The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1815-01-11

AN ACT

AN All ,
Supplementary TO an act laying duties on notes oi
banks. bankers. and certain companies on notes,
bonds and obligations, discounted by bank, BAN
kcrs, and certain companies; and On bills Of ex-
change OF certain descriptions,
BE IL enacted BY the Senate aud House of Represenr
fofires Ms U'ased States Of .imeraca Csngress
sembied, That in RESPECT the stamp duties of any
Of the notes of private bankers which are subject by
law to such duties 1t shall be lawful for the Secre-
tary OF the Treasury to agree to annual compost
ton, in lieu thereof, with any of the said private
bankers, at the rate of and half per cen;um
the amount of the annual profit made BY such pri-
rate bankers respectively upon the capital employ
ed in the business OF their respective banks to be
ascertaned as is hereinafter provided
Sec tie o. further enacfed, That eve ~ ps
vae banker. who shall be dssrous to enter into the
composition aforesaid, shall, at the time OF propos
ing the same, transmit 10 the Secretary Of the Trea
sury statement varied by his own cath or sffirma-
tion and that OF his Cashier, principal clerk, Of
the amount OF the capital employed, or 10 be en-
pioyed in his bank, anG the charges and expenses Of
conducting the business thereof, in such detail as
shall be satisfactory TO the Secretary of the Treasu
ry. And every private banker after entering into
such composition, shall keep weekly account of his
discounts ISSUES ot bark notes, and DEPOSITS, and
SHALL once IN every month, transmit to The Secreta-
ryof the Treasury transcript thereof, verified by
oath or affirmation as aforesaid; and he shall also,
half yearly, make and transmit to the Secretary of
for the preceding half year. verified aforesaid.
Sec. 3-.ind be % further enacted That for the
purpose of carrying such compositions intc effect,
the seorelagyof the Treasury may, from time 10
lne, estimate the profits Of uie said private bar
kers respectively, either according the amount of
The capital by them respectively stated to be employ
cd IN the business of their respective banks aore-
said, aad Tie half yearly profits by thsM respective
y ed TO be actually made thereon as aforesaid or
according TO the amount Of the capital, which, up
on ihe general principle and practice of banking,
would be requisite ana proper for conducting the
business of bank, to the extent appearing upon
the said monthly returns Of the said private bankers
respectively, and the usual profits made upon such
capital And the said private bankers, respectively.
shall payto the Collector of Internal Duties for the
District wherein their banks respectively estab-
llshed, for the use of the United States, compost
ton in lieu of the said stamp duties at the rate of
one and half per centum on the profits Of their
speeuve banks, estimated and ascertaned ia
either of the modes aforesaid.
LANGDoN CHEvES,
Sbsaker Of Sie House Of Representatives..
JOHN GAILLARD,
81, President, pro tempore, Of the. Senate
December io,lel4.-.9eprSped JAMES MADISON.
CNo 19l AN ACT
Supplemental TO the act authorizing loan fer the
several sums OF twenty-five millions Of dollars
and three millions Of dosrA
BE t enacted by the Senate and House Of Represen
fr..ss. the United States Of 7meriea conrress osl
semoes, rnae stS S.oss~' "a tIic rrS~s~'y u~ --"
he is hereby authorized with the appreciation OF tie
President of the United States, to cause treasury
notes to be prepared, signed and issued, for andin
lieu of much Of the credit of the United States,
by the act of Congress, entitled An act to author
ize loan for sum not exceeding twenty five mil
lions of ofd0ars,' passed on the twenty yfourth day
of March, in the year one thousand eight hundred
and fourteen and also for, and m iI,u OF much
of the sum authorized 20 be Borrowed the credit
Of the United States by te'act Of Congress, entitled
" An act authorizing a loan for the sum oil three
millions OF dollars, passed on The fifteenth day of
November, in the year one thousand eight hundred
and fourtcen,as has not been borrowed otherwise
employed IN the issue OF treasury notes according
to law; Propidcd always, That The whole amount OF
treasury notes Issued by virtue of this act for and
in lieu Of the residue Of the SAID two afore
said, shall not exceed the sum Of millions FIVE
hundred thousand dollars and further, that the
treasury notes SO issued shall be applied TO the same
uses to which the said two loans authorized as a.
foresaid weS. respectively by law made applicable.
Sec. 2--.7nd be 10 further enacted, That the Sec.
retary of the Treasury De and he is hereby autorz
ed, with the appreciation Of the President Of the u
Dted States to GAUGE treasury notes to be prepared,
signed, and issued, for further of three mil
lions of dollars, to defray the expenses Of the war
department, for the year one Thousand eight hum
ded and fourteenth addition to the heretofore
appropriated by law for those purposes respectively
Sec. 3--.4nd be n further enacted, That the
treasury Eotes, to be issued by virtue of this act,
shall be prepared, signed, and issued, in tho like
form and manner shall be reimbursablc al the same
places, and in the like periods; shall bear the same
rate Of interest; shall in the like manner be trans
ferable and shall be equally receivable in payments
TO the United States for duties, taxes. and sales OF
public lands the treasury notes issued BY virtue
Of the act Of Congress, entitled An act TO author.
ize the issuing Of treasury notes for the service Of
the year thousand eight hundred and fourteen"
passed on the fourth day Of March. in the year a.
foresaid. And the secretary Of the treasury, with
the appreciation Of the President of the United
States, shall have the like powers in all respects,
sury notes authorized TO be issued by this act
borrow money the pledge thereof; and to employ
and pay agen, or agents for the purpose of max.
ing sale thereof, as were vested in him by the said