Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1836-07-05

SECTION H. .3nd DC Il Further enacted That whenever
the amount Of public depositcs to the credit Of the rea
Of The U. Statrs, in any bank SHALL for whole
quarter Of year, exceed the one-tnurh part Of tho
amount of the capital stock of such banks actually paid
in the banks shall allow and pay to the United States,
for tho of the Of the deposites the
fourth part Of its capital, and interest at the rate Of two
per cenm per annum TO be calculated for each quarter
ucon the average of the quarter and it shall he
tic duty Of the Secretary OF the Treasury at the close OF
each quarter, 10 the amounts dcpose in each
deposle bank for The quarter, 10 be examined and aSccr
taned aud 10 that all OF interest accruing I'M
der the provisions of this section are by the banks
spectivey passed the credit of the Treasurer Of the u
States in his accounts with The respective banks.
SEC -. Anil lie IL farther enacted That all warrants
or orders for The purpose of transferring the public funds
fio the banks in which they are may hereafter
be deposited 10 other banks, whether of deposite or not
for the purpose of accommodating the banks TO which
the transfer may be made, or to sustain their credit or
for any other whatever except be 10 facilitate
the public disbursements and to comply with the pro-
visions Of this ac be- and the same ale hereby, Pruhi-
bed and declared to he Illegal and in cases where trans
fes shall be required for purposes OF equalizaon under
the provisions Of this act in consequence OF too great
accumulation Of depostes in any bank such transfers
shall be made TO the nearest dcposte banks which are
considered safe and secure and which can receive the
monies TO be transferred undS the limitations IN ihiS act
mposcd Prorided That il may be lawful for the Presl-
dent Of the United States 10 direct transfers OF public
money to be made from time time TO the mint and
brunch minis Of the United States, for supplying metal
for coming.
SECTION 49, .7nd be further enacted, That the mo-
ney which shall be in the Treasury Of the United States,
on the first day of January eighteen hundred and thirty
seven resetvlng the sum of five millions OF dollars shall
pe deposited with the several States, in proportion to
'e respective representation in the Senate and House
OF representatives Of the u States as shall by law
tnorlHe .heir lreasuers the competent authorities
receive te same On the terms hereafter specified and the
Secretary OF the Treasury shall deliver the same 10 such
Treasurer or other competent authorities on receiving
certificates depos'e by such competent
Secretary aforesaid, which certificates shall express the
usual andegal obligations, and pledge the faith of the
State, for The safe keeping and repayment thereof and
shall pledge the faith OF The States receiving the same
to pay the said mouies and every part thereof, from
time to time, whenever the shall be required, by
the Secretary of the Treasury, for the purpose of de-
faying any wants Of the public Treasury, beyond the
amount of the Eve millions aforesaid Prouidcd, That
if any State declines 10 receive its proportion of the
plus aforesaid the terms before named the same shall
be deposited with the other States, agreeing to accept