The enquirer. [volume] (Richmond, Va.) 1804-1815, 1811-01-10
Fa1DAy, Jan T.

ofrhe Ustfed SsGtes," on che sersxs crd
conditioms thereis, mentioned
BE az ea.,c.ed, &c. That the act to Incorporate
the subscribers 10 the bsnt, Of the United States
Passed the 2Sth day Of February, in the year of
our Lord 1871, be and the same is hereby con
honed an force, subject 60 the provisions and
conditions in this act specified, for and during
tlc further term of wears from and
after the 9Th day Of March next.
Sxe- 2 Provided however, and be it further
enacted, That the President and Directors ofthe
said bank ot the United States shall, On before
the day of next, pay into
Che treasury of the United States for the use
thereof, one million and two hundred 8. fifty
thousand dollars.
SEE 3. Aud be 1t further enacted, That the
President and Directors of the said bank sh Ill at
all times, trorn and after the passing of this act,
and during the continuance ofthe same, be hoI.
den and bouRd 80 make Il loan or loans to the u
y 1t required and authorised by law, OF any sum
or sums OF money not exceeding in the whole
at any ore time five millions of dollars, reiabur-
sable at the pleasure ofthe u. S. and al rate
OF interest not exceeding six per ceatum per
year: Provided, That it shall, be che duty Of the
Secretary of the Treasury to make his application
m writing to the President and Directors Of the
SAID bank, tor such loan loans, at least three
calendar Dton,hs prior to the time when such
, loan or loans shall be vequired Pyovided also,
That the sum oftwo millions and seven hundred
sad hfty Thousand dollars, borrowed .uying the
year eighteen hundred and ten, shall be consider
ed as part thereof, and that no greater amount
Shall be required in quarter of q year than
one million of dollars dad prOviGeS further, That
all such loans shall be reimbursable at or before
the expiration of tho said term Of
years, unless il shah be otherwise agreed he
tween the said corporation and the u. S.
Sac 4 And be it furt'.er enacted, That If the
said President and Directors shall on any occa-
s'oa tai TO FURNISH any loan or loans, to be re-
CURED by the u. S in the manner herein before
enacted, their corporation shall forthwith be dis
solved ard the power thereofsh cease and de
ternIne, any thing in this act, or in the act here
by continued force, so the contrary thereof in
any wise notwithstanding.
| Sec S. Ard be al fun Their enacted, That the
Dtrecsoss chosen by the stockholders of the said
corporation on the FIRST Monday Of January in the
present year, and the President chosen by the
directors at the FIRST meeting after such cleo
ton, shall be capable of serving by virtue of such
elections, until the first Monday III January, egh.
] teen hundred and twelve
! Sc D. And be it further enacted, That the
| &C, entitled - An act to punish frauds commit
ted or tie bank Of the u S." passed the oath day
CT Eco. 1907, be and the same is hereby con-
tinoed in force, during the continuance ofibc
! SAID corporation, & the same sh,ll at the times
GREATER, and in all respects, be deemed & TAX
! en- to apply 10 the said corporasion, il the same
''lanneT that it has been deemed and taken to APP
| ply 20 the same heretofore.
SEC And be it further enacted, That the
President and Directors of the said bank shall AZ
| ter the fourth day OF %arch next, pay to the U
D an interest at the rate OF three per centum per
year on all sums Of money above the sum Of
millions OF dollars, which shall accumulate 20
! the credit OF the treasurer of the u. in said
[ Bank, or IN the branches OF the same and whici
! stall remain there for Provided Il shall
ne the duty of the Secretary Of the Treasury,
from time TO time, to give notice in writing, to
the President and Directors, at least days
| octor- the term time at which the said inter
est shall begin to and be computed |;
which notice in writing shall specify the exact n
mount ofthe deposit so TO remain for the whole
/ year ss aforesaid.
SEE 8. And be it further enacted, That the u
y shat be authorised, al any TINE during the
continuance of this act; to increase the capital
stock OF the said corporation, in such manner as
may be hereafter prescribed by law, & for which
the u s shall be the subscriber, and own to an
amount not exceeding IN the whole
shares and not exceeding in any one year
shares Provided, That during the time the U. S.
shall so hold stock in the said corporation, they
shall have the right 90 appoint, in such manner
as shalt hereafter be declared by law, number
not exceeding of the Directors /: Aad
frouided niso,iT the shares thus to be subscri
bed and added, by and OF behalf of the u. S.
| shai' rot Re sold at price less than per
tcentuTn advance on each share.
| SEC 9 Ard be il further enacted, That the
twelfth section ofthe before mentioned act, emit.
titled 90 Anact to incorporate the subscribers TO
| the bank the U. s." passed March ID, 1891,
be and the same is hereby repealed
SEC 10. And be IL further enacted, That it
shall be the duty of the President and Directors
OF the said Bank. on or before the day
OF next, TO signify to the President of the u
y. M writing, their acceptance in behalf of the
ID corporation, of the terms and conditions in
this act contsiued end if they shall fail to do so,
| ON or befor the day aforementioned, then thin
act shsii "eass y he n force.
The bill having been read through fos w.
formation,
Mr.. B0sset made motion for the rejecti-
on of the bill, grounding it o, the CONSTITUTE
oDai objections t. irs passage.
Alter re marks from various gentlemen.
which our " mt of room alone compels US to
omit trr he present
MIR. Bassef Withdrew he motion for
rejection, and moved TO postpone it to Mon
day
After some discussion,
The Speaker decided, that on the first
reading of the bill, if a second reading was
objected to. no motion could be received, but
TO reject it.
MIR. Basset wished a discussion of the
question. Several gentlemen unfriendly to
the bill appeared DESTROYS that It should take
the usual course, and declared that they
should vote against rejection.
Influenced by these suggestions Mr.. Ghol-
son, who had again moved 30 reject the bill,
eithdrew his opposition and the bill was
read z second time and referred 10 a com