Cheraw gazette. [volume] (Cheraw, S.C.) 1835-1838, 1836-07-05

-,.sa y.a..I -. = .C - gif SsfEetaIl.ss
ployed as the ;depositories Of the pubic
money, shall agree To- receive the Same
upon the following terms and conditions.
viz: ,asyj -,3f.sl sa1aff 2lseafEs t'fi
First. Each bank shall furnish to the
Secretary of the Treasury, fromrfimes TO-
time as often as he may requires notqex-
ceeding once week, statements selling
forth its condition and business, ss pre-.
scribed ia the foregoingssctioa Of this oct;
except that such stateme0ts need aota IN.
less requested by said Secretary, contaip
list OF The directors, ora. copy OF the
charter. And the said banks, shall fur
nish to the Secretary Of the treasury OF
the United States, a weekly statement OF
the condition OF his account Upon their
books. And the Secretary ofthe Treasu.
ry shall have the right, by himself, or an
agent appointed for that purpose, 20 m
spect such general accouBtsin the books
ofthe bank as shalt relate TO the said
statements /: Proeidsd, That this shall
not be construed to imply a right Of IN
specting the account of any private indi-
yiduals with the bank, a''5.,..
Secondly. To credit as specie all suf,s
deposited therein to the credit Of the Trea.
surer Of the United States, and q. pay oil
checks, warrants, or drafts drawn on such
deposites, in specie if required by the
holders thereof. - -. -. Is,,;,;s,.,.,.
Thirdly. To give Whenever required
by the Secretary Of the Treasury, the ne
cessary facilities for transferring the pub
Tic funds from place to place; within ne
United States and the Territories thereof,
and for distributing the same y. Payme1t
of the public creditors, without charging
commissions or claiming allowance on ac-
count Of difference of exchange. "a 8. 81,
Fourthly. To render 70 the Govern
ment of. the United; States all sthe duties
and services heretofore required ~ law 20
be performed by the late Bank OF the Gns.
ted States and It's several branches and Of
fices.a y.y.9 - 80 -: -,
4 SEC. S. And be it further enacted. Tsat
no bank shall be selected or continued rs
place of depositsiof the public money
which shall not redeem its notes and Dilis
on demand IN specie nor shall any seanK
be selected asTaforesaids which shah
after the fourth of July, 10 the year Uhe
thousand eight hundred and thirfa'xs
issue or pay out any note or bill of less
denomation than five dollars ;Fnor shall
the notes and bills Of any bank be recelv-
ed in payment Of any debt due 10 Che Uni.
ted States, which shall, alte: the said
fourth day Of July, III the yaar enc shon-
sand eight hundred and thirtyssix. issue
any note or bill Of less denomination
than five dollars.
F Sec. 6. Apd, be it further eaaeted, That.
the Secretary Of the Treasury shall pc and
| he Is hereby authorised and il shall be BIS
duty whenever inhis judgement il shalfbe.
necessary or proper, to require OF any
bank SO selected and employed as afore
said, collateral OF additional securities TOR
! the safe Keeping ofpublic moneys deposit
ed therein and the faithful ;psEformance-
fthe duties requifcd 6y this 4. a;g
Sec. 7. And be it further sndded, Ehat
! it shall be lawful for the Secretary q the
Treasury to enter into contracts IN tne
name and for and on beheaH Of the Uni
lied States, with the said banks 50 select
ed or employed whereby tbe, sad banks
shall stipulate to do aud perform the sey.
eral duties aud services prescribed 81 ais
I act. .i .a
Sec. 8. And be 1t further esected That
no bank Which shall be selected oremployed
.as the place Of deposite Of the public ssosey,
/ shall be discontinued as such depository, or
the public money withdrawn tfieretpsn, ex-
cept for the causes hereinaiter mentioned !:
that is to say, if, at any time, any one Of
said banks shall fail or refuse to perform
any of said duties or services as prescribed
By: this act, and stipulated 70 be perfcfmed
byits contract; or, If any Of fsId banks shall,
at any time, refuse opay it's own notes IN
specie if demanded, or shall iait TO Keep iE
Tits vaults such an amount Of specie as shall
4 be required by the Secretary OF the lreasu-
ry, and shah be, in his opinion, necessary 70
render the said bank safe depository pt the
public moneys, having due regard zone
nature eofthe business transacted by tlI1n !;
in any and erery such ease i shal y stne
duty Of the Secretary Of the treasury 9, 3,
discontinue any such bank as . deposseos ],
and withdraw from it the public moneys
which it may hold on deposise g the TINE I
i of spch continuance. And in case Iot me
d;scontinuance Of any of said banks, i shall
be the duty of the Secretary ofthe Tiessry
to report 10 Congress immediately. { = sss.
sion, and, if not in session, then at the com,
mencement of its next session, OF the facts
and reasons which have induced such dls.
continuance. And in case Of the diconha,
,,,,,c,a oe on,, of 'ea;d hanks aS q MACE of