Martinsburgh gazette. [volume] (Martinsburgh, Va. [W. Va.]) 1810-1825, 1811-02-22
Congress of tDe tlnitso States.
Nv SENATE.
TUESDAY,, February S.

lowing Oil, which was read aud Passed 10
a second reading.
A BILL
To amend and continue in force an act, en-.
titled ' An act to in%corporatethe subscri-
bers to the Bank of the United S~tates."
passed on the twenty. Fifth day of Februa-
~, one thousand seven hundred and
ninety one.
BE II enacted by the Senate and House
of Representatives ofihe u. States of Amc-
RIGA. IN Congress assembled, That the act,
entitled Ao act to- incorporate the sub
scribers to the Bank of the United States"
passed the twenty. fifth day ct February.
one thousand seven hundred and ninety one,
be, and the same is hereby continued in
@ioree, until the fourth day of March. in ths
Year OF our Lord one thousand eight hum
dred and thirty one, subject to the condi-
ions and restrictions hereinafter specified.
Sea-. And be it further enacted, Ihas
the President and Directors Of the said
Bank of the United States shall ON or be.
fore the first day of October next, pay into
the Treasury of the United States, for the
use thereof, the sum Of
Sec. ). And be il further enacted, That
ttAS Soidtht uud oICStoio III III oalu k16DkS
shall at all times, from and after passing Of
this act be bound to make a loan or loans,
TO the u. s. ii required and authorised by
law, OF any sum or sums Of money, not ex-
ceedlng in the whole, one third Of the capi-
tai stock of the bank, actually paid IN,
which shall be reim5urssblc at the plea.
sure Of the United States; aud shall bear
such rate OF interest, not exceeding six per
centun per annum, as may be agreed upon;
but the said President and directors shall
not be bound to pay more than one fourth
OF that amount within any term af three
nonths: Provfded nevertheless, That APP
plicaticn, IN wrlung, be made to the Pfesi-
dent aud Directors Of the said bank, for
such loan or loans, at least three calender
months prior TO the time When such loan or
loans, shalt be required.
Sec. 4 Aud be- it further enacted, Thas
the President aud Directors of the said
Bank, shall, after the fourth day Of March
next, pay 10 the United States, an interest
at the rate Of three per centum per annum,
on all sums Ut monsy, above the sum of one
million OF dollars, which shall accumulate
to the credit OF the United States, in The
said Bank, or in the branchs. thereof which
the s-sse.arJ of the treasury may agree shall
remain therein for the term OF ozc wear
Prcvidsd, That it shall be The dairy Of the
said secretary from time 10 time. to give
notice, in writing. to the aid President
and Directors, at lesst 90 days before the
time at which the said interest shall begin
TO accrue and be computed; which notice
shall specify the exact ar.ouut OF the deposits
and the term Tor whicla it shall, remain in the
Bank, which term may be continued from
time TO time, upoI the like notice.
Sec. S. And bel il further enacted, That
the United States shall At any nine, during
the existence Of the corporation Of the said
Bank, be aS4horised to increase the capital
stock ! seof, 20 m amount, not exceeding
i'm whole, twelve thousand Ave hundred
spares, and not exceeding in any one year,
two thousand FIVE hundred shares, in such
manner As may hereafterb be proyidedby law;
and for which the United States shall be the
subscriber and owner.
Sec. 6. Aud be il further enacted, That
during the time The United States shall bo
the proprietors of stock in the said corpo-
ration, they shall have the right annually to
appoint such proportion of the Directors
thereof as the stock which they hold at the
time of such appointment shall bear TO the
whole stock of the sid corporation, includ-
ing the stock subscribed on the part OF the
United States, which right shall be exer-
cissd by the President Of the u. States,
by and with the advice aud consent OF the
Senate ; and no director, SO chosen, shall
be removable by the President of the Uni
ted States, during the time for which ha
was appointed.
Sec. 2. And be il further enacted, That
the directors chosen by the stockholders OF
the said corporation on The first Monday IN
January, of the prescntyear, and the presi-