The Camden journal. [volume] (Camden, S.C.) 1836-1851, 1836-07-09
sOUTHCAROLINA, JULY ., 1886.

. place OF depositc, upon the terms and
,ondi,ions prescribed by this act. And
in default OF any bank to receive such dc.
posi,e, the money thus Withdrawn shall
| bc KEEP, bv the Treasurer of the United
States, according to the laws noWiu force,
and shall be subject to be disbursed accor-
ding to Law.
Secretary of the Treasury shall have Sc
Ilccied and employed the said banks as
places Of dcposi.c Of the public money,
in confoi nifty to the provisions OF shis act,
the several State aud District banks at
prescn, employed us repositories Of the
money of The United States, shsll con-
| ,inue 10 be the repositories aforesaid upon
the terms and conditions upon which they
have been so employed.
s.c 10. .4ud Be il fu,ilsr ezaeisd, That i. shall
! be The duty OF the Secretary Of the Trca-
sury 10 lay before Congress, at The COM
menccmen. Of each annual session,
statement of the number and names Of
the banks employed MS Repositories Of The
public money, and Of their condition, and
The amount Of public money deposited in
each, as shown By .hcir returns at the
Treasury; and il the selection Of any
bank ,s depository Of the puolie money
be made by The Secretary Of the Treasury,
! while Congress is In session, ne shall
Immediately report the name and condi-
,ion OF such bank to Congress; and II any
such selection shall bc made during the
recess of Congress. he shall report The
isame TO Congress during tho first week Of
! its nex, session.
/ sre. II. .ssd be Il js1saer enef,sd, Ths. rhcne
vcr the anoun, Of public dcposiies 70 tae
ercdi. Of the Treasurer of the United
States. in any bank shall, for whole
Iouar,cr Of a year. exceed the one-fourih
nar, Of The amoun, Of the capital stock OF
such bank actually paid in, The banks
shall allow and pay to the United States,
/: for The use Of the excess Of The dcposites
over the onc-four,h part Of its capital, an
iin,crcs, at the rate Of two per ccntun
pcr oanum. to be calculated, for each
quarter, upon the average excesscs OF the
quarter; and i, shall bc tho duty Of the
+. Secretary Of the Treasury. at the close OF
! each quarter, 10 cause the amounts on
'dcposiic in each dcposite bank for the
! quarter, 10 be examined and sieer,ained.
and 10 see that all sums Of interest aceru-
ing under the provisions Of this section.
arc, by tho banks respectively passed TO
,hc credit of tho Treasurer Of the United
S,a,cs in -s>S~s~as ~isss,<a'.-.sa9rctiye
banks.
/; SIr. tc. End ss /: further eac-:sd, That AZ
warrants or orders, 70. the purpose ol
transferring tho public funds from the
banks in which they now arc, or may
/ hereafter DO deposited. 10 other banks
whether of deposiie or not, for tho Pur-
nose Of accommodating the banks 10
which tho transfer may be made. or to
sustain their credit, or Tor any other pur'
pose whatever, except il be TO facilitate
the public disbursements, and 10 comply
with the provisions Of this act. be, and
the same arc hereby, prohibited and do
clsred 10 be illegal; and in eases where
transfers shall be required for Purpose'
Of eoualiza,ion under the provisions o
this act, in consequence Of too great ~
accumulation Of deposises In any bank
such ,ranfess shall bc made TO tho nearcs
deposi,c banks which arc considered SAT-
and secure. and which can receive The mo
news TO bo transfrr, cd under tho limi'a
,ions in this &C, imposed: Pror'ded. Tha
i, mar be lawful for The President OF th'
United States TO direct transfers Of pub
lie money 10 be mado from time 10 Time 4
,bo min, and branch minss Of The Un'ie'
states, fnr supplying metal for Gaining.
sse. II. .7ad b IT, frtae, eaeess4, Thst tho me
ucy which shall be in the Treasury oi III
United states. ON the firs, day Of January
eighteen hundred aud lhiriy.seven. rescrs
ing The sum Of 6.e millions Of dollars
shall be deposited with the several States
in proportion 10 their respective rePscsen
sa,ion in the Senate and Houso OF hcpre;
sen,a,ivcs Of the United States. as shal
by law. authorize ,hcir Trcssurers, OF IN
compctcn, authorities to receive INC sam
on tho terms hereinafter spceincd. anu N
r Secretary Of the Treasury shall dcs,'e
tho ssmo 10 such Treasurer, or other com
!, pe,cu, authorities, or rcecivitg eeruhca'e
Of dcposl,e therefor, signed by such com
pc,cnt authorities, in such form rs may o
, prescribed by tho Secretary aforesaid
which certificates shall express the usoa
md legal obligations. and pcdgc inc iail