The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1836-07-15
VI EEkLY ALMANAC.
The Dcp0sitc Bill.

BILL 10 regulate the Deposites Of the Public
Money.
Be IL enacied by The Senate and House Of
Representatives, Of The United States Of 4.
asrlca in Congress assembled, That il
sball be the duty of the Seer tarv Of the
Treasury to select, as soon as may be prac.
ncabc, and employ as the repositories of
,he money OF the United States, such OF the
Banks Incorporated by the several States,
b. Congress for the District oil Columbia,
or by the Legislative Councils Of the re.
s2eclNe Territories, as may be located al, ,
adjacent, or convenient 10, the points or pl..
ces al which The revenues mas be collected
u disbursed. And IN those States, Terri.
B4nks, or 10 winch no Bank can be employed
| a. a deposite Bank, and within which the pub.
lie collections or disbursements require de.
posiiory, the SAID Secretary may make ar.
rannements with Bank or Banks, 10 some
other State, Territory, or District 10 es.
iibsh an agency, or agencies, in the States,
Territories, or Districts, SO destitute Of
Banks, as banks Of de2osi,e, and to receive
through sch agencies such deposises OF the
public money as may be directed 10 be made
a. Tie points designated, and 10 make such
disbursements as the public service may re.
cure at those points the duties and llablI.
ties d every Bank thus establishing any
such agency to be the same ia respect 10 It's
agency as are the duties and liabilities Of
deposle Banks generally under the proyis.
Ions Of thus act Prorsded tina, at leas, oue
such Bank shall he selected IN each State
and Territory, # ans can be found IN each
Safe aud Territory wiling TO be employed
as repositories OF thr public money, upon
Tie terms and conditions hereinafter pre-.
scnbed, aud continue 10 conform thereto:
that the Secretary Of the Treasury shall
n5t suffer 10 remain IN any deppslie Bank
an amount Of the public moneys more ,han
eqna. 10 three tuutlh- OF the amount Of its
capital stock actually paid N for longer
uHc than nay be necessary TO enable him
lomaku the transfers required hy the twelfth
section Of thss act, and that the Banks SO
selected shall be, IN his oplu,on, safe de.
fos1oucs Of the public money, aud sha, be
vttn, TO undertake to Go aud pcr.arn the
several GBlIesand services, aud to conform 20
hesoyeral conditions prescribed by THIS act.
Ssc, :. Aqd BE- II further e7actiI, Tina,
H. ut any point or place at which the plbhC
revenue may be collected, there shall be no
Bank located winch, IA the oplulan.oi the
Secretary If the Treasury. IS IN safe con.
dt'1n, Or where all the Banks at such polul
Of place shall llil or refuse 10 be emp.oled
a. repositories Of the public money Of the
United States, or to comply with the con.
Gi'ious prescribed by this act, or where
such Banks shall not have sufficient capital
to become repositories Of the whole amount
Of moneys collected 1t such point or place,
he shall and may order aud direct the pub.
nc money collected at such point or place
10 be deposited in Bank or Banks IN the
same State, or in some one or more OF the
adjacent States, upon the terms and condl.
IONS hereinafter prescribed: Prorsdcd
That nothing IN this act contained shall be
10 construed as to prevent Congress at any
hme from passing any law for the removal
q tho public money from any of the said
Banks, or from changing the terms OF de.
posIle, or to proven, the said Banks at any
lime declining my longer to DC the deposI
torres ofthe public money, upon paying over,
OF rendering to pay, the whole amount Of
pubic moucys on audaccor,hng to the term
Of It's agreement with the said ec'ctary.
Sec. 3. And be il furtho enacted, That
no Bank shall hereafter be selected and en-.
poyd by the Secretary of the Treasury as
depository of the public money, until such
Bank shall have first furnished 10 the said
secretary statement Of its condition and
business, lis, Of its directors, the curren,
price OF lis stock /; and, also, a copy of It's
CHARTER; aud likewise, such other lnlorrna.
l'on as may be necessary to enable him to
Judge OF the safety of It's condition.
Sec 4. And be il further enacted, That
me SAID Banks, before they shall be EN-.
Poyed as the repositories of the public mo,
ney' shall agree to receive The same upon
Tie following terms and conditions, viz