The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-05-19

expenses incidental 10 issuing the Treasury notes
authorized by this act
SEC T. And be IL further enacted, That il any per
shall falsely make, forge or counterfeit or cause
orprocure tobe falsely made, forged, or counterfeited
or willingly ad or assist In falsely making forging
or counterieiling, any note, in imitation Of or pur-
porting TO be, Treasury note aforesaid; or shall
falsely alter or cause or procure TO be falsely altered
or willingly aid or assist in falsely altering any
Treasury note issued as aforesaid /; or shall pass
utter, publish, attempt to pass utter or publish
as true, any false forged, counerfeed note pur-
porting TO be Treasury note as aforesaid knowing
the same 10 be falsely forged or counterfeited or
shall pass, utter or publish or attempt to pass utter
or publish true, any falsely altered Treasury note
issued as aforesaid, knowing the same to be falsely
altered, every such person shall be deemed and adj
Judged guilty OF felony, and being thereofconyicted
by due course OF law, shall be sentenced 10 be i'm
prisoned and kept to hard labor for period less
than three years nor more than ten years, and be
fined in sum not exceeding FIVE thousand dollars
SEC. .. Andbe IL further eRaeted, That if any per-
son shall make or engrave or cause or procure 10 be
made or engraved, or shall have in his custody or
possession any metallic plate, engraved after the
simiude Of any plate from which any notes issued
as aforesaid shall have been printed, with intent to
use such plate, or 10 cause suffer the same to be
used in forging or counterfciiing any Of the notes
issued as aforesaid or shall have in his custody or
possession any blank note or notes engraved and
printed after the similiude of any notes issued
aforesaid with intent to such blanks,
suffer The same TO be issued in forging or counter
feifing any Of the notes issued as aforesaid !; or
shall have in his custody or possession any paper
adapted tothe making of notes, and similar to the
paper upon which any such notes shall have been
issued, with intent TO use such paper or cause or
suffer the same 10 be used in forging counterfeit
ing any Of the notes issued as aforesaid every such
person, being thereof convicted by due course Of law
shall be sentenced 10 be imprisoned and kept to hard
labor Tor term not less than three more than ten
years and fined in sum not exceeding five thou
sand dollars.
SEC. .. And Be il further enacted That ii shall be-
and hereby is made the duty Of the Secretary of the
treasury to cause a statement 10 be published
monthly of the amount of all Treasury notes issued
or redeemed in pursuance OF the provision of this
act and that the power TO issue Treasury notes
ferred the President Of the United States by this
act, shall cease and determine the thirty first day
OF December, eighteen hundred and thiry-nne.
Mr.. RANDOLPH proposed to add to the bill the
following
Psorided, Not more than the amount of three mil
lions in Treasury notes be issued. And for any de-
hciency which may arise beyond that amount the
Secretary of the Treasury be- and he is hereby, au-
thorzed TO borrow, on the faith of the Government
such sums as may be required, not exceeding
millions OF dollars in specie or the notes of specie
paying banks, al an interest not exceeding six per
cent. per annum, at such times the President Of
The United States may direct; 10 be redeemed al any
time after twelve months.
MT. MEANEfEE proposed the following amend
ment:
That the President of the United States be, and he
is hereby, empowered to borrow the credit OF the
United States, sum not exceeding millions
OF dollars at rate of interest not exceeding six per
centum per annum, payable quarterly yearly, REIN
bursabe at the will Of the United States, at such
periods as may be stipulated, not exceeding
from the day Of I; to be applied,
in addition to the moneys now in the Treasury, or
which may be received therein from other sources
during The present defray public n
dllures which are or may be authorized BY law
The stock thereby created shall be transferable at
the Treasury Of the United States under such regu
lations the Secretary Of the Treasury shall pre-
scribe; which regulations shall be published in such
manner as he shall direct. And is Aeyeby further
deelared, That it shall be deemed good execution
OF the said power 10 borrow, for the Secretary of the
Treasury, with the appreciation Of the President Of
the United States, TO cause to be constituted cerif-
Gates of stock signed by the Register OF the Trea
sury, for the sum borrowed for any part thereof
bearing an interest, payable as aforesaid, not ex-
ceeding per centum per annum, transferable
and reimbssssabe as aforesaid.
Mr.. HOPKINS proposed to strike out all after
the word enacted" in the enactng clause and
insert
That the President of the United States be, and
he is hereby empowered 10 borrow, on the credit of
the United States, sum, not exceeding ten millions
OF dollars at rate of interest payable quarteryearly
not exceeding six per cent. per annum, and reim-
bursable at the will of the Government, to be APP
piled in addition to the moneys now in the Treasury
which may be received therein from other sources
to defray any of the public expenses which are or
may be authorized by law. The stock thereby Great
ed, shall be transferable at the Treasury Department
of the United States in person. or by attorney by the
holders thereof
Sec. q And be IL further enacted, That it shall be
lawful for any one or of the Banks that may
hereafter be employed as repositories Of public
moneys Of the Government of the United States, by
virtue Of the provisions of this act to lend the said
sum or any portion thereof And IS hereby further
decLarcd, That it shall be deemed good execution
of the said power to borrow for the Secretary of the
Treasury, with the appreciation OF the President Of
the United States, to cause TO be constituted certif-
Gates of stock, signed BY the said Secretary, and
countersigned by the Register OF the Treasury Tor
the sum 10 be borrowed, bearing an interest not ex
ceeding the rate aforesaid reimbursable and trans
ferable aforesaid and the said certificates
of stock to be sold Proridcd That no stock be sold
under par.
SEC. 3. And be IL further enacted That the number
of banks authorized by the act of June twenty third
eighteen hundred and thiry-six, to be employed as
repositories of the public moneys, shall not exceed
twenty-five, any thing in said act to the contrary not
withstanding that they shall be chosen from among
the most solid and respectable banks in the States or
Territories in which they are established; and their
locality as well as number shall be determined purely
with reference to the wants and convenience OF the
Treasury in conducting its fiscal operations
Ssc. A. And be IL turtle, enacted, That no bank
shall be so selected or employed, which shall pay
its bills, and notes, and all other demands upon it,
promptly in specie, when required, nor until it shall
first have furnished to the Secretary of the Treasury
statement of its condition and business, list OF its
directors and officers, copy OF its charter and such
other Information he may require, 10 enable him
to Judge OF The soundness of its condition.
SIC 5. Ind be IL further enacted That the banks TO
be employed repositories as aforesaid shall be Sc
lected by the Secretary Of the Treasury in the fol
lowing manner TO wit if the selection be made
during the session of Congress, it must before j
take effect, be first approved BY the Senate and II
made during the recess il shall be submitted to that