Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1838-01-31

New Orleans or 10 the officers OF ell
Their of the Receivers General of Pub
lie Money by this act directed to be
appointed TO be there safely kept,
according to the provisions of this
act and also 10 transfer moneys in
the hands of any one depository con-
stituted by this act, to any other de-
pository constituted by the same, at
his discretion, and as the safety Of the
public moneys, and the convenience of
the public service, shall seem to him
to require. And for the purpose OF
payments on the public accoun, it
shall be lawful for the said Secretary
to draw upon any of the said deposlto-
res, es he may think most conducive
to the public interests, or TO the con-
venience of the public creditors, or
both.
Sec. H. And be it further enacted,
That the moneys in the hands, care,
and custody, of any OF the repositories
constituted by this act, shall be con-
sdered and held as deposited to the
credit of the Treasurer of the United
States and shall be, at all times, SUBJ
jectto his draft, whether made for trans.
fer or disbursement, in the same man.
ner as though the said moneys were
actually in the Treasury of the United
States; and each depository shall
make returns to the Treasury Depart
ment of all moneys received and paid
by him, at such time and in such form,
as shall be directed by the Secretary
Of the Treasury.
Sec. IL. And be it further enacted,
That whenever public moneys shall
accumulate in the hands of any depos-
itory constituted by this act, other
than the Treasurer of the u. States,
the Treasurer of the Mint of the Uni
ted States, the Treasurer ofthe Branch
Mint at New Orleans, and the ReceI-
vers General of the Public Money, 10
an amount beyond that secured by the
bond OF the officer, or which the Sec
rotary Of the Treasury shall, for any
cause, consider unsafe, and ii shall
not be desirable to transfer the mon-
eys so accumulated to any other de-
pository, it shall be lawful for the SAID
Secretary to direct the said moneys,
or any portion thereof, TO be specially
deposited in such bark of the State, or
Territory, wherein the depository who
is TO make the deposite is located, as
he, the said Secretary, shall select and
name: Provided, The bank so selec-
ted will agree TO receive and keep the
moneys deposited with it upon the
| terms and conditions in the next Sec
ton of this act prescribed.
Sec, 10. And be it further enacted,
That the special deposites of the pub
lie moneys, authorized by the last pre-.
ceding section of this act to be made
in banks, shall be made upon the fol-
lowing terms and conditions, and up
on no other, namely:
FIRST. All such deposites shall be
strictly special deposltes; and the banks
holding them shall be prohibited, IN
the most effectual manner, from ma
king any use Of the moneys deposited,
by way of loans, discounts, or IN any
other manner, or for any other pur-
pose whatsoever and to secure the
| fufilment Of this condition, the Score.
tary of the Treasury is authorized, in
his discretion, to furnish the banks Sc
lected as deposite banks, with safes for
the keeping of the public moneys ex-
clusively, and under the joint control
of the bank and some designated off,
Ger of the Government, or to adopt
such other guards as he shall prefer.
Second. Nothing but gold and sill
yer, or such notes, bills. or paper, is
sued under the authority of the United
States, as may be directed by law TO
be received in payment OF the public
dues, shall be offered for deposte, or
received by the bank as q deposite,
under the provisions OF this act.
Third. All deposites shall be passed,
upon the books OF the bank, to the cre-
dit Of the depository making the same
but no moneys deposited in pursuance
of this act shall be Withdrawn without
the express order of the Secretary Of
the Treasury for the payment and no
drafts of the Treasurer of the United
States or orders or warrants of the
Secretary of the Treasury, for ordina-
nv transfer or disbursement, shall be
made upon any bank selected as de-
posite bank under this act.
Fourth. A commission, such as shall
be agreed upon between the Secretary
of the Treasury and the bank, not in
any case to exceed--per centum up
on the moneys deposited with it, shall
be allowed and paid by the U. States,
in full satisfaction of all claims on the
part Of the bank for trouble and risk
growing out of the receipt, safe keep
ing and repayment OF the special depo-
sites herein authorized to be made, all