Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1834-03-20
REcHARTER OF THE BANK.

On Tuesday, in the Senate, Mr.. WEBSTER
rose to introduce the bill of which he had given
notice, and which is as follows:
A RJJL, to continue, for the term of six years,
the act entitled " An Act to incorporate the
subscribers to the Bank Of the United States"
Re 1t enacted, &c. That the act entitled Z" An
Act to incorporate the subscribers to the Bank
of the United States" approved on the tenth
day of April, in the year one thousand elght
hundred and SIXTEEN shall continue IN 1ull force
and effect for the term of six years, from and
after the period therein limited for its explfa-
ton to wit: the third day Of March, in the year
one thousand eight hundred and thirty-six; and
that all the rights, interests, properties, powers,
and privileges secured by the same act, with all
the rules conditions, restrictions, and duties
therein prescribed and imposed, be and remain
after the said third day of March, in the year
one thousand eight hundred and thlrty-slX DUR
ing the said six years as if the SAID hmlta!lon'
in the said act, had not been made: Proutded,
nevertheless that so much of the said act as de-
clares that no other Bank shall be established
by any future law of the United States during
the continuance of the Corporation thereby
created, shall not be continued by this act; but
that it shall be lawful for Congress, whenever it
shall see fit to establish any other Bank, to come
into existence and operation at any time on or
after the fourth day of March, one thousand
eight hundred and thirty-sX.
! Sec 2. And be 1t further enacted, That all
public moneys accruing to the United States,
and becoming payable from and after the pas
sage Of this act, in places where the said Bank,
or any of its offices, is established, shall be de-
posted in the Bank of the United States and its
offices are heretofore; Prorided that, at any
time after this act shall have been accepted,
Congress may, by law or jointresolution, cause
such moneys to be withdrawn and removed to
| any other custody or place Of deposite.
! Sec. 3. And be 1t further enacted, That, in
consider alton ofthe benefits and privileges con-
ferred by this act, the said Bank shall pay to the
United States the annuity or yearly sum of two
hundred thousand dollars, which said sum shall
be paid, by the said Bank on the 18th day OF
March, in each and every year, during the said
term of six years.
Sec d. and be 1t further enacted, That Con-
gress may provide by law, that the said Bank
| shall be restrained, at any time after the third
day Of March, in the year one thousand eight
hundred and thirty-sX, from making, issuing, or
keeping in circulation, any notes or bills of said
Bank, or any Of its Offices, of less sum or de-
nomination than twenty dollars.
Sec. 5. And be IL further enacted, That at any
| time or times within the last three years OF the
existence of said corporation, as continued by
this act it shall be lawful for the President and
Directors to divide among the several stock
holders thereof, such portion of the capital stock
|
drawn from active use, and may judge proper
so to divide.
Sec. 6. And be 1t further enacted, That so
much of any acts Of Congress, heretofore pas
sed and now in force, supplementary to, or in
any wise connected with, the said original act
Of incorporation, approved on the tenth day of
April, in the year one thousand eight hundred
and sixteen, as it not inconsistent with this act,
shall be continued in full force and effect during
the said six years, after the third day of March,
in the year one thousand eight hundred and
| thirty-siX.
! Sec T. And be 1t further enacted, That it shall
be the duty Of the President and Directors ofthe
said Bank, on before the first day of the next
session of Congress, to signify to the President
of the United States their acceptance, on behalf
of the Bank of the United States of the terms
and conditions in this act contained, and they
shall fail to do so on or before the day above
mentioned, then this act shall cease to be IN
| force