Complex sentence: In August 1818, its credit dangerously overextended, William Jones ordered BUS branch offices to reject all state-chartered bank notes, with the exception of those used as revenue payments to the US Treasury.
Split into simpler sentences: In August 1818, with credit dangerously overextended, BUS branch offices began to reject all state-chartered bank notes under the direction of William Jones. Exceptions were made for notes used as revenue payments to the US Treasury.