The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1836-07-06
{ Vol. 26

centum per annrm, to be calculated. for
each quarter. upon the ACREAGE excesses
OF the quarter; and it shall be the duty
of the Secretary of the Treasury, at the
close ofeach quarter, to cause the amounts
on deposite in each deposite bank for the
quarter, to he examined and asccrtained!
and to see that all sums ofinterest accrul
ing under the provisions of this section,
are, by the banks respectively passed TO
the credit OF the Treasury of the United
States in his accounts with the respectiye
banks.
SECTION l2. Ana Be it further enacted
That all warrants or orders for the pur-
pose of transferring the public funds from
the banks in which they now are, or may
hereafter be deposited, to other banks,
whether of deposite or not, for the pur-
pose of accommodating the banks to
which the transfer may be made, or to
sustained their credit or for any other
purpose whatever, except it be to facili-
tate the public disbursements, and td
comply with the provisions of this act, be
aud the same are hereby, prohibited ard.
declared to be illegal and in cases
poses of equalization under the provis-
ions of this act, IN consequences OF too
great nm accumulation of Ieposite in any
bank, such transfercs shall be made to-
the nearest deposite banks which are
considered safe and secure, and which,
ncn receive the moneys to be transferred
under the limitations in this act imposed ::
Prcvided, That it may be Lawful for tho
President of the United States to direct
transfers of public money to be made
from time To- time ttI the mint Gud branch
mints Of the United States, for supplying
metal for coming.
SECTION l3. And be il further cndetcd,'
! That the money which shall be in tho
first day of January, eighteen hundred
| and thrty-scven, reserving tile sum OF
five millions of dollars, shall be deposited
with the several States, in proportion to
their respective representation in the
Senate and House Of Representatives Of
tlIe United States, as shall, by law, auth
orize their Treasurcrs, or the competert
authorities to receive the same on the
terms hereinafter specified. and the Sec
rotary of the Treasury shall deliver the
same to such Treasurer, or other conpc-
tent authorities, or receiving certificates
Of dcposite therefor, signed by such COM
pstsn, seepqlsJage,Ei!ies,. in such fern as may.
which certificates shall express the usunl
and legal obligations, and pledge the faith
of the State, for the safe keeping and re-
payment thereof, and shall pledge tho
fifth of the States receiving the same, to
pay the said moneys aud every part
thereof, from time to time, whenever tho
same shall be required by the Secretary
of the Treasury, for the purpose Of de-
fraying any wants Of the public Treasury,
beyond the amonnt of the five millions
aforesaid: Prorided, That if any State
declines to receive its pro portion Of the
surplus aforesaid, or the terms named,
the same shall be deposited with the other
States, agreeing to accept the same Of
deposite, III the proportion aforesaid +:
and provided further, That when said
r money, or any part thereof shall be wan
ted by tire said Secretary, to meet tho
appropriations mado by law, the same
shall be called for, in rateable proportisns
within one year, as nearly US convcnicu
tly may be, from the different States, with
which the same is deposited, and shall
not be called for, in sums exceeding ten
thousand dollars, from any one month,
without previous notice Of thirty days,
fer additional sum of 52C, 900, which al
any time may be required.
SECTION IA. And be it further enacted
That the said dcposites shall be made
with the said States, in the following pro-
portions, and at the following times viz
one quarter part on the first day of Jan
uary, eighteen hundred and thirty-sevel
or as soon thereafter as may be; on,
quarter part on the first day of April, ON
quarter part on the first day of July, an'
one quarter part on the first day of Octo
; Der, all in the same year.
SECTION Is. 1ndJc IL further enacted
Tlru to- ennble the Secretary of tn
(. Treasury TO carry into effect :he provis
; ions Of this act, he be authorized to ap
point three additional clerks for his DE
:, r5nrtment, the one at a salary OF on
= thousand six hundred dollars per annum
. and the remaining two at salary
one thousand dollars each per annuu
: and to pay the said clerks quarter year,
!. out of any m oney in the Treasury NJ
|. otherwise Appropriated.
: JAMES X. POLE
!. Speaker of the House Of Representative
y. M. VAN BUREN,
!. Vice President Of the United States, an
70 President Of the Senat
:. APPROVED, April llth, 1886.
70 70 ANDREW jackson