for a bill of from 1,000 to 3,000 francs; and four years for a debt of from 3,000 to 5,000 francs, and five years for any sum beyond this. But persons of the age of seventy are entirely exempted from arrest, and parties to promissory notes (billets à ordre), if not merchants, ex

cept the notes were given on account of some mercantile transaction, traffic, exchange, banking, or brokerage, are also free from personal arrest in France.

In Austria, the imprisonment for a debt on bills cannot exceed one year, in Prussia, five years; other German states differ in regard to time, but they are, generally, less rigorous than the French law, and exempt from arrest, beside persons of the age of seventy, various others; for instance, relations by blood or otherwise, military persons, public officers, &c. The creditor, however, has to bear the expense of board for the debtor, and if he neglects to provide for it, the debtor is released and cannot be arrested again.

Requisites of Bills of Exchange.

A bill of exchange is called in French Lettre de Change; in Italian, Lettera di Cambio ; in German, Wechsel, or Gezogener Wechsel (a Drawn Bill, to distinguish it from a promissory note, which is called a Dry Bill, Trockner Wechsel). (See Promissory Notes.)

The essential requisites of a bill of exchange in Germany are (Art. 4):1. That the word "bill of exchange" (Wechsel) be contained in the instrument, or, if written in a foreign language, the expression corresponding to it. 2. The specification of the sum of money. 3. The name of the person or firm to whom or to whose order it is payable. 4. The statement of the time of payment; and this can be made only on a day certain, at sight (a vista, etc.), or at a certain time after sight, or at a certain day after date, or at a certain fair (Messe). 5. The signature of the drawer, by his name or firm. 6. The statement of the place and date of month and year where and when it was drawn. 7. The name of the person or firm on whom it is drawn (Drawee). 8. The specification of the place of payment; if no place is mentioned, the place of the drawee is to be taken as the place of payment and the domicile of the drawee.

The bill must be for the payment of a sum of money, and not for goods or state stocks; nor can it be made payable with interest, or with any condition attached to it.

The Code of the Kingdom of the Two Sicilies allows also payment in goods.

The bills of exchange payable to bearer (au porteur) are not admissible, either in Germany or France.

The French law (Art. 110) requires that bills of exchange shall be drawn from one place on another place; that they shall be dated, and that they specify:1. The sum to be paid. 2. The name of the person who is to pay the same. 3. The time when, and the place where, the payment is to be made. 4. The value furnished, whether in money, in merchandise, in account, or in any other manner.

They are drawn to the order of a third person, or to the order of the drawer himself. If they be drawn in sets, 1, 2, 3, etc., it must be so expressed.

Art. 111. A bill of exchange may be drawn upon one person, and