Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1816-04-20

'nrpius OF the profits, If any, ater deductinr los
IS ana dividends. IL there shall be a failure in
vhe payment o. any part of any sum subscribed
% the capital of the said bank by any person CO.
partnership or body polite, the parts filling shall
ose the benefit OF any dividend which NAV have
lccrued PRIOR to the time for making such pay
nent and during the delay of the same
ID The directors of the said corporation shall
! establish competent Office of discount and de
poste n the District of Columbia whenever anv
\ law OF the United States shall require such an
! establishment also one such office of discount
and deposit in any State in which two thousand
shares shall have been subscribed or NAV be held
w'enever, upon application of the legislature of
such state, Congress may, by law. require the
4 same Proptded, the directors aforesaid shall
not be bound to establish such office before the
whole OF the capital of the bank shall have been
PAID up. And it shall be lawful for the direct
tors OF the SAID corporation to establish offices nj
discount and deposite, wheresoever thew think fit
within the United States or territories thereof
and TO commit the management of the said off.
ces, anu the business thereof, respectively, to
SUCH persons, and under such regulations as thew
shaii deem proper, not being contrary TO law or
the constitution of the bank. Or instead of est.,
olishng such offices, it shall be lawful for the a
rectors OF the SAID corporation, from time tn time
to employ any other bank or banks, TO be first an,
proved by the Secretsry of the Treasury. At any
place or places, that they may deem safe and
proper, 10 manage and transact the business pro.
Poseo as aforesaid, other than for the purposes
otdiscount, to be managed and transacted by such
orhces, under such agreements, and subject tn
such regulations as they shall deem lust and
proper. Not more than thirteen, nor less than
seven managers or directors of every Office esta.
blIshed as aforesaid, shall be annually appointed
ny the directors ofthe bank to serve one wear :
'hey snail choose a president from their own
| nj t1,a,r I'm
United States, and resident of the state terrific.
ny or district wherein such office is established :
and not more than three-fourths of the said man.
ayers or directors, in Office at the time of an an
nual appointment, shall be re-appointed for the
next succeeding year and no director shall hold
hiS office more than three years out of four, in
succession but the president may be always re-
appointed
| Is The officer at the head of the Treasury
department of the United States shall be furnish
| ed from time to times often as he may require
not exceeding once q week, with statements of
| the amount of the capital stock of the said cor
poration and of the debts due to the same ofthe
moneys deposited therein of the notes in crcu
lation, and of the specie in hand and shall
have right to inspect such general accounts IN
the books of the bank as shall relate to the So d
statement: Provided, that this shall not be con
strued to imply right of inspecting the account
OF any private individual or individuals with the
bank.
16. No stakeholder, unless he be citizen of
OF the United States, shall vote in the choice of
directors.
II. No note shall be issued of less amount
than five dollars.
Sec. ID. .4nd be IL further enacted That il the
said corporation, or any person or persons, for
OF TO the use OF the same, shall deal or trade in
buying or selling goods, wares, merchandise or
commodities whatsoever, contrary to the provi-
SONS OF this act, all and every person and persons
by whom any order or direction for so dealing
or trading shall have been given and all and e.
very person and persons who shall have be en- com
cerned as parties or agents therein shall forfeit
and lose treble the value of the goods, wares. and
merchandise and commodities in which such dea
ling & trade shall have been one half thereof tn
the use OF the informer, and the other half to the
use OF the United States, to be recovered in any
action of law with costs of suit
Sec IL. find Be it further enacted That If the
SAID corporation shall advance or lend anv sum
of money for the use or an account of the Govern
ment OF the United States, to an amount exceed.
ing hive hundred thousand dollars or of nv par
ticular state, to an amount exceeding fifty thou
SAND dollars; or ofany foreign prince or state
lunless previously authorized hereto bv a
law OF the United Sta'es,) all md every per
son or persons, by and with whose order. agree
merit, cons ent, appreciation, and connivance. such
upon convection thereof shall forfeit and paw, for
every such offence, treble the value or amount of
the sum or sums so unlawfully advanced or lent
one fifth thereof to the use of the informer. and
the residue thereof to the use of the United
States.
Sec. Ia find be IL further enacted, That the bills
OF notes OF the said corporation originally made
payable, or which shall have become PAYABLE
on demand, shall be receivable in payments 10
the United States, unless otherwise directed bv
act of Congress.
Sec Is. .4nd be IL further enacted That du
ring the continuance of this act, aud whenever
required by the Secretary of Treasury, the said
corporation shall give the necessary facilities for
transferring the public funds from place to place
within the U S. or the territories thereofand for
distributing the same in payment of the publ c
creiitors, without charging comm ssions or claim
Ing allowance on account Indifference ofexcbanpe
and shall also do and perform the several and re
SpectVe duties OF the commissioners of loans fo,
'he several States, or any one or more of them,
whenever required by law
Sec 10. .4ud6e HJu-ther enacted That the
deposites OF The money of the United States. ~
places N which the said bank and branches he 3
OF may be established, shall be m de in said bank
or branches thereof, unless the Secretary of the
treasury shall at any time otherwise ord err and
direct IN which case the Secretary ofthe Urea
sury shall Immediately lay before Congress. If M
session, if not, immedia- ely after the commence.
nent, OF the mex session, the reas us of such or
der or direction.