Richmond palladium. [volume] (Richmond, Wayne County, Ind.) 1831-1837, 1836-07-23
NUE. BILL.

aEvEN BILL.
-. following abstract of the late
- congress for regulating the
,...;,es has been prepared with
~. and will give a very good idea
= a. provisiops Of the bill:
49, Evansville Gazette.
s,ero, lst makes it the duty OF
4. Secre iary Of the Treasury to Sc
w., ~ and employ rs repositories OF the
s...v Of the United States, such
80. ar Territorial Banks, as may be
~. convenient to the points at
- the revenues may be collected
:. G.bur,ed. and in case there can be
so-hanks 20 employed, he may make
".,.e>ants with some bank 10 es-
..hl;S an seency where the public
s.~~es;epcs would be promoted by a
S.,cs;tory. At least one such bank
:, .sspey shall be selected in each
80 q territory: the secretary shall
- sdsr to remain in any depcsite
~ a amount Of public money
.ore ,hsn equal to three-fourths ofits
..a;sd stock actually paid in, for a
;.seer time than may be necessary TO
80 him to make the transfers re-
orsd by the 18th section; and tho
isaLs 30 selected, shall be, in his
.aa;na, safe repositories Of the public
10y. and willing to perform the
sysrsl duties prescribed'by this act
Sc. ID. II, at any point at which
A. vvenue may be collected, bank
unsot be procured, which IN the
soaion Of the secretary, is IN a safe
sspGtion, he may order the money
ecuected at such q point to be dsposl-
II m an adjacent state bank.
Ssc. Sd. No bank shall be selected
"a depository until it shall have fur
aished the Secretary with q state
mat efi,s condition and business, a
lit Of its directors, the current price
Gifts stock, a copy Of its charter, and
such other information as may enable
him to Judge Of the safety Of its con-
ditiOn.
Src. eth. Before the banks shall be
employed as repositories for the pub.
lie money, they shall agree to Sc
cure the same upon the following con
&tions:
First. Each bank to furnish the
secretary with a weekly statement Of
|hs account on it, books; and the Sc.
esstary to have the right, by himself,
|ss agent, to inspect such general &C.
counts in the books Of the bank as
shall relate 10 the said statement; but
this is not 10 be so construed rs to
! give the right TO inspect the accounts
Of any private individuals.
Secondly. To credit, as specie, all
sums deposited therein to the credit
! Of the Treasurer OF the United States,
and to pay allchecks,warrants, drafts,
drawn on such deposites, in specie, If
required by the holder thereof.
Thirdly. To give, when required
fby the secretary, the necessary facil-
tiles for transferring the pubic funds,
from place to place, and for dvtriou-
ting the same in payment OF the public
creditors. without charge.
Fourtaly. TO render to the Gov
eminent all the duties heretofore re-
|quired Of the late Bank OF the United
Estates and its branches.
SEC. 5th. No bank shall be selected
which shall not redeem its notes on
demand in specie; nor shall any bank
Be- selected, which shall, after the 4th
Of July, 1886, issue notes Of a less
denomination than FIVE dollars; nor
will the notes Of any bank issuing
notes Of less denomination than So,
b received after the 4sh Of July.ls36,
u payment Of debts due the United
States.
SIC. 6th. Authorizes the Sc :retary,
whenever in his Judgment it shall be
necessary or proper, TO require OF any
eaak 80 selected, collateral or add.
tcaal securities for the safe keeping
% the moneys deposited therein. and
Ne faithful performance OF the duties
required.
SEC. I. The Secretary shall enter
INTO contracts with the banks in the
name and for and on behalf of the u.
States.
SIC. 8. The public money shall
NOV Dc Withdrawn from any deposite
oank without good and sufficient rea-
sons, which the secretary is bound to
report to Congress, and Of the sutfi-