The Camden journal. [volume] (Camden, S.C.) 1836-1851, 1836-07-09
fBY AUTHORITY.l
xAw OF rnE UNITED STATES PASSED a
THE TWENTY FOURTH CONGRESS
FIRST SESSION.
[Prnllc, No. 36.]

fPunIIc, No. SO.
AN ACT to regulate the dePosiies of the
pu5lic money.
Be i, enacted By the Senate and Hoase cf
Representatives. Of Tie United States q Amer.
riea ia Congress asseubisd. That It shall
be the duty Of the Secretary Of the Frea-
sury to select as soon as may be practical
ble and employ as the repositories OF :hc
money of the United States, such OF shc
banks incorporated by the several States,
by Congress for the Dis,ric, OF Columbia
or bv the Legislative Councils of the res
,peciirc Territories for those Territories,
as may be located at, adjacent or coarc-
nisn. 10 the points or places al which the
revenues may be collected. or disbuvscd
and In those States, Territories or D,s'
tricis in which :hcre arc no banks. or in
which no bank can be employed as de-
,posiic bank, aud within which The public
collections or disbursements require de-
posiiory, the said Secretary may make ar
ransemcn:s with bank or banks. 10 sou'c
.o,se. State, Territory or District, 10 es-
tab,ish an agency, or agencies, in the
States. Territories or Districts so dcs:i.
,utc of banks. rs banks Of dcpcsitr; aud
10 receive through suel, agencies such de-
poss,cs Of tho public money. az may DC
directed 10 be made al the points dcsisna'
ted, and 10 make such disbursements rs
the public scrricc may require at those
points: The duties and Iisbii,tics OF every
bank thus establishing any such agency
10 ba The same in rcsPcc, 10 lis agency as
arc tho duties and liabilities OF dcpos''c
banks generally. under tho provisions Of
this act. Prosidtd, sha, at least ono suef,
bssk shall be selected in each Stale ana
Territory. IL any can be found in each
State and Territory willing 10 be employ
ed q. repositories Of the public money,
anon the terms and conditions hereinafter
nrescr;hed. and continue 10 conform there.
10; and ,ha, the Secretary Of tho Treasn
~ shall not suffer 10 remain 10 any dePo'
site bank, an amount Of The public mo.
,oeys more than equal TO thEce.four'hs OF
the amount Of lis capital stock actually
maid in. for longer time than may be ne'
,eessarv 20 enablc him TO make the trans.
fer. required by The twelfth section Of ,hl.
act: and ,ha, ihe banks 90 selected, shall
be, Ia his opinion. safe dcposiiories OF the
public money. and shsll be willing 70 nn'
der.ake 10 do snd perform the several au'
ties and scsviees, and 10 conform 70 tho &C.
vessl conditions prescribed by this aet.
Sse. g. Asd b Il }s,fAsr saasssd, Inaf a. say
,poin. or place al which The public rersnue
may bc collected, there shall be no bank
located, which, in the opinion Of The Sec
rctary Of the Treasury Is in safo eondi'
tiop. or where all The banks n, such point
or place shall fail or refuse to be cnrloy'
ed ss Repositories Of the public money OF
tho United States, or TO comply win 'hs
conditions prcscribcdby ,!is act. or whcr'
sush banks shall no, have Sufficient capi
tai 10 become Repositories Of the "h.''
amount Of moneys collected Mt such poin
ar placc. he shall and may order ana d'rce
the public money collected OF sneh pom
or place to be deposited in a hahA o
banks in the Same State. ar in some ono o
more Of the adjacent States upon The term
and conditions hereinafter prescribed
Prprid.d, That nothing in this act contain
ed shall be construed as 10 prevent Ion
s,css a, any time from passing any 'aN
for the removal Of the public money ifo'
any Of the said banks. or from cbansin
the terms Of dcpositc or TO prevent III
said banks at any ,imo from declining an ~!
longer to be the repositories Of the Pnoi'
money upon paying over. or tenIcrins
pay, the whole amour, Of public money
ON hand, according TO the terms OF II
arrecmen. with the said Secretary.
Sac. 3. Had be IL further enae,ed, That .
hank shall hereafter be selected and ell
ployed By the Secretary of the Treasur
as depository Of the public moncy.un'
such bank shall hare frs! furnished to u