Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1838-01-31
[vol. XxxvIII---No. so.

OF The kind OF money IN which II Is re.
ceived, and Of each payment or trans.
fer, and oil the kind of currency in
which il is made aud that il any one
of the said officers snail convert to his
own use, in any way whatever, OF
shall use by way oil investment IN any
kind Of property or merchandise, OF
shall loan, with or without interest, a.
ny portion OF the public moneys en-
trusted 10 him for saie.keeping, dis
5ursement, or transfer, or for any 9th.
er purpose, every such act shall be
deemed and adjudgod an embczzlemen,
of SO much of the said moneys as shall
be thus taken, converted, invested "a
sea or.loaned, which is hereby declared
to be high misdcmeanor, aud any Of
/ ticcr or person convicted thereof before
any court Of the United States Of com.
potent jurisdiction, shall be sentenced
TO Imprisonment for term of not less
than two nor more than five years, and
TO fine equal to the amount ofthe mo.
ney smbezzled.
Sec. 81. And be it further enacted,
| That, in o,der 10 avoid nconvenient
or injurious Accommodations Of gold and
silver in the HANDS OF the repositories
of the Government, il shall be the du.
| ty Of the Secretary of the Treasury,
whenever the amount oil money IN the
| Treasury Of the United States and
standing To the credit of the Treasurer,
/ in the hands of the several deposito.
ries, shall exceed in amount 1000
600, 10 invest the surplus of such mo-
neys in securities bearing an interest
and issued upon the faith and credit of
the United States, or OF some one OF
the States OF the Union: in all cases
OF sucf investments selecting such
stocks or securities as are transferable
by delivery or assignment, and from
the rate Of interest payable, tho time
or times they may have TO run, and
the prices they may bear in the mar.
ket, shall seem TO him best 10 answer
the purposes for which the investments
are directed, and al no time paying
more than the current value IN the
market for any such stocks or securl.
ties. And Whenever the amount oil
moneys il tho Treasury, and standing
to the credit of the Treasurer, shall be
so much less Than $4,000 600, as &
indicate 10 the Secretary 81 tic Tfea
sury that the moneys invested, or ans
portion thereof, will be required TO
the purposes OF public disbursement
then i: shall be his duty to sell such
portions Of tho stocks and securities
| purchased, as may DO necessary 10
keep the balance OF money IN the Irea-
sury equal 10 It's wants. Provided
That in all investments 10 be made in
obedience 10 the provisions of this Sec
ton, the said Secretary shall confine
his purchases OF stocks and securities,
issued upon the faith and credit Of any
State 10 such as have becn actually is.
sued BY the State, and shall not be at
liberty TO subscribe for, or otherwise
purchase, those proposed 10 be issued,
and not in actual existence, as stocks
and securities in the market.
Sec. 90. And be il further enacted,
That until rooms, Offices, vaults, and
sa fes, directed by the first, third, fifth
and sixth sections of this act, 10 be
constructed and prepared for the use
of the Treasurer of tho United States,
the Treasures Of the MINIS at Phila.
delpha and New Orleans, and the Re-
ceiyers General of the Public Money,
at, New York, Boston,, Charleston, and
ST. Louis, can be constructed and pre-
pared for use, it shall be the duty OF
the Secretary OF the Treasury to pro-
cure suitable rooms for Offices for those
officers al their respective locations,
and To contract with such banks Incor.
porations, or individuals, AS may be
willing TO contract TOR such use OF their
vaults and safes as may be required
for the safe. keeping Of the Public Mo.
MES IN the charge and custody ofthose
officers respectively, the expense TO be
paid by the United States.
See. %. And be it further enacted,
That from and after the thirty first
day OF December. which will be IN the
year one thousand eight hundred and
thirty eight, the resolution Of Congress
of the thirteenth day of April, one thou
sand eight hundred and sixteen, so far
as it authorises the receipt 10 pay
ment of duties, taxes, sales OF public
lands, debts, and sums Of money ac-
cruing or becoming payable to the
United States, to be collected and paid
in the notes of specie paying banks,
shall be 50 modified as that one. sixth
part of all such duties, taxes, sales of
public land, debts, and Sums Of money
accru,ng or becoming due TO the Uni
ted States, shall be collected in the lie.
gal currency OF the United States and
from and after the 3lst day of Deem.
Der which will DO in the year 1889,
s,,a. atber sixtn pa RI 0f all St,f.h duties,