Cheraw gazette. [volume] (Cheraw, S.C.) 1835-1838, 1836-07-05

Mr.. Clay said that if it should be con.
sidered by the Senator from South, Carolina
Tor any other Senator) advisable to adopt
such a resolution as he had suggested, he
might do so when the resolution ofthe COM
mittec on Foreign Affairs came to be acted
on, and that resolution was the special order
for yesterday. He did not concur in the
opinion expressed by the Senator, that the
sole fact to be regarded, in acting on this
subject was that Of the termination OF. the
war. There was also another fact, and 1t
was that concerning which he presumed the
President was now seeking information, and
this was-whethcr there is, in fact, govern
mcnt existing in full and successful opera
ton, SO as to justify the establishment OF
intercourse and relations Of amity. When
over the motion to lay the message on the
table, and print it, was disposed OF, ne
would move to make the resolution reported
by the Committee on Foreign Relations the
special order for day next week.
The message was then laid on the table,
and ordered to be printed.
The following is the deposite bill as
passed by the Senate and sent 10 the
House. The House amended it by ta-
king away from the Secretary ofthe Trea-
sury the power Of selling or assigning the
certificates of deposite; and in this form
the bill became law, ....,,
A BILL TO regulate the deposites sof
the public money. - .,t
Be it enacted by the Senate and House
Of Representatives, Of the United States o
America in Congress assembled, That it
shall be the duty Of the Secretary of the
Treasury to select, as soon as may be
practicable, and employ as the deposito-
ries ofthe money ofthe United States, by
Congress for the District of Columbia, or
by the Legislative Councils of the resPec-
tive Territories for those Territories, as
may be located at, adjacent, or convenient
to, the points or places at which the rove
mes may be collected or disbursed. And
in those States, Territories, or Districts,
in which there are no banksior in which
no bank can be employed as a dePosite
bank and within which the public collec-
tons or disbursements require a dePosito-
ry, the said Secretary may make arrange
ments with bank, or banks, in some 9TH
er State, Territory, or District, to estab-
lish an agency or agencies, in the States,
Territories, or Districts, so destitute OF
banks of deposite; and TO receive through
such agency such deposites the public
money as may be directed to be made at
| the points designated, and TO make such
disbursements as the public service may
require at those points, the duties and La
bilities of, every bank thus establishing
any such agency to be the same in res
pect TO its agency.as are, the duties and
liabilities of deposite banks generally ull-
der the provisions of this act: Prorided,
That at least one such bank shall be Sc
lected in each State and Territory, if any
can be found in each State and Territory
willing to be employed as Repositories .,
the public money, upon the terms and
conditions hereinafter prescribed, and
continue to conform thereto; that the See
retary of the Treasury shall not suffer to
remain in any deposite bank an amount o
the public moneys more than equal to
three-fourths of the amount of.its capita
stock actually paid in for longer time
than may be necessary to enable him. to
make the transfers required by the twelfth
section of this act and that the banks Sc
selected shall be, in his opinion, safe de-
positories Of the public money, and shaI
be willing TO undertake to do'and perform
the several duties and services, and tt
conform to the several conditions prescri-
bed by this act.
SEC. 2. And be it further enacted, Tha
if, at any point or place at which the pub.
lie revenue may be collected, there shall
be no bank located which, in the opinion
of the Secretary Of the Treasury, is in {
safe condition, or where all the banks, a
such point or place shall fail or refuse tc
be employed as repositories Of the public
money of the United States. or to comply
with the conditions prescribed by this act
or where such banks shall not have sufI.
cient capital to become repositories o.
of the whole amount of moneys collected
at such point or place, he shall and ma,
order and direct The public money collect
ed al such point or place to be deposited
in a bank or banks in the same State, .-o
Lin some one or more Of the adjacen
States, upon the terms and condition.
!, c. .,,.;hoJ. prorsJ.d Tha