State rights and democratic union. (Yazoo City, Miss.) 1839-18??, 1839-09-17

lSeCfetary 10 direct sucn payments; by the said
collectors and receivers, at the said places al
least as often once in each month, aud as
much more frequently, in all cases as he, in
Ibis discretion, NAV think proper.
Sec. 10. And be it further enacted, That
lit shall be lawful for the secretary Of the
Treasury TO transfer the moneys in the hands
of any depository hereby constituted to the
Treasury of the United States; to the Mint at
Philadelphia; to the branch Mint at New
Orleans; or TO the Offices Of either Of the re-
ceIvers general of public moneys, By this act
directed TO be appointed; to be there safely
kept, according to the provisions Of any one
depository constituted by this act to any other
depository constituted by the same, at his dis
cretion, d as the safety of the public moneys,
and the convenience of the public services;
shall seem to him to require Aud for the
purpose of payments on the public account, it
shall be lawful for the Treasurer of the
United States TO draw upon any Of the said
repositories as he may think most conducya
to the public creditors, or both.
Sec. IL. And be il further enacted, That the
money in the hands, care and custody OF any
OF the repositories constituted by this act,
shall be considered and held as deposited to
the credit Of the Treasurer Of the United
States; nd shall be at all times subject to his
draft, whether made for transfer or disburse.
ment, IN the same manner as though the said
moneys were actually in the Treasury Of the
United States, and each depository shall
make returns to the Treasury Department Of
all moneys received and paid by him, at such
times, aud in such foIm as shall be derected
by he Secretary of the Treasury.
Sec. ~. And be it further enacted, That
whenever public moneys shall accumulate in
the hands of any depository constituted by
this act, other than the Treasury Of the u.
States, thu Treasurer of the Mint Of the u.
States, the Treasurer of the branch Mint at
New Orleans, and the receivers general of
public money, to an amount beyond that Sc.
cured BY the bond of the officer, OF which the
Secretary Of the Treasury shall for any cause,
consider unsafe, and it shall not be desirable
to tansfer the moneys so accumulated to any
other depository, it shall be lawful for the
said Secretary to direct the said moneys, or
any portion thereof, to be specially deposited
in such bank Of the State or Territory where.
in the depository who is to make The deposit.
lite, is located, as he, the Secretary, sail Sc.
lect and name: Provided, the band 50 select.
cd will agree TO receive & keep the moneys
deposited with it upon the terms and condI-
tons in the next section Of this act prrscrib.
ed.
Sec. ID. And be it further enacted, That
the special deposites Of the moneys authoriz.
ed BY the last preceding section of this act,
10 be made upon the following terms and con.
dIiions and upon no others, namely:
First: All such depostes sail be strictly
special depOsites, and the banks holding
them shall be prohibited, in the most effcctu-
al manner, from making any use of the mon
eys deposited, by way Of discounts, loans, or
in any other manner or for aay other pur
pose whatsoever, and to secure the fuIflrnent
of this condition, the Secretary of The Treas.
ury is authorized in his discretion, to furnish
the bandks selected as deposite banks with
safes for the keeping of the public money
exclusively; and under the joint control of
The hank and some designated officer of the
Government, or to adopt such other guards
as he shall prefer
Second: Nothing but gold or silver, or such
notes, bills or paper issued under the author
1ty of the United States, as may be directed
by law TO be re ceiVe in payment Of the pub.
lie dues shall be offered for depocitc, or Ie.
ceived by the bank as a deposites shall be
offered for deposite, or received by the bank
as deposte under the provisions Of this act.
Third; All deposites shall be passed upon
the books of the bank, to the credit of the
depository making the same; but on moneys
deposited in pursuance Of this act shall be
Withdrawn without the express order Of the
Secretary ofthe Treasury for the payment; and
no draft ofthe Treasurer Of the United States
or orders or warrants of the Secretary OF the
Treasury, for ordinary transfer or disburse.
ment, shall be made upon any 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 one eighth Of one per centum upon
the moneys deposited with it, shall be allow.
ed and paid BY the United States in full salts.
faction of all claims on the part of the bank
for trouble and risk growing out of the re- {
ceipt, safe keeping and disbursement Of the
special depsltes herein authoizei to be made;
all accounts for commission to be audited
an paid al the Treasury of the United
States. 7
Sec IA And be il futher enacted, That .
in case no bank within the State o. Telrto. a
~ wherein the depository, directed TO make Q
1eposites, Is located, will consent TO receive {
The moneys Of she Government upon special t
ieposite according to the foregoing coDdi- I.
lions, then it shall be lawful fnT the Secreta- P
~ of thn T,raaanrv IN select snrne hank in an r