The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1816-06-12

Scuk'ese Utoys oy law, require tno bdmc
Provided, the directors aforesaid shall not /
bound TO establish such Office before the who
OF The capital Of the bank shall have been pal
up. And Il shall be lawful for the direcloi
Of the said corporation to establish officcs ,
discount and dcposite, wheresoever they sha
think fit, within the United States or the te'
ritofie, thereof, and TO commit the mansg,
ment Of the said Offices, and the busine,
thereof, respectively, TO such persons, an
under such regulations as they shall deei
proper, not being contrary 10 law or the col,
s,i,ullon Of the bMl Or instrsd Of es,aI
lishipg such offices, IL shall be lawful for IL
dirscssss Of the said corporation, from Tin
go sisNs, . employ any other bank or bark
to be 6rsf approved by the Secretary of "a
Treasury, a. aoy place or places, tha, the
may deem safe and proper, TO manage On
transact the business proposed as aforesaid
other than for the purposes Of discount, TO {
managed and transacted by such offices, vi
der such agreements, and subject to sue
regulations as they shall deem Just and pr(
per. Not more than thirteen, nor less the
seven managers or directors, Of every ofiit
established as aforesaid, shall be annually af
pointed by The credi'ors OF the bank, 10 setv
one year: they shall choose presiden, fro
'heir own number (: each of them shall he
citzeh of tho United States, and resident
the state, territory or district wherein SUI
Office is established and not more than n 20,
fourths OF the said managers or directors, 4
Office at the time of on annual appoip,mer
shall be re-appointed FOR the next succeeded
year; and no director shall hold his ofli{
more than threo years out Of four, In succe
slon; but the president may be always rc.a
pointed.
IS. The officer at the head OF the Treasu
department Of the United States shall be fu
nished, from time to time, as ofen as nc m
require, no, exceeding once o week, wi
statements OF tho amount of the capital stot
OF the said corporation and Of the debts d,
to the same; OF the moneys deposited tbcry
in Of the notes in circula,ior, and Of ~
specie 10 hand and shall have a right 10 i
spect such general accounts in the books [
the bank as shall relate TO the said statemeh
Provided, that this shall not be construed ,
imply right Of inspecting the account of
private individual or individuals with the bar
Of the Hniieashassa sSsSs vote I'd fns tsh7 tsho7i
cf dircctors
II. No noto shail Be issued Of less amot
than Eve dollars.
Sec. ~. .dnd br il further enacted, Thht
the said corporation, or any person or persoA
for or To the use Of the same, shall deal (
trade in buying or selling goods, wares, tn{
cbandiso or commodities whatsoever, cont
ry to the provisions Of thi, act, all and eve
person and persons, by whom any ordetl
direction for so dealing or trading shall hS
been given and all and every person D
persons, who shall have been concerned
psr,ie. or agents therein, shall forfeit and d
treble the value OF the goods, wares, roerehl
dize end commodities in which such deali
and trade shall have been one half thereof
the use of the informcr. and the other hal
the use OF the United States, to be recovct
in any action Of law, with costs Of sui,.
Sec IS. HnS be ii further enaefed, Th3
tho said corporation shall advance or lend
sum Of money for the useor on accouD'
the government Of the United States, TO
amount exceeding FIVE hundred thousand q
lars or Of sny particular state, to an smo
exceeding fifty thousand dollars ; or Of
foreign prince or ata,c, (unless previously
,horized there,oby law OF tho United Stat
oil and every person and persons, by and v
whose order, agreement, consent, spprobai
and eonnivance, such unlawful advance
loan sball have been made, upon coovlce
thereof shall forfei, and pay, Cor every S
offence, treble the value or amount Of
sum or sums which have been so unlawf
advanced or lent one fifth thereof to the
of tho in iormcr, and the residue Thereof
the use OF the United States
Sec. "a. And be 4: further enacted, That
bills or notes tho said corporation origin
made payable, or which shall have beet
payable, on demand, shall be receivable IL
payments TO tho United States, unless OF
wise directed by ac, Of Congress.
Gee. Is. And be ii further enacted, :
during the continuance of this act, and W
ever required by the Secretary Of Treas
the said corporation shall give the neces
facilities for transferring the public
from place to place, within the United St
- E.. l;,s.,L,,sou n. Sa1nc IN pavrns.